Waddell & Reed Financial, Inc. Announces October 31, 2020 Assets Under Management
Waddell & Reed Financial reported preliminary assets under management (AUM) of $66.2 billion as of October 31, 2020, down from $67.9 billion at the end of September 2020. The company experienced net outflows of $705 million during October, with significant reductions in both retail and institutional segments, leading to an ending AUM of $66.172 billion. These figures reflect market conditions and investor behavior, and management cautions that these estimates may be subject to change.
- None.
- Decline in AUM from $67.9 billion to $66.2 billion.
- Net outflows totaled $705 million, indicating potential investor dissatisfaction.
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Waddell & Reed Financial, Inc. (NYSE: WDR) today reported preliminary assets under management of
| Assets Under Management | ||||||||||||||||||
| ($ in Millions) | ||||||||||||||||||
| Preliminary | ||||||||||||||||||
| Month Ended October 31, 2020 | ||||||||||||||||||
| Retail | Institutional | Total | ||||||||||||||||
| Beginning assets | $ |
64,681 |
|
$ |
3,188 |
|
$ |
67,869 |
|
|||||||||
| Net flows |
|
(610 |
) |
|
(95 |
) |
|
(705 |
) |
|||||||||
| Market action |
|
(946 |
) |
|
(46 |
) |
|
(992 |
) |
|||||||||
| Ending assets | $ |
63,125 |
|
$ |
3,047 |
|
$ |
66,172 |
|
|||||||||
Cautionary Statement
The preliminary information included in this news release reflects management's estimate based on currently available information. Estimates are subject to change. Accordingly, you should not place undue reliance upon this preliminary information.
About the Company
Through its subsidiaries, Waddell & Reed Financial, Inc. has provided investment management and wealth management services to clients throughout the United States since 1937. Today, we distribute our investment products through the unaffiliated channel under the IVY INVESTMENTS® brand (encompassing broker/dealer, retirement, and registered investment advisors), our wealth management channel (through independent financial advisors associated with WADDELL & REED, INC.), and our institutional channel (including defined benefit plans, pension plans, endowments and subadvisory relationships). For more information, visit ir.waddell.com.
