Waddell & Reed Financial, Inc. Announces September 30, 2020 Assets Under Management
Waddell & Reed Financial reported preliminary assets under management of $67.9 billion for September 2020, down from $70.3 billion in August 2020. The decline is attributed to net outflows of ($624 million) and a negative market action of approximately ($1.8 billion). The company's preliminary data indicates a decrease in both retail and institutional assets, highlighting potential challenges in the current market environment.
- None.
- Decrease in assets under management from $70.3 billion in August to $67.9 billion in September.
- Net outflows of $624 million indicate reduced investor confidence.
- Negative market action of $1.8 billion further contributed to the decline in assets.
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Waddell & Reed Financial, Inc. (NYSE: WDR) today reported preliminary assets under management of
| Assets Under Management | |||||||||||
| ($ in Millions) | |||||||||||
Preliminary |
|||||||||||
|
Month Ended September 30, 2020 |
||||||||||
|
Retail |
|
Institutional |
|
Total |
||||||
| Beginning assets | $ |
66,980 |
|
$ |
3,321 |
|
$ |
70,301 |
|
||
| Net flows |
|
(593 |
) |
|
(31 |
) |
|
(624 |
) |
||
| Market action |
|
(1,706 |
) |
|
(102 |
) |
|
(1,808 |
) |
||
| Ending assets | $ |
64,681 |
|
$ |
3,188 |
|
$ |
67,869 |
|
||
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.
