Waddell & Reed

Fund Detail

WRA Tax-Managed Equity Fund
Class A Shares

Please select a fund and share class

Fund Facts
Ticker Symbol WTEAX
CUSIP 930057369
Fund Code 671
Fund Type Domestic Equity
Fund Inception 3/31/2000
Class Inception 3/31/2000
Fiscal Year End December
Dividends Paid December
Fund Assets (as of 8/31/2014) $324.3 mil
Total Equity Holdings (as of 8/31/2014) 55
Total Holdings (as of 8/31/2014) 57
Lipper Category Large-Cap Growth Funds
Morningstar Category Large Growth
Benchmarks Russell 1000 Growth TR USD
Daily Prices
as of 9/15/2014
Net Asset Value (NAV) $18.06
NAV Change ($) ($0.11)
NAV Change (%) -0.61%
Weekly NAV Change ($) ($0.11)
Weekly NAV Change (%) -0.61%
Public Offering Price (POP) $19.16
Historical Prices & Distributions
Please select a date
Fund Description
Fund Objective
To seek to provide growth of capital while minimizing taxable gains and income to shareholders.

Investment Approach
We invest in growth-oriented companies believed to have above-average earnings predictability and stability. We attempt to focus on growth companies with sustainable competitive advantages that will allow them to have more persistent growth over long periods of time. Key factors typically analyzed include a company's brand equity, proprietary technology, economies of scale, level of inter-industry competition, threat of substitute products and the interaction and bargaining power between a company, its customers, suppliers and competitors.
Morningstar Style Box
Source: Morningstar
Returns and Expenses

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Performance at NAV does not include the effect of sales charges. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return Average Annual Total Returns
as of 8/31/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 10.18% 31.61% 19.25% 16.01% 10.64% 5.24%
Fund with 5.75% sales charge 3.84% 24.05% 16.93% 14.65% 9.99% 4.81%
Fund After Taxes Pre-Liquidation 10.18% 28.94% 18.26% 15.42% 10.36% N/A
Fund After Taxes Post-Liquidation 5.76% 19.57% 18.26% 12.87% 8.79% N/A
Russell 1000 Growth TR USD 9.48% 26.29% 19.95% 17.82% 9.20% 1.58%
Quarterly Rates of Return Average Annual Total Returns
as of 6/30/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 5.75% 31.22% 14.90% 16.41% 9.20% 5.00%
Fund with 5.75% sales charge -0.34% 23.65% 12.65% 15.03% 8.56% 4.56%
Fund After Taxes Pre-Liquidation 5.75% 28.55% 13.95% 15.82% 8.92% N/A
Fund After Taxes Post-Liquidation 3.25% 19.47% 13.95% 13.24% 7.55% N/A
Russell 1000 Growth TR USD 6.31% 26.92% 16.26% 19.24% 8.20% 1.39%
Lipper Large-Cap Growth Funds 4.32% 26.61% 14.53% 17.40% 7.51% N/A
Expense Ratios
as of 10/31/2013
Net 1.14%
Gross 1.14%
Growth of a $10,000 Investment
through 8/31/2014
 Tax-Managed Equity A
 Russell 1000 Growth TR USD

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Ratings and Rankings
Lipper Rankings
as of 8/31/2014
Category: Large-Cap Growth Funds
  Rank Percentile
1 Year 14 / 729 2
3 Year 231 / 616 38
5 Year 284 / 548 52
10 Year 32 / 386 9

Rankings are based on average annual total returns, but do not consider sales charges.

Morningstar Ratings
as of 8/31/2014
Category: Large Growth
Overall (out of 1500 Large Growth)
3 Year (out of 1500 Large Growth)
5 Year (out of 1329 Large Growth)
10 Year (out of 906 Large Growth)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 8/31/2014)
Domestic Common Stock 91.35%
Foreign Common Stock 7.19%
Cash and Cash Equivalents 1.47%
Sector Allocation
(as a % of equity holdings as of 8/31/2014)
Consumer Discretionary 27.5%
Information Technology 24.2%
Health Care 17.6%
Industrials 15.3%
Consumer Staples 7.9%
Energy 4.8%
Telecommunication Services 2.7%
Top 10 Equity Holdings
(as a % of net assets as of 8/31/2014)
Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions worldwide.Apple, Inc. 4.4%
Gilead Sciences, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for the treatment of life-threatening infectious diseases.Gilead Sciences, Inc. 3.6%
Visa Inc. operates retail electronic payments network worldwide. It facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.Visa, Inc., Class A 3.3%
MasterCard Incorporated (MasterCard) is a global payments company that provides a economic link among financial institutions, businesses, merchants, cardholders and governments worldwide, enabling them to use electronic forms of payment instead of cash and checks.MasterCard, Inc., Class A 3.3%
HCA Holdings, Inc., was one of the first hospital companies in the U.S., and now includes 165 hospitals and 115 freestanding surgery centers in 20 states and England. HCA Holdings, Inc. 3.1%
Las Vegas Sands Corp. (LVSC), a global developer of destination properties (integrated resorts), features accommodations, gaming, entertainment, retail, convention and exhibition facilities, celebrity chef restaurant, etc. The company operates in 3 geographic areas: Macao, Singapore, United States.Las Vegas Sands, Inc. 2.7%
CBS Corporation (CBS Corp.) is a mass media company with operations in Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor segments.CBS Corp., Class B 2.7%
SBA Communications Corporation owns and operates wireless communications infrastructure in the United States. SBA Communications Corp. 2.6%
Union Pacific Corporation owns the largest railroad in the U.S. It's diversified business mix includes agricultural products, automotive, chemicals, energy, industrial products and intermodal.Union Pacific Corp. 2.5%
Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally.Biogen Idec, Inc. 2.5%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 6/30/2014)

Risk Factors: As with any mutual fund, the value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. These and other risks are more fully described in the fund's prospectus. Not all funds or fund classes may be offered at all broker/ dealers.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time.

Stylebox: The Morningstar Equity style box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.

After-tax returns shown are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns on distributions and sale of Fund shares assume a complete sale of Fund shares at the end of the measurement period, resulting in capital gains taxes or tax benefits when capital losses occur. Actual after-tax returns will depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Index Description: Russell 1000 Growth is an unmanaged index comprised of securities that represent the large cap sector of the stock market. It is not possible to invest directly in an index.

Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.

Morningstar Ratings: For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of all sales charges), placing emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) A fund's overall rating is derived from a weighted average of the 3-, 5- and 10-year (if applicable) rating metrics. Morningstar Rating is for the share classes specified; other classes may have different performance characteristics.

Information is subject to change and is not intended to represent any past or future investment recommendations.

Financial Advisor Opportunities
Corporate Careers