Waddell & Reed

Fund Detail

WRA Tax-Managed Equity Fund
Class A Shares

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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 2/28/2015) $354.5 mil
Total Equity Holdings (as of 2/28/2015) 52
Total Holdings (as of 2/28/2015) 54
Lipper Category Large-Cap Growth Funds
Morningstar Category Large Growth
Benchmarks Russell 1000 Growth TR USD
Daily Prices
as of 3/27/2015
Net Asset Value (NAV) $18.24
NAV Change ($) $0.08
NAV Change (%) 0.44%
Weekly NAV Change ($) ($0.51)
Weekly NAV Change (%) -2.72%
Public Offering Price (POP) $19.35
Historical Prices & Distributions
Please select a date
Fund Description

Seeking growth with minimizing potential taxable gains

Seeks to provide growth of capital while minimizing taxable gains and income to shareholders.
Invests in growth-oriented companies believed to have above-average levels of profitability and the ability to sustain growth over the long term. Considers the following factors: brand equity, proprietary technology, economics of scale, level of intra- and inter-industry competition, operating margins, and return on capital, threat of substitute products and the interaction and bargaining power between a company, its customers, suppliers and competitors.
Potential benefits
Manager attempts to achieve high after-tax returns by balancing investment and tax considerations.
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 2/28/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 5.98% 14.97% 18.58% 15.75% 10.00% 5.58%
Fund with 5.75% sales charge -0.11% 8.36% 16.25% 14.38% 9.35% 5.16%
Fund After Taxes Pre-Liquidation 5.98% 13.09% 16.96% 14.79% 9.54% N/A
Fund After Taxes Post-Liquidation 3.38% 9.84% 16.96% 12.63% 8.22% N/A
Russell 1000 Growth TR USD 5.03% 16.24% 18.05% 17.21% 9.28% 2.08%
Lipper Large-Cap Growth Funds 4.76% 12.70% 16.89% 15.61% 8.42% N/A
Quarterly Rates of Return Average Annual Total Returns
as of 12/31/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 11.86% 11.86% 19.98% 14.05% 9.30% 5.22%
Fund with 5.75% sales charge 5.42% 5.42% 17.64% 12.70% 8.65% 4.80%
Fund After Taxes Pre-Liquidation 10.03% 10.03% 18.34% 13.11% 8.84% N/A
Fund After Taxes Post-Liquidation 8.18% 8.18% 18.34% 11.26% 7.63% N/A
Russell 1000 Growth TR USD 13.05% 13.05% 20.26% 15.81% 8.49% 1.77%
Lipper Large-Cap Growth Funds 10.49% 10.49% 19.59% 14.10% 7.61% N/A
Expense Ratios
as of 10/31/2014
Net 1.09%
Gross 1.09%
Growth of a $10,000 Investment
through 2/28/2015
 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 2/28/2015
Category: Large-Cap Growth Funds
  Rank Percentile
1 Year 210 / 697 31
3 Year 114 / 616 19
5 Year 251 / 542 47
10 Year 44 / 386 12

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

Morningstar Ratings
as of 2/28/2015
Category: Large Growth
Overall (out of 1539 Large Growth)
3 Year (out of 1539 Large Growth)
5 Year (out of 1326 Large Growth)
10 Year (out of 909 Large Growth)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 2/28/2015)
Domestic Common Stock 89.77%
Foreign Common Stock 6.79%
Cash and Cash Equivalents 3.44%
Sector Allocation
(as a % of equity holdings as of 2/28/2015)
Information Technology 25.4%
Health Care 24.3%
Consumer Discretionary 22.1%
Industrials 13.6%
Consumer Staples 8.8%
Energy 3.4%
Telecommunication Services 2.5%
Top 10 Equity Holdings
(as a % of net assets as of 2/28/2015)
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%
L Brands, Inc. operates as a specialty retailer of women?'s intimate and other apparel, beauty and personal care products, and accessories. The company was formerly known as Limited Brands, Inc. and changed its name to L Brands, Inc. in March 2013. Limited Brands, Inc. 3.5%
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 3.0%
Amazon.com, Inc. operates as an online retailer in North America and internationally.Amazon.com, Inc. 3.0%
Allergan, Inc. discovers, develops, and commercializes specialty pharmaceuticals, medical devices, and over-the-counter products for specialty markets worldwide.Allergan, Inc. 3.0%
Global customer relationship management company focused on sales, marketing and analytics.salesforce.com, Inc. 2.8%
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 2.8%
Verisk Analytics, Inc., Class A 2.7%
priceline.com, Inc. 2.7%
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. 2.5%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 12/31/2014)

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.

Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

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