Waddell & Reed

Portfolio Perspectives

The Fund's portfolio management team thinks the risks of a monetary policy mistake are greater today than they have been in some time. They explore the backdrop of global central bank policies and discuss the Fund’s positioning going into 2015.
A variety of factors have combined to push oil prices down to levels not seen since mid-2009. The decline has had a significant effect on stocks and has become a factor in the growth outlook for the U.S. and global economies.
Ivy Funds recently launched the Ivy Mid Cap Income Opportunities Fund, an equity portfolio focusing primarily on income-producing mid-capitalization companies. It seeks companies believed to offer the opportunity to provide sustainable or increasing dividends.
We think the Fed will be cautious with rate comments to avoid again causing market volatility. That may mean a bond market that tries to anticipate Fed moves and interest rates that stay in the lower end of a 2.5 to 3.5% range.
In August, Matt Hekman was named portfolio manager of the Waddell & Reed Advisors Continental Income Fund, taking over management duties from Cynthia Prince-Fox, who joined the Asset Strategy team. Learn more about Matt’s experience and the Fund’s current strategy.
The high-yield fixed income market suffered a bout of the summertime blues, potentially giving investors a few points to consider about their high-yield strategies.
Booming oil output from U.S. shale basins is spurring growth across the industry and the economy, generating potential opportunities for investors.
We still think equities are more attractive relative to other asset classes. However, their gains in recent years are raising concerns about valuation levels at this point in the cycle.
Municipal bond fund investors may be concerned about recent municipal finance headlines. Michael Walls, portfolio manager of the WRA Municipal High Income Fund, takes a look at the downgrade of Puerto Rico’s credit rating.

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