Waddell & Reed

Portfolio Perspectives

WRA New Concepts Fund | In this commentary, Portfolio Manager Kimberly Scott provides deeper insight into factors leading to the Fund’s underperformance, which includes: underexposure to momentum; outsized exposure to energy; and weakness in many of the consumer names
WRA Asset Strategy Fund | Global economic growth is slow, central bank monetary policy is dominant, the stock market is driven by momentum and focused on safety – where can investors find opportunity in this uncertain environment?
WRA Energy Fund | Waddell & Reed Energy Fund Portfolio Manager David P. Ginther, CPA shares his thoughts on current trends in the energy marketplace, along with tips for investors.
Ivy Global Income Allocation Fund | Investors have been on a wild ride as of late. In this commentary, Jeff Surles, portfolio manager of Ivy Global Income Allocation Fund, offers insight to where he is finding compelling income opportunities in a roller-coaster market.
WRA High Income Fund | Volatility sparked by events on a number of fronts may be challenging high-yield investors, but it may also create some opportunities.
Ivy Emerging Markets Equity Fund |We think a valuations gap versus developed markets means there are opportunities in high-quality, emerging market companies. We also see slower growth in China next year, but believe it will stay close to 2015's rate.
WRA Energy Fund| A strong U.S. dollar and an economic slowdown in China are adding to the pressure on oil prices.
WRA Asset Strategy Fund | Global markets have become more volatile this summer, reflecting investor uncertainty about global economic growth, the direction of interest rates and the opportunities to generate positive investment returns.
WRA Continental Income Fund's flexible mandate allows us to invest among a variety of different investment vehicles, and offers the opportunity to take advantage of volatility when it happens.
We have weighted the Fund heavily with what we believe are attractive global companies that offer goods/services aimed at pockets of global growth.
We think the underlying economic and market conditions still are supportive for the global real estate sector and publicly traded real estate companies.
WRA Energy Fund | Oil prices still are a key topic for investors. We believe most of the bad news for oil is behind us.
WRA Municipal High Income Fund | Volatility has been an ongoing concern for municipal bond investors seeking potential tax-free income.

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