Assets Rise at Waddell & Reed
A market-timing settlement took a bite out of Waddell & Reed's (WDR) second-quarter results, leading to a wider loss for the period.
Still, shares of the Kansas-based mutual fund manager moved higher Tuesday as the company managed to eke out gains in assets under management, despite a volatile equities market.
For the second quarter, Waddell & Reed posted a loss of $33 million, or 40 cents a share, for the second quarter, widened from a loss of $7.1 million, or 9 cents a share, a year earlier.
The latest quarter's results included a pretax charge of $55 million, or 48 cents a share, to
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