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Products February 9, 2017
Waddell & Reed Files for Registration of New Index Funds
The five new index funds include the first passively managed funds that would be managed by the firm.
Reported by Javier Simon
Waddell & Reed Financial has filed a registration statement with the Securities and Exchange Commission (SEC) to register five new index funds, including the first passively managed funds that would be managed by the firm.
The proposed funds are the Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, the Ivy ProShares Russell 2000 Dividend Growers Index Fund, the Ivy ProShares MSCI ACWI Index Fund, the Ivy ProShares S&P 500 Bond Index Fund, and the Ivy ProShares Interest Rate Hedged High Yield Index Fund.
“We chose these five categories precisely because they complement our active product lineup, and they are differentiated styles, outside of what we believe are more commoditized passive asset classes commonly available elsewhere,” the firm said in a statement.
These funds would be managed by IICO and sub-advised by ProShare Advisors, the adviser to the ProShares ETF lineup. The firms expects these funds to become effective in April. They would be offered by Ivy Distributors, through the Waddell & Reed broker-dealer, as well as through unaffiliated distribution.
Share class and expense information will be available as the funds become effective.