Waddell & Reed details methods for obtaining lower class A sales load

By Toni Weeks

San Diego, Feb. 17 - Waddell & Reed Advisors Equity Funds announced in a 497 filing with the Securities and Exchange Commission changes to shareholder's methods for obtaining lower sales charges on the purchase of class A shares.

Lower sales charges are now available by combining the value of additional purchases of shares for any of the Waddell & Reed Advisors Funds and/or InvestEd Portfolios with the net asset value of class A, class B, class C or class E shares already held. Previously, the net asset value of only class A, class B and class C shares could be accumulated for that purpose.

In addition, purchases that are initiated prior to the 13-month period following a letter of intent, which indicates an intention to invest a dollar amount sufficient to qualify for a reduced sales charge, are now eligible for grouping. In cases of a rollover or transfer from another institution, the assets must be received by the transfer agent in 90 days or less after the initial date of the transaction. Previously, purchases made during 30 days before the transfer agent's receipt of a letter of intent were considered for the grouping.

Shawnee Mission, Kan.-based Waddell & Reed Investment Management Co., or Wrimco, serves as investment adviser to the funds.

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