Waddell & Reed eliminates 2% redemption fee for all of its funds

By Toni Weeks

San Diego, Dec. 9 - Waddell & Reed Advisors Funds said it will no longer impose a redemption fee, according to a 497K filing with the Securities and Exchange Commission.

The fee change affects all Waddell & Reed Advisors Funds and is effective Jan. 1. Previously, Waddell & Reed imposed a redemption fee of 2% of the amount redeemed within fewer than five days.

Waddell & Reed Investment Management Co., the funds' investment manager, is based in Shawnee Mission, Kan.

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