Waddell & Reed Plans Tax-Managed Fund
February 14, 2000
The money management arm of Waddell & Reed Financial of Overland Park, Kan. is planning to offer a tax-managed fund.
Waddell & Reed Investment Management Company has formed the United Tax-Managed Equity Fund, according to a registration statement filed with the SEC Jan. 20. United Tax-Managed Equity expects to invest primarily in mid- and large-cap companies, according to the registration statement. The fund's long-term goal is growth while minimizing taxable gains and income.
Cynthia P. Prince-Fox will be the primary portfolio manager of the fund, according to the registration statement.