Waddell & Reed Financial Inc.’s two mutual fund groups fared well in Barron’s annual ranking of the best mutual fund families for 2013, ranking No. 5 among 64 fund groups.
Waddell & Reed’s funds showed their “strongest result” in mixed funds that hold stocks and bonds, the financial publication said in its latest issue.
Hank Herrmann, chief executive officer of Overland Park, Kan.-based Waddell & Reed, said last year’s strong stock market made the work seem easier than it was. “We have some 80 people focused on bottoms-up research,” Herrmann told Barron’s, “and that paid off.”
In the 2013 rankings, the Waddell Funds finished in the top 20 in each of the five categories, and the Ivy Fund family ranked 11th in the 2013 listing.