New York - London - Athens - Oslo

Morningstar, Inc. Commentaries

CEF Update (7/15/14): News You Can Use

Jul 15, 2014
Click here to access CEF Update: News You Can Use

Manager Change

Waddell & Reed announced that the lead portfolio manager of several of its high-yield bond funds, William  Nelson, was terminated from the firm for causes unrelated to his portfolio-management responsibilities. Nelson was appointed manager of the fund following the departure of previous lead manager Bryan Krug, who left the firm in November 2013 to join Artisan Partners. Chad Gunther, an 11-year veteran at Waddell & Reed, will replace Nelson as lead manager on several funds, including Ivy High Income Opportunities (IVHand its open-end counterpart,  Ivy High Income (IVHIX).

provided by:

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individuals, financial advisors, and institutions.

Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services and has approximately $195 billion in assets under advisement or management as of Sept. 30, 2012. We have operations in 27 countries.