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Waddell & Reed Financial, Inc. Announces Assets Under Management

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Waddell & Reed Financial, Inc. (NYSE:WDR) today reported preliminary
assets under management of $80.9 billion for the month ended May 31,
2017, compared to $81.1 billion on March 31, 2017. The company had
outflows of $1.4 billion during the month of April and $0.5 billion
during the month of May, which were offset by positive market action in
both months. Outflows in our unaffiliated retail channel in May were at
their lowest levels since April 2014. Assets under management were $81.5
billion on June 8, an increase of 0.5% quarter to date.

Net Flows

($ in Millions)

   

Retail

       

Month Ended

Unaffiliated

   

Broker-Dealer

   

Institutional

   

Total

April 2017

(383 )     (242 ) (742 ) (1,367 )

May 2017

(31 ) (282 ) (150 ) (463 )
 
 

The purpose of this release is to clarify flow data during the quarter
in light of reported industry data. We expect to announce second quarter
results on Tuesday, August 1, 2017.

Cautionary Statement

We have not yet finalized assets under management as of May 31, 2017.
The preliminary information included in this news release reflects
management's estimate based on currently available information.
Estimates
are subject to change. Accordingly, you should not place undue reliance
upon this preliminary information.

About the Company

Waddell & Reed, Inc., founded in 1937, is one of the oldest mutual
fund complexes in the United States, having introduced the Waddell &
Reed Advisors Group of Mutual Funds in 1940. Today, we distribute our
investment products through the retail unaffiliated distribution channel
(encompassing broker/dealer, retirement, and registered investment
advisors), our retail broker-dealer channel (through financial
advisors), and our Institutional channel (including defined benefit
plans, pension plans and endowments, and our subadvisory partnership
with Mackenzie in Canada).

Through its subsidiaries, Waddell & Reed Financial, Inc. provides
investment management and financial planning services to clients
throughout the United States and internationally. Waddell & Reed
Investment Management Company serves as investment adviser to the
Waddell & Reed Advisors Group of Mutual Funds, while Ivy Investment
Management Company serves as investment adviser to Ivy Funds, Ivy
NextShares, Ivy Variable Insurance Portfolios and InvestEd Portfolios,
and investment adviser and global distributor to the Ivy Global
Investors SICAV, an umbrella UCITS fund range domiciled in Luxembourg.
Waddell & Reed, Inc. serves as principal underwriter and distributor to
the Waddell & Reed Advisors Group of Mutual Funds and InvestEd
Portfolios, while Ivy Distributors, Inc. serves as principal underwriter
and distributor to Ivy Funds and Ivy Variable Insurance Portfolios.

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