Waddell & Reed
is continuing with its efforts to rebrand its funds to better focus of differing distribution channels. In this case the fund company renamed its Advisors Income Fund
to the Advisors Core Investment Fund
and its W&R Total Return Fund
to the W&R Core Equity Fund
. Both changes take effect October 2.
Last June, the fund company announced that it was renaming the United Group of Mutual Funds to "Waddell & Reed Advisors Funds" and the Waddell & Reed fund family will be renamed "W&R Funds,". The Waddell & Reed Advisors Funds will continue to be available for sale only by Waddell & Reed's proprietary sales force, comprising about 2,600 financial advisors.
In this case the name changes were made to better clarify the fund's roles in investors portfolios and their competitive universe, said Thomas Butch, chief marketing officer. Both funds had been reclassified to large cap core from equity income by Lipper Analytical Services in 1999. Butch said that the reclassification played a role in the decision to change the fund names.
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