For some mutual fund firms, one challenge has been not to let sales be dependent on just a hot product or two.
In the case of Waddell & Reed
, which runs the Ivy Funds
company officials said Tuesday they're continuing to improve sales in products beyond their two best-sellers,
the Asset Strategy
and Global Natural Resources
In the first quarter, the firm recorded gross sales of $900 million in other products,
up from $800 million in the final quarter of 2009 and $600 million in the first
quarter of last year.
"The number of products experiencing meaningful sales continues to expand," company officials
said in a news release on Tuesday.
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