Ivy Funds' [profile] parent had a rough quarter, but still managed to keep positive net flows. Today Overland Park, Kansas-based Waddell & Reed [profile] revealed in its Q4 2011 earnings report that $42 million net flowed in last quarter, down from $1.3 billion in Q3 2011 and $1.2 billion in Q4 2010 [earnings call transcript].

The Associated Press, the Kansas City Business Journal, the Kansas City Star, MarketWatch and Reuters all covered Waddell's earnings.

"The rally during this part quarter did little to improve equity appetite, as evidenced by continued industry outflows," stated Hank Hermann, chairman and CEO of Waddell. "These overarching challenges were an opportunity for us to showcase the strength of our fixed income products … Waddell & Reed's wide breadth of products, with solid investment performance records, provides us an opportunity to participate in many environments."

Waddell earned $0.47 per diluted share in Q4 2011, slightly under analysts' estimate of $0.48 and down from $0.54 in Q4 2010 but up from $0.46 in Q3 2011. Its assets under management reached $83.157 billion on December 31, 2011, up from $77.456 billion on September 30, 2011 but down slightly from $83.673 billion on December 31, 2010. 

Edited by: Neil Anderson, Managing Editor


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