UMUHX - Waddell & Reed Muni Hi-Inc A

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Waddell & Reed Muni Hi-Inc A

Waddell & Reed Advisors Funds

6300 Lamar Avenue

Overland Park KS 66202

888-923-3355
Management Information
Michael J. Walls,Lead Manager since August 14, 2008
Mr. Walls is Senior Vice President of WRIMCO and IICO, Vice President of the Trust, and Vice President of and portfolio manager for another investment company for which IICO serves as investment manager. He has served as a portfolio manager with IICO since March 2007, and has been an employee of WRIMCO since March 1999, joining the company as an investment analyst. He earned a BA in economics and German from Denison University, and an MBA with an emphasis in finance from Xavier University. Mr. Walls holds a Certificate of General Insurance.
Morningstar Style Box
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Morningstar Category
While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

Fund Overview

CategoryHigh Yield Muni
Fund FamilyWaddell & Reed
Net Assets710.05M
YTD Return-0.29%
Yield4.28%
Morningstar Rating★★★★
Inception DateJan 20, 1986

Fund Operations

Last Dividend0.02
Last Cap Gain0.00
Holdings Turnover9.00%
Average for CategoryN/A

Fees & Expenses

ExpenseUMUHXCategory Average
Annual Report Expense Ratio (net)0.89%0.94%
Prospectus Net Expense Ratio0.89%N/A
Prospectus Gross Expense Ratio0.89%N/A
Max 12b1 Fee0.25%N/A
Max Front End Sales Load4.25%3.74%
Max Deferred Sales LoadN/A1.60%
3 Yr Expense Projection697N/A
5 Yr Expense Projection897N/A
10 Yr Expense Projection1,474N/A