Fund Description

The fund was incepted in October 1999 and is managed by Waddell & Reed Investment Management Company (WRIMCO). The goal of the fund is growth of capital. The fund seeks to achieve its goal by investing primarily in common stocks of small cap companies (domestic and foreign) that are relatively new or unseasoned, companies in their early stages of development, or smaller companies positioned in new or emerging industries where there is an opportunity for rapid growth. The fund may occasionally invest in securities of larger companies that, in WRIMCO's opinion, are being fundamentally changed or revitalized, have a position that is considered strong relative to the market as a whole or otherwise offer unusual opportunities for above average growth. Dividends and capital gains, if any, are distributed annually.