Fund Description

The fund was incepted in April 1995 and is managed by Waddell & Reed Investment Management Company (WRIMCO). The fund seeks high total return over the long-term by primarily investing its assets among stocks, bonds and short-term instruments in both United States and abroad. The fund's assets are allocated in a mix that varies based on the current outlook for the different markets. The stock class includes equity securities of all types, although the fund's investment manager, typically emphasizes a blend of value and growth potential in selecting stocks. The bond class includes all varieties of fixed-income instruments, such as corporate or U.S. Government debt securities, with remaining maturities of more than three years. The short-term class includes all types of short-term instruments with remaining maturities of three years or less, including high-quality money market instruments. Dividends are paid quarterly and capital gains, if any, are distributed annually.