Waddell & Reed, Ivy investment firms announce retirement of Vrabac

By Toni Weeks

San Luis Obispo, Calif., May 2 - Waddell & Reed Advisors Funds and Ivy Funds announced that Daniel J. Vrabac is retiring, effective June 1, and will no longer be a portfolio manager of the Waddell & Reed Advisors Global Bond Fund and the Ivy Global Bond Fund.

This leaves Mark G. Beischel as the sole portfolio manager of the two funds.

Waddell & Reed Investment Management Co. is the investment adviser of the Waddell & Reed Advisors Global Bond Fund. Ivy Investment Management Co. is the investment adviser to the Ivy Global Bond Fund. Both are based in Overland Park, Kan.

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