Zamansky LLC Investigates The Ivy Asset Strategy and Waddell & Reed Asset Strategy Funds For Potential Breaches of Duties to Shareholders | Law Firm Newswire

Zamansky LLC Investigates The Ivy Asset Strategy and Waddell & Reed Asset Strategy Funds For Potential Breaches of Duties to Shareholders

ZA-Logo-Color-hires1New York, NY (Law Firm Newswire) February 04, 2016 - Zamansky LLC announces that it is investigating the Ivy Asset Strategy Fund and the Waddell and Reed Asset Strategy Fund for potential breaches of fiduciary duties to shareholders.

The Ivy Asset Strategy Fund and the Waddell & Reed Asset Strategy Fund are total return mutual funds registered under the Investment Company Act of 1940. Both funds are managed by subsidiaries of Waddell & Reed Financial Inc., a public company with over $71 billion under management. The Funds’ symbols are Ivy Asset Strategy: WASAX, WASBX and WASCX; and Waddell & Reed Asset Strategy Fund: UNASX, WCASX and WBASX.

On May 15, 2014, Ryan C. Caldwell, a co-portfolio manager for both Funds, resigned. At the time, the Ivy Asset Strategy Fund had approximately $35 billion in assets under management, and was trading at $30 per share. Since his resignation, the Ivy Asset Strategy Fund has fallen by more than 30% in value, and has lost billions of dollars in assets. The fund now trades at $21 per share.

According to Jake Zamansky, investment fraud attorney, the Ivy Asset Strategy Fund has performed far worse over this time than the Dow Jones or S&P 500 Indexes. The Waddell & Reed Asset Strategy Fund similarly underperformed, he states. "We are examining the departure of Mr. Caldwell and whether the Funds breached duties owed to shareholders," Zamansky says.

What Ivy Asset Strategy Fund or Waddell & Reed Asset Strategy Fund Investors Can Do

If an investor holding these funds, wishes to review the investment or discuss their legal rights, they may, without obligation or cost, email jake@zamansky.com or call the law firm at (212) 742-1414.

About Zamansky LLC

Zamansky LLC is a leading investment fraud law firm specializing in securities, hedge fund and shareholder class action litigation, and FINRA securities arbitration. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.

Contact:

Zamansky LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
jake@zamansky.com

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