Waddell & Reed Science & Technology Fund
The investment aim of Waddell & Reed Science & Technology Fund is to achieve capital growth. The mutual fund utilizes its assets to purchase securities of science or technology. It may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities. The fund may invest in securities issued by companies of any size, and may invest without limitation in foreign securities, including securities of issuers within emerging markets.Fund Profile
- Fund Inception Date: 05/16/1950
- Ticker Symbol: UNSCX
- CUSIP: 930057500
- Beta (3yr): 0.97
- Rank in category (YTD): 4%
- Category: Technology
- Distribution: 0.00%
- Capital Gains: 0%
- Expense Ratio: 1.37%
- Net Assets: $ 2.8 billion
- Number of Years Up: 42 years
- Number of Years Down: 20 years
- Annual Turnover Rate: 42%
Zachary H. Shafran has been managing this fund for 12 years. The expense ratio fee is 1.37% per year. The average fee in Technology category is 1.57%. The fund’s dividend is distributed every June and December. This technology equity fund has total net assets of $2.8 billion. The 3-year beta risk is 0.97.
Technology Mutual Fund
The YTD return of this UNSCX fund as of June 21, 2013 is 18.04%. Morningstar analysts rate this fund with 5-stars and Bronze rating. This stock fund uses Mid Growth investment style. S&P North American Technology TR is the fund’s benchmark. Been in the market for more than 60 years, the fund has its best total return in 1999 with 102.93% and the worst return in 2008 with -33.25%. Based on the load adjusted returns, the fund has returned 12.21% for the past 3-year and 12.77% over the past 10-year.Besides the A Class, this fund is also available in Class B (USTBX), Class C (WCSTX) and Class Y (USTFX). Investor can buy this mutual fund from the following brokerages: Raymond James, Pershing Fund Center, Schwab Retail, JP Morgan, UBS Financial Services Inc, Matrix Financial Solutions, ING Financial Advisers, etc. The minimum initial investment is $500 with no minimum subsequent investment. There is 0.25% 12b1 fee and 5.75% front-end sales load fee.
As of May 2013, United States is the top country allocation for this fund with 84.8% of equity holdings. The top equity holdings are Micron Technology Inc (6.5%), Cree Inc (6.2%), Aspen Technology Inc (5.8%), Alliance Data Systems Corporation (5.0%), Vertex Pharmaceuticals Incorporated (4.1%), Google Inc (3.6%), Acxiom Corporation (3.4%), United Health Group Incorporated (3.3%), Samsung Electronics Co Ltd (3.3%) and ACI Worldwide Inc (3.3%). The top sectors are Information Technology (61.0%) and Health Care (20.2%).
There are several primary risks for investing in this fund, such as company risk, concentration risk, emerging market risk, foreign exposure risk, foreign securities risk, growth stock risks, holdings risk, large company risk, liquidity risk, management risk, market risk, mid-size company risk, science and technology industry risk and small company risk.
Disclosure: No Position
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