NEW YORK–(BUSINESS WIRE)–Macquarie Asset Administration (MAM), the asset administration division of Macquarie Group (ASX: MQG; ADR: MQBKY), right this moment introduced the completion of its acquisition of Waddell & Reed Monetary, Inc. (NYSE: WDR), one of many oldest asset and wealth administration firms in the USA.
Concurrent with the completion of the transaction, Macquarie offered WDR’s wealth administration platform to LPL Monetary Holdings Inc. (Nasdaq: LPLA), a number one US retail funding advisory agency, impartial broker-dealer, and registered funding advisor custodian. In reference to this transaction, Macquarie and LPL have entered right into a long-term partnership, with Macquarie changing into one among LPL’s top-tier strategic asset administration companions.
Shawn Lytle, President of Delaware Funds® by Macquarie and Head of Macquarie Group within the Americas, stated, “We’re happy to welcome the Ivy Funds shareholders to the Delaware Funds by Macquarie. Each fund households have a shared concentrate on delivering sturdy funding outcomes and a very good shopper expertise for all. This mix, together with our enhanced partnership with LPL, unlocks substantial worth for Waddell & Reed advisors and their purchasers.”
LPL Monetary President and Chief Government Officer Dan Arnold stated, “Waddell & Reed advisors are seasoned and well-regarded all through the trade and are a robust cultural and strategic match with us. We stay up for supporting them with our complete platform that helps them design and function the right apply for them and their purchasers. Waddell & Reed and Macquarie have been sturdy companions all through the method, and we stay up for our ongoing collaboration.”
MAM will retain Waddell & Reed Monetary, Inc.’s asset administration enterprise, bringing $US76 billion in property beneath administration. The transaction will end in MAM changing into a prime 201 actively managed, long-term open-end US mutual fund supervisor by property beneath administration.
About Macquarie Asset Administration
Macquarie Asset Administration (MAM) is a specialist world asset supervisor, offering funding options throughout a variety of capabilities together with infrastructure & renewables, actual property, agriculture, asset finance, non-public credit score, equities, fastened earnings and multi-asset options.
As at 31 December 2020, MAM had $A550.9 billion of property beneath administration and over 1,900 workers working throughout 20 markets in Australia, the Americas, Europe and Asia.
MAM has been managing property for institutional and retail traders since 1980 in Australia and in the USA, retail traders acknowledge Delaware Funds® by Macquarie household of funds as one of many longest standing mutual fund households, with greater than 80 years in existence.
Macquarie Funding Administration (MIM) is the advertising title for sure firms comprising the asset administration division of Macquarie Group. Funding merchandise and advisory companies are distributed and provided by and referred via associates which embrace Delaware Distributors, L.P., a registered dealer/supplier and member of the Monetary Trade Regulatory Authority (FINRA) and Macquarie Funding Administration Enterprise Belief (MIMBT), a Securities and Alternate Fee (SEC)-registered funding advisor. Funding advisory companies are offered by a sequence of MIMBT. Macquarie Group refers to Macquarie Group Restricted and its subsidiaries and associates worldwide. Delaware Funds® by Macquarie refers to sure funding options that MIM distributes, gives, refers, or advises.
© 2021 Macquarie Administration Holdings, Inc. 1627200.
Rigorously think about the Funds’ funding aims, threat elements, costs, and bills earlier than investing. This and different info will be discovered within the Funds’ prospectuses and their abstract prospectuses, which can be obtained by visiting delawarefunds.com/literature or calling 800 523-1918. Buyers ought to learn the prospectus and the abstract prospectus fastidiously earlier than investing.
1 Supply: Belongings beneath administration as at 31 March 2021. Primarily based on knowledge represented in Strategic Perception and Morningstar. Knowledge embrace ICI Technique of Gross sales: Salesforce, institutional, direct market, and retirement. Knowledge exclude variable insurance coverage merchandise, closed-end funds, ETFs, passive mutual funds, cash market funds, and Optimum Funds.