0001193125-13-164791.txt : 20130422 0001193125-13-164791.hdr.sgml : 20130422 20130422151808 ACCESSION NUMBER: 0001193125-13-164791 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130422 DATE AS OF CHANGE: 20130422 EFFECTIVENESS DATE: 20130422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WADDELL & REED ADVISORS FUNDS CENTRAL INDEX KEY: 0001072962 IRS NUMBER: 481216799 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-82447 FILM NUMBER: 13773652 BUSINESS ADDRESS: STREET 1: 6300 LAMAR AVE CITY: OVERLAND PARK STATE: KS ZIP: 66202 BUSINESS PHONE: 9132362000 MAIL ADDRESS: STREET 1: P O BOX 29217 CITY: SHAWNEE MISSION STATE: KS ZIP: 66201-9217 FORMER COMPANY: FORMER CONFORMED NAME: WADDELL & REED ADVISORS SMALL CAP FUND INC DATE OF NAME CHANGE: 20000829 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SMALL CAP FUND INC DATE OF NAME CHANGE: 19990615 0001072962 S000024813 Waddell & Reed Advisors Asset Strategy Fund C000073818 Class A UNASX C000073819 Class B WBASX C000073820 Class C WCASX C000073821 Class Y WYASX 497 1 d516632d497.htm WADDELL & REED ADVISORS EQUITY FUNDS <![CDATA[Waddell & Reed Advisors Equity Funds]]>

WADDELL & REED ADVISORS FUNDS

6300 LAMAR AVENUE

P. O. BOX 29217

SHAWNEE MISSION, KANSAS 66201-9217

April 22, 2013

Securities and Exchange Commission

100 F Street NE

Washington DC 20549

 

Re: Waddell & Reed Advisors Funds (Registrant)
  File Nos. 333-82447 and 811-09435/CIK No. 1072962

On behalf of the Registrant, attached for filing are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information contained in the Registrant’s Prospectus dated October 31, 2012, and as supplemented April 5, 2013, and filed pursuant to Rule 497(e) under the Securities Act of 1933, as amended. The purpose of this filing is to submit the data in XBRL format for the Registrant.

If you have any questions or comments concerning the foregoing, please contact me at 913-236-2227.

Very truly yours,

/s/Philip A. Shipp

Philip A. Shipp

Assistant Secretary

EX-101.INS 2 wraf5-20130409.xml XBRL INSTANCE DOCUMENT 0001072962 2011-11-01 2012-10-31 0001072962 wraf5:S000024813Member 2011-11-01 2012-10-31 2012-10-31 WADDELL & REED ADVISORS FUNDS 0001072962 2013-04-05 2013-04-05 2012-06-30 Other false <p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="5">Waddell&nbsp;&amp; Reed Advisors Funds</font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 12px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>Supplement dated April&nbsp;5, 2013 to the</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>Waddell&nbsp;&amp; Reed Advisors Equity Funds Prospectus</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>dated October&nbsp;31, 2012</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>and as supplemented January&nbsp;2, 2013 and January&nbsp;31, 2013</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 6px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><i></i><b><i>The following is added as a new paragraph following the second paragraph of the "Waddell&nbsp;&amp; Reed Advisors Asset Strategy Fund &#8212; Principal Investment Strategies" section on page 40 of the Waddell&nbsp;&amp; Reed Advisors Equity Funds Prospectus:</i></b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 6px; margin-bottom: 0px;"><font size="2">The Fund may gain exposure to commodities, including precious metals, derivatives and commodity-linked instruments by investing in a subsidiary organized in the Cayman Islands (the "Subsidiary"). The Subsidiary is wholly owned and controlled by the Fund. Should the Fund invest in the Subsidiary, it would be expected to provide the Fund with exposure to investment returns from commodities, derivatives and commodity-linked instruments within the limits of the federal tax requirements applicable to investment companies, such as the Fund. The Subsidiary is subject to the same general investment policies and restrictions as the Fund, except that unlike the Fund, the Subsidiary is able to invest without limitation in commodities, derivatives and commodity-linked instruments and, to the extent the Subsidiary invests in derivative instruments, may use leveraged investment techniques.</font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 6px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><i></i><b><i>The following is added as a new paragraph following the last bullet point in the "Waddell&nbsp;&amp; Reed Advisors Asset Strategy Fund &#8212; Principal Investment Risks" section on page 42 of the Waddell&nbsp;&amp; Reed Advisors Equity Funds Prospectus:</i></b></font></p><p style="font-family: 'Times New Roman'; font-size: 6px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p><table border="0" cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse;"><tr><td width="1%" valign="top" align="left"><font size="2"><font size="2"><font style="font-family: WINGDINGS;"></font></font><font size="2"></font></font></td><td width="1%" valign="top"><font size="1">&nbsp;</font></td><td align="left" valign="top"><ul type="square"><li style="margin-left:-30px"><p align="left"><font size="2" style="font-family: 'Times New Roman';"></font><font size="2" style="font-family: ARIAL;">Subsidiary Investment Risk.</font><font size="2" style="font-family: 'Times New Roman';">&nbsp;By investing in the Subsidiary, the Fund is exposed to the risks associated with the Subsidiary's investments. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the "1940 Act"), and is not subject to all of the investor protections of the 1940 Act. Thus, the Fund, as an investor in the Subsidiary, would not have all of the protections offered to investors in registered investment companies. However, because the Fund wholly owns and controls the Subsidiary, and the Fund and Subsidiary are managed by WRIMCO, it is unlikely that the Subsidiary would take action contrary to the interests of the Fund or the Fund's shareholders. In addition, changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary are organized, respectively, could result in the inability of the Fund and/or the Subsidiary to operate as intended and could negatively affect the Fund and its shareholders. Although under the federal tax law, the Fund may not earn more than 10% of its annual gross income from gains resulting from selling commodities (and other non-qualifying income), the Fund has received an opinion of counsel, which is not binding on the Internal Revenue Service or the courts, that income the Fund receives from the Subsidiary should constitute qualifying income.</font></p></li></ul></td></tr></table> <p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="5">Waddell&nbsp;&amp; Reed Advisors Funds</font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 12px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>Supplement dated April&nbsp;5, 2013 to the</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>Waddell&nbsp;&amp; Reed Advisors Equity Funds Prospectus</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>dated October&nbsp;31, 2012</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 0px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><b>and as supplemented January&nbsp;2, 2013 and January&nbsp;31, 2013</b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 6px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><i></i><b><i>The following is added as a new paragraph following the second paragraph of the "Waddell&nbsp;&amp; Reed Advisors Asset Strategy Fund &#8212; Principal Investment Strategies" section on page 40 of the Waddell&nbsp;&amp; Reed Advisors Equity Funds Prospectus:</i></b></font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 6px; margin-bottom: 0px;"><font size="2">The Fund may gain exposure to commodities, including precious metals, derivatives and commodity-linked instruments by investing in a subsidiary organized in the Cayman Islands (the "Subsidiary"). The Subsidiary is wholly owned and controlled by the Fund. Should the Fund invest in the Subsidiary, it would be expected to provide the Fund with exposure to investment returns from commodities, derivatives and commodity-linked instruments within the limits of the federal tax requirements applicable to investment companies, such as the Fund. The Subsidiary is subject to the same general investment policies and restrictions as the Fund, except that unlike the Fund, the Subsidiary is able to invest without limitation in commodities, derivatives and commodity-linked instruments and, to the extent the Subsidiary invests in derivative instruments, may use leveraged investment techniques.</font></p><p style="font-family: 'Times New Roman'; font-size: medium; margin-top: 6px; margin-bottom: 0px;"><font size="2" style="font-family: ARIAL;"><i></i><b><i>The following is added as a new paragraph following the last bullet point in the "Waddell&nbsp;&amp; Reed Advisors Asset Strategy Fund &#8212; Principal Investment Risks" section on page 42 of the Waddell&nbsp;&amp; Reed Advisors Equity Funds Prospectus:</i></b></font></p><p style="font-family: 'Times New Roman'; font-size: 6px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p><table border="0" cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse;"><tr><td width="1%" valign="top" align="left"><font size="2"><font size="2"><font style="font-family: WINGDINGS;"></font></font><font size="2"></font></font></td><td width="1%" valign="top"><font size="1">&nbsp;</font></td><td align="left" valign="top"><ul type="square"><li style="margin-left:-30px"><p align="left"><font size="2" style="font-family: 'Times New Roman';"></font><font size="2" style="font-family: ARIAL;">Subsidiary Investment Risk.</font><font size="2" style="font-family: 'Times New Roman';">&nbsp;By investing in the Subsidiary, the Fund is exposed to the risks associated with the Subsidiary's investments. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the "1940 Act"), and is not subject to all of the investor protections of the 1940 Act. Thus, the Fund, as an investor in the Subsidiary, would not have all of the protections offered to investors in registered investment companies. However, because the Fund wholly owns and controls the Subsidiary, and the Fund and Subsidiary are managed by WRIMCO, it is unlikely that the Subsidiary would take action contrary to the interests of the Fund or the Fund's shareholders. In addition, changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary are organized, respectively, could result in the inability of the Fund and/or the Subsidiary to operate as intended and could negatively affect the Fund and its shareholders. Although under the federal tax law, the Fund may not earn more than 10% of its annual gross income from gains resulting from selling commodities (and other non-qualifying income), the Fund has received an opinion of counsel, which is not binding on the Internal Revenue Service or the courts, that income the Fund receives from the Subsidiary should constitute qualifying income.</font></p></li></ul></td></tr></table> EX-101.SCH 3 wraf5-20130409.xsd XBRL TAXONOMY EXTENSION SCHEMA 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000010 - Document - Risk/Return Supplement {Unlabeled} - Waddell & Reed Advisors Asset Strategy Fund link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - Waddell & Reed Advisors Asset Strategy Fund link:presentationLink link:calculationLink link:definitionLink 000012 - Schedule - Shareholder Fees {- Waddell & Reed Advisors Asset Strategy Fund} link:presentationLink link:calculationLink link:definitionLink 000013 - Schedule - Annual Fund Operating Expenses {- Waddell & Reed Advisors Asset Strategy Fund} link:calculationLink link:presentationLink link:definitionLink 000014 - Schedule - Expense Example {Transposed} {- Waddell & Reed Advisors Asset Strategy Fund} link:presentationLink link:calculationLink link:definitionLink 000015 - Schedule - Expense Example, No Redemption {Transposed} {- Waddell & Reed Advisors Asset Strategy Fund} link:presentationLink link:calculationLink link:definitionLink 000016 - Schedule - Annual Total Returns - Waddell & Reed Advisors Asset Strategy Fund [BarChart] link:presentationLink link:calculationLink link:definitionLink 000017 - Schedule - Average Annual Total Returns {Transposed} {- Waddell & Reed Advisors Asset Strategy Fund} link:presentationLink link:calculationLink link:definitionLink 000018 - Document - Risk/Return Detail {Unlabeled} - Waddell & Reed Advisors Asset Strategy Fund link:presentationLink link:calculationLink link:definitionLink 000019 - Disclosure - Risk/Return Detail Data {Elements} - Waddell & Reed Advisors Asset Strategy Fund link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 wraf5-20130409_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 wraf5-20130409_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 wraf5-20130409_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 7 wraf5-20130409_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 8 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; 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Waddell & Reed Advisors Funds

Supplement dated April 5, 2013 to the

Waddell & Reed Advisors Equity Funds Prospectus

dated October 31, 2012

and as supplemented January 2, 2013 and January 31, 2013

The following is added as a new paragraph following the second paragraph of the "Waddell & Reed Advisors Asset Strategy Fund — Principal Investment Strategies" section on page 40 of the Waddell & Reed Advisors Equity Funds Prospectus:

The Fund may gain exposure to commodities, including precious metals, derivatives and commodity-linked instruments by investing in a subsidiary organized in the Cayman Islands (the "Subsidiary"). The Subsidiary is wholly owned and controlled by the Fund. Should the Fund invest in the Subsidiary, it would be expected to provide the Fund with exposure to investment returns from commodities, derivatives and commodity-linked instruments within the limits of the federal tax requirements applicable to investment companies, such as the Fund. The Subsidiary is subject to the same general investment policies and restrictions as the Fund, except that unlike the Fund, the Subsidiary is able to invest without limitation in commodities, derivatives and commodity-linked instruments and, to the extent the Subsidiary invests in derivative instruments, may use leveraged investment techniques.

The following is added as a new paragraph following the last bullet point in the "Waddell & Reed Advisors Asset Strategy Fund — Principal Investment Risks" section on page 42 of the Waddell & Reed Advisors Equity Funds Prospectus:

 

 
  • Subsidiary Investment Risk. By investing in the Subsidiary, the Fund is exposed to the risks associated with the Subsidiary's investments. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the "1940 Act"), and is not subject to all of the investor protections of the 1940 Act. Thus, the Fund, as an investor in the Subsidiary, would not have all of the protections offered to investors in registered investment companies. However, because the Fund wholly owns and controls the Subsidiary, and the Fund and Subsidiary are managed by WRIMCO, it is unlikely that the Subsidiary would take action contrary to the interests of the Fund or the Fund's shareholders. In addition, changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary are organized, respectively, could result in the inability of the Fund and/or the Subsidiary to operate as intended and could negatively affect the Fund and its shareholders. Although under the federal tax law, the Fund may not earn more than 10% of its annual gross income from gains resulting from selling commodities (and other non-qualifying income), the Fund has received an opinion of counsel, which is not binding on the Internal Revenue Service or the courts, that income the Fund receives from the Subsidiary should constitute qualifying income.

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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName WADDELL & REED ADVISORS FUNDS
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Supplement [Text Block] wraf5_SupplementTextBlock

Waddell & Reed Advisors Funds

Supplement dated April 5, 2013 to the

Waddell & Reed Advisors Equity Funds Prospectus

dated October 31, 2012

and as supplemented January 2, 2013 and January 31, 2013

The following is added as a new paragraph following the second paragraph of the "Waddell & Reed Advisors Asset Strategy Fund — Principal Investment Strategies" section on page 40 of the Waddell & Reed Advisors Equity Funds Prospectus:

The Fund may gain exposure to commodities, including precious metals, derivatives and commodity-linked instruments by investing in a subsidiary organized in the Cayman Islands (the "Subsidiary"). The Subsidiary is wholly owned and controlled by the Fund. Should the Fund invest in the Subsidiary, it would be expected to provide the Fund with exposure to investment returns from commodities, derivatives and commodity-linked instruments within the limits of the federal tax requirements applicable to investment companies, such as the Fund. The Subsidiary is subject to the same general investment policies and restrictions as the Fund, except that unlike the Fund, the Subsidiary is able to invest without limitation in commodities, derivatives and commodity-linked instruments and, to the extent the Subsidiary invests in derivative instruments, may use leveraged investment techniques.

The following is added as a new paragraph following the last bullet point in the "Waddell & Reed Advisors Asset Strategy Fund — Principal Investment Risks" section on page 42 of the Waddell & Reed Advisors Equity Funds Prospectus:

 

 
  • Subsidiary Investment Risk. By investing in the Subsidiary, the Fund is exposed to the risks associated with the Subsidiary's investments. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the "1940 Act"), and is not subject to all of the investor protections of the 1940 Act. Thus, the Fund, as an investor in the Subsidiary, would not have all of the protections offered to investors in registered investment companies. However, because the Fund wholly owns and controls the Subsidiary, and the Fund and Subsidiary are managed by WRIMCO, it is unlikely that the Subsidiary would take action contrary to the interests of the Fund or the Fund's shareholders. In addition, changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary are organized, respectively, could result in the inability of the Fund and/or the Subsidiary to operate as intended and could negatively affect the Fund and its shareholders. Although under the federal tax law, the Fund may not earn more than 10% of its annual gross income from gains resulting from selling commodities (and other non-qualifying income), the Fund has received an opinion of counsel, which is not binding on the Internal Revenue Service or the courts, that income the Fund receives from the Subsidiary should constitute qualifying income.

Waddell & Reed Advisors Asset Strategy Fund
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] wraf5_SupplementTextBlock

Waddell & Reed Advisors Funds

Supplement dated April 5, 2013 to the

Waddell & Reed Advisors Equity Funds Prospectus

dated October 31, 2012

and as supplemented January 2, 2013 and January 31, 2013

The following is added as a new paragraph following the second paragraph of the "Waddell & Reed Advisors Asset Strategy Fund — Principal Investment Strategies" section on page 40 of the Waddell & Reed Advisors Equity Funds Prospectus:

The Fund may gain exposure to commodities, including precious metals, derivatives and commodity-linked instruments by investing in a subsidiary organized in the Cayman Islands (the "Subsidiary"). The Subsidiary is wholly owned and controlled by the Fund. Should the Fund invest in the Subsidiary, it would be expected to provide the Fund with exposure to investment returns from commodities, derivatives and commodity-linked instruments within the limits of the federal tax requirements applicable to investment companies, such as the Fund. The Subsidiary is subject to the same general investment policies and restrictions as the Fund, except that unlike the Fund, the Subsidiary is able to invest without limitation in commodities, derivatives and commodity-linked instruments and, to the extent the Subsidiary invests in derivative instruments, may use leveraged investment techniques.

The following is added as a new paragraph following the last bullet point in the "Waddell & Reed Advisors Asset Strategy Fund — Principal Investment Risks" section on page 42 of the Waddell & Reed Advisors Equity Funds Prospectus:

 

 
  • Subsidiary Investment Risk. By investing in the Subsidiary, the Fund is exposed to the risks associated with the Subsidiary's investments. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the "1940 Act"), and is not subject to all of the investor protections of the 1940 Act. Thus, the Fund, as an investor in the Subsidiary, would not have all of the protections offered to investors in registered investment companies. However, because the Fund wholly owns and controls the Subsidiary, and the Fund and Subsidiary are managed by WRIMCO, it is unlikely that the Subsidiary would take action contrary to the interests of the Fund or the Fund's shareholders. In addition, changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary are organized, respectively, could result in the inability of the Fund and/or the Subsidiary to operate as intended and could negatively affect the Fund and its shareholders. Although under the federal tax law, the Fund may not earn more than 10% of its annual gross income from gains resulting from selling commodities (and other non-qualifying income), the Fund has received an opinion of counsel, which is not binding on the Internal Revenue Service or the courts, that income the Fund receives from the Subsidiary should constitute qualifying income.

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