Waddell & Reed's mutual fund is part of a growing trend

10/7/2010 | Wall Street Journal, The

Regulators have indicated that a mutual fund run by Waddell & Reed triggered the May 6 "flash crash," although the company was not named. The $27 billion Asset Strategy Fund is not an average mutual fund, according to The Wall Street Journal. Larger than most hedge funds, it is part of a trend among mutual funds, with them acting somewhat like hedge funds.

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