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Waddell & Reed, Inc. Partners with Key Institutional Managers to Launch New Advisory Program

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In a continuing expansion of its advisory product lineup, Waddell & Reed, Inc. has introduced a new third-party strategist program that offers a wide range of portfolios, including both exchange-traded fund (ETF) and mutual fund options.

The advisory program, called Guided Investment Strategies, gives advisors wide flexibility to meet differing investor needs, with 48 different investment models to choose from, including 20 tax-sensitive options, each individually managed by BlackRock, State Street Global Advisors or Wilshire Associates Incorporated (Wilshire).

Guided Investment Strategies offers simple, scalable, competitively priced portfolio solutions that help advisors reduce the time they spend on investment portfolio construction and administrative duties, allowing them to spend more time with clients, said Shawn Mihal, president of Waddell & Reed, Inc. Studies have shown that high-performing advisors spend less time managing client portfolios, as they put a priority on building relationships with clients and creating financial plans.

Guided Investment Strategies offers a range of tactical portfolios that can respond rapidly to potential short-term opportunities in the marketplace, along with dynamic portfolios that can adjust frequently to various market conditions. This table highlights the range of options:

 

Institutional Manager

   

Portfolio Program

   

# of models

   

Mutual fund or ETF

   

Tax-advantaged Option

   

Minimum Investment

BlackRock    

BlackRock Target Allocation ETF

    21     ETF     Yes     $10,000

State Street Global Advisors

   

State Street Global Tactical ETF Portfolios

    6     ETF     No     $25,000
Wilshire    

Wilshire Global ETF Allocation

    11     ETF     Yes     $10,000
Wilshire    

Waddell & Reed SPAPlus

    10     Mutual fund     Yes     $10,000

Mihal added that the program is unique in both its combination of industry-leading portfolio managers, and its variety of portfolios with choices between both ETFs and mutual funds.

Advisors can select a portfolio that specifically suits a clients personal situation and financial goals, he said. Not only can they target the nuance of each situation, such as risk tolerance, the preference for a dynamic or tactical portfolio, comfort level with mutual funds or ETFs, tax concerns — they can do so while providing institutionally managed solutions.

Mihal noted that the broadening of Waddell & Reeds advisory product lineup and providers is another step in the evolution of the Waddell & Reed broker-dealer, as announced in November, collectively focused on technological enhancements, product expansion and broadening advisor support as the firm moves toward an industry-standard model. The broker-dealer is one of the pioneers of the planning industry, founded more than 80 years ago.

While the ETFs are offered and managed by each institutional manager, the mutual funds are offered within Waddell & Reeds SPAPlus program, which comprises access to an array of world-class asset managers, including mutual fund options from Ivy Investments, Lord Abbett, MFS, PIMCO and T. Rowe Price. Waddell & Reed has retained Wilshire Associates to develop model portfolios, and use its proprietary screening process to determine the best options for each. The model portfolios are maintained by Wilshire on an ongoing basis; changes are made to both the asset allocations and underlying funds as needed.

About Waddell & Reed

Founded in 1937, Waddell & Reed, Inc. is one of the oldest financial planning firms in the U.S., providing total planning services to clients throughout the United States through a network of independent financial advisors. It is a subsidiary of Waddell & Reed Financial, Inc. (NYSE: WDR).

Consider all factors. Please remember that an investment in a managed portfolio involves risk. The investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. ETFs are different than mutual funds in that ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. The portfolios risks are directly related to the risks of the underlying investments. Asset allocation strategies do not assure a profit and do not protect against loss.

Financial advisory services are made available through Waddell & Reed, Inc., in its capacity as a registered investment adviser. To determine which Waddell & Reed investment advisory product is most appropriate for you depending on your needs and for a full description of all managed account products and services, including fees and expenses, review the Advisory Services Brochure (Form ADV Part 2) available from your financial advisor.

IVY INVESTMENTS refers to the investment management and investment advisory services offered by Ivy Investment Management Company, the financial services offered by Ivy Distributors, Inc., a FINRA member Broker/Dealer and the distributor of IVY FUNDS mutual funds and the financial services offered by their affiliates. Waddell & Reed Inc. is not affiliated with Wilshire Associates Inc., BlackRock or State Street Global Advisors.

Securities and Investment Advisory Services are offered through Waddell & Reed, Inc., a Broker/Dealer, Member FINRA/SIPC and Federally Registered Investment Advisor.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of a mutual fund or exchange-traded fund (ETF). This and other important information is contained in the prospectus and summary prospectus, which may be obtained at waddell.com or from a financial advisor. Read it carefully before investing.

Waddell & Reed, Inc.
Roger Hoadley
VP,
Communications
[email protected]

News

CNOOC Limited Announces Commencement of Production at Liuhua 16-2 Oilfield / 20-2 Oilfield Joint Development Project

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HONG KONG, Sept. 20, 2020 /PRNewswire/ — CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that Liuhua 16-2 oilfield/ 20-2 oilfield joint development project has commenced production.

Liuhua 16-2 oilfield / 20-2 oilfield joint development project is located in Eastern South China Sea. The average water depth of the joint development project is approximately 410 meters.  One 150,000 DWT FPSO and three underwater production systems are newly built. A total of 26 development wells are planned to be put into production and development. The project is expected to reach its peak production of approximately 72,800 barrels of crude oil per day in 2022.

CNOOC Limited holds 100% interest of Liuhua 16-2 oilfield/ 20-2 oilfield joint development project.

– End –

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

*** *** *** ***

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company’s expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, macro-political and economic factors, changes in the tax and fiscal regimes of the host countries in which we operate, the highly competitive nature of the oil and natural gas industry, the exploration and development activities, mergers, acquisitions and divestments activities, environmental responsibility and compliance requirements, foreign operations and cyber system attacks.  For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

*** *** *** ***

For further enquiries, please contact:

Ms. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
Fax: +86-10-8452-1441
E-mail: [email protected]

Ms. Ada Leung 
Hill+Knowlton Strategies Asia
Tel: +852-2894-6225
Fax: +852-2576-1990
E-mail: [email protected]

Photo – https://photos.prnasia.com/prnh/20200911/2914374-1LOGO?lang=0

 

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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Odonate Therapeutics, Inc. of Class Action Lawsuit and Upcoming Deadline – ODT

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NEW YORK, Sept. 19, 2020 — Pomerantz LLP announces that a class action lawsuit has been filed against Odonate Therapeutics, Inc.  (“Odonate” or the “Company”) (NASDAQ: ODT) and certain of its officers.   The class action, filed in United States District Court for the Southern District of California, and docketed under 20-cv-01828, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Odonate securities between December 7, 2017, and August 21, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased Odonate securities during the class period, you have until November 16, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Odonate was founded in 2013 and is based in San Diego, California.  Odonate is a pharmaceutical company that develops therapeutics for the treatment of cancer.  The Company is focused on developing tesetaxel, an orally administered chemotherapy agent. 

Tesetaxel is in Phase 3 clinical study for patients with locally advanced or metastatic breast cancer (“MBC”), called the CONTESSA trial, which is evaluating tesetaxel in combination with capecitabine in patients with MBC.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) tesetaxel was not as safe or well-tolerated as the Company had led investors to believe; (ii) consequently, tesetaxel’s commercial viability as a cancer treatment was overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On August 24, 2020, during pre-market hours, Odonate issued a press release announcing top-line results from the CONTESSA trial.  Although the study met its primary endpoint, tesetaxel plus capecitabine was associated with Grade 3 or higher neutropenia (low levels of white blood cells), which occurred in 71.2% of patients with the combination treatment versus 8.3% for capecitabine alone.  Various other Grade 3 or higher treatment-emergent adverse events (“AEs”) were also associated with tesetaxel plus capecitabine versus capecitabine alone.  Further, discontinuation rates were 4.2% from neutropenia and 3.6% from neuropathy, and the overall discontinuation rate was 23.1% in the treatment group compared to 11.9% in the capecitabine alone group.

On this news, Odonate’s stock price fell $15.21 per share, or 45.35%, to close at $18.33 per share on August 24, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby Pomerantz LLP [email protected]

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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Fastly, Inc. of Class Action Lawsuit and Upcoming Deadline – FSLY

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NEW YORK, Sept. 19, 2020 — Pomerantz LLP announces that a class action lawsuit has been filed against Fastly, Inc.  (“Fastly” or the “Company”) (NYSE: FSLY) and certain of its officers.   The class action, filed in United States District Court for the Northern District of California, and docketed under 20-cv-06454, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Fastly securities between May 6, 2020, and August 5, 2020, inclusive (the “Class Period”) and were damaged thereby, seeking to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and SEC Rule 10b-5 promulgated thereunder (the “Class”).

If you are a shareholder who purchased Fastly securities during the class period, you have until October 26, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Fastly is the provider of an edge cloud platform. Fastly’s edge cloud platform purportedly enables “customers to create great digital experiences quickly, securely, and reliably by processing, serving, and securing [its] customers’ applications as close to their end-users as possible.”

The complaint alleges that during the Class Period, Defendants knowingly and/or recklessly made false and/or misleading statements about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) that Fastly’s largest customer was ByteDance, operator of TikTok, which was known to have serious security risks and was under intense scrutiny by U.S. officials; (ii) that there was a material risk that Fastly’s business would be adversely impacted should any adverse actions be taken against ByteDance or TikTok by the U.S. government; and (iii) that, as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 5, 2020, after market close, Fastly held its second quarter (“Q2”) 2020 earnings conference call. During the call, Defendants disclosed that ByteDance, the Chinese company that operates the wildly popular mobile app TikTok, was Fastly’s largest customer in Q2 2020 and that TikTok represented about 12% of Fastly’s revenue for the six months ended June 30, 2020.

This news shocked the market, as TikTok had been under heavy scrutiny by U.S. officials and others since at least late 2019 due to fears that the data it collects from its users could be accessed by the Chinese government. Indeed, on July 31, 2020, President Trump announced a plan to ban TikTok in the U.S. over national security concerns. As Fastly’s Chief Executive Officer (“CEO”) admitted on the Q2 2020 earnings call, “any ban of the TikTok app by the US would create uncertainty around our ability to support this customer[,]” and “the loss of this customer’s traffic would have an impact on our business.”

On this news, Fastly’s share price fell $19.28 per share, or approximately 17.7% from the previous trading day’s closing price of $108.92 per share, to close at $89.64 per share on August 6, 2020. Fastly’s shares continued to decline on August 6, 2020, when President Trump issued an executive order effectively banning TikTok, declining another $10.31 per share from the closing price on August 6, 2020, or approximately 11.5%, to close at $79.33 per share on August 7, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby Pomerantz LLP [email protected] 888-476-6529 ext. 7980

 

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