CORRECTED-Waddell & Reed 4th-qtr profit up 33 percent

Tue Jan 29, 2013 7:48am EST

(Corrects first paragraph to show the company posted outflows, not inflows, in the quarter)

Jan 29 (Reuters) - Asset manager Waddell & Reed Financial Inc reported a 33 percent rise in quarterly profit, as higher investment management fees helped offset net outflows of client funds.

Net income from continuing operations rose to $52.4 million, or 61 cents per share, in the fourth quarter from $39.4 million, or 46 cents per share, a year earlier.

Total operating revenue rose 11 percent to $302.9 million. (Reporting by Aman Shah in Bangalore)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article