EX-99.B-77D
WADDELL & REED ADVISORS GLOBAL BOND FUND, INC.
SUB-ITEM 77D(a): Policies with respect to security investments
Effective September 18, 2000 the Fund changed its name to
Waddell & Reed Advisors Global Bond Fund, Inc. to reflect
changes in the Fund's investment strategies and policies
approved by the Board of Directors, which are described
below. The objectives of the Fund have not changed.
The primary goal of the Global Bond Fund is to earn a high
level of current income. As a secondary goal, the Fund
seeks capital growth when consistent with the primary goal.
The Fund seeks to achieve these goals by investing primarily
in a diversified portfolio of U.S. dollar-denominated debt
securities of U.S. or foreign issuers. Global Bond Fund
seeks to achieve its goals by investing primarily in a
diversified portfolio of U.S. dollar-denominated debt
securities of foreign and U.S. issuers. The Fund invests
primarily in investment grade securities (rated BBB and
higher by S&P or comparable ratings issued by any other
Nationally Recognized Statistical Rating Organization or, if
unrated, deemed by Waddell & Reed Investment Management
Company (WRIMCO) to be of comparable quality). The Fund
may, however, invest up to 35% of its total assets in lower
quality bonds (commonly called junk bonds), the risks of
which are, in the judgment of WRIMCO, consistent with the
Fund's goals. The Fund may invest in bonds of any maturity,
although WRIMCO seeks to focus on the intermediate-term
sector (generally, bonds with maturities ranging between one
and ten years). The Fund invests primarily in issuers in
countries that are members of the Organisation of Economic
Co-Operation and Development (OECD). The Fund may invest in
securities issued by foreign or U.S. governments and in
foreign or U.S. companies of any size.
During normal market conditions, the Fund invests at least
65% of its total assets in issuers of at least three
countries, which may include the U.S. The Fund generally
limits its holdings so that no more than 30% of its total
assets are invested in issuers within a single country
outside the U.S. Typically the Fund invests no more than
10% of its assets in securities denominated in foreign
currencies. During normal market conditions, the Fund
invests at least 65% of its total assets in debt securities.
The Fund limits its acquisition of common stock so that no
more than 20% of its total assets will consist of common
stock, no more than 10% of its total assets will consist of
non-dividend paying common stock.
