WADDELL & REED FUNDS INC
NSAR-A, 1994-11-28
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<PAGE>      PAGE  1
000 A000000 09/30/94
000 C000000 883622
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 WADDELL & REED FUNDS, INC.
001 B000000 811-6569
001 C000000 9132362000
002 A000000 6300 LAMAR AVENUE, P.O. BOX 29217
002 B000000 SHAWNEE MISSION
002 C000000 KS
002 D010000 66201
002 D020000 9217
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 TOTAL RETURN FUND
007 C030100 N
007 C010200  2
007 C020200 GROWTH FUND
007 C030200 N
007 C010300  3
007 C020300 LIMITED-TERM BOND FUND
007 C030300 N
007 C010400  4
007 C020400 MUNICIPAL BOND FUND
007 C030400 N
007 C010500  5
007 C020500 GLOBAL INCOME FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 WADDELL & REED INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-40372
008 D01AA01 OVERLAND PARK
008 D02AA01 KS
008 D03AA01 66202
008 D04AA01 4200
010 A00AA01 WADDELL & REED SERVICES COMPANY
<PAGE>      PAGE  2
010 B00AA01 84-1062
010 C01AA01 OVERLAND PARK
010 C02AA01 KS
010 C03AA01 66202
010 C04AA01 4200
011 A00AA01 WADDELL & REED, INC.
011 B00AA01 8-15372
011 C01AA01 OVERLAND PARK
011 C02AA01 KS
011 C03AA01 66202
011 C04AA01 4200
012 A00AA01 WADDELL & REED SERVICES COMPANY
012 B00AA01 84-1062
012 C01AA01 OVERLAND PARK
012 C02AA01 KS
012 C03AA01 66202
012 C04AA01 4200
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
013 B04AA01 9860
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   32
019 C00AA00 UNITDGROUP
020 A000001 INSTINET CORPORATION
020 B000001 13-3443395
020 C000001      9
020 A000002 COWEN & COMPANY
020 B000002 13-5616116
020 C000002      7
020 A000003 MONTGOMERY SECURITIES
020 B000003 94-1701676
020 C000003      6
020 A000004 BEAR STEARNS & CO.
020 B000004 13-3299429
020 C000004      4
020 A000005 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
020 B000005 13-2741729
020 C000005      3
020 A000006 BLAIR (WILLIAM) & COMPANY
020 B000006 36-2214610
020 C000006      3
020 A000007 PAINEWEBBER INCORPORATED
020 B000007 13-2638166
020 C000007      3
020 A000008 AUTRANET, INC.
020 B000008 13-2961507
020 C000008      3
020 A000009 BROWN (ALEX) & SONS INCORPORATED
<PAGE>      PAGE  3
020 B000009 52-0256630
020 C000009      2
020 A000010 LIPPER ANALYTICAL SECURTIES CORPORATION
020 B000010 13-2792478
020 C000010      2
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022 A000001 GOLDMAN, SACHS & CO.
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022 C000001     49508
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022 B000002 13-5674085
022 C000002     44907
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022 A000003 KIDDER, PEABODY & CO. INCORPORATED
022 B000003 13-5650440
022 C000003      7964
022 D000003       142
022 A000004 SMITH BARNEY SHEARSON, INC.
022 B000004 75-2502064
022 C000004      4531
022 D000004      2861
022 A000005 MORGAN (J.P.) SECURITIES INC.
022 B000005 13-3224016
022 C000005      5847
022 D000005         0
022 A000006 CITICORP
022 C000006      5483
022 D000006         0
022 A000007 BANK OF AMERICA
022 B000007 94-1687665
022 C000007      5200
022 D000007         0
022 A000008 MORGAN STANLEY & CO. INCORPORATED
022 B000008 13-2655998
022 C000008      4574
022 D000008       581
022 A000009 CS FIRST BOSTON CORPORATION (THE)
022 B000009 13-5659485
022 C000009      2992
022 D000009      1300
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
022 C000010      2253
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023 C000000     146070
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026 A000000 Y
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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015 A000201 UNITED MISSOURI BANK, N.A.
015 B000201 C
015 C010201 KANSAS CITY
015 C020201 MO
015 C030201 64141
015 C040201 6226
015 E010201 X
015 A000202 UNITED MISSOURI TRUST COMPANY OF NEW YORK
015 B000202 S
015 C010202 NEW YORK
015 C020202 NY
015 C030202 10004
015 E010202 X
024  000200 N
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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015 A000301 UNITED MISSOURI BANK, N.A.
015 B000301 C
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015 C020301 MO
015 C030301 64141
015 C040301 6226
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015 A000302 UNITED MISSOURI TRUST COMPANY OF NEW YORK
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<PAGE>      PAGE  15
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<PAGE>      PAGE  17
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015 A000401 UNITED MISSOURI BANK, N.A.
015 B000401 C
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015 C040401 6226
015 E010401 X
015 A000402 UNITED MISSOURI TRUST COMPANY OF NEW YORK
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028 E040400       358
028 F010400       544
028 F020400        90
028 F030400         0
028 F040400       446
028 G010400      3181
028 G020400       490
028 G030400         0
028 G040400      2528
028 H000400         0
034  000400 Y
035  000400     34
036 A000400 N
036 B000400      0
042 A000400   0
042 B000400   0
042 C000400  78
042 D000400  22
042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
043  000400    123
044  000400      0
045  000400 Y
046  000400 N
047  000400 Y
048  000400  0.560
048 A010400        0
048 A020400 0.000
048 B010400        0
048 B020400 0.000
048 C010400        0
048 C020400 0.000
048 D010400        0
048 D020400 0.000
048 E010400        0
048 E020400 0.000
048 F010400        0
048 F020400 0.000
048 G010400        0
048 G020400 0.000
048 H010400        0
048 H020400 0.000
048 I010400        0
<PAGE>      PAGE  20
048 I020400 0.000
048 J010400        0
048 J020400 0.000
048 K010400        0
048 K020400 0.000
058 A000400 N
059  000400 Y
060 A000400 Y
060 B000400 Y
061  000400     1000
062 A000400 Y
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   4.7
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400   0.0
062 N000400   0.0
062 O000400  93.0
062 P000400   0.0
062 Q000400   0.0
062 R000400   2.3
063 A000400   0
063 B000400 12.3
064 A000400 Y
064 B000400 N
066 A000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 N
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
<PAGE>      PAGE  21
070 H010400 N
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 N
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400     10687
071 B000400      9515
071 C000400     24262
071 D000400   39
072 A000400  6
072 B000400      777
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400       71
072 G000400        8
072 H000400        0
072 I000400       20
072 J000400        2
072 K000400        0
072 L000400        0
072 M000400        0
072 N000400       12
072 O000400        1
072 P000400        0
072 Q000400        0
072 R000400        3
072 S000400        1
072 T000400      123
072 U000400        3
072 V000400        0
072 W000400        5
072 X000400      249
072 Y000400        0
<PAGE>      PAGE  22
072 Z000400      528
072AA000400       76
072BB000400      326
072CC010400        0
072CC020400      101
072DD010400      528
072DD020400        0
072EE000400        0
073 A010400   0.2109
073 A020400   0.0000
073 B000400   0.0000
073 C000400   0.0000
074 A000400        8
074 B000400        0
074 C000400     1206
074 D000400    23939
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400      714
074 K000400      224
074 L000400      471
074 M000400       21
074 N000400    26583
074 O000400      704
074 P000400       39
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400       87
074 S000400        0
074 T000400    25753
074 U010400     2579
074 U020400        0
074 V010400     9.99
074 V020400     0.00
074 W000400   0.0000
074 X000400     2269
074 Y000400        0
075 A000400        0
075 B000400    25402
076  000400     0.00
015 A000501 UNITED MISSOURI BANK, N.A.
015 B000501 C
015 C010501 KANSAS CITY
015 C020501 MO
015 C030501 64141
015 C040501 6226
<PAGE>      PAGE  23
015 E010501 X
015 A000502 UNITED MISSOURI TRUST COMPANY OF NEW YORK
015 B000502 S
015 C010502 NEW YORK
015 C020502 NY
015 C030502 10004
015 E010502 X
015 A000503 BROWN BROTHERS HARRIMAN & CO.
015 B000503 S
015 C010503 BOSTON
015 C020503 MA
015 C030503 02109
015 E010503 X
015 A000504 NATIONAL NOMINEES, LTD.
015 B000504 S
015 C010504 MELBOURNE
015 D010504 AUSTRALIA
015 E040504 X
015 A000505 ROYAL TRUST COMPANY
015 B000505 S
015 C010505 TORONTO
015 D010505 CANADA
015 E040505 X
015 A000506 DEN DANSKE BANK
015 B000506 S
015 C010506 COPENHAGEN
015 D010506 DENMARK
015 E040506 X
015 A000507 BANQUE INDOSUEZ
015 B000507 S
015 C010507 PARIS
015 D010507 FRANCE
015 E040507 X
015 A000508 BHF BANK
015 B000508 S
015 C010508 FRANKFURT
015 D010508 GERMANY
015 E040508 X
015 A000509 BANCA COMMERCIALE
015 B000509 S
015 C010509 MILAN
015 D010509 ITALY
015 E040509 X
015 A000510 AMRO BANK
015 B000510 S
015 C010510 AMSTERDAM
015 D010510 NETHERLANDS
015 E040510 X
015 A000511 SKANDINAVISKA ENSKILDA BANKEN
015 B000511 S
015 C010511 STOCKHOLM
<PAGE>      PAGE  24
015 D010511 SWEDEN
015 E040511 X
015 A000512 MIDLAND BANK PLC
015 B000512 S
015 C010512 LONDON
015 D010512 ENGLAND
015 E040512 X
024  000500 N
028 A010500       307
028 A020500        33
028 A030500         0
028 A040500       248
028 B010500        98
028 B020500        31
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028 B040500       186
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028 C020500        34
028 C030500         0
028 C040500        96
028 D010500       188
028 D020500        33
028 D030500         0
028 D040500        49
028 E010500       302
028 E020500        34
028 E030500         0
028 E040500        74
028 F010500       140
028 F020500        36
028 F030500         0
028 F040500       131
028 G010500      1198
028 G020500       201
028 G030500         0
028 G040500       784
028 H000500         0
034  000500 Y
035  000500      5
036 A000500 N
036 B000500      0
042 A000500   0
042 B000500   0
042 C000500  87
042 D000500  13
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500     45
044  000500      0
<PAGE>      PAGE  25
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.660
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
058 A000500 N
059  000500 Y
060 A000500 N
060 B000500 N
061  000500    10000
062 A000500 Y
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   8.7
062 J000500   6.8
062 K000500   0.0
062 L000500   0.0
062 M000500  13.7
062 N000500   0.0
062 O000500   0.0
062 P000500   9.6
062 Q000500  59.7
062 R000500   1.5
063 A000500   0
063 B000500  2.2
<PAGE>      PAGE  26
064 A000500 N
064 B000500 N
066 A000500 N
067  000500 N
068 A000500 N
068 B000500 Y
069  000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 Y
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500       887
071 B000500       808
071 C000500      9028
071 D000500    9
072 A000500  6
072 B000500      318
072 C000500        0
072 D000500        0
<PAGE>      PAGE  27
072 E000500        0
072 F000500       34
072 G000500        5
072 H000500        0
072 I000500       10
072 J000500        6
072 K000500        0
072 L000500        0
072 M000500        0
072 N000500        2
072 O000500        1
072 P000500        0
072 Q000500        0
072 R000500        5
072 S000500        1
072 T000500       45
072 U000500        3
072 V000500        0
072 W000500        6
072 X000500      118
072 Y000500        0
072 Z000500      200
072AA000500       59
072BB000500      153
072CC010500       59
072CC020500        0
072DD010500      200
072DD020500        0
072EE000500        0
073 A010500   0.1789
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500        6
074 B000500        0
074 C000500     1552
074 D000500     9023
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500        0
074 K000500       33
074 L000500      278
074 M000500       20
074 N000500    10912
074 O000500        0
074 P000500       25
074 Q000500        0
074 R010500        0
<PAGE>      PAGE  28
074 R020500        0
074 R030500        0
074 R040500       24
074 S000500        0
074 T000500    10863
074 U010500     1164
074 U020500        0
074 V010500     9.33
074 V020500     0.00
074 W000500   0.0000
074 X000500     1143
074 Y000500        0
075 A000500        0
075 B000500    10408
076  000500     0.00
SIGNATURE   THEODORE W. HOWARD                           
TITLE       V.P. & TREASURER    
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
   <NUMBER> 1
   <NAME> TOTAL RETURN FUND
       
<S>                             <C>
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<NET-ASSETS>                                87,986,587
<DIVIDEND-INCOME>                              666,037
<INTEREST-INCOME>                              110,098
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 802,469
<NET-INVESTMENT-INCOME>                       (26,334)
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<APPREC-INCREASE-CURRENT>                    1,001,864
<NET-CHANGE-FROM-OPS>                          784,634
<EQUALIZATION>                                       0
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<ACCUMULATED-NII-PRIOR>                              0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
   <NUMBER> 2
   <NAME> GROWTH FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<SHARES-COMMON-STOCK>                        4,392,845
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<INTEREST-INCOME>                              508,395
<OTHER-INCOME>                                       0
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<INTEREST-EXPENSE>                                   0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
   <NUMBER> 3
   <NAME> LIMITED-TERM BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-END>                               SEP-30-1994
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<NET-ASSETS>                                11,753,270
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              353,190
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 129,594
<NET-INVESTMENT-INCOME>                        223,596
<REALIZED-GAINS-CURRENT>                       (9,831)
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                    224,206
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<ACCUMULATED-NII-PRIOR>                              0
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
   <NUMBER> 4
   <NAME> MUNICIPAL BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               SEP-30-1994
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<TOTAL-ASSETS>                              26,582,810
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<PAID-IN-CAPITAL-COMMON>                    27,416,144
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<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (1,440,504)
<NET-ASSETS>                                25,753,019
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              776,835
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                        528,349
<REALIZED-GAINS-CURRENT>                     (249,867)
<APPREC-INCREASE-CURRENT>                    (100,539)
<NET-CHANGE-FROM-OPS>                          177,943
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      528,349
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        313,812
<NUMBER-OF-SHARES-REDEEMED>                    249,911
<SHARES-REINVESTED>                             48,333
<NET-CHANGE-IN-ASSETS>                         792,534
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           71,052
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                248,486
<AVERAGE-NET-ASSETS>                        25,401,698
<PER-SHARE-NAV-BEGIN>                            10.12
<PER-SHARE-NII>                                    .21
<PER-SHARE-GAIN-APPREC>                          (.13)
<PER-SHARE-DIVIDEND>                               .21
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.99
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
   <NUMBER> 5
   <NAME> GLOBAL INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               SEP-30-1994
<INVESTMENTS-AT-COST>                       10,825,990
<INVESTMENTS-AT-VALUE>                      10,574,664
<RECEIVABLES>                                  310,788
<ASSETS-OTHER>                                   6,139
<OTHER-ITEMS-ASSETS>                            20,494
<TOTAL-ASSETS>                              10,912,085
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       49,497
<TOTAL-LIABILITIES>                             49,497
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    11,256,985
<SHARES-COMMON-STOCK>                        1,164,107
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (164,175)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (241,863)
<NET-ASSETS>                                10,862,588
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              317,920
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 117,494
<NET-INVESTMENT-INCOME>                        200,426
<REALIZED-GAINS-CURRENT>                      (93,888)
<APPREC-INCREASE-CURRENT>                       58,824
<NET-CHANGE-FROM-OPS>                          165,362
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      200,426
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        129,057
<NUMBER-OF-SHARES-REDEEMED>                     84,432
<SHARES-REINVESTED>                             21,667
<NET-CHANGE-IN-ASSETS>                         580,279
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           34,337
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                117,494
<AVERAGE-NET-ASSETS>                        10,408,049
<PER-SHARE-NAV-BEGIN>                             9.37
<PER-SHARE-NII>                                    .18
<PER-SHARE-GAIN-APPREC>                          (.04)
<PER-SHARE-DIVIDEND>                               .18
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.33
<EXPENSE-RATIO>                                   2.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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