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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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 17
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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015 A000501 UMB BANK, N.A.
015 B000501 C
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<PAGE> PAGE 24
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<PAGE> PAGE 25
015 C010517 MANILA
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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015 A000601 UMB BANK, N.A.
015 B000601 C
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
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<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
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<TABLE> <S> <C>
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<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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<CIK> 0000883622
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
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<OTHER-INCOME> 0
<EXPENSES-NET> (142,566)
<NET-INVESTMENT-INCOME> 271,198
<REALIZED-GAINS-CURRENT> 56,906
<APPREC-INCREASE-CURRENT> 361,222
<NET-CHANGE-FROM-OPS> 689,326
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (271,198)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 251,528
<NUMBER-OF-SHARES-REDEEMED> (274,931)
<SHARES-REINVESTED> 26,249
<NET-CHANGE-IN-ASSETS> 445,766
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 35,989
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 142,566
<AVERAGE-NET-ASSETS> 12,858,986
<PER-SHARE-NAV-BEGIN> 9.70
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> .33
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.03
<EXPENSE-RATIO> 2.21
<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, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 04
<NAME> MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 28,524,900
<INVESTMENTS-AT-VALUE> 28,961,106
<RECEIVABLES> 689,037
<ASSETS-OTHER> 14,692
<OTHER-ITEMS-ASSETS> 4,029
<TOTAL-ASSETS> 29,668,864
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 208,422
<TOTAL-LIABILITIES> 208,422
<SENIOR-EQUITY> 28,124
<PAID-IN-CAPITAL-COMMON> 29,874,418
<SHARES-COMMON-STOCK> 2,812,428
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (878,306)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 436,206
<NET-ASSETS> 29,460,442
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 873,380
<OTHER-INCOME> 0
<EXPENSES-NET> (280,290)
<NET-INVESTMENT-INCOME> 593,090
<REALIZED-GAINS-CURRENT> (224,956)
<APPREC-INCREASE-CURRENT> 696,308
<NET-CHANGE-FROM-OPS> 1,064,442
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (593,090)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 387,588
<NUMBER-OF-SHARES-REDEEMED> (291,156)
<SHARES-REINVESTED> 52,082
<NET-CHANGE-IN-ASSETS> 2,026,360
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 79,887
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 280,290
<AVERAGE-NET-ASSETS> 13,498,604
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> .22
<PER-SHARE-GAIN-APPREC> .18
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.48
<EXPENSE-RATIO> 1.96
<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, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 05
<NAME> INTERNATIONAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 15,203,204
<INVESTMENTS-AT-VALUE> 16,145,694
<RECEIVABLES> 508,658
<ASSETS-OTHER> 13,757
<OTHER-ITEMS-ASSETS> 4,741
<TOTAL-ASSETS> 16,672,850
<PAYABLE-FOR-SECURITIES> 102,735
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 84,851
<TOTAL-LIABILITIES> 187,586
<SENIOR-EQUITY> 15,954
<PAID-IN-CAPITAL-COMMON> 15,548,383
<SHARES-COMMON-STOCK> 1,595,380
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 170,268
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (192,945)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 943,604
<NET-ASSETS> 16,485,264
<DIVIDEND-INCOME> 90,851
<INTEREST-INCOME> 166,551
<OTHER-INCOME> 0
<EXPENSES-NET> (176,548)
<NET-INVESTMENT-INCOME> 80,854
<REALIZED-GAINS-CURRENT> 187,537
<APPREC-INCREASE-CURRENT> 1,040,713
<NET-CHANGE-FROM-OPS> 1,309,104
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23,033)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 507,258
<NUMBER-OF-SHARES-REDEEMED> (109,796)
<SHARES-REINVESTED> 2,800
<NET-CHANGE-IN-ASSETS> 5,296,863
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 53,630
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 176,548
<AVERAGE-NET-ASSETS> 13,498,604
<PER-SHARE-NAV-BEGIN> 9.36
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> .93
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.33
<EXPENSE-RATIO> 2.61
<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, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 06
<NAME> ASSET STRATEGY FUND
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 6,426,201
<INVESTMENTS-AT-VALUE> 6,570,760
<RECEIVABLES> 238,666
<ASSETS-OTHER> 14,625
<OTHER-ITEMS-ASSETS> 3,324
<TOTAL-ASSETS> 3,827,375
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35,294
<TOTAL-LIABILITIES> 35,294
<SENIOR-EQUITY> 6,528
<PAID-IN-CAPITAL-COMMON> 6,631,159
<SHARES-COMMON-STOCK> 652,849
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 8,602
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,233
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 144,559
<NET-ASSETS> 6,792,081
<DIVIDEND-INCOME> 6,360
<INTEREST-INCOME> 59,802
<OTHER-INCOME> 0
<EXPENSES-NET> (37,047)
<NET-INVESTMENT-INCOME> 29,115
<REALIZED-GAINS-CURRENT> 1,233
<APPREC-INCREASE-CURRENT> 144,559
<NET-CHANGE-FROM-OPS> 174,907
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,513)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 676,866
<NUMBER-OF-SHARES-REDEEMED> (25,991)
<SHARES-REINVESTED> 1,974
<NET-CHANGE-IN-ASSETS> 6,792,081
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,766
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 37,047
<AVERAGE-NET-ASSETS> 2,810,386
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> .39
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.40
<EXPENSE-RATIO> 2.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
