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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 13
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<PAGE> PAGE 21
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062 L000400 0.0
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062 O000400 88.8
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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
<PAGE> PAGE 22
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 Y
070 H010400 N
070 H020400 N
070 I010400 N
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 Y
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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071 B000400 12008
071 C000400 28580
071 D000400 42
072 A000400 12
072 B000400 1813
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<PAGE> PAGE 23
072 S000400 2
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<PAGE> PAGE 24
076 000400 0.00
015 A000501 UMB BANK, N.A.
015 B000501 C
015 C010501 KANSAS CITY
015 C020501 MO
015 C030501 64141
015 C040501 6226
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 CIBC
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 UNION BANK OF FINLAND
015 B000507 S
015 C010507 HELSINKI
015 D010507 FINLAND
015 E040507 X
015 A000508 BHF BANK
015 B000508 S
015 C010508 FRANKFURT
015 D010508 GERMANY
015 E040508 X
015 A000509 BANQUE INDOSUEZ
015 B000509 S
015 C010509 PARIS
015 D010509 FRANCE
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015 A000510 AMRO BANK
<PAGE> PAGE 25
015 B000510 S
015 C010510 AMSTERDAM
015 D010510 NETHERLANDS
015 E040510 X
015 A000511 CITIBANK, N.A.
015 B000511 S
015 C010511 JAKARTA
015 D010511 INDONESIA
015 E040511 X
015 A000512 MIDLAND BANK PLC
015 B000512 S
015 C010512 LONDON
015 D010512 ENGLAND
015 E040512 X
015 A000513 BANK OF TOKYO
015 B000513 S
015 C010513 TOKYO
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015 A000514 MITSUI TRUST & BANKING CO.
015 B000514 S
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015 A000515 HONGKONG BANK MALAYSIA BERHAD
015 B000515 S
015 C010515 KUALA LUMPUR
015 D010515 MALAYSIA
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015 A000516 CHRISTIANA BANK
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015 A000517 CITIBANK, N.A.
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<PAGE> PAGE 26
015 C010520 HONG KONG
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015 A000521 BANCA COMMERCIALE
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015 A000522 CITIBANK MEXICO
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015 B000523 S
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024 000500 N
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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070 H020500 N
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<PAGE> PAGE 29
070 O020500 N
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<PAGE> PAGE 30
074 D000500 1694
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015 A000601 UMB BANK, N.A.
015 B000601 C
015 C010601 KANSAS CITY
015 C020601 MO
015 C030601 64141
015 C040601 6226
015 E010601 X
015 A000602 UNITED MISSOURI TRUST COMPANY OF NEW YORK
015 B000602 S
015 C010602 NEW YORK
015 C020602 NY
015 C030602 10004
015 E010602 X
015 A000603 BHF BANK
015 B000603 S
015 C010603 FRANKFURT
015 D010603 GERMANY
015 E040603 X
015 A000604 BROWN BROTHERS HARRIMAN & CO.
015 B000604 S
015 C010604 BOSTON
<PAGE> PAGE 31
015 C020604 MA
015 C030604 02109
015 E010604 X
024 000600 N
025 A000601 DELETE
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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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<PAGE> PAGE 35
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SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED MARCH 31, 1996 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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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> GROWTH FUND
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.00
<EXPENSE-RATIO> 2.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED MARCH 31, 1996 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> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 23,540,255
<INVESTMENTS-AT-VALUE> 23,333,878
<RECEIVABLES> 457,892
<ASSETS-OTHER> 9,910
<OTHER-ITEMS-ASSETS> 527
<TOTAL-ASSETS> 23,802,207
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 119,677
<TOTAL-LIABILITIES> 119,677
<SENIOR-EQUITY> 23,685
<PAID-IN-CAPITAL-COMMON> 23,849,385
<SHARES-COMMON-STOCK> 2,368,539
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,837
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (206,377)
<NET-ASSETS> 23,682,530
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 975,889
<OTHER-INCOME> 0
<EXPENSES-NET> (328,785)
<NET-INVESTMENT-INCOME> 647,104
<REALIZED-GAINS-CURRENT> 90,054
<APPREC-INCREASE-CURRENT> 99,034
<NET-CHANGE-FROM-OPS> 836,192
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 647,104
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,575,547
<NUMBER-OF-SHARES-REDEEMED> (549,241)
<SHARES-REINVESTED> 62,031
<NET-CHANGE-IN-ASSETS> 11,263,764
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 87,085
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 328,785
<AVERAGE-NET-ASSETS> 15,622,003
<PER-SHARE-NAV-BEGIN> 9.70
<PER-SHARE-NII> .41
<PER-SHARE-GAIN-APPREC> .30
<PER-SHARE-DIVIDEND> (.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> 2.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED MARCH 31, 1996 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> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 31,908,658
<INVESTMENTS-AT-VALUE> 32,398,300
<RECEIVABLES> 1,616,670
<ASSETS-OTHER> 9,990
<OTHER-ITEMS-ASSETS> 3,629
<TOTAL-ASSETS> 34,028,589
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 158,738
<TOTAL-LIABILITIES> 158,738
<SENIOR-EQUITY> 31,855
<PAID-IN-CAPITAL-COMMON> 33,905,496
<SHARES-COMMON-STOCK> 3,185,475
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (557,142)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 489,642
<NET-ASSETS> 33,869,851
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,813,054
<OTHER-INCOME> 0
<EXPENSES-NET> 584,726
<NET-INVESTMENT-INCOME> 1,228,328
<REALIZED-GAINS-CURRENT> 96,208
<APPREC-INCREASE-CURRENT> 749,744
<NET-CHANGE-FROM-OPS> 2,074,280
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,228,328)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 959,726
<NUMBER-OF-SHARES-REDEEMED> (542,901)
<SHARES-REINVESTED> 104,736
<NET-CHANGE-IN-ASSETS> 6,435,769
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 169,713
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 584,726
<AVERAGE-NET-ASSETS> 30,309,956
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> .43
<PER-SHARE-GAIN-APPREC> .33
<PER-SHARE-DIVIDEND> (.43)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.63
<EXPENSE-RATIO> 1.93
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED MARCH 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 5
<NAME> INTERNATIONAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 20,007,311
<INVESTMENTS-AT-VALUE> 20,760,104
<RECEIVABLES> 278,079
<ASSETS-OTHER> 9,910
<OTHER-ITEMS-ASSETS> 6,782
<TOTAL-ASSETS> 21,054,875
<PAYABLE-FOR-SECURITIES> 101,665
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,204
<TOTAL-LIABILITIES> 173,869
<SENIOR-EQUITY> 21,013
<PAID-IN-CAPITAL-COMMON> 20,531,701
<SHARES-COMMON-STOCK> 2,101,311
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (33,657)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (391,077)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 753,026
<NET-ASSETS> 20,881,006
<DIVIDEND-INCOME> 142,220
<INTEREST-INCOME> 351,268
<OTHER-INCOME> 0
<EXPENSES-NET> (394,801)
<NET-INVESTMENT-INCOME> 98,687
<REALIZED-GAINS-CURRENT> (46,537)
<APPREC-INCREASE-CURRENT> 850,135
<NET-CHANGE-FROM-OPS> 902,285
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (208,849)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,098,330
<NUMBER-OF-SHARES-REDEEMED> (214,469)
<SHARES-REINVESTED> 22,332
<NET-CHANGE-IN-ASSETS> 9,692,605
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 126,515
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 394,801
<AVERAGE-NET-ASSETS> 15,761,973
<PER-SHARE-NAV-BEGIN> 9.36
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> .63
<PER-SHARE-DIVIDEND> (.11)
<PER-SHARE-DISTRIBUTIONS> (.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.94
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED MARCH 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 6
<NAME> ASSET STRATEGY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 13,221,745
<INVESTMENTS-AT-VALUE> 12,898,594
<RECEIVABLES> 601,657
<ASSETS-OTHER> 4,137
<OTHER-ITEMS-ASSETS> 3,242
<TOTAL-ASSETS> 13,507,630
<PAYABLE-FOR-SECURITIES> 250,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35,173
<TOTAL-LIABILITIES> 285,173
<SENIOR-EQUITY> 13,024
<PAID-IN-CAPITAL-COMMON> 13,338,323
<SHARES-COMMON-STOCK> 1,302,369
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 4,882
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 189,379
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (323,151)
<NET-ASSETS> 13,222,457
<DIVIDEND-INCOME> 27,130
<INTEREST-INCOME> 281,049
<OTHER-INCOME> 0
<EXPENSES-NET> (167,177)
<NET-INVESTMENT-INCOME> 141,002
<REALIZED-GAINS-CURRENT> 187,466
<APPREC-INCREASE-CURRENT> (323,151)
<NET-CHANGE-FROM-OPS> 5,317
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (134,207)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,509,962
<NUMBER-OF-SHARES-REDEEMED> (220,727)
<SHARES-REINVESTED> 13,134
<NET-CHANGE-IN-ASSETS> 13,222,457
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 52,588
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 167,177
<AVERAGE-NET-ASSETS> 6,962,206
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> .14
<PER-SHARE-DIVIDEND> (.15)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.15
<EXPENSE-RATIO> 2.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
