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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 16
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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062 I000400 4.1
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062 O000400 95.1
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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
<PAGE> PAGE 22
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
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
071 A000400 16292
071 B000400 12045
071 C000400 34693
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072 A000400 12
072 B000400 2188
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<PAGE> PAGE 23
072 P000400 0
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<PAGE> PAGE 24
074 Y000400 0
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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 CITIBANK, N.A.
015 B000504 S
015 C010504 BUENOS AIRES
015 D010504 ARGENTINA
015 E040504 X
015 A000505 DEUTSCHE BANK, AG
015 B000505 S
015 C010505 FRANKFURT
015 D010505 GERMANY
015 E040505 X
015 A000506 DEN DANSKE BANK
015 B000506 S
015 C010506 COPENHAGEN
015 D010506 DENMARK
015 E040506 X
015 A000507 MERITA BANK
015 B000507 S
015 C010507 HELSINKI
015 D010507 FINLAND
015 E040507 X
015 A000508 BANK OF BOSTON
015 B000508 S
015 C010508 SAN PAULO
015 D010508 BRAZIL
015 E040508 X
015 A000509 BANQUE INDOSUEZ
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<PAGE> PAGE 25
015 D010509 FRANCE
015 E040509 X
015 A000510 ABN AMRO BANK
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
015 D010513 JAPAN
015 E040513 X
015 A000514 HONGKONG BANK MALAYSIA BERHAD
015 B000514 S
015 C010514 KUALA LUMPUR
015 D010514 MALAYSIA
015 E040514 X
015 A000515 HONGKONG & SHANGHAI BANKING CORP.
015 B000515 S
015 C010515 SINGAPORE
015 D010515 SINGAPORE
015 E040515 X
015 A000516 CHRISTIANA BANK
015 B000516 S
015 C010516 OSLO
015 D010516 NORWAY
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015 A000517 CITIBANK, N.A.
015 B000517 S
015 C010517 MANILA
015 D010517 PHILIPPINES
015 E040517 X
015 A000518 BANCO SANTANDER
015 B000518 S
015 C010518 MADRID
015 D010518 SPAIN
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015 A000519 SKANDINAVISKA ENSKILDA BANKEN
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015 C010519 STOCKHOLM
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<PAGE> PAGE 26
015 E040519 X
015 A000520 HONGKONG & SHANGHAI BANKING CORP.
015 B000520 S
015 C010520 HONG KONG
015 D010520 HONG KONG
015 E040520 X
015 A000521 BANCA COMMERCIALE
015 B000521 S
015 C010521 MILAN
015 D010521 ITALY
015 E040521 X
015 A000522 CITIBANK MEXICO
015 B000522 S
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015 D010522 MEXICO
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015 A000523 UNION BANK OF SWITZERLAND
015 B000523 S
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015 A000524 HONGKONG & SHANGHAI BANKING CORP.
015 B000524 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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066 A000500 Y
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066 F000500 N
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067 000500 N
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070 K010500 Y
<PAGE> PAGE 29
070 K020500 N
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070 L020500 Y
070 M010500 Y
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<PAGE> PAGE 30
072EE000500 0
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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
<PAGE> PAGE 31
015 A000603 CITIBANK MEXICO
015 B000603 S
015 C010603 MEXICO CITY
015 D010603 MEXICO
015 E040603 X
015 A000604 BROWN BROTHERS HARRIMAN & CO.
015 B000604 S
015 C010604 BOSTON
015 C020604 MA
015 C030604 02109
015 E010604 X
015 A000605 ABN AMRO BANK
015 B000605 S
015 C010605 AMSTERDAM
015 D010605 NETHERLANDS
015 E040605 X
015 A000606 UNION BANK OF SWITZERLAND
015 B000606 S
015 C010606 ZURICH
015 D010606 SWITZERLAND
015 E040606 X
015 A000607 MIDLAND BANK PLC
015 B000607 S
015 C010607 LONDON
015 D010607 ENGLAND
015 E040607 X
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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, 1997 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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<OTHER-INCOME> 0
<EXPENSES-NET> (5,209,371)
<NET-INVESTMENT-INCOME> (440,135)
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<NUMBER-OF-SHARES-REDEEMED> (2,182,958)
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<PER-SHARE-NAV-BEGIN> 16.34
<PER-SHARE-NII> (0.02)
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<PER-SHARE-DISTRIBUTIONS> (0.11)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT OF
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
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<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 193,593,713
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<TOTAL-ASSETS> 201,074,389
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,647,036
<NUMBER-OF-SHARES-REDEEMED> (2,712,593)
<SHARES-REINVESTED> 341,945
<NET-CHANGE-IN-ASSETS> (4,206,175)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,904,258
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,989,630
<AVERAGE-NET-ASSETS> 234,914,001
<PER-SHARE-NAV-BEGIN> 21
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> (2.18)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.60)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.16
<EXPENSE-RATIO> 2.12
<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, 1997 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-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 18,084,258
<INVESTMENTS-AT-VALUE> 17,767,389
<RECEIVABLES> 388,533
<ASSETS-OTHER> 3,339
<OTHER-ITEMS-ASSETS> 320
<TOTAL-ASSETS> 18,159,581
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 284,542
<TOTAL-LIABILITIES> 284,542
<SENIOR-EQUITY> 18,053
<PAID-IN-CAPITAL-COMMON> 18,262,177
<SHARES-COMMON-STOCK> 1,805,335
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (88,322)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (316,869)
<NET-ASSETS> 17,875,039
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,254,083
<OTHER-INCOME> 0
<EXPENSES-NET> (401,535)
<NET-INVESTMENT-INCOME> 852,548
<REALIZED-GAINS-CURRENT> (88,346)
<APPREC-INCREASE-CURRENT> (110,492)
<NET-CHANGE-FROM-OPS> 653,710
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (852,548)
<DISTRIBUTIONS-OF-GAINS> (15,813)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 542,972
<NUMBER-OF-SHARES-REDEEMED> (1,190,546)
<SHARES-REINVESTED> 84,370
<NET-CHANGE-IN-ASSETS> (5,807,491)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 108,389
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 401,535
<AVERAGE-NET-ASSETS> 19,381,246
<PER-SHARE-NAV-BEGIN> 10
<PER-SHARE-NII> .44
<PER-SHARE-GAIN-APPREC> (0.09)
<PER-SHARE-DIVIDEND> (0.44)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.9
<EXPENSE-RATIO> 2.07
<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, 1997 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-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 35,806,635
<INVESTMENTS-AT-VALUE> 36,319,575
<RECEIVABLES> 671,033
<ASSETS-OTHER> 3,359
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 36,993,967
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 375,353
<TOTAL-LIABILITIES> 375,353
<SENIOR-EQUITY> 34,111
<PAID-IN-CAPITAL-COMMON> 36,320,553
<SHARES-COMMON-STOCK> 3,411,071
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (248,990)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 512,940
<NET-ASSETS> 36,618,614
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,188,413
<OTHER-INCOME> 0
<EXPENSES-NET> (689,403)
<NET-INVESTMENT-INCOME> 1,499,010
<REALIZED-GAINS-CURRENT> 308,152
<APPREC-INCREASE-CURRENT> 23,298
<NET-CHANGE-FROM-OPS> 1,830,460
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,499,010)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 690,053
<NUMBER-OF-SHARES-REDEEMED> (587,793)
<SHARES-REINVESTED> 123,336
<NET-CHANGE-IN-ASSETS> 2,748,763
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 200,636
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 689,403
<AVERAGE-NET-ASSETS> 35,884,523
<PER-SHARE-NAV-BEGIN> 10.63
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> 0.11
<PER-SHARE-DIVIDEND> (0.45)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.74
<EXPENSE-RATIO> 1.92
<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, 1997 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-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 48,775,835
<INVESTMENTS-AT-VALUE> 53,845,344
<RECEIVABLES> 1,384,661
<ASSETS-OTHER> 3,335
<OTHER-ITEMS-ASSETS> 2,997
<TOTAL-ASSETS> 55,236,337
<PAYABLE-FOR-SECURITIES> 4,372,301
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 164,689
<TOTAL-LIABILITIES> 4,536,990
<SENIOR-EQUITY> 40,886
<PAID-IN-CAPITAL-COMMON> 43,052,909
<SHARES-COMMON-STOCK> 4,088,575
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,559,619
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,045,933
<NET-ASSETS> 50,699,347
<DIVIDEND-INCOME> 348,846
<INTEREST-INCOME> 258,150
<OTHER-INCOME> 0
<EXPENSES-NET> (771,357)
<NET-INVESTMENT-INCOME> (164,361)
<REALIZED-GAINS-CURRENT> 3,176,354
<APPREC-INCREASE-CURRENT> 4,292,907
<NET-CHANGE-FROM-OPS> 7,304,900
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (27,640)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,255,819
<NUMBER-OF-SHARES-REDEEMED> (271,021)
<SHARES-REINVESTED> 2,466
<NET-CHANGE-IN-ASSETS> 29,818,341
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 251,914
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 771,357
<AVERAGE-NET-ASSETS> 31,433,467
<PER-SHARE-NAV-BEGIN> 9.94
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 2.50
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.40
<EXPENSE-RATIO> 2.46
<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, 1997 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-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 13,778,178
<INVESTMENTS-AT-VALUE> 13,276,675
<RECEIVABLES> 322,320
<ASSETS-OTHER> 555
<OTHER-ITEMS-ASSETS> 2,517
<TOTAL-ASSETS> 13,602,067
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 88,361
<TOTAL-LIABILITIES> 88,361
<SENIOR-EQUITY> 13,892
<PAID-IN-CAPITAL-COMMON> 14,196,290
<SHARES-COMMON-STOCK> 1,389,190
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 31,035
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (226,008)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (501,503)
<NET-ASSETS> 13,513,706
<DIVIDEND-INCOME> 54,477
<INTEREST-INCOME> 627,008
<OTHER-INCOME> 0
<EXPENSES-NET> (363,178)
<NET-INVESTMENT-INCOME> 318,307
<REALIZED-GAINS-CURRENT> (222,565)
<APPREC-INCREASE-CURRENT> (178,352)
<NET-CHANGE-FROM-OPS> (82,610)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (293,957)
<DISTRIBUTIONS-OF-GAINS> (191,019)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 660,388
<NUMBER-OF-SHARES-REDEEMED> (621,105)
<SHARES-REINVESTED> 47,538
<NET-CHANGE-IN-ASSETS> 291,249
<ACCUMULATED-NII-PRIOR> 4,882
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 116,390
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 363,178
<AVERAGE-NET-ASSETS> 14,418,205
<PER-SHARE-NAV-BEGIN> 10.15
<PER-SHARE-NII> .23
<PER-SHARE-GAIN-APPREC> (0.30)
<PER-SHARE-DIVIDEND> (0.21)
<PER-SHARE-DISTRIBUTIONS> (0.14)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.73
<EXPENSE-RATIO> 2.52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
