For some mutual fund firms, one challenge has been not to let sales be dependent on just a hot product or two.

In the case of Waddell & Reed, which runs the Ivy Funds, company officials said Tuesday they're continuing to improve sales in products beyond their two best-sellers, the Asset Strategy and Global Natural Resources funds.

In the first quarter, the firm recorded gross sales of $900 million in other products, up from $800 million in the final quarter of 2009 and $600 million in the first quarter of last year.

"The number of products experiencing meaningful sales continues to expand," company officials said in a news release on Tuesday. 

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