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Rating:Ivy's Best-Selling Fund Sprouts a Sibling Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 28, 2010

Ivy's Best-Selling Fund Sprouts a Sibling

News summary by MFWire's editors

Ivy Funds' best-seller, Ivy Asset Strategy, is about to have a sister. Overland Park, Kansas-based Ivy is gearing up to launch the Ivy Asset Strategy New Opportunities Fund next week. The fund is similar to the $22.9 billion Asset Strategy Fund, but the newer product will have an equity focus on small- and mid-cap companies around the world.

An SEC filing lists May 3 as the date the fund will become available. The fund will have an expense ratio of 150 basis points for A shares, 304 bps for B shares, 240 bps for C shares, 125 bps for I shares, 195 basis points for R shares and 150 bps for Y shares.

"We will hope to get it up on our distribution partner platforms pretty rapidly," according to Ivy Funds Distributor president and CEO Tom Butch in an earnings call on Tuesday. A transcript of the call is posted on SeekingAlpha.com. 

Edited by: Armie Margaret Lee


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