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
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.
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.
of the call is posted on SeekingAlpha.com.
Armie Margaret Lee
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