Thursday, July 3, 2003
Ivy Funds Reorg is Complete
by:
Sean Hanna, Editor in Chief
Waddell & Reed Financial has finished melding the Ivy Funds and W&R Funds under the Ivy Funds and Waddell & Reed Advisor Funds brands. The reorganization was precipitated by Waddell & Reed's acquisition of the Ivy Funds from Canada's MacKenzie Financial Corporation in December 2002.
The Ivy Funds now all carry A, B and C share classes and the same sales load structure as the previous W&R Funds.
"This merger activity has been a critical step in our efforts to invigorate and strengthen the Ivy Funds," said Thomas W. Butch, executive vice president and chief marketing officer of Waddell & Reed and president and chief executive officer of Ivy Funds Distributor in a statement. "The Ivy Funds now offer a wider range of choices than before. And by adding Waddell & Reed's strong investment management
capabilities to the Ivy brand, we believe we have significantly enhanced the attractiveness of the Ivy Funds for financial advisors and fund shareholders."
The following Ivy Funds were involved in mergers:
Domestic equity funds
Merged Ivy US Blue Chip into W&R Core Equity, managed by
Jim Wineland, of Waddell & Reed
Merged Ivy US Emerging Growth into W&R Mid Cap Growth,
managed by Kimberly Scott, of Waddell & Reed
Merged Ivy Growth into Waddell & Reed Advisors
Accumulative, managed by Tony Intagliata, of Waddell & Reed
International/Global equity funds
Merged Ivy International Small Companies into W&R
International Growth, managed by Thomas Mengel, of Waddell &
Reed
Merged Ivy Global into W&R International Growth, managed
by Thomas Mengel, of Waddell & Reed
Merged Ivy Developing Markets into Ivy Pacific
Opportunities, managed by Thomas Mengel, of Waddell & Reed
Specialty funds
Merged Ivy Global Science & Technology into W&R Science
and Technology, managed by Zachary Shafran, of Waddell & Reed
Fixed income funds
Merged Ivy Bond into Waddell & Reed Advisors Bond, managed
by Jim Cusser, of Waddell & Reed
The following Ivy Funds remain as they were:
Ivy Cundill Global Value Fund, subadvised by Peter
Cundill, of Cundill & Associates
Ivy Global Natural Resources Fund, subadvised by Fred
Sturm, of Mackenzie Financial Corp.
Ivy European Opportunities Fund, subadvised by Stephen
Peak, of Henderson Global Investors
Ivy International Fund, managed by Thomas Mengel, of
Waddell & Reed
Ivy International Value Fund, managed by Thomas Mengel, of
Waddell & Reed
Ivy Pacific Opportunities Fund (after absorbing Ivy
Developing Markets Fund), managed by Thomas Mengel, of
Waddell & Reed
Ivy Money Market Fund, managed by Mira Stevovich, of
Waddell & Reed
The following W&R Funds have become Ivy Funds (all managed
by Waddell & Reed):
W&R Large Cap Growth Fund, managed by Dan Becker
W&R Small Cap Growth Fund, managed by Grant Sarris
W&R Asset Strategy Fund, managed by Mike Avery and Dan
Vrabac
W&R Tax-Managed Equity Fund, managed by Barry Ogden
W&R High Income Fund, managed by Louise Rieke
W&R Limited-Term Bond Fund, managed by Pat Sterner
W&R Municipal Bond Fund, managed by Bryan Bailey
The new Ivy Funds family comprises the following:
Domestic equity funds:
Ivy Core Equity Fund, managed by Jim Wineland, with $271.6
million in assets as of June 30
Ivy Dividend Income Fund, managed by David Ginther, a new
fund launched 6/30/03
Ivy Large Cap Growth Fund, managed by Dan Becker, with $33.5
million in assets
Ivy Mid Cap Growth Fund, managed by Kim Scott, with $53.1
million in assets
Ivy Small Cap Growth Fund, managed by Grant Sarris, with
$411.2 million in assets
Ivy Tax-Managed Equity Fund, managed by Barry Ogden, with
$5.3 million in assets
International equity funds:
Ivy Cundill Global Value Fund, managed by Peter Cundill,
with $10.1 million in assets
Ivy European Opportunities Fund, managed by Stephen Peak,
with $65.4 million in assets
Ivy International Value Fund, managed by Thomas Mengel, with
$41.4 million in assets
Ivy Pacific Opportunities Fund, managed by Thomas Mengel,
with $12.3 million in assets
Ivy International Growth Fund, managed by Thomas Mengel,
with $76.3 million in assets
Ivy International Fund, managed by Thomas Mengel, with
$190.4 million in assets
Flexible Portfolio/Specialty:
Ivy Global Natural Resources Fund, managed by Fred Sturm,
with $39.3 million in assets
Ivy Science and Technology Fund, managed by Zachary Shafran,
with $110.5 million in assets
Ivy Asset Strategy Fund, managed by Mike Avery and Dan
Vrabac, with $66.6 million in assets
Fixed income funds:
Ivy High Income Fund, managed by Louise Rieke, with $40.3
million in assets
Ivy Limited-Term Bond Fund, managed by Pat Sterner, with
$80.4 million in assets
Ivy Municipal Bond Fund, managed by Bryan Bailey, with $28.6
million in assets
Ivy Money Market Fund, managed by Mira Stevovich, with $15.3
million in assets 
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