Waddell & Reed's Ivy Funds group is putting together a package for investors seeking some international spice. The funds from the Kansas City brokerage firm will invest in a mix of existing Ivy Funds products in pre-packaged model portfolios. The funds highlight the stock-picking talents of Templeton Investment Counsel and Henderson Investment Management, says Ivy Funds CEO Tom Butch. -ed.
Ivy Funds today announced
that it has launched two new international funds-of-funds that will provide
investors with a convenient international diversification model using
different combinations of Ivy's international mutual funds.
among the underlying funds will be managed actively, with Chief Investment
Officer Michael Avery serving as portfolio manager.
Ivy Managed International Opportunities Fund will invest in a blend of
-- Ivy International Balanced Fund, which offers a consistent mix of
overseas stocks and high quality overseas bonds.
-- Ivy International Core Equity Fund, which targets large, undervalued
-- Ivy International Growth Fund, which targets large, growth-oriented
-- Ivy European Opportunities Fund, focusing on large and mid-size stocks
across Europe's developed markets.
-- Ivy Pacific Opportunities Fund, focusing on large companies in Asia's
Ivy Managed EuroPacific Fund will invest in a blend of Ivy European
Opportunities Fund and Ivy Pacific Opportunities Fund.
The new funds were designed to address two primary investor needs. Ivy
Managed International Opportunities is broadly diversified, offering
exposure to large and mid-sized companies across Europe, with some exposure
to Asia and some fixed-income exposure. Ivy Managed EuroPacific Fund offers
more concentrated regional exposure.
The funds bring to bear the investment capabilities of Ivy Investment
Management Company, as well as Templeton Investment Counsel, which serves
as subadvisor for the Ivy International Balanced Fund, and of Henderson
Investment Management, which subadvises the Ivy European Opportunities
"Even with the dramatic acceleration of international fund flows over
the last few years, investor exposure to international equities still
hovers at about 15 percent," said Thomas W. Butch, president and CEO of Ivy
Funds Distributor, Inc. "In a rapidly globalizing world, this figure is
likely to increase over the coming years. Our new funds offer multiple
managers and active allocation in a format that provides a simple means to
gain the benefits of diversified international exposure."
The Ivy Funds ranked among the fastest growing mutual fund families in
2006, according to a recent study released by Financial Research
Corporation (FRC). The Ivy Funds, with a 68 percent increase in assets
under management in 2006, ranked fourth in terms of asset growth over the
year among all firms with assets of $5 billion or greater. Asset growth has
been strong since the Ivy Funds were relaunched in 2003, with total assets
reaching $12.4 billion at year-end 2006.
The Ivy Funds are managed by Ivy Investment Management Company and
distributed by its subsidiary, Ivy Funds Distributor, Inc. Please remember
that, as with any mutual fund, investment return and principal value of an
investment will fluctuate, and shares, when redeemed, may be worth more or
less than their original cost.
International investing involves additional risks including currency
fluctuations, political or economic conditions affecting the foreign
country, and differences in accounting standards and foreign regulations.
These risks are magnified in emerging markets.
Investors should consider the investment objectives, risks, charges and
expenses of a fund carefully before investing. For a prospectus containing
this and other information for any of the Ivy Funds, call your financial
advisor or visit http://www.ivyfunds.com. Please read the prospectus
carefully before investing.
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