Waddell & Reed

Fund Detail

Ivy Global Equity Income Fund
Class A Shares

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Fund Facts
Ticker Symbol IBIAX
CUSIP 465899631
Fund Code 659
Fund Type Global/International
Fund Inception 6/4/2012
Class Inception 6/4/2012
Fiscal Year End March
Dividends Paid March, June, September, December
Fund Assets (as of 1/31/2015) $278.8 mil
Total Equity Holdings (as of 1/31/2015) 80
Total Holdings (as of 1/31/2015) 83
Lipper Category Global Equity Income Funds
Morningstar Category World Stock
Benchmarks MSCI World High Dividend Yield NR USD
Daily Prices
as of 2/27/2015
Net Asset Value (NAV) $13.48
NAV Change ($) $0.01
NAV Change (%) 0.07%
Weekly NAV Change ($) $0.10
Weekly NAV Change (%) 0.75%
Public Offering Price (POP) $14.30
Historical Prices & Distributions
Please select a date
Fund Description
Fund Objective
To seek to provide total return through a combination of current income and capital appreciation.

Investment Approach
The Fund invests principally in equity securities issued by companies located largely in developed markets, of any size, that the investment manager believes will be able to generate a reasonable level of current income for investors given current market conditions and that demonstrate favorable prospects for total return. The Fund focuses on companies that the investment manager believes have the ability to maintain and/or grow their dividends while providing capital appreciation over the long-term.
Morningstar Style Box
Source: Morningstar
Returns and Expenses

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Performance at NAV does not include the effect of sales charges. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return Average Annual Total Returns
as of 2/28/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 5.81% 6.97% N/A N/A N/A 16.90%
Fund with 5.75% sales charge -0.30% 0.78% N/A N/A N/A 14.40%
Quarterly Rates of Return Average Annual Total Returns
as of 12/31/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 2.95% 2.95% N/A N/A N/A 15.49%
Fund with 5.75% sales charge -2.97% -2.97% N/A N/A N/A 12.87%
MSCI World High Dividend Yield NR USD 2.48% 2.48% 11.93% 9.14% 5.55% 16.00%
Lipper Global Equity Income Funds 2.22% 2.22% 11.81% 8.57% 4.54% 14.85%
Expense Ratios
as of 7/31/2014
Net 1.30%
Gross 1.48%
12-Month Trailing Distribution Yield
as of 1/31/2015
NAV 3.90%
With sales charge 3.68%
Annualized 30-Day SEC Yield
as of 1/31/2015
Subsidized 2.31%
Unsubsidized 2.26%
Growth of a $10,000 Investment
through 2/28/2015

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Ratings and Rankings
Lipper Rankings
as of 1/31/2015
Category: Global Equity Income Funds
  Rank Percentile
1 Year 26 / 142 19

Rankings are based on average annual total returns, but do not consider sales charges.

Portfolio Composition
(as a % of net assets as of 1/31/2015)
Foreign Common Stock 76.76%
Domestic Common Stock 21.59%
Cash and Cash Equivalents 1.65%
Sector Allocation
(as a % of equity holdings as of 1/31/2015)
Industrials 16.1%
Health Care 15.6%
Financials 14.7%
Consumer Discretionary 13.3%
Consumer Staples 10.5%
Utilities 7.8%
Telecommunication Services 6.8%
Materials 6.0%
Energy 4.7%
Information Technology 4.6%
Country Allocation
(as a % of equity holdings as of 1/31/2015)
United Kingdom 22.8%
United States 22.0%
France 11.1%
Switzerland 6.5%
Japan 5.4%
Australia 5.3%
Netherlands 4.7%
Israel 3.2%
Denmark 2.5%
Spain 2.4%
Germany 2.3%
Sweden 2.2%
Norway 2.2%
Canada 1.8%
Ireland 1.5%
China 1.1%
Belgium 1.1%
Singapore 1.0%
Italy 0.7%

Risk Factors: As with any mutual fund, the value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. These and other risks are more fully described in the fund's prospectus. Not all funds or fund classes may be offered at all broker/ dealers.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time.

Stylebox: The Morningstar Equity style box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.

Index Description: MSCI World High Div Yld NR USD - MSCI World High Dividend Yield Index is designed to reflect the performance of equities (excluding REITs) with higher than average dividend yields that are both sustainable and persistent, first calculated on 5/31/2006. It is not possible to invest directly in an index.

Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2015, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Funds Distributor, Inc. (IFDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses for the Fund’s Class A shares at 1.30%, Class I shares at 0.94% and Class Y shares at 1.19%. Prior to that date, the expense limitation may not be terminated by IICO, IFDI, WISC or the Board of Trustees.

Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

30-Day SEC Yield: is calculated based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund's hypothetical annualized income, as a percentage of its assets. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund's holdings over a trailing 30 day period. This hypothetical income will differ (at times, significantly) from the fund's actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.

Information is subject to change and is not intended to represent any past or future investment recommendations.

Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

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