Waddell & Reed

Fund Detail

Ivy International Growth Fund
Class A Shares

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Fund Facts
Ticker Symbol IVINX
CUSIP 465897502
Fund Code 617
Fund Type Global/International
Fund Inception 4/30/1986
Class Inception 4/30/1986
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 6/30/2014) $491.3 mil
Total Equity Holdings (as of 6/30/2014) 66
Total Holdings (as of 6/30/2014) 72
Portfolio Turnover Rate (as of 3/31/2014) 46%
Lipper Category International Large-Cap Growth
Morningstar Category Foreign Large Growth
Benchmarks MSCI EAFE Growth NR USD
Daily Prices
as of 7/28/2014
Net Asset Value (NAV) $42.73
NAV Change ($) ($0.05)
NAV Change (%) -0.12%
Weekly NAV Change ($) ($0.05)
Weekly NAV Change (%) -0.12%
Public Offering Price (POP) $45.34
Historical Prices & Distributions
Please select a date
Fund Description
Fund Objective
To seek to provide growth of capital.

Investment Approach
We utilize a research-based investment process that blends top-down global economic analysis and bottom-up stock selection. After identifying promising opportunities around the world, we seek strong companies in industries which we believe are growing faster than their underlying economies. We look at a number of factors in selecting securities, including a company's competitive position and its sustainability, a company's growth and earnings potential and valuation, a company's financials, management and industry position of the company and strength of the industry, and applicable economic, market and political conditions of the country in which the company is located and/or in which it is doing business.
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 6/30/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 6.16% 24.23% 8.82% 13.69% 8.16% 8.45%
Fund with 5.75% sales charge 0.07% 17.08% 6.69% 12.34% 7.52% 8.22%
MSCI EAFE Growth NR USD 3.56% 20.33% 7.68% 12.22% 7.09% 5.65%
Lipper International Large-Cap Growth 3.51% 19.69% 6.48% 11.50% 7.61% N/A
Quarterly Rates of Return Average Annual Total Returns
as of 6/30/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 6.16% 24.23% 8.82% 13.69% 8.16% 8.45%
Fund with 5.75% sales charge 0.07% 17.08% 6.69% 12.34% 7.52% 8.22%
MSCI EAFE Growth NR USD 3.56% 20.33% 7.68% 12.22% 7.09% 5.65%
Lipper International Large-Cap Growth 3.51% 19.69% 6.48% 11.50% 7.61% N/A
Expense Ratios
as of 7/31/2013
Net 1.48%
Gross 1.48%
Growth of a $10,000 Investment
through 6/30/2014
 International Growth A
 MSCI EAFE Growth NR USD

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 6/30/2014
Category: International Large-Cap Growth
  Rank Percentile
1 Year 15 / 146 11
3 Year 12 / 117 11
5 Year 11 / 108 11
10 Year 32 / 76 42

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

Morningstar Ratings
as of 6/30/2014
Category: Foreign Large Growth
Overall (out of 252 Foreign Large Growth)
3 Year (out of 252 Foreign Large Growth)
5 Year (out of 223 Foreign Large Growth)
10 Year (out of 127 Foreign Large Growth)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 6/30/2014)
Foreign Common Stock 87.68%
Domestic Common Stock 6.25%
Cash and Cash Equivalents 6.07%
Sector Allocation
(as a % of equity holdings as of 6/30/2014)
Consumer Discretionary 27.1%
Health Care 17.1%
Industrials 12.8%
Information Technology 12.7%
Financials 12.5%
Energy 6.5%
Materials 5.6%
Consumer Staples 3.6%
Telecommunication Services 2.0%
Country Allocation
(as a % of equity holdings as of 6/30/2014)
United Kingdom 19.1%
Japan 17.3%
France 13.6%
Germany 10.6%
United States 6.7%
Switzerland 6.7%
China 4.2%
Israel 2.5%
South Korea 2.5%
Australia 2.0%
Hong Kong 1.9%
Spain 1.9%
Taiwan 1.7%
Mexico 1.6%
Ireland 1.5%
Netherlands 1.4%
Norway 1.2%
India 1.0%
Finland 1.0%
Canada 0.8%
Luxembourg 0.5%
Portugal 0.5%
Top 10 Equity Holdings
(as a % of net assets as of 6/30/2014)
Shire plc, a biopharmaceutical company, researches, develops, manufactures, sells, and distributes pharmaceutical products. It operates in three segments: Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine.Shire plc 4.5%
Fuji Heavy Industries, Ltd. is a Japanese multinational corporation and conglomerate primarily involved in aerospace and ground transportation manufacturing. Fuji Heavy Industries Ltd. 3.3%
Vinci Companies is a French construction and electrical engineering company, formerly called SociTtT GTnTrale d'Enterprises.Vinci 2.4%
Hyundai Motor Company manufactures and distributes motor vehicles and parts worldwide.Hyundai Motor Co. 2.4%
Cognizant Technology Solutions Corporation is a provider of custom information technology (IT) consulting and technology services, and outsourcing services.Cognizant Technology Solutions Corp., Class A 2.3%
Teva Pharmaceutical Industries Ltd (Teva) is a global pharmaceutical and drug company. It develops, produces and markets generic drugs in all treatment categories. Teva Pharmaceutical Industries Ltd. ADR 2.3%
A leading manufacturer of semiconductor and FPD production equipment, including plasma and ion etchers, and deposition systems.Tokyo Electron Ltd. 2.3%
Continental AG, commonly known as Continental or Conti, is a leading German auto and truck parts manufacturing company specializing in tires, brake systems, vehicle stability control systems, engine injection systems, tachographs, and other parts for the automotive and transportation industries.Continental AG 2.3%
Fresenius SE is a Germany-based holding company of the Fresenius Group, operating in the healthcare sector, with products and services for dialysis, hospitals and outpatient medical care. The Group also offers engineering and services for hospitals and other healthcare facilities.Fresenius SE & Co. KGaA 2.1%
Anheuser-Busch InBev NV (AB InBev) is engaged in producing, marketing, distributing and selling a strong, balanced portfolio of well over 200 beer brands.InBev N.V. 2.0%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 6/30/2014)

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 EAFE Growth is an unmanaged index comprised of growth securities that represent the securities markets in Europe, Australasia and the Far East. It is not possible to invest directly in an index.

The MSCI information may only be used for your internal use, may not be reproduced or repurposed in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, salability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com) Source: MSCI.

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.

Morningstar Ratings: For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of all sales charges), placing emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) A fund's overall rating is derived from a weighted average of the 3-, 5- and 10-year (if applicable) rating metrics. Morningstar Rating is for the share classes specified; other classes may have different performance characteristics.

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

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