Waddell & Reed

Fund Detail

Ivy Pacific Opportunities Fund
Class A Shares

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Fund Facts
Ticker Symbol IPOAX
CUSIP 465897866
Fund Code 611
Fund Type Global/International
Fund Inception 10/25/1993
Class Inception 10/25/1993
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 4/30/2013) $675.5 mil
Total Equity Holdings (as of 4/30/2013) 71
Total Holdings (as of 4/30/2013) 75
Lipper Category Pacific Ex Japan Funds
Morningstar Category Pacific/Asia ex-Japan Stk
Benchmarks MSCI AC Asia Ex Japan NR USD
Daily Prices
as of 5/17/2013
Net Asset Value (NAV) $14.63
NAV Change ($) $0.08
NAV Change (%) 0.55%
Weekly NAV Change ($) $0.11
Weekly NAV Change (%) 0.76%
Public Offering Price (POP) $15.52
Historical Prices & Distributions
Please select a date
Fund Description
Fund Objective
To seek to provide growth of capital.

Investment Approach
The Fund utilizes a top-down approach of worldwide analysis in order to identify the best countries and sectors for growth, and balances the top-down analysis with bottom-up stock selection to identify the best stocks for investment. The Fund uses an investment approach that focuses on analyzing a company's financial statements and taking advantage of overvalued or undervalued markets.
Morningstar Style Box
Morningstar Style Box
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 4/30/2013
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -0.21% 3.16% -0.12% -0.97% 13.55% 4.25%
Fund with 5.75% sales charge -5.95% -2.78% -2.07% -2.14% 12.88% 3.93%
MSCI AC Asia Ex Japan NR USD
(as of 4/30/2013)
1.28% 8.95% 5.85% 1.66% 15.35% N/A
Lipper Pacific Ex Japan Funds
(as of 4/30/2013)
3.24% 10.74% 6.04% 2.69% 14.98% N/A
Quarterly Rates of Return Average Annual Total Returns
as of 3/31/2013
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -3.01% -0.02% -0.51% 0.20% 13.58% 4.11%
Fund with 5.75% sales charge -8.58% -5.77% -2.45% -0.98% 12.91% 3.80%
Expense Ratios
as of 7/31/2012
Net 1.75%
Gross 1.75%
Growth of a $10,000 Investment
through 4/30/2013
 Pacific Opportunities A
 MSCI AC Asia Ex Japan 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 4/30/2013
Category: Pacific Ex Japan Funds
  Rank Percentile
1 Year 93 / 99 93
3 Year 51 / 57 88
5 Year 27 / 38 70
10 Year 18 / 27 65

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

Morningstar Ratings
as of 4/30/2013
Category: Pacific/Asia ex-Japan Stk
Overall (out of 50 Pacific/Asia ex-Japan Stk)
3 Year (out of 50 Pacific/Asia ex-Japan Stk)
5 Year (out of 37 Pacific/Asia ex-Japan Stk)
10 Year (out of 29 Pacific/Asia ex-Japan Stk)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 4/30/2013)
Foreign Common Stock 98.05%
Cash and Cash Equivalents 1.93%
Corporate Bonds 0.02%
Sector Allocation
(as a % of equity holdings as of 4/30/2013)
Financials 31.7%
Information Technology 17.6%
Consumer Discretionary 15.6%
Telecommunication Services 7.0%
Consumer Staples 6.7%
Industrials 6.0%
Materials 6.0%
Energy 5.0%
Utilities 3.8%
Health Care 0.5%
Real Estate 0.1%
Country Allocation
(as a % of equity holdings as of 4/30/2013)
China 26.2%
South Korea 15.7%
India 12.7%
Hong Kong 11.1%
Taiwan 9.4%
Singapore 6.6%
Thailand 6.1%
Indonesia 5.2%
Philippines 4.9%
United Kingdom 2.2%
Top 10 Equity Holdings
(as a % of net assets as of 4/30/2013)
Samsung Electronics Co., Ltd. is a Korea-based company engaged in the provision of consumer electronics, communication products, semiconductor products and home appliances.Samsung Electronics Co., Ltd. 4.8%
Galaxy Entertainment Group Limited is an investment holding company. The Company, along with its subsidiaries, is engaged in operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China.Galaxy Entertainment Group Limited, ADR 3.9%
China Minsheng Banking Corp., Ltd. is a financial institution which is engaged in corporate, institutional and personal banking sectors in China.China Minsheng Banking Corp., Ltd., H Shares 3.2%
AIA Group Limited is an investment holding company. The Company and its subsidiaries are engaged in provision of products and services to individuals and businesses for their insurance, protection, savings, investment and retirement needs. AIA Group Limited 2.8%
China Communications Services Corporation Limited,H Shares 2.5%
China Overseas Land & Investment Ltd. (COLI), along with its subsidiaries, is principally engaged in property development and investment, real estate agency and management, and treasury operations. The Company operates in three segments: property development, property investment, other operations.China Overseas Land & Investment Limited 2.4%
Thai Beverage Public Company Limited 2.4%
PT Media Nusantara Citra Tbk 2.3%
Singapore Telecommunications Limited 2.2%
Bangkok Bank Public Company Limited 2.2%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 3/31/2013)

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 AC Asia Ex Japan is an unmanaged index comprised of securities that represent the securities markets in the Asia region excluding Japan. 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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