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Ivy IG International Small Cap Fund

  • $10.06 NAV as of 1/13/2017
  • ($0.06) / 0.60% Daily NAV Change
  • YTD (NAV)

Summary

Your international gateway to small cap opportunities

Sound philosophy
Seeks small-cap companies across the international landscape that exhibit perceived growth at a reasonable price.
Fundamental + Thematic
Fund employs a proprietary, fundamentally driven stock selection process while incorporating a top-down view for thematic drivers.
Proven manager
I.G. International Management Limited, the Fund's subadvisor, has managed international small cap strategies since 2002. The portfolio management team has more than 35 years industry experience.

Portfolio Management

Martin Fahey, CFA

  • I.G. International Management Limited
  • 1 Year with Fund
  • 28 Years in Industry
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Martin Fahey brings more than 25 years of experience and a broad European and international scope to the investment decision making process and fund management at I.G. International Management Limited. Prior to joining the firm in 1993, Martin held various investment management positions at AMP Asset Management and United Friendly Insurance. As Head of European Equities, Martin is responsible for overseeing the investment process of all European mandates. Mr. Martin Fahey is the Portfolio Manager for Investors European Equity Fund, Investors European Mid-Cap Equity Fund, Investors International Small Cap Class and Ivy IG International Small Cap Fund. A native of Ireland, Martin is a Chartered Financial Analyst charterholder and has also successfully completed the International Investment Management Research exam. He earned his Bachelor of Commerce and Master of Business Studies (Honors) degree at University College Galway.

Bryan Mattei, CFA

  • I.G. International Management Limited
  • 1 Year with Fund
  • 10 Years in Industry
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Bryan Mattei brings more than 10 years of experience in the investment management industry to I.G. International Management Limited and is located in our Hong Kong office. Prior to joining I.G. International Management Limited in 2013, Bryan was Head of Research for Cantor Fitzgerald in Ireland. Before this he was Equity Fund Manager in the Wealth Management division of IBRC in Dublin where he managed the Japan Equity Fund and the European Equity Fund. He was Co-manager of both the Large Cap M&A and Long/Short Equity funds. As Portfolio Manager, Bryan focuses on the Asian small cap sector with a particular emphasis on Japan. Bryan is Co-Portfolio manager for Investors International Small Cap Fund and Ivy IG International Small Cap Fund, where he is focused on developed markets in Asia, and Investors Pan Asian Equity Fund. Originally from the U.S., Mattei is a Chartered Financial Analyst. He earned his Bachelor of Science magna cum laude from Boston College, Carroll School of Management and also studied business, economics and social sciences at the University of Dublin, Trinity College.

Daily Prices as of 1/13/2017

Net Asset Value (NAV) $10.06
Daily NAV Change ($) ($0.06) 0.60%
Weekly NAV Change ($) $0.00 0.00%
Public Offering Price (POP) $10.67

Fund Facts

Ticker Symbol IVJAX
CUSIP 46600A682
Fund Code 678
Fund Type Global/International
Fund Inception 1/10/2017
Class Inception 1/10/2017
Fiscal Year End September
Dividends Paid December
Fund Assets (as of 1/3/2017) $25 mil
Lipper Category International Small-/Mid-Cap Growth Funds
Benchmark MSCI EAFE Small Cap NR USD

Performance

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 12/31/2016
(Returns for periods of less than 1-yr are not annualized)
 
Fund at NAV

Quarterly Rates of Return

Average Annual Total Returns as of 12/31/2016
(Returns for periods of less than 1-yr are not annualized)
 
Fund at NAV

Expense Ratios as of 1/10/2017

Net 1.45%
Gross 1.53%

5-Year Standard Deviation as of

MSCI EAFE Small Cap NR USD N/A

Distributions

Historical Prices Inception 1/10/2017

1/10/2017 $10.00 NO NO
1/11/2017 $10.01 NO NO
1/12/2017 $10.00 NO NO
1/13/2017 $10.06 NO NO

Historical Distributions Inception 1/10/2017

No results found.

*Special Dividend The table includes the daily prices at NAV (net asset value) for the history of this fund's selected share class. NAV is the amount per share you would receive if you sold shares that day.

Portfolio

Total Portfolio Holdings

Updated quarterly, upon availability.

Total Portfolio Holdings

Updated quarterly, upon availability.

Documents

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Documents

Risk factors: The value of the Fund's shares will change, and you could lose money on your investment. 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. Investing in small-cap stocks may carry more risk than investing in stocks of larger more well-established companies. The value of a security believed by the Fund's manager to be undervalued may never reach what the manager believes to be its full value, or such security's value may decrease. 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.

The MSCI EAFE Small Cap Index is an equity index which captures small cap representation across developed markets and countries around the world, excluding the US and Canada. It is not possible to invest in an index.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2018, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), 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 (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.45% and Class I shares at 1.15%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees. Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes below its respective expense cap. Fee Waiver and/or Expense Reimbursement: Through January 31, 2018, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent the Board of Trustees.

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

When a fund's share class has less than a year of performance to report, the returns shown are cumulative.

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

The Fund is sub-advised by I.G. International Management Limited, which delegates to its subsidiary, I.G. Investment Management (Hong Kong) Limited, for additional portfolio management responsibilities. References to I.G. International Management Limited include both entities.

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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