The firm announced six Ivy funds will be integrated into existing W&R funds and all W&R funds would operate under the Ivy Funds brand. Following the mergers, the new Ivy Funds family would comprise 19 funds with current assets of approximately $1.6 billion, according to a news release.
The outcomes are as follows:
Domestic equity funds
- Merged Ivy US Blue Chip into W&R Core Equity, managed by Jim Wineland of Waddell & Reed
- Merged Ivy US Emerging Growth into W&R Mid Cap Growth, managed by Kimberly Scott of Waddell & Reed
- Merged Ivy Growth into Waddell & Reed Advisors Accumulative, managed by Tony Intagliata of Waddell & Reed.
International/Global equity funds
- Merged Ivy International Small Companies into W&R International Growth, managed by Thomas Mengel of Waddell & Reed
- Merged Ivy Global into W&R International Growth, managed by Thomas Mengel of Waddell & Reed
- Merged Ivy Developing Markets into Ivy Pacific Opportunities, managed by Thomas Mengel of Waddell & Reed.
- Merged Ivy Global Science & Technology into W&R Science and Technology, managed by Zachary Shafran of Waddell & Reed.
Fixed income funds
- Merged Ivy Bond into Waddell & Reed Advisors Bond, managed by Jim Cusser of Waddell & Reed
- Merge Ivy Money Market into W&R Money Market, managed by Mira Stevovich of Waddell & Reed.
The following W&R Funds will become Ivy Funds (all managed by Waddell & Reed):
- W&R Large Cap Growth Fund, managed by Dan Becker
- W&R Small Cap Growth Fund, managed by Grant Sarris
- W&R Asset Strategy Fund, managed by Mike Avery and Dan Vrabac
- W&R Tax-Managed Equity Fund, managed by Barry Ogden
- W&R High Income Fund, managed by Louise Rieke
- W&R Limited-Term Bond Fund, managed by Pat Sterner
- W&R Municipal Bond Fund, managed by Bryan Bailey.
The following Ivy Funds remain as they were:
- Ivy Cundill Global Value Fund, subadvised by PeterCundill, of Cundill & Associates
- Ivy Global Natural Resources Fund, subadvised by FredSturm, of Mackenzie Financial Corp.
- Ivy European Opportunities Fund, subadvised by StephenPeak, of Henderson Global Investors
- Ivy International Fund, managed by Thomas Mengel, ofWaddell & Reed
- Ivy International Value Fund, managed by Thomas Mengel, ofWaddell & Reed
- Ivy Pacific Opportunities Fund (after absorbing IvyDeveloping Markets Fund), managed by Thomas Mengel, ofWaddell & Reed.
The Ivy Funds were previously managed by Mackenzie Investment Management, Inc., the US investment management subsidiary of Toronto-based Mackenzie Financial Corporation, which was acquired by Waddell & Reed Financial, Inc. last December. The Ivy Funds now carry the same share classes and the same sales load structure as the previous W&R Funds (A,B,C &Y).