EX-99.B-77G

SUB-ITEM 77G: Defaults on senior securities

1. Nortel Networks Ltd

                  

Ivy Cundill Global Value Fund
	$328,000 10.75% Nortel Networks Ltd bonds due 07/15/2016
	Cusip 656569AD2
	This is a monetary default, they were purchased flat on February 10, 2009
	Amount of default per $1,000 face amount is $4
	Total Amount of default is $7,346
Ivy Cundill Global Value Fund
	$4,606,000 10.75% Nortel Networks Ltd bonds due 07/15/2016
	Cusip 656569AL4
	This is a monetary default, they were purchased flat on January 30, 2009
	Amount of default per $1,000 face amount is $52
	Total Amount of default is $103,155