EXHIBIT (A)(29)

                                    IVY FUND
                             Ivy International Fund
                   Establishment and Designation of Additional
                     Class of Shares of Beneficial Interest,
                             No Par Value Per Share

         I,  James W.  Broadfoot,  being a duly  elected,  qualified  and acting
Trustee of Ivy Fund (the "Trust"),  a business trust organized under the laws of
the  Commonwealth of  Massachusetts,  DO HEREBY CERTIFY that, by Written Consent
dated June 27,  2000,  the Trustees of the Trust (the  "Trustees"),  pursuant to
Article  III and Article IV of the  Agreement  and  Declaration  of Trust of the
Trust dated  December 21, 1983,  as amended and restated  December 10, 1992 (the
"Declaration of Trust"),  duly approved,  adopted and consented to the following
resolutions as actions of the Trustees of the Trust:

         WHEREAS, Ivy International Fund (the "Fund") currently has an unlimited
         number  of  authorized  and  unissued  shares  of  beneficial  interest
         designated as "Class A," "Class B," "Class C" and "Class I"; and

         WHEREAS,  the Trustees  have decided to divide the shares of beneficial
         interest of the Fund into an additional class, no par value per share;

         NOW, THEREFORE, IT IS HEREBY:

         RESOLVED, that the shares of beneficial interest of the Fund are hereby
         divided  into one  additional  class,  no par  value per  share,  to be
         designated  as the  "Advisor  Class," of which  there  shall  hereby be
         designated  an unlimited  number of authorized  and unissued  shares of
         beneficial interest (the "Advisor Class Shares");

         FURTHER  RESOLVED,  that each Advisor  Class Share of the Fund shall be
         redeemable,  shall  represent  a pro rata  beneficial  interest  in the
         assets  attributable  to the  Advisor  Class,  and shall be entitled to
         receive  its pro rata share of net assets  attributable  to the Advisor
         Class  upon  liquidation  of  the  Fund,  all  as  provided  in or  not
         inconsistent  with the  Declaration of Trust.  Each Advisor Class Share
         shall  have  the  voting,  dividend,   liquidation  and  other  rights,
         preferences, powers, restrictions,  limitations,  qualifications, terms
         and  conditions  as each other share of the Trust,  as set forth in the
         Declaration of Trust;

         FURTHER  RESOLVED,  that each Advisor  Class Share of the Fund shall be
         entitled to one vote (or  fraction  thereof in the case of a fractional
         share) on matters  on which  such  shares  shall be  entitled  to vote.
         Shareholders  of the Fund shall vote together on any matter,  except to
         the extent otherwise required by the 1940 Act or when the Trustees have
         determined that the matter affects only the interest of shareholders of
         one or more classes,  in which case only the shareholders of that class
         (or  classes)  shall be entitled to vote  thereon.  Any matter shall be
         deemed to have been effectively  acted upon with respect to the Fund if
         acted upon in  accordance  with Rule  18f-2  under the 1940 Act (or any
         successor rule) and the Declaration of Trust;

         FURTHER  RESOLVED,  that  liabilities,   expenses,  costs,  charges  or
         reserves  that should be properly  allocated to a  particular  class of
         shares of the Fund may, in accordance with a plan previously adopted by
         the Trustees pursuant to Rule 18f-3 under the 1940 Act (the "Rule 18f-3
         Plan"),  or such similar rule under or provision or  interpretation  of
         the 1940 Act,  be charged to and borne  solely by that  class,  and the
         expenses so borne by a class may be  appropriately  reflected and cause
         differences in the net asset value  attributable  to, and the dividend,
         redemption and liquidation rights of, the shares of the affected class,
         the other classes of the Fund, and the other series of the Trust;

         FURTHER RESOLVED,  that the Trustees  (including any successor Trustee)
         shall  have the right at any time and from  time to time to  reallocate
         assets,  liabilities  and expenses or to change the  designation of any
         class now or hereafter created,  or to otherwise change the special and
         relative rights of any such class,  provided that such change shall not
         adversely affect the rights of shareholders of that class; and

         FURTHER  RESOLVED,  that the preceding  resolutions shall constitute an
         Amendment to the  Declaration  of Trust,  effective as of the date that
         the  Registration  Statement  pertaining  to the Advisor  Class  Shares
         described in the following  resolution is filed with the Securities and
         Exchange Commission ("SEC"), and that the officers of the Trust be, and
         they hereby are,  authorized to file such Amendment to the  Declaration
         of Trust in the offices of the Commonwealth of Massachusetts.

         IN WITNESS WHEREOF, I have signed this Amendment this 28th day of June,
2000.

                                              /s/ JAMES W. BROADFOOT
                                              ----------------------
                                             James W. Broadfoot, as Trustee

         The above signature is the true and correct  signature  of  James  W.
         Broadfoot, Trustee of the Trust.



                                              /s/ C. WILLIAM FERRIS
                                              ---------------------
                                          C. William Ferris, Secretary/Treasurer