EXHIBIT (H)(60)

                                    IVY FUND

                                   ADDENDUM TO
               TRANSFER AGENCY AND SHAREHOLDER SERVICES AGREEMENT

         The Transfer Agency and Shareholder Services Agreement,  made as of the
1st day of January, 1992 between Ivy Fund and Ivy Management,  Inc. ("IMI"), the
duties of IMI  thereunder  of which  were  assigned  on  October  1, 1993 to Ivy
Mackenzie  Services Corp.  ("IMSC")(formerly  "Mackenzie  Ivy Investor  Services
Corp."), is hereby revised as set forth below in this Addendum.

Schedule A of the Agreement is revised in its entirety to read as follows:

                                   SCHEDULE A

Ivy Fees:

         The transfer agency and shareholder service fees are based on an annual
per account fee.  These fees are payable on a monthly  basis at the rate of 1/12
of the annual fee and are charged with respect to all open accounts.

A.       Per Account Fees

                                              Classes    Class         Advisor
Fund Name                                     A, B, C      I            Class

Ivy Bond Fund                                    20.75    10.25           20.75
Ivy Cundill Value Fund                           20.00    10.25           20.00
Ivy Developing Markets Fund                      20.00      N/A           20.00
Ivy European Opportunities Fund                  20.00    10.25           20.00
Ivy Global Fund                                  20.00      N/A           20.00
Ivy Global Natural Resources Fund                20.00      N/A           20.00
Ivy Global Science & Technology Fund             20.00    10.25           20.00
Ivy Growth Fund                                  20.00      N/A           20.00
Ivy International Fund                           20.00    10.25            N/A
Ivy International Growth Fund                    20.00    10.25           20.00
Ivy International Small Companies Fund           20.00    10.25           20.00
Ivy International Strategic Bond Fund            20.00    10.25           20.00
Ivy International Value Fund                     20.00    10.25           20.00
Ivy Money Market Fund                            22.00      N/A            N/A
Ivy Pacific Opportunities                        20.00      N/A           20.00
Ivy US Blue Chip Fund                            20.00    10.25           20.00
Ivy US Emerging Growth Fund                      20.00      N/A           20.00

         In addition,  in  accordance  with an agreement  between IMSC and First
Data Investor  Services Group,  Inc.  (formerly The Shareholder  Services Group,
Inc.), each Fund will pay a fee of $4.70 for each account that is closed,  which
fee may be  increased  from  time to time in  accordance  with the terms of that
agreement.

B.       Special Services

         Fees for activities of a non-recurring  nature,  such as preparation of
special reports, portfolio consolidations, or reorganization,  and extraordinary
shipments will be subject to negotiation.

         This  Addendum  shall take effect as of the date that the  Registration
Statement pertaining to Ivy International Growth Fund, filed with the Securities
and Exchange  Commission  pursuant to Rule 485(a)(1) under the Securities Act of
1933, first becomes effective.

         IN WITNESS WHEREOF,  the parties hereto have caused this Addendum to be
executed as of the 8th day of December, 2000.

                                            IVY FUND


                                               /s/ JAMES W. BROADFOOT
                                        By:      __________________________
                                                James W. Broadfoot, President

                                            IVY MACKENZIE SERVICES CORP.


                                                  /S/ C. WILLIAM FERRIS
                                         By:      __________________________
                                                 C. William Ferris, President