-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PiO45uHOdaxDxKd9ztTT6Zf+LhZKuMssQrPjLhP8T4QPVdY2JG/YKOe/s+8/NnO5 Q6IHRsGywlJ0m7Jg1WB7Jg== 0001105607-04-000439.txt : 20041203 0001105607-04-000439.hdr.sgml : 20041203 20041203130620 ACCESSION NUMBER: 0001105607-04-000439 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20041203 DATE AS OF CHANGE: 20041203 EFFECTIVENESS DATE: 20041203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IVY FUNDS CENTRAL INDEX KEY: 0000052858 IRS NUMBER: 046006759 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-17613 FILM NUMBER: 041182850 BUSINESS ADDRESS: STREET 1: 6300 LAMAR AVENUE STREET 2: P. O. BOX 29217 CITY: OVERLAND PARK STATE: KS ZIP: 66202 BUSINESS PHONE: 913-236-2000 MAIL ADDRESS: STREET 1: P. O. BOX 29217 CITY: SHAWNEE MISSION STATE: KS ZIP: 66201-9217 FORMER COMPANY: FORMER CONFORMED NAME: IVY FUND DATE OF NAME CHANGE: 19920703 497 1 ivy_supsai12-04.htm 497E STICKER
Ivy Funds

Supplement dated December 3, 2004 to the
Statement of Additional Information for
Ivy Funds dated July 29, 2004
and supplemented September 1, 2004 and October 1, 2004

 

         MetLife, Inc., the parent company of State Street Research & Management Company ("SSRM"), announced that it has entered into an agreement to sell SSRM, the current sub-advisor for Ivy Small Cap Value Fund (the "Fund"), to BlackRock, Inc. The transaction is expected to close in January 2005 and will automatically terminate the Fund's investment sub-advisory agreement with SSRM.

         Consequently, Waddell & Reed Ivy Investment Company ("WRIICO"), the investment manager for the Ivy Funds, has proposed a new investment sub-advisory agreement with BlackRock Financial Management, Inc. ("BlackRock"), a wholly-owned subsidiary of BlackRock, Inc. On November 17, 2004, the Board of Trustees of Ivy Funds considered and approved a new investment sub-advisory agreement between WRIICO and BlackRock, and recommended that shareholders of the Fund also approve that agreement. Shareholders of record on November 23, 2004 will be asked to consider the appointment of BlackRock as the new sub-advisor for the Fund at a Special Meeting of Shareholders that is anticipated to be held on January 27, 2005. At their meeting, the Board of Trustees also approved an interim investment sub-advisory agreement between WRIICO and BlackRock with respect to the Fund in the event that shareholders have not approved the proposed sub-advisory agreement prior to the close of the MetLife/BlackRock transaction. The interim agreement is substantially identical to the proposed investment sub-advisory agreement between WRIICO and BlackRock, except that its term expires 150 days from the date of the close of the MetLife/BlackRock transaction.

         A proxy statement relating to this proposal is expected to be mailed to shareholders of the Fund in December 2004.

 

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