-----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, DEx5rZQ5fb8XLqglbW+eJ1CilxYGbT6yTMIhRJ4R39GCXpwvWsFbO4E8yCY4QlHp FJELb3FMY9R3YD9Vd0Ozuw== 0001105607-09-000064.txt : 20090408 0001105607-09-000064.hdr.sgml : 20090408 20090408161703 ACCESSION NUMBER: 0001105607-09-000064 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090408 DATE AS OF CHANGE: 20090408 EFFECTIVENESS DATE: 20090408 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: 09740079 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

0000052858 S000024735 Ivy Micro Cap Growth Fund

C000073470 Class A

C000073471 Class B

C000073472 Class C

C000073473 Class I

C000073474 Class Y

497 1 ivymcg497_40809.htm STICKER



IVY MICRO CAP GROWTH FUND

Supplement dated April 8, 2009
to the
Prospectus dated January 2, 2009
and supplemented January 2, 2009 and February 17, 2009


Appendix A, Prior Performance of Related Fund, is hereby amended as follows:

The following replaces the performance table for Ivy Funds VIP Micro Cap Growth:

Average Annual Total Returns
Ivy Funds VIP Micro Cap Growth
as of December 31, 2008
	1 Year	5 Years	10 Years
Shares of Ivy Funds VIP Micro Cap Growth	-48.04%	-3.74%	2.27%
Russell 2000® Growth Index¹	-38.56%	-2.37%	-0.76%
Russell Micro Cap Growth Index^{1, 2}	-44.65%	-7.95%	N/A


¹Reflects no deduction for fees, expenses or taxes.
²The Russell Micro Cap Growth Index has been added as an additional comparative broad-based index for the Portfolio.



WRP3800AB

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