0001137439-21-000855.txt : 20210914 0001137439-21-000855.hdr.sgml : 20210914 20210914141751 ACCESSION NUMBER: 0001137439-21-000855 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210914 DATE AS OF CHANGE: 20210914 EFFECTIVENESS DATE: 20210914 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ivy Variable Insurance Portfolios CENTRAL INDEX KEY: 0000810016 IRS NUMBER: 481146010 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-11466 FILM NUMBER: 211252065 BUSINESS ADDRESS: STREET 1: 6300 LAMAR AVENUE CITY: OVERLAND PARK STATE: KS ZIP: 66202 BUSINESS PHONE: 9132362000 MAIL ADDRESS: STREET 1: P O BOX 29217 CITY: SHAWNEE MISSION STATE: KS ZIP: 66201-9217 FORMER COMPANY: FORMER CONFORMED NAME: Ivy Funds Variable Insurance Portfolios DATE OF NAME CHANGE: 20100301 FORMER COMPANY: FORMER CONFORMED NAME: Ivy Funds Variable Insurance Portfolios, Inc. DATE OF NAME CHANGE: 20080819 FORMER COMPANY: FORMER CONFORMED NAME: W&R TARGET FUNDS INC DATE OF NAME CHANGE: 20001026 0000810016 S000006235 Delaware Ivy VIP Balanced C000017169 Class II 497K 1 divipbalanced497k.htm

IVY VARIABLE INSURANCE PORTFOLIOS
Delaware Ivy VIP Balanced
(formerly, Ivy VIP Balanced)
(the “Portfolio”)

Supplement to the Portfolio’s Summary Prospectus

On September 13, 2021, the Board of Trustees (Board) of the Ivy Variable Insurance Portfolios approved the appointment of Macquarie Investment Management Austria Kapitalanlage (MIMAK) portfolio managers, along with Aaron D. Young, as new portfolio managers for the Portfolio.  In connection with these changes, the Board voted to approve applicable revisions to the Portfolio’s investment strategies and benchmarks, all to take effect approximately sixty (60) days after the date of this Supplement.

The investment strategy changes may result in higher portfolio turnover in the near term, as the new portfolio management team purchases and sells securities to accommodate the investment strategy changes. A higher portfolio turnover is likely to cause the Portfolio to realize capital gains and incur transaction costs. You should consult your financial advisor about the changes that will result from the investment strategy changes.

Upon the Effective Date, the investment strategies for the Portfolio will change (Repositioning). The following is a summary of certain changes that will be made on the Effective Date as a result of the Repositioning:

Change
Current
Effective Date
Type of Fund
Multi asset fund
Multi asset fund
Benchmark
S&P 500® Index
S&P 500 Index and Bloomberg US Aggregate Index
Investment management
Investment manager:
Delaware Management Company
 
Portfolio managers:
Mark G. Beischel
Matthew A. Hekman
Susan K. Regan
 
 
Sub-advisors:
Macquarie Investment Management Austria Kapitalanlage (MIMAK)
Macquarie Investment Management Europe Limited (MIMEL)
Macquarie Investment Management Global Limited (MIMGL)
Macquarie Funds Management Hong Kong Limited (MFMHKL)
Investment manager:
Delaware Management Company
 
Portfolio managers:
Aaron D. Young of Delaware Management Company
Stefan Löwenthal of MIMAK
Jürgen Wurzer of MIMAK
 
Sub-advisors:
MIMAK
MIMEL
MIMGL
MFMHKL



Because everyone’s tax situation is unique, you should consult your tax professional about federal, state, local, or foreign tax consequences before making an investment in the Portfolio.

Delaware Management Company (Manager) is an indirect wholly owned subsidiary of Macquarie Group Limited (MGL). Other than Macquarie Bank Limited (MBL), a subsidiary of MGL and an affiliate of the Manager, none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise. The Portfolio is governed by US laws and regulations.

Please keep this Supplement for future reference.

This Supplement is dated September 14, 2021.