0001193125-12-489199.txt : 20121203 0001193125-12-489199.hdr.sgml : 20121203 20121203163009 ACCESSION NUMBER: 0001193125-12-489199 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20121203 DATE AS OF CHANGE: 20121203 EFFECTIVENESS DATE: 20121203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ivy Funds Variable Insurance Portfolios CENTRAL INDEX KEY: 0000810016 IRS NUMBER: 481146010 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-11466 FILM NUMBER: 121237817 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, Inc. DATE OF NAME CHANGE: 20080819 FORMER COMPANY: FORMER CONFORMED NAME: W&R TARGET FUNDS INC DATE OF NAME CHANGE: 20001026 FORMER COMPANY: FORMER CONFORMED NAME: TARGET UNITED FUNDS INC DATE OF NAME CHANGE: 19990506 0000810016 S000006231 Ivy Funds VIP Real Estate Securities C000017165 SAME 497 1 d445671d497.htm IVY FUNDS VIP PROSPECTUS SUPPLEMENT DATED DECEMBER 3, 2012 Ivy Funds VIP Prospectus Supplement Dated December 3, 2012

Ivy Funds Variable Insurance Portfolios

Supplement dated December 3, 2012 to the

Ivy Funds Variable Insurance Portfolios Prospectus

dated April 30, 2012

and as supplemented June 4, 2012

The Annual Portfolio Operating Expenses table in the “Fees and Expenses” section for Ivy Funds VIP Real Estate Securities is deleted and replaced with the following:

Annual Portfolio Operating Expenses

 

(expenses that you pay each year as a % of the value of your investment)          

Management Fees

        0.90%   

Distribution and Service (12b-1) Fees

        0.25%   

Other Expenses

        0.18%   

Total Annual Portfolio Operating Expenses

        1.33%   

Fee Waiver and/or Expense Reimbursement1

        0.09%   

Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement

        1.24%   

 

1 

Through April 30, 2014, Waddell & Reed Investment Management Company (WRIMCO), the Fund’s investment manager, has contractually agreed to reduce the management fee paid by the Fund by an annual rate of 0.09% of average daily net assets. Prior to that date, the reduction may not be terminated by WRIMCO or the Board of Trustees.

The “Example” section in the “Fees and Expenses” section for Ivy Funds VIP Real Estate Securities is deleted and replaced with the following:

Example

This example is intended to help you compare the cost of investing in the shares of the Portfolio with the cost of investing in other portfolios. This example does not reflect any fees and expenses imposed under the Policies.

The example assumes that you invest $10,000 in the shares of the Portfolio for the time periods indicated. The example also assumes that your investment has a 5% return each year and that the Portfolio’s operating expenses remain the same taking into account that expenses were reduced for the period indicated above. The costs are the same for each time period if you continue to hold your shares or if you redeem all your shares at the end of those periods. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

 

1 Year      3 Years      5 Years      10 Years  

$126

      $ 413       $ 720       $ 1,594   

 

Supplement   Prospectus   1