UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a)

of the Securities Exchange Act of 1934

(Amendment No.     )

Filed by the Registrant  ☑                              Filed by a Party other than the Registrant  ☐

Check the appropriate box:

☐	Preliminary Proxy Statement
☐	Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☐	Definitive Proxy Statement
☑	Definitive Additional Materials
☐	Soliciting Material Pursuant to §240.14a-12

Ivy Funds

(Names of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☑	No fee required.
☐	Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
	(1)	Title of each class of securities to which transaction applies:
	(2)	Aggregate number of securities to which transaction applies:
	(3)	Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
	(4)	Proposed maximum aggregate value of transaction:
	(5)	Total fee paid:
☐	Fee paid previously with preliminary materials.
☐	Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
	(1)	Amount Previously Paid:
	(2)	Form, Schedule or Registration Statement No.:
	(3)	Filing Party:
	(4)	Date Filed:

May 5, 2021

Dear Fellow Shareholder:

The Waddell & Reed ("Ivy”) Special Joint Meeting of Shareholders has been successful in connection with 82 out of 83 Ivy Funds. Almost two million shareholders have shown overwhelming support by voting for the meeting agenda proposals. The only Fund that has not passed the vote threshold necessary for the proposals, proposal 1 – to approve a new investment advisory agreement and proposal 2 – to permit your Fund’s investment advisor to recommend and hire sub advisors, is Ivy Asset Strategy Fund.

Your Vote is Essential to Passing the Proposals by the Adjourned Meeting Date of May 28, 2021.

The Ivy Asset Strategy Fund needs less than 4% of the shares outstanding to pass the proposals. Please take a few minutes to vote your shares and join your fellow shareholders who have voted by signing, dating and mailing your proxy card in the enclosed postage-paid envelope, or follow the instructions below to vote by telephone or internet.

If you receive a phone call from our proxy solicitor, Di Costa Partners (“DCP”), you can vote your shares over the phone with a DCP representative. Or you may call DCP toll free at 1-833-290-2605 to ask any questions related to the meeting agenda and/or vote your shares.

I thank you in advance for your participation.

Philip J. Sanders

President

WDRIF-A5_052821