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Fund Detail

Ivy International Balanced Fund
Class E Shares

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Fund Facts 
Ticker Symbol
IIBEX
CUSIP
465899771
Fund Code
449
Fund Type
Global/International
Fund Inception
09/16/1994
Class Inception
04/02/2007
Fiscal Year End
March
Dividends Paid
Quarterly
Net Assets (as of 06/30/2010)
$235.5 mil
Total Holdings (as of 06/30/2010)
85
Turnover Rate (as of 03/31/2010)
131%
Lipper Category
Mixed-Target Alloc. Growth
Morningstar Category
World Allocation
Benchmarks
MSCI AC World ex US
JP Morgan Non-US

Daily Prices6

Updated 9/8/2010
Net Asset Value (NAV) $13.66
NAV Change ($) $0.06
NAV Change (%) 0.44%
Weekly NAV Change ($) -$0.09
Weekly NAV Change (%) -0.65%
Public Offering Price (POP) $14.49

   Historical Prices & Distributions

   
   

Fund Description
Fund Objective 
To provide a high level of total return.
 
Investment Approach 
The Fund invests principally in equity and debt securities traded in largely developed European and Asian/Pacific basin markets of issuers of any size, and investment grade debt securities issued by governmental agencies and corporations. In selecting equity securities, the Fund's manager uses a top-down, macro thematic approach, along with a bottom-up stock selection process, and uses a combination of country analysis, industry dynamics and individual stock selection. Debt securities are selected, after an analysis of trends, based on the managers' judgment as to which securities are more likely to perform well under those conditions.
 
  Morningstar Style Box7

Returns and Expenses1, 2, 3, 4, 5
Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

  Monthly Rates of Return

  Average Annual Total Returns
  as of 8/31/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 4.82% -3.91% N/A N/A -2.82%
Fund with maximum 5.75% sales charge -1.21% -5.78% N/A N/A -4.50%

  Quarterly Rates of Return

  Average Annual Total Returns
  as of 6/30/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 9.50% -6.61% N/A N/A -4.84%
Fund with maximum 5.75% sales charge 3.20% -8.44% N/A N/A -6.56%
JP Morgan Non-US N/A N/A N/A N/A 7.12%
MSCI AC World ex US 10.43% -10.70% 3.38% 1.86% -7.72%
Lipper Mixed-Target Alloc. Growth 12.80% -5.74% 0.95% 1.30% -4.08%

Expense Ratios 
as of 07/31/2010
Net  1.33%
Gross  2.35%

Growth of a $10,000 Investment
through 06/30/2010

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

1. Class E shares are subject to an initial sales charge of 5.75 percent when purchased for your InvestEd Plan account; it also features a step down structure of lowering the initial sales charge based on the amount of your investment.

2. The Advantus International Balanced Fund merged into the Ivy International Balanced Fund on Dec. 8, 2003. The performance shown for periods prior to this date is that of the Advantus International Balanced Fund Class A shares, restated to reflect current sales charges applicable to Ivy International Balanced Fund Class A shares. Performance has not been restated to reflect the fees and expenses applicable to the Ivy International Balanced Fund. If these expenses were reflected, performance shown would differ.

3. MSCI AC World Ex USA is an unmanaged index comprised of securities that represent the securities markets around the world excluding the USA. It is not possible to invest directly in an index.

4. JP Morgan Non-US is an unmanaged index comprised of securities that represent the global market. It is not possible to invest directly in an index.

5. Consider All Factors. International investing involves additional risks including currency fluctuations, political or economic conditions affecting the foreign country, and differences in accounting standards and foreign regulations. These and other risks are more fully described in the fund's prospectus.

Ratings & Rankings
Lipper Rankings
as of 06/30/2010
Category: Mixed-Target Alloc. Growth
  Rank Percentile
1 Year 507/577 88
3 Year 338/512 66

Rankings are based on average annual total returns, but do not consider sales charges.
Morningstar Ratings
as of 06/30/2010
Category: World Allocation
Overall   (out of 157 World Allocation)
3 Year   (out of 157 World Allocation)

Rankings are based on risk-adjusted returns.

Holdings
Portfolio Composition8
(as a % of net assets as of 06/30/2010)
Foreign Stock 62.0%
Corporate Bonds 33.0%
Cash 4.0%
Common Stock 2.0%
Sector Allocation8
(as a % of equity holdings as of 06/30/2010)
Financials 18.1%
Consumer Discretionary 16.5%
Telecommunication Services 13.2%
Energy 10.6%
Information Technology 9.0%
Materials 8.8%
Consumer Staples 8.7%
Healthcare 7.3%
Industrials 5.5%
Utilities 2.2%
Country Allocation8
(as a % of equity holdings as of 06/30/2010)
U.K. 18.4%
Australia 17.6%
France 13.5%
Japan 8.5%
Hong Kong 6.4%
Spain 5.2%
Maturity
(as of 06/30/2010)
<1 Year 22.4%
1-5 Years 49.9%
6-10 Years 27.7%
11-20 Years 0.0%
>20 Years 0.0%
Average Maturity 3.52 years
Top 10 Equity Holdings8
(as a % of net assets as of 06/30/2010)
TOTAL S.A. 2.5%
Telstra Corporation Limited 1.9%
Unilever plc 1.8%
Foster's Group Limited 1.8%
High Tech Computer Corp. 1.7%
AstraZeneca plc 1.7%
Vodafone Group plc 1.6%
Sanofi-Aventis 1.5%
Roche Holdings AG, Genusscheine 1.5%
Companhia Energetica de Minas Gerais - CEMIG, ADR 1.4%
Total Portfolio Holdings
(updated quarterly, upon availability)
 
View | Download (as of 06/30/2010)
Quality Breakdown
(as of 06/30/2010)
Gov't 0.0%
AAA 32.7%
AA 0.0%
A 24.6%
BBB 28.1%
BB 5.6%
B 1.0%
Below B 0.0%
Non-Rated 7.9%
Effective Duration 3.02 years

Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
 John C. Maxwell, CFA  Ivy Investment Management Company  17  1

6. Per share values based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time. Ivy Funds Class A and Class Y shares are subject to distribution and service fees of up to 0.25% of the average daily net assets, annually, pursuant to SEC Rule 12b-1, while Class B and Class C shares are subject to distribution and service fees of up to 1.00% of the average daily net assets, annually, pursuant to SEC Rule 12b-1. Class Y shares may be purchased only by certain institutional investors set forth in each fund's prospectus.

7. The style boxes reveal a fund's investment strategy by displaying, for equity, the fund's investment style and the market capitalization of the stocks owned and for fixed income, the average credit quality of the bonds owned and the interest rate sensitivity, as measured by a bond's maturity.

8. Information is subject to change and is not intended to represent any past or future investment recommendations. Quality ratings obtained from Standard & Poor's. For securities not rated by Standard & Poor's, ratings obtained from Moody's.