Waddell & Reed replaced four portfolio managers for 11 of the Ivy Funds with its own investment managers. Thomas Mengel will manage the Ivy International, International Value, Pacific Opportunities, Global, Developing Markets and International Growth Funds. He will continue to manage two Waddell & Reed international growth funds. Antonio Intagliata now manages the Ivy Growth Fund, as well as the Waddell & Reed Advisors Accumulative Fund. Kimberly Scott now is the manager of the Ivy U.S. Emerging Growth Fund and remains manager of two Waddell & Reed midcap growth funds. Zachary Shafran now manages the Ivy Global Science and Technology Fund and remains manager of two Waddell & Reed science and technology funds. James C. Cusser now manages the Ivy Bond Fund, in additional to two Waddell & Reed U.S. bond funds. Mira Stevovich now manages the Ivy Money Market Fund, in addition to two Waddell & Reed money market funds.
Waddell & Reed acquired the Ivy fund family as part of its acquisition of Mackenzie Investment Management.
The four Mackenzie portfolio managers Moira McLachlan, James W. Broadfoot, Keith J. Maher and Richard Gluck and an unspecified number of analysts either left the firm or are in the process of leaving, said Thomas W. Butch, chief marketing officer. Mr. Butch would not give a reason for the personnel departures or say if they were laid off.