Waddell & Reed Financial will combine the Ivy Funds and the W&R Funds into one fund family with a combined $1.5 billion under management, operating under the Ivy Funds name. The mergers are pending shareholder approval at a June meeting and would occur later that month. Six Ivy funds will not change; all W&R funds will assume the Ivy name.
Seven Ivy funds will merge into existing W&R or other Ivy funds and will carry the W&R funds track records, where applicable. Ivy U.S. Blue Chip will merge into the W&R Core Equity Fund; Ivy U.S. Emerging Growth into W&R Mid-Cap Growth; Ivy International Small Companies into W&R International Growth; Ivy Global into W&R International Growth; Ivy Developing Markets into Ivy Pacific Opportunities; Ivy Money Market into W&R Money Market; and Ivy Global Science and Technology into W&R Science and Technology.
Also, Ivy Growth will merge into Waddell & Reed Advisors Accumulative, and Ivy Bond will merge into Waddell & Reed Advisors Bond.