Oil industry faces short-term hurricane impact
While it’s too early to know the full economic and human toll of Hurricane Harvey, we expect a relatively short-term impact on the U.S. energy industry.
Ivy Funds on Tuesday, Feb. 11, 2014, introduced the Ivy Emerging Markets Equity Fund (IPOAX) , formerly the Ivy Pacific Opportunities Fund. The new name reflects a broader investment mandate for the Fund, as shown below. It is managed by Frederick Jiang, CFA, CPA, who has 10 years with the Fund and 20 years in the industry. The ticker symbols and CUSIP numbers for the Fund’s various share classes did not change.
Quarterly commentary reflecting the performance of the new Fund will be available in April.
New Investment Policy
Previous Investment Policy
The Fund typically invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities, primarily common stock, of companies from countries considered to be emerging markets or that are economically linked to emerging-market countries.
The Fund typically invests at least 80% of its net assets in equity securities, primarily common stock, of large to mid cap companies whose securities are traded mainly on markets located within the Pacific region, organized under the laws of a Pacific region country or issued by any company with more than half of its business in the Pacific region.
Risk factors: As with any mutual fund, the value of the Fund’s shares will change, and you could lose money on your investment. 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 risks are magnified in emerging markets. These and other risks are more fully described in the Fund’s prospectus.