2018 Global Economic and Market Outlook
The Ivy investment team’s views on the global economic landscape and investment themes for 2018.
The opinions expressed are those of the Fund’s managers and are not meant as investment advice or to predict or project the future performance of any investment product. The opinions are current through September 30, 2017, are subject to change at any time based on market and other current conditions, and no forecasts can be guaranteed. This commentary is being provided as a general source of information and is not intended as a recommendation to purchase, sell, or hold any specific security or to engage in any investment strategy. Investment decisions should always be made based on an investor’s specific objectives, financial needs, risk tolerance and time horizon. Past performance is not a guarantee of future results.
Effective January 2017, Catherine L. Murray was named a portfolio manager to the Ivy International Core Equity Fund.
Top 10 Equity Holdings as a percent of net assets as of 09/30/2017: Westpac Banking Corp. 2.64%, Total S.A. 2.33%, Bayer AG 2.28%, Koninklijke Ahold Delhaize N.V. 2.06%, Isuzu Motors Ltd. 2.05%, Alibaba Group Holding Ltd. ADR 1.89%, Danone S.A. 1.86%, Orange S.A. 1.82%, Nestle S.A., Registered Shares 1.76% and Ferguson plc 1.68%.
Risk factors: The value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 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. Not all funds or fund classes may be offered at all broker/dealers.