Emerging markets still deserve attention
We believe corporate revenue and earnings growth is likely to continue in most key emerging market sectors in 2018 and provide ongoing investment potential.
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 December 31, 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.
Top 10 holdings (%) as of 12/31/2017: JPMorgan Chase & Co. 5.0, Wal-Mart Stores Inc. 4.2, Capital One Financial Corp. 3.8, Synchrony Financial 3.8, Marathon Petroleum Corp. 2.8, HCA Healthcare, Inc. 2.7, Target Corp. 2.7, Broadcom Ltd. 2.7, Microsoft Corp. 2.6, Lowe's Companies, Inc. 2.6.
The Russell 1000 Value Index is an unmanaged index comprised of securities that represent the large cap sector of the stock market. It is not possible to invest directly in an index.
The Waddell & Reed Advisors Value Fund merged into the Ivy Value Fund on Oct. 16, 2017.
Risk factors: The value of the Fund’s shares will change, and you could lose money on your investment. The value of a security believed by the Fund’s manager to be undervalued may never reach what the manager believes to be its full value, or such security’s value may decrease. 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. 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.