Waddell & Reed Financial has finished melding the Ivy Funds and W&R Funds under the Ivy Funds and Waddell & Reed Advisor Funds brands. The reorganization was precipitated by Waddell & Reed's acquisition of the Ivy Funds from Canada's MacKenzie Financial Corporation in December 2002.

The Ivy Funds now all carry A, B and C share classes and the same sales load structure as the previous W&R Funds.

"This merger activity has been a critical step in our efforts to invigorate and strengthen the Ivy Funds," said Thomas W. Butch, executive vice president and chief marketing officer of Waddell & Reed and president and chief executive officer of Ivy Funds Distributor in a statement. "The Ivy Funds now offer a wider range of choices than before. And by adding Waddell & Reed's strong investment management capabilities to the Ivy brand, we believe we have significantly enhanced the attractiveness of the Ivy Funds for financial advisors and fund shareholders."

The following Ivy Funds were involved in mergers:

Domestic equity funds

Merged Ivy US Blue Chip into W&R Core Equity, managed by Jim Wineland, of Waddell & Reed

Merged Ivy US Emerging Growth into W&R Mid Cap Growth, managed by Kimberly Scott, of Waddell & Reed

Merged Ivy Growth into Waddell & Reed Advisors Accumulative, managed by Tony Intagliata, of Waddell & Reed

International/Global equity funds

Merged Ivy International Small Companies into W&R International Growth, managed by Thomas Mengel, of Waddell & Reed

Merged Ivy Global into W&R International Growth, managed by Thomas Mengel, of Waddell & Reed

Merged Ivy Developing Markets into Ivy Pacific Opportunities, managed by Thomas Mengel, of Waddell & Reed

Specialty funds

Merged Ivy Global Science & Technology into W&R Science and Technology, managed by Zachary Shafran, of Waddell & Reed

Fixed income funds

Merged Ivy Bond into Waddell & Reed Advisors Bond, managed by Jim Cusser, of Waddell & Reed

The following Ivy Funds remain as they were:

Ivy Cundill Global Value Fund, subadvised by Peter Cundill, of Cundill & Associates

Ivy Global Natural Resources Fund, subadvised by Fred Sturm, of Mackenzie Financial Corp.

Ivy European Opportunities Fund, subadvised by Stephen Peak, of Henderson Global Investors

Ivy International Fund, managed by Thomas Mengel, of Waddell & Reed

Ivy International Value Fund, managed by Thomas Mengel, of Waddell & Reed

Ivy Pacific Opportunities Fund (after absorbing Ivy Developing Markets Fund), managed by Thomas Mengel, of Waddell & Reed

Ivy Money Market Fund, managed by Mira Stevovich, of Waddell & Reed

The following W&R Funds have become Ivy Funds (all managed by Waddell & Reed):

W&R Large Cap Growth Fund, managed by Dan Becker

W&R Small Cap Growth Fund, managed by Grant Sarris

W&R Asset Strategy Fund, managed by Mike Avery and Dan Vrabac

W&R Tax-Managed Equity Fund, managed by Barry Ogden

W&R High Income Fund, managed by Louise Rieke

W&R Limited-Term Bond Fund, managed by Pat Sterner

W&R Municipal Bond Fund, managed by Bryan Bailey

The new Ivy Funds family comprises the following:

Domestic equity funds:

Ivy Core Equity Fund, managed by Jim Wineland, with $271.6 million in assets as of June 30

Ivy Dividend Income Fund, managed by David Ginther, a new fund launched 6/30/03

Ivy Large Cap Growth Fund, managed by Dan Becker, with $33.5 million in assets

Ivy Mid Cap Growth Fund, managed by Kim Scott, with $53.1 million in assets

Ivy Small Cap Growth Fund, managed by Grant Sarris, with $411.2 million in assets

Ivy Tax-Managed Equity Fund, managed by Barry Ogden, with $5.3 million in assets

International equity funds:

Ivy Cundill Global Value Fund, managed by Peter Cundill, with $10.1 million in assets

Ivy European Opportunities Fund, managed by Stephen Peak, with $65.4 million in assets

Ivy International Value Fund, managed by Thomas Mengel, with $41.4 million in assets

Ivy Pacific Opportunities Fund, managed by Thomas Mengel, with $12.3 million in assets

Ivy International Growth Fund, managed by Thomas Mengel, with $76.3 million in assets

Ivy International Fund, managed by Thomas Mengel, with $190.4 million in assets

Flexible Portfolio/Specialty:

Ivy Global Natural Resources Fund, managed by Fred Sturm, with $39.3 million in assets

Ivy Science and Technology Fund, managed by Zachary Shafran, with $110.5 million in assets

Ivy Asset Strategy Fund, managed by Mike Avery and Dan Vrabac, with $66.6 million in assets

Fixed income funds:

Ivy High Income Fund, managed by Louise Rieke, with $40.3 million in assets

Ivy Limited-Term Bond Fund, managed by Pat Sterner, with $80.4 million in assets

Ivy Municipal Bond Fund, managed by Bryan Bailey, with $28.6 million in assets

Ivy Money Market Fund, managed by Mira Stevovich, with $15.3 million in assets 

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