Ivy Global Investors launches three funds in Europe
US-based Ivy Global Investors has launched three new funds, broadening the products available to non-US investors.
Ivy Global Investors Science and Technology Fund, Ivy Global Investors US Large Cap Growth Fund and Ivy Global Investors US Mid Cap Growth Fund join two existing funds in the Ivy Global Investors family, bringing the total number of Ivy Global Investors investment options to five.
All are sub-funds of Selector Management Fund Sicav, an umbrella Ucits fund range domiciled in Luxembourg.
The Ucits funds are distributed globally by Ivy Funds Distributor, DBA Ivy Global Investors, and managed by Ivy Investment Management Company.
• Ivy Global Investors Science and Technology Fund: A multi-cap strategy that seeks out structural growth potential with a broad purview across securities from three market segments: science, technology and applied science and technology.
• Ivy Global Investors US Large Cap Growth Fund: Invests in large-capitalization US companies (those with above $10 billion in market capitalization) that management believes exhibit sustainable growth and a distinct competitive advantage.
• Ivy Global Investors US Mid Cap Growth Fund: Invests in mid-capitalization US companies (market capitalization in the range of companies in the Russell Midcap Growth Index) that management believes exhibit profitable business models, sound capital structures and a history of rising cash flows.
The two existing sub-funds of the Sicav, Ivy Global Investors Asset Strategy Fund and Ivy Global Investors High Income Fund, had combined assets under management of approximately $247m at June 30, 2014.
All of the Ivy Global Investors funds mirror investment strategies that have been marketed successfully in the United States by Ivy Funds Distributor, Inc.
“As we broaden our distribution network internationally, we will continue to pursue opportunities to effectively meet the needs of global investors through a variety of product offerings,” said Thomas W. Butch, president and CEO of Ivy Funds Distributor, Inc.
Ivy Funds Distributor, Inc. and Ivy Investment Management Company are subsidiaries of Waddell & Reed Financial. Through its subsidiaries, Waddell & Reed Financial provides investment management and financial planning services to clients throughout the US.
The firm had approximately $136bn in total assets under management at June 30, 2014. Ivy Investment Management Company serves as investment adviser to the Ivy Funds, while Ivy Funds Distributor serves as principal underwriter and distributor to the Ivy Funds.