Ivy Funds Remediation

CLOSE OF DISTRIBUTION UPDATE (January 30, 2024)

FINAL UPDATE: The distribution phase is now completed. The distribution administrator can no longer issue or make payments from the Ivy Funds Remediation distribution.

Please NOTE: The distribution call center is now closed. If you have additional questions please contact Macquarie using the phone number located on your account statement.

DISTRIBUTION UPDATE (November 27, 2023)

ATTENTION: The Ivy Funds Remediation distribution is closing soon. If you need to have your check reissued, please contact the Administrator on or before December 19, 2023 at 866-511-6017, Monday through Friday, between 9:00 AM and 6:00PM ET. Please cash your original or reissued check before January 22, 2024 otherwise you will forfeit this payment.

NOTE: Please DO NOT try to negotiate your original or reissued check(s) after January 22, 2024 as the payment will no longer be valid and your banking institution may charge you a fee for presenting a stale dated check. Neither Waddell & Reed Services Company nor the Administrator will be responsible for fees that your bank may charge for presenting a check(s) after January 22, 2024.

Remediation payments are being made to shareholders of the following Ivy Funds (the “Funds”) determined to be entitled to remediation as a result of a net asset value (“NAV”) error in the Funds during the remediation period from September 29, 2020, to May 28, 2021 (the “Remediation Period”): Delaware Ivy Strategic Income Fund; Delaware Ivy High Income Fund; and Delaware Ivy VIP High Income. Shareholders who held the Funds during the Remediation Period and were determined to be eligible for remediation payments (the “Payment(s)”) are referred to as “Eligible Shareholders.” For more information, please review the Statement to Shareholder Recipients (the “Statement”) located on the Tax Information page of this website.

On May 24, 2021, and again on June 1, 2021, the value of a private equity holding (“New Cotai”) held by certain Ivy Funds was reduced due to a change in the methodology used to value such private equity holding. The new valuation methodology was implemented to be consistent with US generally accepted accounting principles (US GAAP) and consider available observable inputs related to the fair valuation of New Cotai and certain other private equity securities. During the Remediation Period, the NAV of certain Funds that held New Cotai was overstated due to the above methodology change. As a result, management concluded that Eligible Shareholders may be entitled to remediation due to the determination that their accounts or transactions were negatively impacted by the NAV error by more than $10.00 during the Remediation Period.

Waddell & Reed Services Company (“Waddell & Reed”), working in consultation with its external consultants and advisers, developed a remediation allocation methodology. Waddell & Reed’s third-party administrator (DST Asset Manager Solutions, Inc., now SS&C GIDS, Inc.) calculated and determined remediation Payments in accordance with the approved remediation allocation methodology. Waddell & Reed and its external consultants jointly assessed and the company approved the remediation amounts prior to Payment issuance.