Ivy Partners with PineBridge to Offer New High Yield Fund

OVERLAND PARK, Kan.--()--In its latest example of creating a partnership with a sub-adviser firm to develop a distinct product, Ivy Investment Management Company (IICO) today introduced the Ivy PineBridge High Yield Fund.

The Fund is managed by IICO and sub-advised by PineBridge Investments, a global firm with more than $80 billion in assets under management. The new fund, effective today, seeks to provide total return through a combination of high current income and capital appreciation, primarily by investing in a diversified portfolio of high-yield, high-risk fixed income securities from both U.S. and foreign issuers.

This Fund joins the Ivy High Income Fund as an investment option offered by the firm in the high-yield bond space. The Funds differ within their investment strategies, as the exposure to bonds rated CCC or lower in Ivy PineBridge High Yield is limited to a maximum of 1.2 times the amount of CCC or lower exposure in its benchmark, the Bloomberg Barclays U.S. Corporate High-Yield Bond Index, and the Fund will have no bank loan exposure.

“We’re always looking to offer products that appeal to a range of advisors and investors, and this fund fills another niche in the high yield space,” said Thomas W. Butch, CEO of Ivy Distributors, Inc. “Ivy PineBridge High Yield Fund’s objective and strategy are complementary to the existing high income fund’s strategy.”

Portfolio managers of Ivy PineBridge High Yield Fund are John Yovanovic, CFA, Managing Director and Head of High Yield Portfolio Management for PineBridge; Jeremy H. Burton, CFA, Senior Vice-President; and Dan Purser, CFA, Managing Director. Collectively, they have over 42 years with PineBridge. They are based in Houston, TX.

Since 2015, Ivy has steadily broadened its lineup, including adding several funds created in partnership with sub-advisers on strategies not widely available elsewhere:

October 2015:         Ivy Apollo Strategic Income Fund, Ivy Apollo Multi-Asset Income Fund
January 2016: Ivy Pictet Targeted Return Bond Fund
October 2016: Three individual Ivy NextShares™ exchange-traded managed funds
January 2017: Ivy IG International Small Cap Fund
April 2017: Five distinct Ivy ProShares® index funds

The Ivy Funds lineup today features 46 funds across a range of strategies. For details, visit www.ivyinvestments.com.

About PineBridge

PineBridge Investments is a global asset manager with experience in emerging and developed markets and investment capabilities in multi-asset, fixed income, equities and alternatives. The firm is differentiated by the integration of on-the-ground investment teams of approximately 200 professionals, providing investors with the combined benefits of global fundamental perspectives and analytical insights. PineBridge manages over $80 billion, as of March 31, 2017, for a global client base that includes institutions, insurance companies and intermediaries.

About Ivy Investments

Ivy Investments® is a global organization recognized for inventive, actively-managed investing strategies that help investors best meet their long-term goals. It is part of an organization dating to 1937, with a time-tested investment process and an authentic and demanding culture – one that values preparedness, collaboration and accountability. These values extend from a broad internal investing capability, which reaches all major asset classes, to subadvisor partners, to the distribution team that supports advisors and clients.

Ivy Investment Management Company and Ivy Distributors, Inc. are affiliates of Waddell & Reed Financial, Inc. (NYSE: WDR). Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the U.S. The firm had approximately $81 billion in total assets under management at March 31, 2017.

IVY INVESTMENTS® refers to the investment management and investment advisory services offered by Ivy Investment Management Company, the financial services offered by Ivy Distributors, Inc., a FINRA member broker dealer and the distributor of IVY FUNDS® mutual funds and IVY VARIABLE INSURANCE PORTFOLIOS℠, and the financial services offered by their affiliates.

Risk Factors: The value of the Ivy PineBridge High Yield Fund and Ivy High Income Fund shares will change, and you could lose money on your investment. An investment in either Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fixed income securities are subject to interest rate risk and, as such, the net asset value may fall as interest rates rise. Investing in below investment grade securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. 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 Funds’ prospectus.

Ivy NextShares funds are managed by Ivy Investment Management Company and are distributed by ALPS Distributors, Inc. ALPS Distributors, Inc., NextShares Solutions LLC, and Ivy Investment Management Company or Ivy Distributors, Inc. (or their affiliates), are all unaffiliated companies.

NextShares™ is a trademark of NextShares Solutions LLC. All rights reserved. Used with permission.

ProShares® is a registered mark of ProShare Advisors LLC and has been licensed by Ivy Investment Management Company and Ivy Distributors, Inc. solely for use in connection with the Ivy ProShares funds.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of a mutual fund. This and other important information is contained in the prospectus and summary prospectus, which may be obtained at www.ivyinvestments.com or from a financial advisor. Read it carefully before investing.


Ivy Investments
Roger Hoadley, 913-236-1993
VP, Director of Communications

Release Summary

Ivy partners with PineBridge to offer new high yield fund


Ivy Investments
Roger Hoadley, 913-236-1993
VP, Director of Communications