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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170518005125/en/
Ivy InvestmentsRoger Hoadley, 913-236-1993VP, Director of
Communicationsrhoadley@ivyinvestments.com
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