IVAEX: Profile for IVY ASSET STRATEGY FUND CLASS I

Michael L. Avery -- Avery is senior vice president of WRIMCO and IICO, vice president of the fund. He has served as CIO of Waddell & Reed Financial, Inc., WRIMCO and IICO since June 2005. He has served as portfolio manager for investment companies managed by WRIMCO since February 1994. He held the position of Director of Equity Research for WRIMCO and its predecessor from August 1987 through June 2005. He has served as a Director of the Corporation since April 2007.

INVESTMENT INFORMATION

Min Initial Investment:	$0
Min Initial Investment, IRA:	NaN
Min Initial Investment, AIP:	NaN
Min Subsequent Investment:	NaN
Min Subsequent Investment, IRA:	N/A
Min Subsequent Investment, AIP:	N/A

IVAEX can be purchased from brokerages.

FUND SUMMARY

The investment seeks to provide high total return over the long run. The fund seeks to achieve its objective by allocating its assets among primarily stocks, bonds and short-term instruments of issuers located around the world. It may invest in domestic and foreign securities; the fund may invest up to 100% of assets in foreign securities. It may buy or sell options or futures contracts on a security or an index of securities, or enter into swaps.

FUND OPERATIONS

Last Dividend (10-Dec-09):	0.13
Last Cap Gain (11-Dec-08):	2.39
Annual Holdings Turnover	279.00%
Average for Category:	100.80%

FEES & EXPENSES

Expense	IVAEX	Category Avg
Total Expense Ratio:	%	1.19%
Max 12b1 Fee:	%	N/A
Max Front End Sales Load:	%	4.93%
Max Deferred Sales Load:	%	2.22%
3 Yr Expense Projection*:	$ YFT_NOT_APPLICABLE_ABBREVIATION	$695
5 Yr Expense Projection*:	$ YFT_NOT_APPLICABLE_ABBREVIATION	$1,081
10 Yr Expense Projection*:	$ YFT_NOT_APPLICABLE_ABBREVIATION	$2,177

* Per $10,000 invested

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