OVERLAND PARK, KS, April 7, 2008 – Ivy Funds has launched a new global fixed-income mutual fund designed to expand bond investors’ horizons beyond the United States. The Ivy Global Strategic Income Fund has the flexibility to invest in any bond sector, country, rating category, maturity, or currency, as well as potentially invest up to 20 percent of its assets in equities globally.

“The U.S. represents less than half of the global bond market today, and its share is declining,” said Dan Vrabac, senior vice president of Ivy Investment Management Company and co-portfolio manager of the new fund. “The Ivy Global Strategic Income Fund has a broad mandate that allows the managers to attempt to improve returns through a globally diversified fixed income portfolio, with the added ability to enhance income and return through the use of currencies and equities. Additionally, the greater diversification and derivative capabilities of the fund provide better tools for risk management.”

Vrabac will partner in management of the new fund with Mark Beischel, CFA, also a senior vice president, who has 15 years of experience and who manages a similar fund, the Waddell & Reed Advisors Global Bond Fund. The Advisors Global Bond Fund, which has a mandate that mirrors the new fund, has a history of competitive performance and is in the top decile of its peer group over the latest 3-year period and in the top 12 percent of its peer group over the last year, according to Lipper.

Vrabac, with 29 years of industry experience, also is a co-manager of the Ivy Asset Strategy Fund, which experienced some of the highest asset flows in the industry during 2007, according to Financial Research Corp. (FRC), and is in the top decile of its peer group over the 1-, 3-, 5- and 10-year periods ended 12/31/07, according to Lipper. Ivy Asset Strategy Fund exercises a flexible strategy in the selection of securities, and is not required to allocate its investments in any fixed proportions. “The Ivy Global Strategic Income Fund approaches the global fixed income market in a manner similar to that with which the Asset Strategy Fund approaches the total global market. Improving bond investors’ return while controlling risk will be our key areas of focus,” said Vrabac.

“There currently are four key themes around the world that may provide opportunities for the Global Strategic Income Fund,” said Beischel. “The U.S. dollar is fundamentally weak; inflation, in the U.S. and globally, likely will continue to creep higher for the foreseeable future; global infrastructure build-out bodes well for the debt market; and the value of some foreign currencies is on the rise, providing more potential for income-oriented investors.”

Minimum initial investment in the Ivy Global Strategic Income Fund is $500. Investing through an automatic investment service or payroll deduction allows smaller initial investments. 

For a prospectus containing this and other information for any of the Ivy Funds, call your financial advisor or visit www.ivyfunds.com. Please read the prospectus carefully before investing.

The Ivy Funds were among the top 10 “Best Mutual Fund Families of 2007,” as ranked and published by Barron’s, out of 67 fund families ranked according to asset-weighted returns in five categories.

The Ivy Funds also ranked among the fastest growing mutual fund families in 2007, according to a recent study released by Financial Research Corporation (FRC). The Ivy Funds ranked second in terms of asset growth over the year among all firms with assets of $5 billion or greater. Asset growth has been strong since the Ivy Funds were relaunched in 2003, with total assets reaching $24 billion at year-end 2007.

To learn more about Ivy Funds or other mutual fund companies, visit Fund Companies. For particular fund information, visit Fund Selector.