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IMAAX Ivy Apollo Multi-Asset Income A

  • Fund
  • IMAAX
  • Price as of: Aug 16, 2019
  • $10.41 + $0.07 + 0.68%
  • Category
  • Uncategorized

IMAAX - Profile

Vitals

  • YTD Return 6.8%
  • 3 Yr Annualized Return -0.3%
  • 5 Yr Annualized Return N/A
  • Net Assets $469 M
  • Holdings in Top 10 11.6%

52 WEEK LOW AND HIGH

$10.41
$9.58
$11.16

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.24%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 59.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$750

IRA

$750

Investment Themes

CATEGORY

Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style World Allocation

Distributions

  • YTD Total Return 6.8%
  • 3 Yr Annualized Total Return 4.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.77%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Ivy Apollo Multi-Asset Income Fund
  • Fund Family Name Ivy Funds
  • Inception Date Oct 01, 2015
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Robert E. Nightingale

Fund Description

The fund seeks to achieve its objectives by allocating its assets among four different investment strategies: total return strategy; high income strategy; global equity income strategy; and global real estate strategy. The target allocation of the total return strategy is 20%; the target allocation of the high income strategy is 30%; the target allocation of the global equity income strategy is 40%; the target allocation of the global real estate strategy is 10%.

IMAAX - Performance

Return Ranking - Trailing

Period IMAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -50.0% 269.8% 63.29%
1 Yr -5.8% -64.4% 269.8% 66.27%
3 Yr -0.3%* -41.6% 115.6% 72.82%
5 Yr N/A* -30.7% 58.6% N/A
10 Yr N/A* -8.4% 26.2% N/A

* Annualized


Return Ranking - Calendar

Period IMAAX Return Category Return Low Category Return High Rank in Category (%)
2018 -11.7% -67.1% 73.0% 55.32%
2017 6.5% -76.0% 74.8% 57.21%
2016 3.8% -58.1% 900.0% 49.75%
2015 N/A -51.1% 336.8% N/A
2014 N/A -60.1% 304.1% N/A

Total Return Ranking - Trailing

Period IMAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -50.0% 269.8% 63.71%
1 Yr 0.4% -64.4% 269.8% 41.22%
3 Yr 4.3%* -30.7% 115.6% 34.40%
5 Yr N/A* -30.7% 58.6% N/A
10 Yr N/A* -8.4% 26.3% N/A

* Annualized


Total Return Ranking - Calendar

Period IMAAX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.7% -67.1% 76.6% 31.09%
2017 10.5% -30.7% 76.8% 54.95%
2016 7.1% -58.1% 900.0% 33.80%
2015 N/A -51.1% 341.1% N/A
2014 N/A -60.1% 304.1% N/A

NAV & Total Return History

IMAAX - Holdings

Concentration Analysis

IMAAX Category Low Category High IMAAX % Rank
Net Assets 469 M 0 814 B 38.53%
Number of Holdings 598 1 17343 9.13%
Net Assets in Top 10 56.3 M -28.8 B 144 B 51.90%
Weighting of Top 10 11.63% 0.0% 20474.3% 91.93%

Top 10 Holdings

  1. Royal Dutch Shell PLC Class A 1.49%

  2. Lockheed Martin Corp 1.28%

  3. Nestle SA 1.24%

  4. Pfizer Inc 1.20%

  5. Taiwan Semiconductor Manufacturing Co Ltd 1.19%

  6. Total SA 1.18%

  7. AstraZeneca PLC 1.03%

  8. Citigroup Inc 1.02%

  9. Samsung Electronics Co Ltd 1.01%

  10. Tokio Marine Holdings Inc 1.00%


Asset Allocation

Weighting Return Low Return High IMAAX % Rank
Stocks
44.06% -142.98% 259.25% 62.01%
Bonds
41.61% -955.59% 2526.95% 32.86%
Cash
13.39% -2543.91% 7388.76% 14.58%
Other
0.53% -7288.76% 502.86% 15.88%
Preferred Stocks
0.28% -0.12% 80.89% 11.56%
Convertible Bonds
0.13% -0.37% 166.23% 24.31%

Stock Sector Breakdown

Weighting Return Low Return High IMAAX % Rank
Real Estate
8.85% -11.04% 100.00% 8.57%
Financial Services
6.65% -7.59% 99.28% 67.59%
Consumer Defense
5.90% -7.54% 98.24% 40.69%
Energy
5.40% -7.00% 121.80% 21.17%
Healthcare
3.74% -15.38% 100.00% 69.04%
Industrials
3.65% -21.11% 93.31% 72.84%
Technology
2.76% -19.01% 99.57% 79.15%
Utilities
2.74% -3.80% 94.95% 29.51%
Communication Services
1.55% -4.54% 90.02% 49.22%
Basic Materials
1.50% -5.18% 96.19% 67.39%
Consumer Cyclical
1.33% -18.86% 87.44% 81.80%

Stock Geographic Breakdown

Weighting Return Low Return High IMAAX % Rank
Non US
27.19% -24.89% 159.65% 27.76%
US
16.87% -142.98% 128.63% 54.76%

Bond Sector Breakdown

Weighting Return Low Return High IMAAX % Rank
Corporate
39.30% -15.73% 3345.86% 10.67%
Cash & Equivalents
6.01% -2543.91% 7388.76% 28.97%
Securitized
2.48% -35.05% 159.61% 26.73%
Government
0.18% -3298.93% 457.08% 42.38%
Derivative
0.11% -511.61% 2524.39% 6.69%
Municipal
0.00% 0.00% 110.18% 70.73%

Bond Geographic Breakdown

Weighting Return Low Return High IMAAX % Rank
US
31.99% -955.59% 2526.95% 31.44%
Non US
9.62% -150.85% 464.75% 18.46%

IMAAX - Expenses

Operational Fees

IMAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.24% 0.00% 928.63% 42.94%
Management Fee 0.70% 0.00% 2.87% 62.95%
12b-1 Fee 0.25% 0.00% 1.00% 55.90%
Administrative Fee N/A 0.00% 52000.00% N/A

Sales Fees

IMAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 0.00% 25.00% 20.47%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

IMAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IMAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 59.00% 0.00% 5067.00% 59.72%

IMAAX - Distributions

Dividend Yield Analysis

IMAAX Category Low Category High IMAAX % Rank
Dividend Yield 1.34% 0.00% 87.68% 39.05%

Dividend Distribution Analysis

IMAAX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

IMAAX Category Low Category High IMAAX % Rank
Net Income Ratio 3.77% -46.00% 10.10% 8.58%

Capital Gain Distribution Analysis

IMAAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

IMAAX - Managers

Robert E. Nightingale

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

Robert E. Nightingale is Vice President of Ivy Investment Management Company (IICO). He joined WRIMCO in 1996 initially serving as an investment analyst and has served as assistant portfolio manager for funds managed by IICO since February 2006. r. Nightingale joined Waddell & Reed in Mr. Nightingale earned a BS degree in Economics from the University of Wisconsin, an MS in Urban and Regional Planning and an MS in Finance from the University of Wisconsin. He is a member of the CFA Institute.


George J. Noon

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

George J. Noon, CFA, is a Managing Director of LaSalle and the portfolio manager of LaSalle’s global real estate securities program. Mr. Noon is a graduate of the Wharton School of the University of Pennsylvania with a BS degree in Economics and a major in Finance. Mr. Noon is an associate member of the National Association of Real Estate Investment Trusts (NAREIT) and a member of the Baltimore Security Analysts Society. He joined LaSalle in 1990.


Chad A. Gunther

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

Mr. Gunther is Senior Vice President of IICO and WRIMCO, Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which IICO or WRIMCO serve as investment manager. He has been an employee of WRIMCO since January 2003, initially serving as an investment analyst. He has served as assistant portfolio manager for funds managed by IICO and WRIMCO since 2008. Mr. Gunther earned a BS in Business Administration from the University of Kansas, and an MBA with an emphasis in Finance from the Washington University/St. Louis Olin Graduate School of Business.


Matthew Sgrizzi

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

Matthew Sgrizzi, CFA, is a Managing Director of LaSalle. He is responsible for managing separate account portfolios of public European property companies and the European portion of LaSalle’s global securities portfolio accounts. He also is a deputy global portfolio manager with support responsibility for regional allocation of global client portfolios. Mr. Sgrizzi’s previous responsibilities included serving as the senior European analyst and acting as a deputy European portfolio manager based in LaSalle’s Amsterdam office. Prior to his time in Amsterdam, he held responsibilities as an analyst in Baltimore covering US lodging companies, Asia Pacific listed property companies and overall global portfolio management. He graduated from Loyola University Maryland with a B.A. in Finance, and joined LaSalle in 2002. Mr. Sgrizzi is a member of the Baltimore Security Analysts Society.


James Zelter

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

Mr. Zelter joined Apollo Global in 2006 and is Managing Partner and Chief Investment Officer of Apollo Capital Management, L.P., Apollo Global’s credit asset management business. He is also the Chief Executive Officer and director of Apollo Investment Corporation. Prior to joining Apollo Global, Mr. Zelter was with Citigroup Inc. and its predecessor companies from 1994 to 2006. From 2003 to 2005, Mr. Zelter was Chief Investment Officer of Citigroup Alternative Investments, and prior to that, he was responsible for the firm’s Global High Yield franchise. Mr. Zelter is a board member of DUMAC, the investment management company that oversees the Duke Endowment and Duke Foundation, and a Director of the Dalton School. Mr. Zelter has a degree in economics from Duke University.


Mark G. Beischel

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

Mark G. Beischel is Senior Vice President of WRIMCO and IICO and Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which WRIMCO or IICO serves as investment manager. Mr. Beischel has served as Global Director of Fixed Income of WRIMCO and IICO since June 2011. Mr. Beischel has served as assistant portfolio manager for investment companies managed by WRIMCO since 2000, and has been an employee of such since 1998.


Philip J. Sanders

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2015

3.83

3.8%

Philip J. Sanders, President and Chief Investment Officer of IICO . Phillip Sanders joined Waddell & Reed Investment Management Company in 1998 and is a Senior Vice President and Co-Manager of Waddell & Reed's large-cap growth team. His investment experience dates back to 1988, where he spent 10 years with Bank of America Capital Management, the investment management division of Bank of America. Phillip earned a BA, Economics from the University of Michigan and an MBA from the University of North Carolina at Charlotte. He holds the CFA designation.


Lisa L. Kaufman

Manager

Start Date

Tenure

Tenure Rank

Sep 01, 2016

2.91

2.9%

Ms. Kaufman has held her Fund responsibilities since September 2016. She is a Managing Director of LaSalle and a North America Portfolio Manager. As North America Portfolio Manager, she is responsible for managing separate account portfolios of public North American property companies and the North American portion of LaSalle’s global securities portfolio accounts. Ms. Kaufman’s previous responsibilities included serving as a Senior Analyst, covering U.S. retail, U.S. industrial and Canadian retail companies, as well as acting as the Deputy Portfolio Manager for North America. Ms. Kaufman received an MBA in Finance from Columbia Business School and an AB in Urban Studies and Political Science from Brown University. She joined LaSalle in 1994. Ms. Kaufman is a member of NAREIT and ICSC.


Joseph Moroney

Manager

Start Date

Tenure

Tenure Rank

Apr 30, 2018

1.25

1.3%

Mr. Moroney is Apollo Credit Management, LLC ’s loan product manager . Mr. Moroney joined Apollo in 2008. Prior to that time, Mr. Moroney was with Aladdin Capital Management where he most recently served as the Senior Managing Director and Senior Portfolio Manager in the Leveraged Loan Group. Mr. Moroney’s career spans 17 years, focused in financial advisory and investment management, with experience at various leading financial services firms including Merrill Lynch Investment Managers. Mr. Moroney graduated from Rutgers University with a BS in Ceramic Engineering, and he is also a Chartered Financial Analyst.


Christopher J. Parker

Manager

Start Date

Tenure

Tenure Rank

Apr 30, 2018

1.25

1.3%

Mr. Parker is Vice President of IICO and WRIMCO, Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which IICO or WRIMCO serve as investment manager. He joined Waddell & Reed in January 2008 as an investment analyst and has served as portfolio manager for investment companies managed by WRIMCO and IICO since September 2011. He earned a BS degree in Finance from Boston College and an MBA with concentrations in Finance and Management/Strategy from Northwestern University, Kellogg Graduate School of Management. Mr. Parker is a Chartered Financial Analyst.


Tenure Analysis

Category Low

0.0

Category High

43.76

Category Average

4.66

Category Mode

4.5