IAPOX : Ivy Apollo Strategic Income Fund Class A

Fund Summary

The investment seeks to provide a high level of current income; capital appreciation is a secondary objective. The fund seeks to achieve its objectives by allocating its assets among three different investment strategies: Total Return Strategy (Apollo); Global Bond Strategy (IICO); and High Income Strategy (IICO). Apollo invests the assets allocated to the total return strategy using a multi-sector approach across a broad range of credit-oriented markets with a primary, but not exclusive, focus on non-investment grade credit.