IREAX : Ivy LaSalle Global Real Estate Fund Class A

Fund Summary

The investment seeks to provide total return through long-term capital appreciation and current income. The fund is a non-diversified fund that invests, under normal circumstances, at least 80% of its net assets in securities of companies in the real estate or real estate-related industries. It may make substantial investments in non-U.S. dollar denominated securities and may invest up to 100% of its total assets in foreign securities. The fund invests at least 40% (or, if the portfolio managers deem it warranted by market conditions, at least 30%) of its total assets in securities of non-U.S. issuers. It is non-diversified.