IYSAX : Ivy Small Cap Core Fund Class A

Fund Summary

The investment seeks to provide capital appreciation. The fund seeks to achieve its objective by investing primarily in various types of equity securities of small-capitalization companies that the Portfolio's investment manager believes have the greatest potential for capital appreciation. At least 80% of the fund's net assets will be invested, at the time of purchase, in common stocks of small-capitalization companies. Small-capitalization companies typically are companies with market capitalizations within the range of companies in the Russell 2000 Index at the time of acquisition.