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Fund Times

Ivy Funds' Parent Sells After a Challenging Period

Fund mergers and consolidations are possible after the deal closes.


On Dec. 2, 2020, Waddell & Reed (WDR), the parent company of Ivy Investments, announced that it would be acquired by Macquarie Asset Management and expects the deal to close in mid-2021. This news doesn't immediately affect Ivy's Average Parent rating or any strategy's Morningstar Analyst Rating.

Until the deal closes, Ivy expects to keep in place its current products and portfolio management teams. Thereafter, Macquarie plans to review its lineup and leaves open the possibility of a consolidation of Ivy funds or some other shakeup. Macquarie owns the U.S.-based Delaware Funds, which offers many strategies that overlap with or are similar to offerings in Ivy's lineup.

Robby Greengold does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.