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Ivy Funds Thomas W Butch

Ivy Funds partners with Apollo to launch two income-oriented funds


Ivy Investment Management Company (IICO) has teamed up with Apollo Credit Management (Apollo) to launch two income-oriented mutual funds that include allocation “sleeves” based on current Ivy Funds strategies and the Apollo Total Return Fund strategy, Apollo’s flagship in liquid alternative credit.

The Ivy Apollo Strategic Income Fund includes flexible allocations of 10 per cent to 70 per cent to the High Income strategy sleeve and the Global Bond strategy sleeve, managed by IICO. It also will have a static 20 per cent target allocation to the Total Return strategy sleeve managed by Apollo.
The Ivy Apollo Multi-Asset Income Fund has a 50-50 allocation mix to fixed income and equities. It targets 20 per cent to the Total Return strategy sleeve, 30 per cent to the High Income strategy sleeve, 40 per cent to the Global Equity Income strategy sleeve and 10 per cent to the Global Real Estate Strategy sleeve, which is managed by LaSalle US.
Mark Beischel, Global Director of Fixed Income of IICO, has oversight of allocation levels and management of all allocation sleeves for Ivy Apollo Strategic Income Fund. For Ivy Multi-Asset Income Fund, Beischel shares oversight duties with Philip Sanders, Chief Investment Officer of IICO. This is Ivy Fund’s first investment product collaboration with Apollo.
“We’re pleased to partner with Apollo, which brings experience in liquid and alternative credit investments,” says Thomas W Butch (pictured), President and CEO of Ivy Funds Distributor, Inc. “The combination of complementary but individual strategies may help investors diversify a portfolio while potentially accessing more income with lower volatility.”
Butch points out that the addition of the Apollo Total Return Strategy to the allocation range provides investors with access to a range of debt securities not available in traditional mutual funds, including structured credit, corporate credit and real estate of any liquidity or credit quality.
“We believe this represents a great opportunity for retail investors to gain exposure to a mix of asset categories that can’t easily be found in other traditional mutual fund products,” says Stephanie Drescher, partner and Global Head of Business Development at Apollo. “Apollo and Ivy Funds provide a compelling and complementary combination of capabilities and innovation.”

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