Ivy High Income's William Nelson takes over as portfolio manager

By Tali David

Minneapolis, Nov. 21 - Ivy High Income Opportunities Fund announced that high-yield portfolio manager William M. Nelson assumed portfolio management of the fund, effective immediately, according to a press release.

He takes over the fund from Bryan C. Krug, who had managed the fund since its inception.

Nelson joined the firm in 1995 as a fixed-income investment analyst specializing in high-yield securities, the release said. He was appointed vice president and portfolio manager of Ivy Funds VIP High Income in 1999 and portfolio manager of the Waddell & Reed Advisors High Income Fund in 2008. He has 25 years of industry experience.

Ivy High Income Opportunities Fund's investment objective is to seek to provide total return through a combination of a high level of current income and capital appreciation.

The fund seeks to achieve its investment objective by investing primarily in a portfolio of high-yield corporate bonds of varying maturities and other fixed-income instruments of predominantly corporate issuers, including first- and second-lien secured loans, the release said.

Shawnee Mission, Kan.-based Ivy Investment Management Co. will serve as the fund's investment adviser.

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