Veteran high-yield portfolio manager William M Nelson has assumed portfolio management of the Ivy High Income Opportunities Fund, effective immediately.
He takes over fund from Bryan C Krug, who had managed the fund since its inception and is leaving to join Artisan Partners Asset Management.
Nelson joined the firm in 1995 as a fixed income investment analyst specialising in high yield securities. He was appointed vice president and portfolio manager of Ivy Funds VIP High Income (USD644m in assets) in 1999 and portfolio manager of the Waddell & Reed Advisors High Income Fund (USD2bn in assets) 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.