IVY FUND
NSAR-B/A, 1997-02-27
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<PAGE>      PAGE  1
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SIGNATURE   MICHAEL G. LANDRY                            
TITLE       PRESIDENT           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 131
   <NAME> IVY BOND FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 132
   <NAME> IVY BOND FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 134
   <NAME> IVY BOND FUND - CLASS C
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<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NAME> IVY GROWTH FUND - CLASS A
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<CURRENCY> US
       
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<PER-SHARE-GAIN-APPREC>                           2.86
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                         1.74
<RETURNS-OF-CAPITAL>                               .11
<PER-SHARE-NAV-END>                               1.87
<EXPENSE-RATIO>                                   1.45
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000058258
<NAME> IVY FUND
<SERIES>
   <NUMBER> 012
   <NAME> IVY GROWTH FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                        242684177
<INVESTMENTS-AT-VALUE>                       312268502
<RECEIVABLES>                                   361496
<ASSETS-OTHER>                                   66839
<OTHER-ITEMS-ASSETS>                           8400721
<TOTAL-ASSETS>                               321097558
<PAYABLE-FOR-SECURITIES>                        975921
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1274206
<TOTAL-LIABILITIES>                            2250127
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     248919219
<SHARES-COMMON-STOCK>                           217627
<SHARES-COMMON-PRIOR>                           159356
<ACCUMULATED-NII-CURRENT>                        50714
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<ACCUMULATED-NET-GAINS>                         421731
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<DIVIDEND-INCOME>                              4027582
<INTEREST-INCOME>                               820474
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 4485154
<NET-INVESTMENT-INCOME>                         362902
<REALIZED-GAINS-CURRENT>                      30664481
<APPREC-INCREASE-CURRENT>                     17997449
<NET-CHANGE-FROM-OPS>                         49024832
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                        346890
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<NUMBER-OF-SHARES-SOLD>                         103139
<NUMBER-OF-SHARES-REDEEMED>                      63589
<SHARES-REINVESTED>                              18721
<NET-CHANGE-IN-ASSETS>                        26224015
<ACCUMULATED-NII-PRIOR>                          25339
<ACCUMULATED-GAINS-PRIOR>                     (114013)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2608378
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                4497640
<AVERAGE-NET-ASSETS>                         306854599
<PER-SHARE-NAV-BEGIN>                            16.75
<PER-SHARE-NII>                                  (.13)
<PER-SHARE-GAIN-APPREC>                           2.81
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.74
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.69
<EXPENSE-RATIO>                                   2.37
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 013
   <NAME> IVY GROWTH FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                        242684177
<INVESTMENTS-AT-VALUE>                       312268502
<RECEIVABLES>                                   361496
<ASSETS-OTHER>                                   66839
<OTHER-ITEMS-ASSETS>                           8400721
<TOTAL-ASSETS>                               321097558
<PAYABLE-FOR-SECURITIES>                        975921
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1274206
<TOTAL-LIABILITIES>                            2250127
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     248919219
<SHARES-COMMON-STOCK>                             5124
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        50714
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         421731
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      69455767
<NET-ASSETS>                                 318847431
<DIVIDEND-INCOME>                              4027582
<INTEREST-INCOME>                               820474
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 4485154
<NET-INVESTMENT-INCOME>                         362902
<REALIZED-GAINS-CURRENT>                      30664481
<APPREC-INCREASE-CURRENT>                     17997449
<NET-CHANGE-FROM-OPS>                         49024832
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                          8094
<DISTRIBUTIONS-OTHER>                              395
<NUMBER-OF-SHARES-SOLD>                           5921
<NUMBER-OF-SHARES-REDEEMED>                       1279
<SHARES-REINVESTED>                                482
<NET-CHANGE-IN-ASSETS>                        26224015
<ACCUMULATED-NII-PRIOR>                          25339
<ACCUMULATED-GAINS-PRIOR>                     (114013)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2608378
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                4497640
<AVERAGE-NET-ASSETS>                         306854599
<PER-SHARE-NAV-BEGIN>                            18.46
<PER-SHARE-NII>                                  (.06)
<PER-SHARE-GAIN-APPREC>                           1.02
<PER-SHARE-DIVIDEND>                               .09
<PER-SHARE-DISTRIBUTIONS>                         1.74
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.59
<EXPENSE-RATIO>                                   2.44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 021
   <NAME> IVY GROWTH W/INCOME FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US\
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         62277083
<INVESTMENTS-AT-VALUE>                        74242463
<RECEIVABLES>                                   183865
<ASSETS-OTHER>                                   55848
<OTHER-ITEMS-ASSETS>                           3596320
<TOTAL-ASSETS>                                78078496
<PAYABLE-FOR-SECURITIES>                        374531
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       162591
<TOTAL-LIABILITIES>                             537122
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      72807907
<SHARES-COMMON-STOCK>                          5556826
<SHARES-COMMON-PRIOR>                          5245009
<ACCUMULATED-NII-CURRENT>                        48589
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (7258212)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      11943090
<NET-ASSETS>                                  77541374
<DIVIDEND-INCOME>                              1437214
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<NET-INVESTMENT-INCOME>                         409831
<REALIZED-GAINS-CURRENT>                      12451208
<APPREC-INCREASE-CURRENT>                       907608
<NET-CHANGE-FROM-OPS>                         13768647
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                       8490622
<DISTRIBUTIONS-OTHER>                           170374
<NUMBER-OF-SHARES-SOLD>                         771160
<NUMBER-OF-SHARES-REDEEMED>                    1266282
<SHARES-REINVESTED>                             673234
<NET-CHANGE-IN-ASSETS>                         8376867
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (9063172)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           629322
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1431854
<AVERAGE-NET-ASSETS>                          74024343
<PER-SHARE-NAV-BEGIN>                            10.98
<PER-SHARE-NII>                                    .08
<PER-SHARE-GAIN-APPREC>                           2.16
<PER-SHARE-DIVIDEND>                               .08
<PER-SHARE-DISTRIBUTIONS>                         1.73
<RETURNS-OF-CAPITAL>                               .03
<PER-SHARE-NAV-END>                              11.38
<EXPENSE-RATIO>                                   1.81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 022
   <NAME> IVY GROWTH W/INCOME FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         62277083
<INVESTMENTS-AT-VALUE>                        74242463
<RECEIVABLES>                                   183865
<ASSETS-OTHER>                                   55848
<OTHER-ITEMS-ASSETS>                           3596320
<TOTAL-ASSETS>                                78078496
<PAYABLE-FOR-SECURITIES>                        374531
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       162591
<TOTAL-LIABILITIES>                             537122
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      72807907
<SHARES-COMMON-STOCK>                          1185838
<SHARES-COMMON-PRIOR>                          1008449
<ACCUMULATED-NII-CURRENT>                        48589
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (7258212)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      11943090
<NET-ASSETS>                                  77541374
<DIVIDEND-INCOME>                              1437214
<INTEREST-INCOME>                               404471
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1431854
<NET-INVESTMENT-INCOME>                         409831
<REALIZED-GAINS-CURRENT>                      12451208
<APPREC-INCREASE-CURRENT>                       907608
<NET-CHANGE-FROM-OPS>                         13768647
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                       1738301
<DISTRIBUTIONS-OTHER>                            84427
<NUMBER-OF-SHARES-SOLD>                         554493
<NUMBER-OF-SHARES-REDEEMED>                     337018
<SHARES-REINVESTED>                             160600
<NET-CHANGE-IN-ASSETS>                         8376867
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (9063172)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           629322
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1431854
<AVERAGE-NET-ASSETS>                          74024343
<PER-SHARE-NAV-BEGIN>                            10.98
<PER-SHARE-NII>                                  (.01)
<PER-SHARE-GAIN-APPREC>                           2.15
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.68
<RETURNS-OF-CAPITAL>                               .08
<PER-SHARE-NAV-END>                              11.36
<EXPENSE-RATIO>                                   2.55
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 024
   <NAME> IVY GROWTH W/INCOME FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         62277083
<INVESTMENTS-AT-VALUE>                        74242463
<RECEIVABLES>                                   183865
<ASSETS-OTHER>                                   55848
<OTHER-ITEMS-ASSETS>                           3596320
<TOTAL-ASSETS>                                78078496
<PAYABLE-FOR-SECURITIES>                        374531
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       162591
<TOTAL-LIABILITIES>                             537122
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      72807907
<SHARES-COMMON-STOCK>                             2491
<SHARES-COMMON-PRIOR>                                1
<ACCUMULATED-NII-CURRENT>                        48589
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (7258212)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      11943090
<NET-ASSETS>                                  77541374
<DIVIDEND-INCOME>                              1437214
<INTEREST-INCOME>                               404471
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                         409831
<REALIZED-GAINS-CURRENT>                      12451208
<APPREC-INCREASE-CURRENT>                       907608
<NET-CHANGE-FROM-OPS>                         13768647
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                          3730
<DISTRIBUTIONS-OTHER>                               39
<NUMBER-OF-SHARES-SOLD>                           3952
<NUMBER-OF-SHARES-REDEEMED>                       1796
<SHARES-REINVESTED>                                335
<NET-CHANGE-IN-ASSETS>                         8376867
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (9063172)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           629322
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1431854
<AVERAGE-NET-ASSETS>                          74024343
<PER-SHARE-NAV-BEGIN>                            11.73
<PER-SHARE-NII>                                  (.08)
<PER-SHARE-GAIN-APPREC>                           1.53
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.73
<RETURNS-OF-CAPITAL>                               .08
<PER-SHARE-NAV-END>                              11.37
<EXPENSE-RATIO>                                   3.02
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 023
   <NAME> IVY GROWTH W/INCOME FUND - CLASS D
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         62277083
<INVESTMENTS-AT-VALUE>                        74242463
<RECEIVABLES>                                   183865
<ASSETS-OTHER>                                   55848
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<TOTAL-ASSETS>                                78078496
<PAYABLE-FOR-SECURITIES>                        374531
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       162591
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      72807907
<SHARES-COMMON-STOCK>                            72047
<SHARES-COMMON-PRIOR>                            64119
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<ACCUMULATED-NET-GAINS>                      (7258212)
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<NET-CHANGE-FROM-OPS>                         13768647
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                      50213
<SHARES-REINVESTED>                               9114
<NET-CHANGE-IN-ASSETS>                         8376867
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<ACCUMULATED-GAINS-PRIOR>                    (9063172)
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<GROSS-EXPENSE>                                1431854
<AVERAGE-NET-ASSETS>                          74024343
<PER-SHARE-NAV-BEGIN>                            10.98
<PER-SHARE-NII>                                  (.02)
<PER-SHARE-GAIN-APPREC>                           2.14
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.63
<RETURNS-OF-CAPITAL>                               .08
<PER-SHARE-NAV-END>                              11.39
<EXPENSE-RATIO>                                   2.63
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 031
   <NAME> IVY INTERNATIONAL FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
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<INVESTMENTS-AT-COST>                       1161119066
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<PAID-IN-CAPITAL-COMMON>                    1165072805
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<ACCUMULATED-GAINS-PRIOR>                      (41822)
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<PER-SHARE-NAV-BEGIN>                            30.67
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<EXPENSE-RATIO>                                   1.65
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 032
   <NAME> IVY INTERNATIONAL FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
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<INVESTMENTS-AT-COST>                       1161119066
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<ACCUM-APPREC-OR-DEPREC>                     234137144
<NET-ASSETS>                                1399209949
<DIVIDEND-INCOME>                             16485734
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                16410188
<NET-INVESTMENT-INCOME>                        5658391
<REALIZED-GAINS-CURRENT>                      25065630
<APPREC-INCREASE-CURRENT>                    140672710
<NET-CHANGE-FROM-OPS>                        171396731
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                       5538963
<DISTRIBUTIONS-OTHER>                           430044
<NUMBER-OF-SHARES-SOLD>                        6659639
<NUMBER-OF-SHARES-REDEEMED>                     448268
<SHARES-REINVESTED>                              91688
<NET-CHANGE-IN-ASSETS>                       835550329
<ACCUMULATED-NII-PRIOR>                           5823
<ACCUMULATED-GAINS-PRIOR>                      (41822)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          9157858
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               16410188
<AVERAGE-NET-ASSETS>                         915770632
<PER-SHARE-NAV-BEGIN>                            30.67
<PER-SHARE-NII>                                  (.01)
<PER-SHARE-GAIN-APPREC>                           5.76
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .64
<RETURNS-OF-CAPITAL>                               .05
<PER-SHARE-NAV-END>                              35.73
<EXPENSE-RATIO>                                   2.45
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 034
   <NAME> IVY INTERNATIONAL FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                       1161119066
<INVESTMENTS-AT-VALUE>                      1395222702
<RECEIVABLES>                                  8794182
<ASSETS-OTHER>                                   68451
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<PAYABLE-FOR-SECURITIES>                             0
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<PAID-IN-CAPITAL-COMMON>                    1165072805
<SHARES-COMMON-STOCK>                          1249468
<SHARES-COMMON-PRIOR>                           105661
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<ACCUMULATED-NET-GAINS>                              0
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<ACCUM-APPREC-OR-DEPREC>                     234137144
<NET-ASSETS>                                1399209949
<DIVIDEND-INCOME>                             16485734
<INTEREST-INCOME>                              5582845
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<NET-INVESTMENT-INCOME>                        5658391
<REALIZED-GAINS-CURRENT>                      25065630
<APPREC-INCREASE-CURRENT>                    140672710
<NET-CHANGE-FROM-OPS>                        171396731
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                        791253
<DISTRIBUTIONS-OTHER>                           243273
<NUMBER-OF-SHARES-SOLD>                        1260097
<NUMBER-OF-SHARES-REDEEMED>                      20325
<SHARES-REINVESTED>                               9696
<NET-CHANGE-IN-ASSETS>                       835550329
<ACCUMULATED-NII-PRIOR>                           5823
<ACCUMULATED-GAINS-PRIOR>                      (41822)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               16410188
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<PER-SHARE-NAV-BEGIN>                            32.68
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                           3.74
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .64
<RETURNS-OF-CAPITAL>                               .20
<PER-SHARE-NAV-END>                              35.58
<EXPENSE-RATIO>                                   2.44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 033
   <NAME> IVY INTERNATIONAL FUND - CLASS I
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                       1161119066
<INVESTMENTS-AT-VALUE>                      1395222702
<RECEIVABLES>                                  8794182
<ASSETS-OTHER>                                   68451
<OTHER-ITEMS-ASSETS>                          12406410
<TOTAL-ASSETS>                              1416491745
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                     17281796
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1165072805
<SHARES-COMMON-STOCK>                          1486226
<SHARES-COMMON-PRIOR>                           957815
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     234137144
<NET-ASSETS>                                1399209949
<DIVIDEND-INCOME>                             16485734
<INTEREST-INCOME>                              5582845
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                16410188
<NET-INVESTMENT-INCOME>                        5658391
<REALIZED-GAINS-CURRENT>                      25065630
<APPREC-INCREASE-CURRENT>                    140672710
<NET-CHANGE-FROM-OPS>                        171396731
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       395163
<DISTRIBUTIONS-OF-GAINS>                        932968
<DISTRIBUTIONS-OTHER>                            23513
<NUMBER-OF-SHARES-SOLD>                        1105814
<NUMBER-OF-SHARES-REDEEMED>                      79940
<SHARES-REINVESTED>                              35847
<NET-CHANGE-IN-ASSETS>                       835550329
<ACCUMULATED-NII-PRIOR>                           5823
<ACCUMULATED-GAINS-PRIOR>                      (41822)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          9157858
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               16410188
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<PER-SHARE-NAV-BEGIN>                            30.67
<PER-SHARE-NII>                                    .27
<PER-SHARE-GAIN-APPREC>                           5.88
<PER-SHARE-DIVIDEND>                               .27
<PER-SHARE-DISTRIBUTIONS>                          .64
<RETURNS-OF-CAPITAL>                               .02
<PER-SHARE-NAV-END>                              35.89
<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 041
   <NAME> IVY MONEY MARKET FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         22358009
<INVESTMENTS-AT-VALUE>                        22358009
<RECEIVABLES>                                    26555
<ASSETS-OTHER>                                    4956
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<TOTAL-ASSETS>                                24939365
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                         21359067
<SHARES-COMMON-PRIOR>                         24608762
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
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<DIVIDEND-INCOME>                              1065070
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<EXPENSES-NET>                                  170083
<NET-INVESTMENT-INCOME>                         894987
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<NET-CHANGE-FROM-OPS>                           894987
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       794505
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                       67870418
<NUMBER-OF-SHARES-REDEEMED>                   71802776
<SHARES-REINVESTED>                             682663
<NET-CHANGE-IN-ASSETS>                          298289
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<GROSS-ADVISORY-FEES>                            80302
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                          19961951
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .04
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .04
<PER-SHARE-DISTRIBUTIONS>                            0
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<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 042
   <NAME> IVY MONEY MARKET FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         22358009
<INVESTMENTS-AT-VALUE>                        22358009
<RECEIVABLES>                                    26555
<ASSETS-OTHER>                                    4956
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<PAYABLE-FOR-SECURITIES>                             0
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<PAID-IN-CAPITAL-COMMON>                      24907051
<SHARES-COMMON-STOCK>                          3474373
<SHARES-COMMON-PRIOR>                                0
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<DIVIDEND-INCOME>                              1065070
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<NET-INVESTMENT-INCOME>                         894987
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        95901
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<NUMBER-OF-SHARES-SOLD>                       24768901
<NUMBER-OF-SHARES-REDEEMED>                   21362866
<SHARES-REINVESTED>                              68338
<NET-CHANGE-IN-ASSETS>                          298289
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<PER-SHARE-NII>                                    .05
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<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .77
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 043
   <NAME> IVY MONEY MARKET FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         22358009
<INVESTMENTS-AT-VALUE>                        22358009
<RECEIVABLES>                                    26555
<ASSETS-OTHER>                                    4956
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<PAYABLE-FOR-SECURITIES>                             0
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<PAID-IN-CAPITAL-COMMON>                      24907051
<SHARES-COMMON-STOCK>                            73611
<SHARES-COMMON-PRIOR>                                0
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<DIVIDEND-INCOME>                              1065070
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<NET-INVESTMENT-INCOME>                         894987
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         4581
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<NUMBER-OF-SHARES-SOLD>                         668573
<NUMBER-OF-SHARES-REDEEMED>                     597232
<SHARES-REINVESTED>                               2270
<NET-CHANGE-IN-ASSETS>                          298289
<ACCUMULATED-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .03
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<EXPENSE-RATIO>                                    .56
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 051
   <NAME> IVY EMERGING GROWTH FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         77744774
<INVESTMENTS-AT-VALUE>                        91942665
<RECEIVABLES>                                   275656
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<PAID-IN-CAPITAL-COMMON>                      81084564
<SHARES-COMMON-STOCK>                          2107267
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<ACCUM-APPREC-OR-DEPREC>                      14197891
<NET-ASSETS>                                  95282455
<DIVIDEND-INCOME>                                17415
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                        1862227
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<PER-SHARE-NAV-BEGIN>                            24.12
<PER-SHARE-NII>                                  (.35)
<PER-SHARE-GAIN-APPREC>                           4.84
<PER-SHARE-DIVIDEND>                                 0
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              26.54
<EXPENSE-RATIO>                                   1.76
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 052
   <NAME> IVY EMERGING GROWTH FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
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<PER-SHARE-NAV-BEGIN>                            24.12
<PER-SHARE-NII>                                  (.40)
<PER-SHARE-GAIN-APPREC>                           4.68
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         2.07
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              26.33
<EXPENSE-RATIO>                                   2.52
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 053
   <NAME> IVY EMERGING GROWTH FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         77744774
<INVESTMENTS-AT-VALUE>                        91942665
<RECEIVABLES>                                   275656
<ASSETS-OTHER>                                   11968
<OTHER-ITEMS-ASSETS>                           3576671
<TOTAL-ASSETS>                                95806960
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       524505
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      81084564
<SHARES-COMMON-STOCK>                           152842
<SHARES-COMMON-PRIOR>                            19557
<ACCUMULATED-NII-CURRENT>                            0
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<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      14197891
<NET-ASSETS>                                  95282455
<DIVIDEND-INCOME>                                17415
<INTEREST-INCOME>                               326958
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1548990
<NET-INVESTMENT-INCOME>                      (1204617)
<REALIZED-GAINS-CURRENT>                       6984138
<APPREC-INCREASE-CURRENT>                      3324364
<NET-CHANGE-FROM-OPS>                          9103885
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                        300431
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         156680
<NUMBER-OF-SHARES-REDEEMED>                      10721
<SHARES-REINVESTED>                               6883
<NET-CHANGE-IN-ASSETS>                        41841410
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          415
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           657579
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1548990
<AVERAGE-NET-ASSETS>                          77356786
<PER-SHARE-NAV-BEGIN>                            29.69
<PER-SHARE-NII>                                  (.14)
<PER-SHARE-GAIN-APPREC>                         (1.19)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         2.07
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              26.29
<EXPENSE-RATIO>                                   2.52
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 061
   <NAME> IVY CHINA REGION FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         23602298
<INVESTMENTS-AT-VALUE>                        25108142
<RECEIVABLES>                                  1151539
<ASSETS-OTHER>                                    6600
<OTHER-ITEMS-ASSETS>                            105176
<TOTAL-ASSETS>                                26371457
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1637916
<TOTAL-LIABILITIES>                            1637916
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      24826143
<SHARES-COMMON-STOCK>                          1484596
<SHARES-COMMON-PRIOR>                          1596446
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1598521)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1505919
<NET-ASSETS>                                  24733541
<DIVIDEND-INCOME>                               582858
<INTEREST-INCOME>                                 6056
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  578429
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                     (1001126)
<APPREC-INCREASE-CURRENT>                      5263221
<NET-CHANGE-FROM-OPS>                          4272580
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        46722
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                            30983
<NUMBER-OF-SHARES-SOLD>                        1537034
<NUMBER-OF-SHARES-REDEEMED>                    1556713
<SHARES-REINVESTED>                               6616
<NET-CHANGE-IN-ASSETS>                         4973373
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (304802)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           233804
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 644104
<AVERAGE-NET-ASSETS>                          23374470
<PER-SHARE-NAV-BEGIN>                             8.58
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                           1.74
<PER-SHARE-DIVIDEND>                               .03
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                               .02
<PER-SHARE-NAV-END>                              10.30
<EXPENSE-RATIO>                                   2.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 062
   <NAME> IVY CHINA REGION FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         23602298
<INVESTMENTS-AT-VALUE>                        25108142
<RECEIVABLES>                                  1151539
<ASSETS-OTHER>                                    6600
<OTHER-ITEMS-ASSETS>                            105176
<TOTAL-ASSETS>                                26371457
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1637916
<TOTAL-LIABILITIES>                            1637916
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      24826143
<SHARES-COMMON-STOCK>                           875128
<SHARES-COMMON-PRIOR>                           897947
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1598521)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1505919
<NET-ASSETS>                                  24733541
<DIVIDEND-INCOME>                               582858
<INTEREST-INCOME>                                 6056
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  578429
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                     (1001126)
<APPREC-INCREASE-CURRENT>                      5263221
<NET-CHANGE-FROM-OPS>                          4272580
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         998886
<NUMBER-OF-SHARES-REDEEMED>                     928212
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         4973373
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (304802)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           233804
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 644104
<AVERAGE-NET-ASSETS>                          23374470
<PER-SHARE-NAV-BEGIN>                             8.58
<PER-SHARE-NII>                                  (.04)
<PER-SHARE-GAIN-APPREC>                           1.74
<PER-SHARE-DIVIDEND>                                 0
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.28
<EXPENSE-RATIO>                                   2.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 063
   <NAME> IVY CHINA REGION FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         23602298
<INVESTMENTS-AT-VALUE>                        25108142
<RECEIVABLES>                                  1151539
<ASSETS-OTHER>                                    6600
<OTHER-ITEMS-ASSETS>                            105176
<TOTAL-ASSETS>                                26371457
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1637916
<TOTAL-LIABILITIES>                            1637916
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      24826143
<SHARES-COMMON-STOCK>                            43873
<SHARES-COMMON-PRIOR>                                1
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1598521)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1505919
<NET-ASSETS>                                  24733541
<DIVIDEND-INCOME>                               582858
<INTEREST-INCOME>                                 6056
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  578429
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                     (1001126)
<APPREC-INCREASE-CURRENT>                      5263221
<NET-CHANGE-FROM-OPS>                          4272580
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                             3703
<NUMBER-OF-SHARES-SOLD>                          50214
<NUMBER-OF-SHARES-REDEEMED>                       6665
<SHARES-REINVESTED>                                324
<NET-CHANGE-IN-ASSETS>                         4973373
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (304802)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           233804
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 644104
<AVERAGE-NET-ASSETS>                          23374470
<PER-SHARE-NAV-BEGIN>                             9.44
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                            .89
<PER-SHARE-DIVIDEND>                                 0
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<RETURNS-OF-CAPITAL>                               .09
<PER-SHARE-NAV-END>                              10.24
<EXPENSE-RATIO>                                   2.71
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 071
   <NAME> IVY L/A STRATEGY FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          5482463
<INVESTMENTS-AT-VALUE>                         5972044
<RECEIVABLES>                                    23621
<ASSETS-OTHER>                                    4301
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<TOTAL-ASSETS>                                 6180590
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        28821
<TOTAL-LIABILITIES>                              28821
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       5662800
<SHARES-COMMON-STOCK>                           471791
<SHARES-COMMON-PRIOR>                           292626
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (578)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        489547
<NET-ASSETS>                                   6151769
<DIVIDEND-INCOME>                               102477
<INTEREST-INCOME>                                  800
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  103764
<NET-INVESTMENT-INCOME>                          (487)
<REALIZED-GAINS-CURRENT>                         58873
<APPREC-INCREASE-CURRENT>                       660305
<NET-CHANGE-FROM-OPS>                           718691
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                         17179
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         321787
<NUMBER-OF-SHARES-REDEEMED>                     144190
<SHARES-REINVESTED>                               1568
<NET-CHANGE-IN-ASSETS>                         3453126
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (41578)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            42550
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 218561
<AVERAGE-NET-ASSETS>                           4254727
<PER-SHARE-NAV-BEGIN>                             6.88
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                           1.66
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .04
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.51
<EXPENSE-RATIO>                                   2.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 072
   <NAME> IVY L/A STRATEGY FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          5482463
<INVESTMENTS-AT-VALUE>                         5972044
<RECEIVABLES>                                    23621
<ASSETS-OTHER>                                    4301
<OTHER-ITEMS-ASSETS>                            180624
<TOTAL-ASSETS>                                 6180590
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        28821
<TOTAL-LIABILITIES>                              28821
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       5662800
<SHARES-COMMON-STOCK>                           238781
<SHARES-COMMON-PRIOR>                            99356
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (578)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        489547
<NET-ASSETS>                                   6151769
<DIVIDEND-INCOME>                               102477
<INTEREST-INCOME>                                  800
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  103764
<NET-INVESTMENT-INCOME>                          (487)
<REALIZED-GAINS-CURRENT>                         58873
<APPREC-INCREASE-CURRENT>                       660305
<NET-CHANGE-FROM-OPS>                           718691
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                         164935
<NUMBER-OF-SHARES-REDEEMED>                      25510
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         3453126
<ACCUMULATED-NII-PRIOR>                              0
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<GROSS-EXPENSE>                                 218561
<AVERAGE-NET-ASSETS>                           4254727
<PER-SHARE-NAV-BEGIN>                             6.88
<PER-SHARE-NII>                                  (.03)
<PER-SHARE-GAIN-APPREC>                           1.63
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.48
<EXPENSE-RATIO>                                   2.97
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 073
   <NAME> IVY L/A STRATEGY FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          5482463
<INVESTMENTS-AT-VALUE>                         5972044
<RECEIVABLES>                                    23621
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        28821
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       5662800
<SHARES-COMMON-STOCK>                            13169
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (578)
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<ACCUM-APPREC-OR-DEPREC>                        489547
<NET-ASSETS>                                   6151769
<DIVIDEND-INCOME>                               102477
<INTEREST-INCOME>                                  800
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<EXPENSES-NET>                                  103764
<NET-INVESTMENT-INCOME>                          (487)
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<APPREC-INCREASE-CURRENT>                       660305
<NET-CHANGE-FROM-OPS>                           718691
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                           370
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<NUMBER-OF-SHARES-SOLD>                          13400
<NUMBER-OF-SHARES-REDEEMED>                        236
<SHARES-REINVESTED>                                  5
<NET-CHANGE-IN-ASSETS>                         3453126
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (41578)
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 218561
<AVERAGE-NET-ASSETS>                           4254727
<PER-SHARE-NAV-BEGIN>                             7.96
<PER-SHARE-NII>                                  (.02)
<PER-SHARE-GAIN-APPREC>                            .55
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .03
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.46
<EXPENSE-RATIO>                                   3.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 081
   <NAME> IVY NEW CENTURY FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         16422592
<INVESTMENTS-AT-VALUE>                        17396117
<RECEIVABLES>                                    93810
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<OTHER-ITEMS-ASSETS>                            630285
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<OTHER-ITEMS-LIABILITIES>                        77730
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      17120124
<SHARES-COMMON-STOCK>                           981082
<SHARES-COMMON-PRIOR>                           379620
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (46396)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        973414
<NET-ASSETS>                                  18047142
<DIVIDEND-INCOME>                               213717
<INTEREST-INCOME>                                 1594
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<EXPENSES-NET>                                  269311
<NET-INVESTMENT-INCOME>                        (54000)
<REALIZED-GAINS-CURRENT>                       (46120)
<APPREC-INCREASE-CURRENT>                       948226
<NET-CHANGE-FROM-OPS>                           848106
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                              984
<NUMBER-OF-SHARES-SOLD>                         770476
<NUMBER-OF-SHARES-REDEEMED>                     169014
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        13666453
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         1333
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<AVERAGE-NET-ASSETS>                          10911483
<PER-SHARE-NAV-BEGIN>                             9.05
<PER-SHARE-NII>                                  (.02)
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<EXPENSE-RATIO>                                   2.20
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 082
   <NAME> IVY NEW CENTURY FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 083
   <NAME> IVY NEW CENTURY FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 101
   <NAME> IVY CANADA FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 102
   <NAME> IVY CANADA FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 103
   <NAME> IVY CANADA FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 111
   <NAME> IVY GLOBAL FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 112
   <NAME> IVY GLOBAL FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 113
   <NAME> IVY GLOBAL FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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<ACCUMULATED-NII-PRIOR>                          53270
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 141
   <NAME> IVY GLOBAL SC & TECH FUND - CLASS A
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   OTHER
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<PERIOD-START>                             JUL-22-1996
<PERIOD-END>                               DEC-31-1996
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<INVESTMENTS-AT-VALUE>                        11541498
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 142
   <NAME> IVY GLOBAL SC & TECH FUND - CLASS B
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   OTHER
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 143
   <NAME> IVY GLOBAL SC & TECH FUND - CLASS C
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   OTHER
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</TABLE>


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