IVY FUND
NSAR-A, 1998-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000052858
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 IVY FUND
001 B000000 811-1028
001 C000000 5613938900
002 A000000 700 S. FEDERAL HIGHWAY, STE. 300
002 B000000 BOCA RATON
002 C000000 FL
002 D010000 33432
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 18
007 C010100  1
007 C020100 IVY GROWTH FUND
007 C030100 N
007 C010200  2
007 C020200 IVY GROWTH WITH INCOME FUND
007 C030200 N
007 C010300  3
007 C020300 IVY INTERNATIONAL FUND
007 C030300 N
007 C010400  4
007 C020400 IVY MONEY MARKET FUND
007 C030400 N
007 C010500  5
007 C020500 IVY US EMERGING GROWTH FUND
007 C030500 N
007 C010600  6
007 C020600 IVY CHINA REGION FUND
007 C030600 N
007 C010700  7
007 C020700 IVY SOUTH AMERICA FUND
007 C030700 N
007 C010800  8
007 C020800 IVY DEVELOPING NATIONS FUND
007 C030800 N
007 C010900  9
007 C020900 IVY HIGH YIELD FUND
007 C030900 N
007 C011000 10
007 C021000 IVY CANADA FUND
<PAGE>      PAGE  2
007 C031000 N
007 C011100 11
007 C021100 IVY GLOBAL FUND
007 C031100 N
007 C011200 12
007 C011300 13
007 C021300 IVY BOND FUND
007 C031300 N
007 C011400 14
007 C021400 IVY GLOBAL SCIENCE & TECHNOLOGY FUND
007 C031400 N
007 C011500 15
007 C021500 IVY ASIA PACIFIC FUND
007 C031500 N
007 C011600 16
007 C021600 IVY GLOBAL NATURAL RESOURCES FUND
007 C031600 N
007 C011700 17
007 C021700 IVY INTERNATIONAL SMALL COMPANIES FUND
007 C031700 N
007 C011800 18
007 C021800 IVY INTERNATIONAL FUND II
007 C031800 N
007 C011900 19
007 C021900 IVY PAN-EUROPE FUND
007 C031900 N
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
<PAGE>      PAGE  3
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007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
086 E020000      0
086 F010000      0
086 F020000      0
008 A000101 IVY MANAGEMENT, INC.
008 B000101 A
008 C000101 801-20721
008 D010101 BOCA RATON
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029  000100 Y
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030 B000100  5.75
030 C000100  1.00
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<PAGE>      PAGE  12
042 F000100   0
042 G000100   0
042 H000100 100
043  000100    117
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049  000100 N
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052  000100 N
053 A000100 N
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062 J000100   0.0
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066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 N
<PAGE>      PAGE  13
070 A020100 N
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070 C020100 N
070 D010100 Y
070 D020100 Y
070 E010100 N
070 E020100 N
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070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
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070 K010100 N
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
074 V020100    19.94
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<PAGE>      PAGE  16
042 H000200 100
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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050  000800 N
051  000800 N
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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<PAGE>      PAGE  39
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<PAGE>      PAGE  40
048 K010900        0
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049  000900 N
050  000900 N
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<PAGE>      PAGE  41
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<PAGE>      PAGE  42
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<PAGE>      PAGE  43
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<PAGE>      PAGE  44
042 G001000   0
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<PAGE>      PAGE  45
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<PAGE>      PAGE  46
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<PAGE>      PAGE  47
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<PAGE>      PAGE  48
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<PAGE>      PAGE  49
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008 A001201 DELETE
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<PAGE>      PAGE  50
028 H001200         0
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<PAGE>      PAGE  51
054 C001200 N
054 D001200 N
054 E001200 N
054 F001200 N
054 G001200 Y
054 H001200 Y
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054 J001200 Y
054 K001200 N
054 L001200 N
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<PAGE>      PAGE  52
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<PAGE>      PAGE  53
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<PAGE>      PAGE  54
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<PAGE>      PAGE  55
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<PAGE>      PAGE  56
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<PAGE>      PAGE  57
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<PAGE>      PAGE  58
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008 A001401 IVY MANAGEMENT, INC.
008 B001401 A
008 C001401 801-20721
008 D011401 BOCA RATON
008 D021401 FL
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<PAGE>      PAGE  59
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050  001400 N
051  001400 N
052  001400 N
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056  001400 N
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059  001400 Y
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<PAGE>      PAGE  60
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066 A001400 Y
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066 E001400 N
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068 A001400 N
068 B001400 Y
069  001400 N
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<PAGE>      PAGE  61
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008 A001501 IVY MANAGEMENT, INC.
008 B001501 A
008 C001501 801-20721
008 D011501 BOCA RATON
008 D021501 FL
008 D031501 33432
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<PAGE>      PAGE  62
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047  001500 Y
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<PAGE>      PAGE  63
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054 A001500 Y
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054 C001500 N
054 D001500 N
054 E001500 N
054 F001500 N
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054 K001500 N
054 L001500 N
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054 O001500 N
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<PAGE>      PAGE  64
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067  001500 N
068 A001500 N
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069  001500 N
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<PAGE>      PAGE  65
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070 Q021500 N
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<PAGE>      PAGE  66
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008 D011601 BOCA RATON
008 D021601 FL
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<PAGE>      PAGE  67
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<PAGE>      PAGE  68
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<PAGE>      PAGE  69
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068 A001600 N
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069  001600 N
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070 G021600 N
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070 J011600 N
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<PAGE>      PAGE  70
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070 Q021600 N
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<PAGE>      PAGE  71
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008 A001701 IVY MANAGEMENT, INC.
008 B001701 A
008 C001701 801-20721
008 D011701 BOCA RATON
008 D021701 FL
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<PAGE>      PAGE  72
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<PAGE>      PAGE  73
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051  001700 N
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054 A001700 Y
054 B001700 N
054 C001700 N
054 D001700 N
054 E001700 N
054 F001700 N
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054 H001700 Y
054 I001700 N
054 J001700 Y
054 K001700 N
054 L001700 N
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054 O001700 N
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055 B001700 N
056  001700 Y
057  001700 N
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<PAGE>      PAGE  74
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SIGNATURE   MICHAEL G. LANDRY                            
TITLE       PRESIDENT           
 


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<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1425808
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2314604
<AVERAGE-NET-ASSETS>                         338264383
<PER-SHARE-NAV-BEGIN>                            17.47
<PER-SHARE-NII>                                  (.08)
<PER-SHARE-GAIN-APPREC>                           2.25
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.64
<EXPENSE-RATIO>                                   2.48
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 014
   <NAME> IVY GROWTH FUND - ADV CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                   1.00
<INVESTMENTS-AT-COST>                        237375486
<INVESTMENTS-AT-VALUE>                       327744760
<RECEIVABLES>                                   855428
<ASSETS-OTHER>                                   41682
<OTHER-ITEMS-ASSETS>                          16819289
<TOTAL-ASSETS>                               345461169
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      2032630
<TOTAL-LIABILITIES>                            2032630
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     228492138
<SHARES-COMMON-STOCK>                            15949
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                       454124
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       24120177
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      90362100
<NET-ASSETS>                                 343428539
<DIVIDEND-INCOME>                              2031699
<INTEREST-INCOME>                               556063
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 2314604
<NET-INVESTMENT-INCOME>                         273158
<REALIZED-GAINS-CURRENT>                      19435662
<APPREC-INCREASE-CURRENT>                     21549681
<NET-CHANGE-FROM-OPS>                         41258501
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          16366
<NUMBER-OF-SHARES-REDEEMED>                        417
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        18594833
<ACCUMULATED-NII-PRIOR>                         180966
<ACCUMULATED-GAINS-PRIOR>                      4684515
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1425808
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2314604
<AVERAGE-NET-ASSETS>                         338264383
<PER-SHARE-NAV-BEGIN>                            20.36
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                          (.25)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              20.13
<EXPENSE-RATIO>                                   1.15
<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 WITH INCOME FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         67399899
<INVESTMENTS-AT-VALUE>                        90202754
<RECEIVABLES>                                   708972
<ASSETS-OTHER>                                   23386
<OTHER-ITEMS-ASSETS>                           8938305
<TOTAL-ASSETS>                                99873417
<PAYABLE-FOR-SECURITIES>                         85125
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       194483
<TOTAL-LIABILITIES>                             279608
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      77204308
<SHARES-COMMON-STOCK>                          5159172
<SHARES-COMMON-PRIOR>                          5538514
<ACCUMULATED-NII-CURRENT>                     (267982)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (145372)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      22802855
<NET-ASSETS>                                  99593809
<DIVIDEND-INCOME>                               666128
<INTEREST-INCOME>                               272048
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  877048
<NET-INVESTMENT-INCOME>                          60231
<REALIZED-GAINS-CURRENT>                       5338598
<APPREC-INCREASE-CURRENT>                      4428977
<NET-CHANGE-FROM-OPS>                          9827806
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        60121
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                           204498
<NUMBER-OF-SHARES-SOLD>                         291678
<NUMBER-OF-SHARES-REDEEMED>                     687305
<SHARES-REINVESTED>                              16285
<NET-CHANGE-IN-ASSETS>                         5425110
<ACCUMULATED-NII-PRIOR>                          38689
<ACCUMULATED-GAINS-PRIOR>                    (5483970)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           367259
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 877945
<AVERAGE-NET-ASSETS>                          98747474
<PER-SHARE-NAV-BEGIN>                            12.59
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                           1.30
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.86
<EXPENSE-RATIO>                                   1.60
<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 WITH INCOME FUND - CLASS B
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         67399899
<INVESTMENTS-AT-VALUE>                        90202754
<RECEIVABLES>                                   708972
<ASSETS-OTHER>                                   23386
<OTHER-ITEMS-ASSETS>                           8938305
<TOTAL-ASSETS>                                99873417
<PAYABLE-FOR-SECURITIES>                         85125
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       194483
<TOTAL-LIABILITIES>                             279608
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      77204308
<SHARES-COMMON-STOCK>                          1726981
<SHARES-COMMON-PRIOR>                          1601100
<ACCUMULATED-NII-CURRENT>                     (267982)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (145372)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      22802855
<NET-ASSETS>                                  99593809
<DIVIDEND-INCOME>                               666128
<INTEREST-INCOME>                               272048
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  877945
<NET-INVESTMENT-INCOME>                          60231
<REALIZED-GAINS-CURRENT>                       5338598
<APPREC-INCREASE-CURRENT>                      4428977
<NET-CHANGE-FROM-OPS>                          9827806
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        85346
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         450164
<NUMBER-OF-SHARES-REDEEMED>                     329554
<SHARES-REINVESTED>                               5271
<NET-CHANGE-IN-ASSETS>                         5425110
<ACCUMULATED-NII-PRIOR>                          38689
<ACCUMULATED-GAINS-PRIOR>                    (5483970)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           367259
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 877945
<AVERAGE-NET-ASSETS>                          98747474
<PER-SHARE-NAV-BEGIN>                            12.54
<PER-SHARE-NII>                                  (.03)
<PER-SHARE-GAIN-APPREC>                           1.28
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.74
<EXPENSE-RATIO>                                   2.33
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 023
   <NAME> IVY GROWTH W/INCOME - I
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         62962322
<INVESTMENTS-AT-VALUE>                        81336199
<RECEIVABLES>                                   191553
<ASSETS-OTHER>                                12822682
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                94350434
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       181735
<TOTAL-LIABILITIES>                             181735
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      81240103
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                            72047
<ACCUMULATED-NII-CURRENT>                        38689
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (5483970)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      18373877
<NET-ASSETS>                                  94168699
<DIVIDEND-INCOME>                              1477430
<INTEREST-INCOME>                               332929
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1445914
<NET-INVESTMENT-INCOME>                         364445
<REALIZED-GAINS-CURRENT>                        963068
<APPREC-INCREASE-CURRENT>                      6430787
<NET-CHANGE-FROM-OPS>                         16433300
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         2746
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                      72222
<SHARES-REINVESTED>                                175
<NET-CHANGE-IN-ASSETS>                        16627325
<ACCUMULATED-NII-PRIOR>                          48589
<ACCUMULATED-GAINS-PRIOR>                    (7258212)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           624013
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1445914
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                            11.39
<PER-SHARE-NII>                                  (.01)
<PER-SHARE-GAIN-APPREC>                           1.88
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                          .04
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.20
<EXPENSE-RATIO>                                   2.41
<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 WITH INCOME FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         67399899
<INVESTMENTS-AT-VALUE>                        90202754
<RECEIVABLES>                                   708972
<ASSETS-OTHER>                                   23386
<OTHER-ITEMS-ASSETS>                           8938305
<TOTAL-ASSETS>                                99873417
<PAYABLE-FOR-SECURITIES>                         85125
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       194483
<TOTAL-LIABILITIES>                             279608
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      77204308
<SHARES-COMMON-STOCK>                           306215
<SHARES-COMMON-PRIOR>                           350084
<ACCUMULATED-NII-CURRENT>                     (267982)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (145372)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      22802855
<NET-ASSETS>                                  99593809
<DIVIDEND-INCOME>                               666128
<INTEREST-INCOME>                               272048
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  877945
<NET-INVESTMENT-INCOME>                          60231
<REALIZED-GAINS-CURRENT>                       5338598
<APPREC-INCREASE-CURRENT>                      4428977
<NET-CHANGE-FROM-OPS>                          9827806
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        16707
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          17808
<NUMBER-OF-SHARES-REDEEMED>                      62837
<SHARES-REINVESTED>                               1160
<NET-CHANGE-IN-ASSETS>                         5425110
<ACCUMULATED-NII-PRIOR>                          38689
<ACCUMULATED-GAINS-PRIOR>                    (5483970)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           367259
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 877945
<AVERAGE-NET-ASSETS>                          98747474
<PER-SHARE-NAV-BEGIN>                            12.44
<PER-SHARE-NII>                                  (.02)
<PER-SHARE-GAIN-APPREC>                           1.28
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.65
<EXPENSE-RATIO>                                   2.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 025
   <NAME> IVY GROWTH WITH INCOME FUND - ADV CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         67399899
<INVESTMENTS-AT-VALUE>                        90202754
<RECEIVABLES>                                   708972
<ASSETS-OTHER>                                   23386
<OTHER-ITEMS-ASSETS>                           8938305
<TOTAL-ASSETS>                                99873417
<PAYABLE-FOR-SECURITIES>                         85125
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       194483
<TOTAL-LIABILITIES>                             279608
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      77204308
<SHARES-COMMON-STOCK>                            13915
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                     (267982)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (145372)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      22802855
<NET-ASSETS>                                  99593809
<DIVIDEND-INCOME>                               666128
<INTEREST-INCOME>                               272048
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  877945
<NET-INVESTMENT-INCOME>                          60231
<REALIZED-GAINS-CURRENT>                       5338598
<APPREC-INCREASE-CURRENT>                      4428977
<NET-CHANGE-FROM-OPS>                          9827806
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          110
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                              119
<NUMBER-OF-SHARES-SOLD>                          14244
<NUMBER-OF-SHARES-REDEEMED>                        332
<SHARES-REINVESTED>                                  3
<NET-CHANGE-IN-ASSETS>                         5425110
<ACCUMULATED-NII-PRIOR>                          38689
<ACCUMULATED-GAINS-PRIOR>                    (5483970)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           367259
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 877945
<AVERAGE-NET-ASSETS>                          98747474
<PER-SHARE-NAV-BEGIN>                            13.88
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .03
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.87
<EXPENSE-RATIO>                                   1.20
<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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                       2220951883
<INVESTMENTS-AT-VALUE>                      2777339434
<RECEIVABLES>                                 22498850
<ASSETS-OTHER>                                   94376
<OTHER-ITEMS-ASSETS>                             99422
<TOTAL-ASSETS>                              2800032082
<PAYABLE-FOR-SECURITIES>                       2699764
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      9228433
<TOTAL-LIABILITIES>                           11928197
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    2169609571
<SHARES-COMMON-STOCK>                         44123717
<SHARES-COMMON-PRIOR>                         43632675
<ACCUMULATED-NII-CURRENT>                     16632257
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       45580717
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     556281340
<NET-ASSETS>                                2788103885
<DIVIDEND-INCOME>                             38234606
<INTEREST-INCOME>                              2982083
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                24551530
<NET-INVESTMENT-INCOME>                       16665159
<REALIZED-GAINS-CURRENT>                      51661036
<APPREC-INCREASE-CURRENT>                    166466580
<NET-CHANGE-FROM-OPS>                        234792775
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        5844796
<NUMBER-OF-SHARES-REDEEMED>                    5419754
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       223885179
<ACCUMULATED-NII-PRIOR>                        (32902)
<ACCUMULATED-GAINS-PRIOR>                    (6080319)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                         13708540
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               24551530
<AVERAGE-NET-ASSETS>                        2764429314
<PER-SHARE-NAV-BEGIN>                            39.03
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                           3.35
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              42.68
<EXPENSE-RATIO>                                   1.57
<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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                   1.00
<INVESTMENTS-AT-COST>                       2220951883
<INVESTMENTS-AT-VALUE>                      2777339434
<RECEIVABLES>                                 22498850
<ASSETS-OTHER>                                   94376
<OTHER-ITEMS-ASSETS>                             99422
<TOTAL-ASSETS>                              2800032082
<PAYABLE-FOR-SECURITIES>                       2699764
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      9228433
<TOTAL-LIABILITIES>                           11928197
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    2169609570
<SHARES-COMMON-STOCK>                         14196211
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<PER-SHARE-NAV-BEGIN>                            38.82
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<EXPENSE-RATIO>                                   2.42
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 033
   <NAME> IVY INTERNATIONAL FUND - CLASS I
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 034
   <NAME> IVY INTERNATIONAL FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 041
   <NAME> IVY MONEY MARKET FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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<NUMBER-OF-SHARES-REDEEMED>                 (34003874)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 042
   <NAME> IVY MONEY MARKET FUND - CLASS B
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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<DISTRIBUTIONS-OF-INCOME>                      (92671)
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<NUMBER-OF-SHARES-REDEEMED>                 (58475513)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 043
   <NAME> IVY MONEY MARKET FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 051
   <NAME> IVY US EMERGING GROWTH FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 052
   <NAME> IVY US EMERGING GROWTH FUND - CLASS B
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<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 053
   <NAME> IVY US EMERGING GROWTH FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         88283178
<INVESTMENTS-AT-VALUE>                       120200607
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<PAID-IN-CAPITAL-COMMON>                      92276447
<SHARES-COMMON-STOCK>                           343917
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<INTEREST-INCOME>                               132908
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<NET-INVESTMENT-INCOME>                      (1124176)
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<APPREC-INCREASE-CURRENT>                      7589753
<NET-CHANGE-FROM-OPS>                         10952405
<EQUALIZATION>                                       0
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<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         2649141
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (2724314)
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<INTEREST-EXPENSE>                                   0
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<PER-SHARE-NAV-BEGIN>                            27.23
<PER-SHARE-NII>                                  (.31)
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<EXPENSE-RATIO>                                   2.40
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 054
   <NAME> IVY US EMERGING GROWTH FUND - CLASS ADV
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         88283178
<INVESTMENTS-AT-VALUE>                       120200607
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<ASSETS-OTHER>                                   16630
<OTHER-ITEMS-ASSETS>                           5311810
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<PAID-IN-CAPITAL-COMMON>                      92276447
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<INTEREST-INCOME>                               132908
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<NET-INVESTMENT-INCOME>                      (1124176)
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<APPREC-INCREASE-CURRENT>                      7589753
<NET-CHANGE-FROM-OPS>                         10952405
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                          19941
<NUMBER-OF-SHARES-REDEEMED>                       2100
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         2649141
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (2724314)
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1259896
<AVERAGE-NET-ASSETS>                         124129007
<PER-SHARE-NAV-BEGIN>                            28.82
<PER-SHARE-NII>                                  (.08)
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<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   1.23
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 061
   <NAME> IVY CHINA REGION FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         25714019
<INVESTMENTS-AT-VALUE>                        14911512
<RECEIVABLES>                                   198532
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<OTHER-ITEMS-ASSETS>                             22267
<TOTAL-ASSETS>                                15142583
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      28355510
<SHARES-COMMON-STOCK>                          1518156
<SHARES-COMMON-PRIOR>                          1495420
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<ACCUMULATED-NET-GAINS>                      (2703735)
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<REALIZED-GAINS-CURRENT>                      (216614)
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<NET-CHANGE-FROM-OPS>                        (6087848)
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         970665
<NUMBER-OF-SHARES-REDEEMED>                     947929
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (6033938)
<ACCUMULATED-NII-PRIOR>                         (3240)
<ACCUMULATED-GAINS-PRIOR>                    (2487121)
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<INTEREST-EXPENSE>                                   0
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<PER-SHARE-NAV-BEGIN>                             8.04
<PER-SHARE-NII>                                    .07
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<EXPENSE-RATIO>                                   2.35
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 062
   <NAME> IVY CHINA REGION FUND - CLASS B
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         25714019
<INVESTMENTS-AT-VALUE>                        14911512
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      28355510
<SHARES-COMMON-STOCK>                          1014755
<SHARES-COMMON-PRIOR>                           991262
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<ACCUMULATED-NET-GAINS>                      (2703735)
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<REALIZED-GAINS-CURRENT>                      (216614)
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<NET-CHANGE-FROM-OPS>                        (6087848)
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         456225
<NUMBER-OF-SHARES-REDEEMED>                     432732
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<NET-CHANGE-IN-ASSETS>                       (6033938)
<ACCUMULATED-NII-PRIOR>                         (3240)
<ACCUMULATED-GAINS-PRIOR>                    (2487121)
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<INTEREST-EXPENSE>                                   0
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<PER-SHARE-NAV-BEGIN>                             7.96
<PER-SHARE-NII>                                    .04
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<EXPENSE-RATIO>                                   3.14
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 063
   <NAME> IVY CHINA REGION FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         25714019
<INVESTMENTS-AT-VALUE>                        14911512
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<PAID-IN-CAPITAL-COMMON>                      28355510
<SHARES-COMMON-STOCK>                           135590
<SHARES-COMMON-PRIOR>                           142140
<ACCUMULATED-NII-CURRENT>                       161697
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<ACCUMULATED-NET-GAINS>                      (2703735)
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<NET-INVESTMENT-INCOME>                         164937
<REALIZED-GAINS-CURRENT>                      (214614)
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<NET-CHANGE-FROM-OPS>                        (6087848)
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         254085
<NUMBER-OF-SHARES-REDEEMED>                     260635
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (6033938)
<ACCUMULATED-NII-PRIOR>                         (3240)
<ACCUMULATED-GAINS-PRIOR>                    (2487121)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 313318
<AVERAGE-NET-ASSETS>                          21609854
<PER-SHARE-NAV-BEGIN>                             7.94
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                         (2.42)
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<EXPENSE-RATIO>                                   2.98
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 064
   <NAME> IVY CHINA REGION FUND - CLASS ADV
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         25714019
<INVESTMENTS-AT-VALUE>                        14911512
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<NUMBER-OF-SHARES-REDEEMED>                      80467
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<AVERAGE-NET-ASSETS>                          21609854
<PER-SHARE-NAV-BEGIN>                             7.89
<PER-SHARE-NII>                                    .10
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<EXPENSE-RATIO>                                   2.73
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 071
   <NAME> IVY SOUTH AMERICA FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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<NUMBER-OF-SHARES-SOLD>                          34912
<NUMBER-OF-SHARES-REDEEMED>                     294967
<SHARES-REINVESTED>                                  0
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<ACCUMULATED-NII-PRIOR>                         (1356)
<ACCUMULATED-GAINS-PRIOR>                        76588
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<AVERAGE-NET-ASSETS>                           6918778
<PER-SHARE-NAV-BEGIN>                             8.96
<PER-SHARE-NII>                                    .09
<PER-SHARE-GAIN-APPREC>                         (1.25)
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<PER-SHARE-NAV-END>                               7.80
<EXPENSE-RATIO>                                   2.41
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 072
   <NAME> IVY SOUTH AMERICA FUND - CLASS B
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 073
   <NAME> IVY SOUTH AMERICA FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 081
   <NAME> IVY DEVELOPING NATIONS FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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<INVESTMENTS-AT-VALUE>                        14689109
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 082
   <NAME> IVY DEVELOPING NATIONS FUND - CLASS B
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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<PAYABLE-FOR-SECURITIES>                         58953
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<PAID-IN-CAPITAL-COMMON>                      26801208
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<REALIZED-GAINS-CURRENT>                      (837094)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 083
   <NAME> IVY DEVELOPING NATIONS FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 084
   <NAME> IVY DEVELOPING NATIONS FUND - CLASS ADV
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 091
   <NAME> IVY HIGH YIELD FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 092
   <NAME> IVY HIGH YIELD FUND - CLASS B
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<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 093
   <NAME> IVY HIGH YIELD FUND - CLASS C
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<CURRENCY> US
       
<S>                             <C>
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<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>

<TABLE> <S> <C>

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<NAME> IVY FUND
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   <NUMBER> 094
   <NAME> IVY HIGH YIELD FUND - CLASS I
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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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   <NUMBER> 095
   <NAME> IVY HIGH YIELD FUND - ADV CLASS
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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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   <NUMBER> 101
   <NAME> IVY CANADA FUND - CLASS A
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 102
   <NAME> IVY CANADA FUND - CLASS B
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 103
   <NAME> IVY CANADA FUND - CLASS C
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<CURRENCY> US
       
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</TABLE>

<TABLE> <S> <C>

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   <NUMBER> 104
   <NAME> IVY CANADA FUND - ADV
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</TABLE>

<TABLE> <S> <C>

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   <NUMBER> 111
   <NAME> IVY GLOBAL FUND - CLASS A
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<CURRENCY> US
       
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 112
   <NAME> IVY GLOBAL FUND - CLASS B
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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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 114
   <NAME> IVY GLOBAL FUND - ADV CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 131
   <NAME> IVY BOND FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
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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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 133
   <NAME> IVY BOND FUND - CLASS I
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 134
   <NAME> IVY BOND FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 135
   <NAME> IVY BOND FUND - CLASS ADV
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

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</TABLE>

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   <NAME> IVY GLOBAL NATURAL RESOURCES FUND - CLASS C
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</TABLE>

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</TABLE>

<TABLE> <S> <C>

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</TABLE>

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</TABLE>

<TABLE> <S> <C>

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</TABLE>

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</TABLE>

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   <NUMBER> 182
   <NAME> IVY INTERNATIONAL FUND II - CLASS B
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</TABLE>

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   <NUMBER> 183
   <NAME> IVY INTERNATIONAL FUND II - CLASS C
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</TABLE>

<TABLE> <S> <C>

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<NAME> IVY FUND
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   <NUMBER> 184
   <NAME> IVY INTERNATIONAL FUND II - CLASS I
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</TABLE>

<TABLE> <S> <C>

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   <NAME> IVY INTERNATIONAL FUND II - CLASS ADV
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</TABLE>

<TABLE> <S> <C>

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   <NAME> IVY PAN EUROPE FUND - CLASS A
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</TABLE>

<TABLE> <S> <C>

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   <NAME> IVY PAN EUROPE FUND - CLASS B
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
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   <NAME> IVY PAN EUROPE FUND - CLASS C
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</TABLE>

<TABLE> <S> <C>

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   <NAME> IVY PAN EUROPE FUND - CLASS A
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