IVY FUND
497J, 1998-12-15
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                            [DECHERT PRICE & RHOADS]
                          Ten Post Office Square, South
                           Boston, Massachusetts 02109
                                PH: (617)728-7100
                               FAX: (617)426-6567


                                                              December 15, 1998


VIA ELECTRONIC TRANSMISSION

U.S. Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

         RE:      IVY FUND, FILE NOS. 2-17613, 811-1028

Dear Sir or Madam:

         Pursuant to Rule 497(j) under the  Securities  Act of 1933,  as amended
(the  "Act"),  please  accept  this  letter  as  certification  on behalf of the
above-named  Registrant  (the  "Trust")  that  the  forms  of  Prospectuses  and
Statements of Additional  Information relating to Ivy US Blue Chip Fund that the
Trust would have filed pursuant to Rule 497(c) under the Act, in connection with
the  filing  on  October  30,  1998  pursuant  to Rule  485(b)  under the Act of
Post-Effective  Amendment No. 101 to the Trust's Registration  Statement on Form
N-1A ("PEA101"),  would not have differed from those contained in PEA101. PEA101
was   filed   electronically   on   October   30,   1998   as   Accession   No.:
0000945621-98-000158.

         No fees are required in connection with this filing.  Please call me at
(617) 728-7174 or Joseph R. Fleming at (617) 728-7161 if you have any questions.

                                                              Very truly yours,



                                                              TRACY M. SOEHLE


cc:  Joseph R. Fleming, Esq.




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