IVY FUND
NSAR-B, 1999-02-23
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<PAGE>      PAGE  1
000 B000000 12/31/98
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 A
001 A000000 IVY FUND
001 B000000 811-1028
001 C000000 5613938900
002 A000000 700 SOUTH FEDERAL HIGHWAY, SUITE 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 19
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 C022000 IVY US BLUE CHIP FUND
007 C032000 N
010 A00AA01 MACKENZIE INVESTMENT MANAGEMENT INC.
010 B00AA01 844-24426
010 C01AA01 BOCA RATON
010 C02AA01 FL
010 C03AA01 33432
011 A00AA01 IVY MACKENZIE DISTRIBUTORS, INC.
011 B00AA01 8-34046
011 C01AA01 BOCA RATON
011 C02AA01 FL
011 C03AA01 33432
012 A00AA01 IVY MACKENZIE SERVICES CORP.
012 B00AA01 84-01211
012 C01AA01 BOCA RATON
012 C02AA01 FL
012 C03AA01 33432
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 FT. LAUDERDALE
013 B02AA01 FL
013 B03AA01 33301
014 A00AA01 IVY MACKENZIE DISTRIBUTORS, INC.
014 B00AA01 8-34046
015 A00AA01 BROWN BROTHERS HARRIMAN AND COMPANY
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<PAGE>      PAGE  8
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<PAGE>      PAGE  10
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080 A00AA00 ICI MUTUAL INSURANCE COMPANY
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<PAGE>      PAGE  11
085 A00AA00 Y
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008 A000101 IVY MANAGEMENT, INC.
008 B000101 A
008 C000101 801-20721
008 D010101 BOCA RATON
008 D020101 FL
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008 A000104 IVY MANAGEMENT, INC.
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008 A000107 NORTHERN CROSS INVESTMENTS LTD.
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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054 D000100 N
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<PAGE>      PAGE  14
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070 F010100 Y
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070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 N
070 K020100 N
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070 L020100 Y
070 M010100 Y
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<PAGE>      PAGE  15
070 Q020100 N
070 R010100 N
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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<PAGE>      PAGE  44
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<PAGE>      PAGE  49
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<PAGE>      PAGE  54
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008 B001001 S
008 C001001 801-25226
008 D011001 TORONTO, ONTARIO
008 D051001 CANADA
008 D061001 M5S 3B5
008 A001002 IVY MANAGEMENT, INC.
008 B001002 A
008 C001002 801-20721
008 D011002 BOCA RATON
008 D021002 FL
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<PAGE>      PAGE  56
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<PAGE>      PAGE  57
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054 D001000 N
054 E001000 N
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<PAGE>      PAGE  58
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066 F001000 N
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069  001000 N
070 A011000 Y
070 A021000 N
070 B011000 N
070 B021000 N
070 C011000 N
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 Y
070 L021000 Y
070 M011000 Y
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070 N021000 N
<PAGE>      PAGE  59
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070 P011000 N
070 P021000 N
070 Q011000 N
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070 R011000 N
070 R021000 N
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<PAGE>      PAGE  60
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008 A001101 IVY MANAGEMENT, INC.
008 B001101 A
008 C001101 801-20721
008 D011101 BOCA RATON
008 D021101 FL
008 D031101 33432
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<PAGE>      PAGE  61
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<PAGE>      PAGE  62
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048 I021100 0.000
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050  001100 N
051  001100 N
052  001100 N
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053 C001100 N
054 A001100 Y
054 B001100 N
054 C001100 N
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 Y
054 H001100 Y
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 N
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054 N001100 N
054 O001100 N
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055 B001100 N
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057  001100 N
058 A001100 N
059  001100 Y
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<PAGE>      PAGE  63
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066 E001100 N
066 F001100 N
066 G001100 N
067  001100 N
068 A001100 N
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069  001100 N
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070 A021100 N
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070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
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070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 N
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<PAGE>      PAGE  64
070 Q011100 N
070 Q021100 N
070 R011100 N
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<PAGE>      PAGE  65
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008 A001301 IVY MANAGEMENT, INC.
008 B001301 A
008 C001301 801-20721
008 D011301 BOCA RATON
008 D021301 FL
008 D031301 33432
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<PAGE>      PAGE  66
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<PAGE>      PAGE  67
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054 B001300 N
054 C001300 N
054 D001300 N
054 E001300 N
054 F001300 N
054 G001300 Y
054 H001300 Y
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054 J001300 Y
054 K001300 N
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<PAGE>      PAGE  68
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064 A001300 Y
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070 H021300 N
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<PAGE>      PAGE  69
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<PAGE>      PAGE  70
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008 A001401 IVY MANAGEMENT, INC.
008 B001401 A
008 C001401 801-20721
008 D011401 BOCA RATON
008 D021401 FL
008 D031401 33432
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<PAGE>      PAGE  71
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<PAGE>      PAGE  72
050  001400 N
051  001400 N
052  001400 N
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054 C001400 N
054 D001400 N
054 E001400 N
054 F001400 N
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<PAGE>      PAGE  73
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<PAGE>      PAGE  74
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<PAGE>      PAGE  75
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<PAGE>      PAGE  76
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<PAGE>      PAGE  77
054 A001500 Y
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054 C001500 N
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054 E001500 N
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054 K001500 N
054 L001500 N
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054 O001500 N
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066 F001500 N
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<PAGE>      PAGE  78
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<PAGE>      PAGE  79
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<PAGE>      PAGE  80
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<PAGE>      PAGE  81
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<PAGE>      PAGE  82
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054 A001600 Y
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054 E001600 N
054 F001600 N
054 G001600 Y
054 H001600 Y
054 I001600 N
054 J001600 Y
054 K001600 N
054 L001600 N
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066 D001600 Y
066 E001600 N
<PAGE>      PAGE  83
066 F001600 N
066 G001600 N
067  001600 N
068 A001600 N
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069  001600 N
070 A011600 Y
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070 B011600 N
070 B021600 N
070 C011600 N
070 C021600 N
070 D011600 N
070 D021600 N
070 E011600 N
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070 F011600 N
070 F021600 N
070 G011600 N
070 G021600 N
070 H011600 N
070 H021600 N
070 I011600 N
070 I021600 N
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070 J021600 N
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070 P011600 N
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070 Q011600 N
070 Q021600 N
070 R011600 N
070 R021600 N
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<PAGE>      PAGE  84
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<PAGE>      PAGE  85
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008 B001701 A
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008 D021701 FL
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<PAGE>      PAGE  86
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051  001700 N
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053 A001700 Y
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053 C001700 N
054 A001700 Y
054 B001700 N
<PAGE>      PAGE  87
054 C001700 N
054 D001700 N
054 E001700 N
054 F001700 N
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054 K001700 N
054 L001700 N
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054 N001700 N
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<PAGE>      PAGE  88
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070 R011700 N
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<PAGE>      PAGE  89
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<PAGE>      PAGE  90
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008 B001801 A
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008 D011801 BOCA RATON
008 D021801 FL
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<PAGE>      PAGE  91
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<PAGE>      PAGE  92
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<PAGE>      PAGE  93
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<PAGE>      PAGE  94
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<PAGE>      PAGE  96
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048 I021900 0.000
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054 E001900 N
054 F001900 N
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054 L001900 N
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055 B001900 N
056  001900 Y
057  001900 N
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<PAGE>      PAGE  97
059  001900 Y
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<PAGE>      PAGE  98
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<PAGE>      PAGE  99
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<PAGE>      PAGE  100
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<PAGE>      PAGE  101
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054 E002000 N
054 F002000 N
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<PAGE>      PAGE  102
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<PAGE>      PAGE  103
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SIGNATURE   MICHAEL G. LANDRY                            
TITLE       PRESIDENT           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 011
   <NAME> IVY GROWTH FUND
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 012
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 014
   <NAME> IVY GROWTH FUND - ADVISOR CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                       3413
<SHARES-REINVESTED>                                358
<NET-CHANGE-IN-ASSETS>                        (891359)
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<ACCUMULATED-GAINS-PRIOR>                      4684515
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</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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         70096658
<INVESTMENTS-AT-VALUE>                        93915137
<RECEIVABLES>                                   168877
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<TOTAL-ASSETS>                                94874292
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<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
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<NET-CHANGE-FROM-OPS>                          8790598
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<NUMBER-OF-SHARES-REDEEMED>                    1567998
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<ACCUMULATED-NII-PRIOR>                          38689
<ACCUMULATED-GAINS-PRIOR>                    (5483970)
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<EXPENSE-RATIO>                                   1.60
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</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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<INVESTMENTS-AT-VALUE>                        93915137
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<NET-CHANGE-FROM-OPS>                          8790598
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<ACCUMULATED-GAINS-PRIOR>                    (5483970)
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</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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<ACCUMULATED-GAINS-PRIOR>                    (5483970)
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<EXPENSE-RATIO>                                   2.27
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</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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                       4619
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<ACCUMULATED-NII-PRIOR>                          38689
<ACCUMULATED-GAINS-PRIOR>                    (5483970)
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<PER-SHARE-NII>                                    .05
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<EXPENSE-RATIO>                                   1.20
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</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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<PER-SHARE-NAV-BEGIN>                            39.03
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<EXPENSE-RATIO>                                   1.58
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</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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
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<EXPENSE-RATIO>                                   2.41
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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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<DISTRIBUTIONS-OF-GAINS>                        810329
<DISTRIBUTIONS-OTHER>                           475907
<NUMBER-OF-SHARES-SOLD>                        1327805
<NUMBER-OF-SHARES-REDEEMED>                     530519
<SHARES-REINVESTED>                              66618
<NET-CHANGE-IN-ASSETS>                      (96047274)
<ACCUMULATED-NII-PRIOR>                        (32902)
<ACCUMULATED-GAINS-PRIOR>                    (6080319)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                         26278962
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               47196341
<AVERAGE-NET-ASSETS>                        2627975218
<PER-SHARE-NAV-BEGIN>                            39.06
<PER-SHARE-NII>                                    .55
<PER-SHARE-GAIN-APPREC>                           2.48
<PER-SHARE-DIVIDEND>                               .53
<PER-SHARE-DISTRIBUTIONS>                          .22
<RETURNS-OF-CAPITAL>                               .13
<PER-SHARE-NAV-END>                              41.21
<EXPENSE-RATIO>                                   1.18
<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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                       1947587136
<INVESTMENTS-AT-VALUE>                      2470934466
<RECEIVABLES>                                  7225236
<ASSETS-OTHER>                                  112024
<OTHER-ITEMS-ASSETS>                             99548
<TOTAL-ASSETS>                              2478371274
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                     10199842
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1957790724
<SHARES-COMMON-STOCK>                          3784613
<SHARES-COMMON-PRIOR>                          4525637
<ACCUMULATED-NII-CURRENT>                       144612
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<ACCUMULATED-NET-GAINS>                     (13363124)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     523599220
<NET-ASSETS>                                2468171432
<DIVIDEND-INCOME>                             57075012
<INTEREST-INCOME>                              6172165
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                47196341
<NET-INVESTMENT-INCOME>                       16050836
<REALIZED-GAINS-CURRENT>                      13086365
<APPREC-INCREASE-CURRENT>                    133784460
<NET-CHANGE-FROM-OPS>                        162921661
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                        828687
<DISTRIBUTIONS-OTHER>                           486689
<NUMBER-OF-SHARES-SOLD>                         389550
<NUMBER-OF-SHARES-REDEEMED>                    1141755
<SHARES-REINVESTED>                              11181
<NET-CHANGE-IN-ASSETS>                      (96047274)
<ACCUMULATED-NII-PRIOR>                        (32902)
<ACCUMULATED-GAINS-PRIOR>                    (6080319)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                         26278962
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               47196341
<AVERAGE-NET-ASSETS>                        2627975218
<PER-SHARE-NAV-BEGIN>                            38.64
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                           2.50
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<PER-SHARE-DISTRIBUTIONS>                          .22
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<PER-SHARE-NAV-END>                              40.79
<EXPENSE-RATIO>                                   2.40
<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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         24212266
<INVESTMENTS-AT-VALUE>                        24212266
<RECEIVABLES>                                    18104
<ASSETS-OTHER>                                    8960
<OTHER-ITEMS-ASSETS>                           2182011
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       259573
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      26161768
<SHARES-COMMON-STOCK>                         19103228
<SHARES-COMMON-PRIOR>                         15384629
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<OVERDISTRIBUTION-GAINS>                             0
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<EXPENSES-NET>                                  217895
<NET-INVESTMENT-INCOME>                        1162955
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<NET-CHANGE-FROM-OPS>                          1162955
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       910735
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<NUMBER-OF-SHARES-SOLD>                       71915171
<NUMBER-OF-SHARES-REDEEMED>                   69017307
<SHARES-REINVESTED>                             820735
<NET-CHANGE-IN-ASSETS>                         6560440
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .05
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<EXPENSE-RATIO>                                    .87
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<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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         24212266
<INVESTMENTS-AT-VALUE>                        24212266
<RECEIVABLES>                                    18104
<ASSETS-OTHER>                                    8960
<OTHER-ITEMS-ASSETS>                           2182011
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<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      26161768
<SHARES-COMMON-STOCK>                          6635540
<SHARES-COMMON-PRIOR>                          3811703
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<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                  26161768
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              1380850
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<NET-INVESTMENT-INCOME>                        1162955
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<NET-CHANGE-FROM-OPS>                          1162955
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       233841
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<NUMBER-OF-SHARES-SOLD>                       15159484
<NUMBER-OF-SHARES-REDEEMED>                   12518717
<SHARES-REINVESTED>                             183070
<NET-CHANGE-IN-ASSETS>                         6560440
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-EXPENSE>                                 358035
<AVERAGE-NET-ASSETS>                          25689223
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .05
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<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .76
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<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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         24212266
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<RECEIVABLES>                                    18104
<ASSETS-OTHER>                                    8960
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<PAID-IN-CAPITAL-COMMON>                      26161768
<SHARES-COMMON-STOCK>                           423000
<SHARES-COMMON-PRIOR>                           404996
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<DIVIDEND-INCOME>                                    0
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<NET-INVESTMENT-INCOME>                        1162955
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<NET-CHANGE-FROM-OPS>                          1162955
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        18379
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                        3746980
<NUMBER-OF-SHARES-REDEEMED>                    3742493
<SHARES-REINVESTED>                              13517
<NET-CHANGE-IN-ASSETS>                         6560440
<ACCUMULATED-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<EXPENSE-RATIO>                                    .81
<AVG-DEBT-OUTSTANDING>                               0
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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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<INVESTMENTS-AT-COST>                         79793727
<INVESTMENTS-AT-VALUE>                       125170253
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<PAYABLE-FOR-SECURITIES>                        151838
<SENIOR-LONG-TERM-DEBT>                              0
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<PAID-IN-CAPITAL-COMMON>                      83475017
<SHARES-COMMON-STOCK>                          1928135
<SHARES-COMMON-PRIOR>                          1753180
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (2546462)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      45376525
<NET-ASSETS>                                 126305080
<DIVIDEND-INCOME>                                 7327
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<NET-INVESTMENT-INCOME>                      (2134695)
<REALIZED-GAINS-CURRENT>                        177852
<APPREC-INCREASE-CURRENT>                     21048849
<NET-CHANGE-FROM-OPS>                         19092006
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         539705
<NUMBER-OF-SHARES-REDEEMED>                     957217
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         4122007
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (2724314)
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2387663
<AVERAGE-NET-ASSETS>                           5385683
<PER-SHARE-NAV-BEGIN>                            27.67
<PER-SHARE-NII>                                  (.44)
<PER-SHARE-GAIN-APPREC>                           5.42
<PER-SHARE-DIVIDEND>                                 0
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<EXPENSE-RATIO>                                   1.70
<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 US EMERGING GROWTH FUND
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<INVESTMENTS-AT-VALUE>                       125170253
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<SENIOR-LONG-TERM-DEBT>                              0
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<SHARES-COMMON-PRIOR>                          1753180
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<ACCUMULATED-NET-GAINS>                      (2546462)
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<DIVIDEND-INCOME>                                 7327
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<NET-CHANGE-FROM-OPS>                         19092006
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         362359
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<SHARES-REINVESTED>                                  0
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<ACCUMULATED-NII-PRIOR>                              0
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<PER-SHARE-NAV-BEGIN>                            27.26
<PER-SHARE-NII>                                  (.65)
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<EXPENSE-RATIO>                                   2.45
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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>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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<NET-CHANGE-IN-ASSETS>                         4122007
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<PER-SHARE-NAV-BEGIN>                            27.23
<PER-SHARE-NII>                                  (.63)
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<EXPENSE-RATIO>                                   2.40
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 054
   <NAME> IVY US EMERGING GROWTH FUND - ADV CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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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>                   YEAR
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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>                   YEAR
<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> 063
   <NAME> IVY CHINA REGION FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 064
   <NAME> IVY CHINA REGION FUND - ADVISOR CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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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>                   YEAR
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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>
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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>                   YEAR
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 081
   <NAME> IVY DEVELOPING NATIONS FUND - CLASS A
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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>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUNDS
<SERIES>
   <NUMBER> 083
   <NAME> IVY DEVELOPING NATIONS FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 084
   <NAME> IVY DEVELOPING NATIONS FUND - ADVISOR CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
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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> 1
<CURRENCY> US
       
<S>                             <C>
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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> 1
<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 103
   <NAME> IVY CANADA 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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   <NUMBER> 104
   <NAME> IVY CANADA FUND - ADVISOR CLASS
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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> 011
   <NAME> IVY GROWTH FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<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> 012
   <NAME> IVY GROWTH FUND - CLASS B
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<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> 113
   <NAME> IVY GLOBAL FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<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> 114
   <NAME> IVY GLOBAL FUND - ADVISOR CLASS
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
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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>                   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> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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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>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 135
   <NAME> IVY BOND FUND - ADVISOR CLASS
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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> 183
   <NAME> IVY INTERNATIONAL FUND II - CLASS C
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<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 185
   <NAME> IVY INTERNATIONAL FUND II
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 191
   <NAME> IVY PAN EUROPE FUND - CLASS A
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 192
   <NAME> IVY PAN EUROPE FUND
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 193
   <NAME> IVY PAN EUROPE FUND - CLASS C
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
<SERIES>
   <NUMBER> 194
   <NAME> IVY PAN EUROPE FUND - ADV CLASS
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<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY US BLUE CHIP FUND - CLASS A
<SERIES>
   <NUMBER> 201
   <NAME> IVY US BLUE CHIP - 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
<SERIES>
   <NUMBER> 202
   <NAME> IVY US BLUE CHIP FUND - CLASS B
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<CURRENCY> US
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 203
   <NAME> IVY US BLUE CHIP FUND - CLASS C
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<CURRENCY> US
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000052858
<NAME> IVY FUND
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   <NUMBER> 204
   <NAME> IVY US BLUE CHIP FUND - ADV CLASS
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<CURRENCY> US
       
<S>                             <C>
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</TABLE>


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