IVY FUND
PRER14A, 1999-07-06
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                                  SCHEDULE 14A
                                 (RULE 14A-101)
                     INFORMATION REQUIRED IN PROXY STATEMENT
                            SCHEDULE 14A INFORMATION
            Proxy Statement Pursuant to Section 14(a) of the Securities
                              Exchange Act of 1934

Filed by the Registrant                              X
Filed by a Party other than the Registrant

                  Check the appropriate box:

X        Preliminary Proxy Statement              Confidential, for Use of
                                                  the Commission Only
                                                  (as permitted by
                                                  Rule 14a-6(e)(2))
         Definitive Proxy Statement
         Definitive additional materials
         Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12

                                    IVY FUND

      (Name of Registrant as Specified in Its Charter)

      (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of filing fee (Check the appropriate box):

X    No fee required.
     Fee  computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

(1) Title of each class of securities to which transaction applies:

- ------------------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:

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(3)      Per unit  price  or other  underlying  value  of  transaction  computed
         pursuant to  Exchange  Act Rule 0-11 (Set forth the amount on which the
         filing fee is calculated and state how it was determined):

- -----------------------------------------------------------------------------
(4) Proposed maximum aggregate value of transaction:

- -----------------------------------------------------------------------------
(5) Total fee paid:

- -----------------------------------------------------------------------------
         Fee paid previously with preliminary materials:

- -----------------------------------------------------------------------------
         Check box if any part of the fee is offset as provided by Exchange  Act
         Rule  0-11(a)(2)  and identity the filing for which the  offsetting fee
         was paid  previously.  Identify  the  previous  filing by  registration
         statement number, or the form or schedule and the date of its filing.

(1)  Amount previously paid:

- -----------------------------------------------------------------------------
(2)  Form, Schedule or Registration Statement no.:

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(3)  Filing Party:

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(4)  Date Filed:

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