UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Notice of Effectiveness
Effectiveness Date:	April 15, 2011 10:00 A.M.

Form:

N-14

CIK: 0000883622 Company Name: IVY FUNDS File Number: 333-172671 SERIES/CLASSES (CONTRACTS) MERGERS CIK Series ID Class/Contract Name Acquiring: 0000883622 IVY FUNDS S000006291 Ivy Large Cap Growth Fund C000017290 Class A Target: 0000883622 IVY FUNDS S000006287 Ivy Capital Appreciation Fund C000017273 Class A CIK Series ID Class/Contract Name Acquiring: 0000883622 IVY FUNDS S000006291 Ivy Large Cap Growth Fund C000017291 Class B Target: 0000883622 IVY FUNDS S000006287 Ivy Capital Appreciation Fund C000017274 Class B CIK Series ID Class/Contract Name Acquiring: 0000883622 IVY FUNDS S000006291 Ivy Large Cap Growth Fund C000017292 Class C Target: 0000883622 IVY FUNDS S000006287 Ivy Capital Appreciation Fund C000017275 Class C CIK Series ID Class/Contract Name Acquiring: 0000883622 IVY FUNDS S000006291 Ivy Large Cap Growth Fund C000017293 Class Y Target: 0000883622 IVY FUNDS S000006287 Ivy Capital Appreciation Fund C000017276 Class Y CIK Series ID Class/Contract Name Acquiring: 0000883622 IVY FUNDS S000006291 Ivy Large Cap Growth Fund C000043904 Class E Target: 0000883622 IVY FUNDS S000006287 Ivy Capital Appreciation Fund C000043901 Class E CIK Series ID Class/Contract Name Acquiring: 0000883622 IVY FUNDS S000006291 Ivy Large Cap Growth Fund C000045547 Class I Target: 0000883622 IVY FUNDS S000006287 Ivy Capital Appreciation Fund C000045544 Class I