Ivy Funds - Delaware Ivy High Income Opportunities Fund (NYSE: IVH) operates as a closed-end fixed income mutual fund. The fund invests primarily in high-yield corporate bonds of varying maturities, secured loans, other corporate fixed-income instruments rated below investment grade (below Baa3 by Moody's or below BBB- by S&P or Fitch), and securities across diversified sectors in global fixed income markets; it seeks total return through high current income and capital appreciation. Formed on May 29, 2013, the fund is domiciled in the United States with headquarters in Philadelphia, Pennsylvania at 610 Market Street.
In March 2023, the fund completed a reorganization whereby substantially all of its assets were acquired by abrdn Income Credit Strategies Fund (NYSE: ACP) in a tax-free transaction approved by shareholders on November 9, 2022; the exchange ratio was approximately 1.615 shares of ACP for each IVH share, after which IVH shares were delisted from the NYSE and the fund was dissolved.
Prior to the reorganization, the fund was managed by Ivy Investment Management Company, later transitioning under Delaware Management Company (a series of Macquarie Investment Management Business Trust); it targeted income-focused investors with monthly distributions from income, capital gains, and return of capital. The fund's strategy emphasized non-investment grade debt from U.S. and foreign issuers, with no significant new product launches, partnerships, or expansions reported in the last two years beyond the aforementioned acquisition.