Ivy Funds NPX Annual report of proxy voting record

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-6569

IVY FUNDS, INC.

(Exact Name as Specified in Charter)

6300 Lamar Avenue, Overland Park, Kansas 66202-4200

(Address of Principal Executive Office) (Zip Code)

Kristen A. Richards, 6300 Lamar Avenue, Overland Park, Kansas 66202-4200

(Name and Address of Agent for Service)

Registrant's Telephone Number, including Area Code (913) 236-2000

Date of fiscal year end: March 31

Date of reporting period: July 1, 2005 to June 30, 2006

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (Sections 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to Section 30 of the Investment Company Act of 1940 and Rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.

IVY ASSET STRATEGY FUND

Proxy Voting Record



DELL INC.			DELL		Annual Meeting Date:
Issuer: 24702R101		ISIN:				07/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
SH1	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Against
SH2	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For



COMPANHIA VALE DO RIO DOCE			RIO		Special Meeting Date:
Issuer: 204412209		ISIN:				07/19/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

I	ARTICLES OF ASSOCIATION		Management	For	For
II	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For



THE J. M. SMUCKER COMPANY			SJM		Annual Meeting Date:
Issuer: 832696405		ISIN:				08/19/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		VINCENT C. BYRD	Management	For	For
		R. DOUGLAS COWAN	Management	For	For
		ELIZABETH VALK LONG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Against



YANZHOU COAL MNG CO LTD					EGM Meeting Date:
Issuer: Y97417102		ISIN: CN0009131243				08/19/2005
SEDOL: 6109893, B01XVK4, B07LWN2


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

1.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown



KEPPEL LAND LTD					EGM Meeting Date:
Issuer: V87778102		ISIN: SG1R31002210				10/06/2005
SEDOL: 6853468, B03NNP1


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

1.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
2.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown



CHECKFREE CORPORATION			CKFR		Annual Meeting Date:
Issuer: 162813109		ISIN:				11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management
		WILLIAM P. BOARDMAN	Management	Withheld	Against
		JAMES D. DIXON	Management	For	For



ARCHER-DANIELS-MIDLAND COMPANY			ADM		Annual Meeting Date:
Issuer: 039483102		ISIN:				11/03/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		G.A. ANDREAS	Management	For	For
		A.L. BOECKMANN	Management	For	For
		M.H. CARTER	Management	For	For
		R.S. JOSLIN	Management	For	For
		P.J. MOORE	Management	For	For
		M.B. MULRONEY	Management	For	For
		T.F. O'NEILL	Management	For	For
		O.G. WEBB	Management	For	For
		K.R. WESTBROOK	Management	For	For
02	S/H - REPORT ON GENETICALLY ENGINEERED FOOD PRODUCTS		Shareholder	Against	For



PETROCHINA CO LTD					EGM Meeting Date:
Issuer: Y6883Q104		ISIN: CN0009365379				11/08/2005
SEDOL: 5939507, 6226576, B01DNL9


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

1.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
2.	MANAGEMENT PROPOSAL		Management	Against	*Management Position Unknown
3.	MANAGEMENT PROPOSAL		Management	Against	*Management Position Unknown
4.	MANAGEMENT PROPOSAL		Management	Against	*Management Position Unknown
5.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
6.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
7.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
8.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
9.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
10.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
11.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
12.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
13.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
14.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
15.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
16.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown



MAXIM INTEGRATED PRODUCTS, INC.			MXIM		Annual Meeting Date:
Issuer: 57772K101		ISIN:				11/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JAMES BERGMAN	Management	For	For
		MICHAEL J. BYRD	Management	For	For
		PETER DE ROETTH	Management	For	For
		JOHN F. GIFFORD	Management	For	For
		B. KIPLING HAGOPIAN	Management	For	For
		A.R. FRANK WAZZAN	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	AMEND NON-EMPLOYEE DIRECTOR PLAN TO INCREASE SHARES		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



SMITHS GROUP PLC					AGM Meeting Date:
Issuer: G82401103		ISIN: GB0008182700				11/15/2005
SEDOL: 0818270, 5848056, B01DQZ4


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

1.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
2.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
3.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
4.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
5.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
6.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
7.	MANAGEMENT PROPOSAL		Management	Against	*Management Position Unknown
S.8	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
S.9	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
10.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown



BHP BILLITON LTD					AGM Meeting Date:
Issuer: Q1498M100		ISIN: AU000000BHP4				11/25/2005
SEDOL: 0144403, 0144414, 5709506, 6144690, 6144764, 6146760, B02KCV2


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

1.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
2.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
3.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
4.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
5.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
6.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
7.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
8.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
9.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
10.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
11.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
12.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
13.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
14.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
S.15	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
S.16	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
17.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
18.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
19.	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
S.20	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown
S.21	MANAGEMENT PROPOSAL		Management	For	*Management Position Unknown



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

6 Ivy Asset Strategy

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/30/06 - S	Burlington Resources Inc.		122014103			02/24/06	59,242
	1	Approve Merger Agreement		For	For		Mgmt
	2	Adjourn Meeting		For	For		Mgmt


03/16/06 - S	CHINA LIFE INSURANCE CO LTD		Y1477R204			02/14/06	4,231,000
	1	Elect Ma Yongwei as Director		For	For		Mgmt
	2	Elect Xia Zhihua as Supervisor		For	For		Mgmt
	3	Amend Articles Re: Board Composition		For	For		Mgmt


03/31/06 - S	Companhia Vale Do Rio Doce		204412209			03/15/06	234,962
		Meeting for Holders of ADRs
	1	TO APPROVE THE TERMS, CONDITIONS AND REASONS (THE PROTOCOLO E JUSTIFICACAO ) FOR THE MERGER OF ALL THE SHARES OF THE CAPITAL STOCK OF CAEMI - MINERACAO E METALURGIA S.A. (CAEMI)) INTO THE ASSETS OF CVRD IN ORDER TO CONVERT THE FORMER INTO A WHOLLY-OWNED		For	For		Mgmt
	2	TO RATIFY THE APPOINTMENT OF THE EXPERTS WHO PREPARED THE VALUE APPRAISAL OF THE PREFERRED SHARES ISSUED BY CAEMI TO BE MERGED INTO CVRD ASSETS.		For	For		Mgmt
	3	TO DECIDE ON THE APPRAISAL REPORT, PREPARED BY THE EXPERTS.		For	For		Mgmt
	4	TO APPROVE THE MERGER OF ALL OF THE SHARES ISSUED BY CAEMI INTO THE ASSETS OF THE CVRD.		For	For		Mgmt
	5	TO APPROVE CVRD CAPITAL INCREASE WITHIN THE ISSUANCE OF 64,151,361 PREFERRED CLASS A SHARES, TO BE PAID-IN WITH THE SHARES OF CAEMI TO BE MERGED INTO THE COMPANY S ASSETS, AND THE CONSEQUENT CHANGE OF THE CAPUT OF ARTICLE 5 OF THE CVRD S BY-LAWS.		For	For		Mgmt


02/28/06 - A	Headwaters Incorporated HW		42210P102			01/11/06	72,004
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


03/17/06 - A	Hyundai Heavy Industries		Y3838M106			12/31/05	30,150
	1	Approve Appropriation of Income and Dividend of KRW 1500 Per Share		For	For		Mgmt
	2	Amend Articles of Incorporation to Expand Business Objectives		For	For		Mgmt
	3	Elect Directors		For	For		Mgmt
	4	Elect Member of Audit Committee		For	For		Mgmt
	5	Approve Limit on Remuneration of Directors		For	For		Mgmt


01/26/06 - A	Jacobs Engineering Group Inc. JEC		469814107			12/20/05	32,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


02/17/06 - S	MMC Norilsk Nickel		46626D108			01/24/06	59,450
		Meeting for Holders of ADRs
	1	DECREASE IN THE MMC NORILSK NICKEL S CHARTER CAPITAL THROUGH THE REDEMPTION OF SHARES THAT WERE PURCHASED AND BOUGHT-BACK BY THE COMPANY.		For	For		Mgmt
	2	AMENDMENTS TO THE CHARTER OF MMC NORILSK NICKEL.		For	For		Mgmt
	3	AMENDMENTS TO THE REGULATIONS ON THE BOARD OF DIRECTORS OF MMC NORILSK NICKEL.		For	For		Mgmt


03/03/06 - S	MMC Norilsk Nickel		46626D108			02/16/06	66,260
		Meeting for Holders of ADRs
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Braiko Valery N. --- For
	1.2	Elect Director Ivanov Evgeniy I. --- For
	1.3	Elect Director Klishas Andrei A. --- For
	1.4	Elect Director K. Dmitry Ruslanovich --- For
	1.5	Elect Director Lord Gillford --- For
	1.6	Elect Director Morozov Denis S. --- For
	1.7	Elect Director P. Kirill Yuryevich --- For
	1.8	Elect Director Prokhorov Mikhail D. --- Against
	1.9	Elect Director Rodney B. Berens --- For
	1.10	Elect Director Rudakov Valery V. --- For
	1.11	Elect Director Salnikova Ekaterina M. --- Against
	2	TO ELECT IVANOV EVGENY IVANOVICH GENERAL DIRECTOR OF POLYUS GOLD, OJSC		For	For		Mgmt
	3	TO ELECT THE FOLLOWING MEMBER OF THE REVISION COMMISSION: AVSEEVA LIDIYA EDUARDOVNA CONSOLIDATED IFRS REPORTING		For	For		Mgmt
	4	TO ELECT THE FOLLOWING MEMBER OF THE REVISION COMMISSION: DONKIN LLYA VIKTOROVICH, BUDGET PLANNING AND CONTROL		For	For		Mgmt
	5	TO ELECT THE FOLLOWING MEMBER OF THE REVISION COMMISSION: ZATSEPIN MIKHAIL YURYEVICH, PROJECT EVALUATION AND MODELING		For	For		Mgmt
	6	TO ELECT THE FOLLOWING MEMBER OF THE REVISION COMMISSION: MAYOROV DMITRY ALEKSANDROVICH, LEADING SPECIALIST		For	For		Mgmt
	7	TO ELECT THE FOLLOWING MEMBER OF THE REVISION COMMISSION: SPIRIN SERGEY VLADIMIROVICH, FINANCIAL DIRECTOR		For	For		Mgmt
	8	TO APPROVE THE CHARTER OF POLYUS GOLD, OJSC AS PER ANNEX 1		For	For		Mgmt
	9	TO APPROVE THE REGULATIONS ON THE GENERAL MEETING OF SHAREHOLDERS OF POLYUS GOLD, OJSC AS PER ANNEX 2		For	For		Mgmt
	10	TO APPROVE THE REGULATIONS ON THE BOARD OF DIRECTORS OF POLYUS GOLD, OJSC AS PER ANNEX 3		For	For		Mgmt
	11	TO APPROVE ROSEXPERTIZA, LLC THE AUDITOR OF POLYUS GOLD, OJSC FOR THE YEAR 2006		For	For		Mgmt


03/30/06 - S	Nabors Industries, Ltd. NBR		G6359F103			02/17/06	45,393
		Meeting for Holders of ADRs
	1	Increase Authorized Common Stock		For	For		Mgmt


02/28/06 - A	Samsung Electronics Co. Ltd.		Y74718100			12/31/05	12,034
	1	Approve Financial Statements and Appropriation of Income, with a Final Dividend of KRW 5000 Per Common Share		For	For		Mgmt
	2	Elect Directors		For	For		Mgmt
	2.3	Elect Members of Audit Committee		For	For		Mgmt
	3	Approve Limit on Remuneration of Directors		For	For		Mgmt


01/27/06 - A	The Shaw Group Inc. SGR		820280105			12/01/05	22,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Approve Non-Employee Director Stock Option Plan		For	For		Mgmt
	5	Other Business		For	Against		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

6 Ivy Asset Strategy

Mtg	Company/				Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues			Security	Rec	Cast	Date	Prpnent	Voted


05/09/06 - A	3M CO MMM			88579Y101			03/10/06	16,942
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Declassify the Board of Directors			For	For		Mgmt
	4	Performance-Based			Against	Against		ShrHoldr
	5	Adopt Animal Welfare Policy			Against	Against		ShrHoldr
	6	Implement China Principles			Against	Against		ShrHoldr


05/01/06 - A	AFLAC Incorporated AFL			001055102			02/22/06	28,958
	1	Elect Directors			For	Split		Mgmt
	1.1	Elect Director Daniel P. Amos --- For
	1.2	Elect Director John Shelby Amos, II --- For
	1.3	Elect Director Michael H. Armacost --- Withhold
	1.4	Elect Director Kriss Cloninger, III --- For
	1.5	Elect Director Joe Frank Harris --- For
	1.6	Elect Director Elizabeth J. Hudson --- For
	1.7	Elect Director Kenneth S. Janke Sr. --- For
	1.8	Elect Director Douglas W. Johnson --- For
	1.9	Elect Director Robert B. Johnson --- For
	1.10	Elect Director Charles B. Knapp --- For
	1.11	Elect Director Hidefumi Matsui --- For
	1.12	Elect Director E. Stephen Purdom, M.D. --- For
	1.13	Elect Director Barbara K. Rimer, Dr. Ph --- For
	1.14	Elect Director Marvin R. Schuster --- For
	1.15	Elect Director David Gary Thompson --- For
	1.16	Elect Director Tohru Tonoike --- For
	1.17	Elect Director Robert L. Wright --- For
	2	Ratify Auditors			For	For		Mgmt


05/12/06 - A/S	Agnico-Eagle Mines Ltd. AEM.			008474108			03/27/06	93,057
	1	Elect Directors			For	For		Mgmt
	2	Approve Ernst & Young LLP as Auditors and Authorize Board to Fix Remuneration of Auditors			For	For		Mgmt
	3	Amend Stock Option Plan			For	For		Mgmt


06/12/06 - A	AIR CHINA LTD			Y002A6104			05/12/06	14,044,000
	1	Accept Report of the Board of Directors			For	For		Mgmt
	2	Accept Report of the Supervisory Committee			For	For		Mgmt
	3	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	4	Approve Profit Distribution Proposal			For	For		Mgmt
	5	Elect Christopher Dale Pratt as Non-Executive Director			For	For		Mgmt
	6	Reappoint Ernst & Young and Ernst & Young Hua Ming CPAs Ltd. Co. as International and Domestic Auditors Respectively, and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	7a	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights			For	Against		Mgmt
	7b	Authorize Board to Increase the Registered Capital of the Company			For	Against		Mgmt
	7c	Amend Articles Re: Scope of Business			For	For		Mgmt


06/22/06 - A	Aisin Seiki Co. Ltd. 7259			J00714105			03/31/06	25,300
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 13, Final JY 19, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Increase Number of Internal Auditors - Limit Legal Liability of Non-executive Directors and Statutory Auditors - Limit Rights of Odd-lot Holders - Update Terminology to Match that of New Corporate Law			For	Against		Mgmt
	3	Approve Executive Stock Option Plan			For	For		Mgmt
	4	Appoint Internal Statutory Auditor			For	For		Mgmt


05/17/06 - A	Alpha Natural Resources, Inc. ANR			02076X102			04/07/06	170,113
	1	Elect Directors			For	Split		Mgmt
	1.1	Elect Director E. Linn Draper, Jr. --- For
	1.2	Elect Director Glenn A. Eisenberg --- For
	1.3	Elect Director John W. Fox, Jr. --- For
	1.4	Elect Director Fritz R. Kundrun --- For
	1.5	Elect Director Hans J. Mende --- Withhold
	1.6	Elect Director Michael J. Quillen --- For
	1.7	Elect Director Ted G. Wood --- For
	2	Ratify Auditors			For	For		Mgmt


04/27/06 - A	Alumina Ltd (formerly Wmc Limited) AWC			Q0269M109			04/25/06	545,886
	1	Receive the Company's Financial Report and the Reports of the Directors and of the Auditor for the Year Ended Dec. 31, 2005			None	None		Mgmt
	2	Adopt the Remuneration Report for the Year Ended Dec. 31, 2005			For	For		Mgmt
	3	Elect Donald M Morley as Director			For	For		Mgmt


05/11/06 - A	Anadarko Petroleum Corp. APC			032511107			03/13/06	56,530
	1	Elect Directors			For	For		Mgmt
	2	Increase Authorized Common Stock			For	For		Mgmt
	3	Ratify Auditors			For	For		Mgmt


04/27/06 - A	Baker Hughes Incorporated BHI			057224107			03/01/06	104,058
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan			For	For		Mgmt
	4	Amend Vote Requirements to Amend Articles/Bylaws/Charter			Against	For		ShrHoldr


05/04/06 - A/S	Barrick Gold Corp. ABX.			067901108			03/16/06	232,728
		Meeting For Common and Exchangeable Shareholders
	1	Elect Directors			For	For		Mgmt
	2	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Remuneration of Auditors			For	For		Mgmt
	3	Approve Continuance and Arrangement of the Corporation			For	For		Mgmt


05/03/06 - A	Bucyrus International, Inc. BUCY			118759109			03/14/06	19,519
	1	Elect Directors			For	For		Mgmt
	2	Increase Authorized Common Stock			For	For		Mgmt
	3	Amend Omnibus Stock Plan			For	For		Mgmt
	4	Ratify Auditors			For	For		Mgmt


05/26/06 - A	Bunge Limited BG			G16962105			03/31/06	117,723
		Meeting for Holders of ADRs
	1	ELECT CLASS II DIRECTOR: FRANCIS COPPINGER			For	For		Mgmt
	2	ELECT CLASS II DIRECTOR: ALBERTO WEISSER			For	For		Mgmt
	3	Ratify Auditors			For	For		Mgmt
	4	TO APPROVE THE AMENDMENTS TO THE BYE-LAWS OF BUNGE LIMITED AS SET FORTH IN THE PROXY STATEMENT.			For	Against		Mgmt


05/04/06 - A/S	Cameco Corp. CCO.			13321L108			03/31/06	82,670
	1	Elect Directors			For	For		Mgmt
	2	Ratify KPMG LLP as Auditors			For	For		Mgmt
	3	Amend Stock Option Plan			For	For		Mgmt
	4	The Undersigned Holder of Record of Shares Declares that all Shares are Held, Beneficially owned or Controlled by One or More Canadian Residents (Residents mark the FOR Box; One or more Non-Residents mark the ABSTAIN box)			None	Abstain		Mgmt
	5	If you are unable to complete Item #4 then please complete this item. The Undersigned Holder of Shares Declares that the Undersigned is a Canadian Resident (Residents mark the FOR Box; Non-Residents mark the ABSTAIN Box)			None	Abstain		Mgmt


06/14/06 - A	Caterpillar Inc. CAT			149123101			04/17/06	141,407
	1	Elect Directors			For	For		Mgmt
	2	Increase Authorized Common Stock			For	For		Mgmt
	3	Approve Omnibus Stock Plan			For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan			For	For		Mgmt
	5	Ratify Auditors			For	For		Mgmt
	6	Declassify the Board of Directors			Against	For		ShrHoldr
	7	Separate Chairman and CEO Positions			Against	For		ShrHoldr
	8	Require a Majority Vote for the Election of Directors			Against	For		ShrHoldr


06/23/06 - A	Central Japan Railway Co. 9022			J05523105			03/31/06	220
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 3000, Final JY 3500, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Authorize Public Announcements in Electronic Format - Update Terminology to Match that of New Corporate Law			For	For		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Appoint Internal Statutory Auditor			For	For		Mgmt


04/26/06 - A	Chicago Mercantile Exchange Holdings, Inc. CME			167760107			03/01/06	23,966
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt


06/16/06 - A	CHINA LIFE INSURANCE CO LTD			Y1477R204			05/17/06	13,750,000
	1	Accept Report of the Board of Directors			For	For		Mgmt
	2	Accept Report of the Supervisory Committee			For	For		Mgmt
	3	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	4	Approve Final Dividend			For	For		Mgmt
	5a	Reelect Yang Chao as Director			For	For		Mgmt
	5b	Reelect Wu Yan as Directors			For	For		Mgmt
	5c	Reelect Shi Guoqing as Director			For	For		Mgmt
	5d	Reelect Long Yongtu as Director			For	For		Mgmt
	5e	Reelect Chau Tak Hay as Director			For	For		Mgmt
	5f	Reelect Sun Shuyi as Director			For	For		Mgmt
	5g	Reelect Cai Rang as Director			For	For		Mgmt
	5h	Reelect Ma Yongwei as Director			For	For		Mgmt
	5i	Elect Wan Feng as Director			For	For		Mgmt
	5j	Elect Zhuang Zuojin as Director			For	For		Mgmt
	6a	Reelect Xia Zhihua as Supervisor			For	For		Mgmt
	6b	Reelect Wu Weimin as Supervisor			For	For		Mgmt
	6c	Reelect Tian Hui as Supervisor			For	For		Mgmt
	7	Authorize Board to Fix the Remuneration of Directors and Supervisors			For	For		Mgmt
	8	Reappoint PricewaterhouseCoopers Zhong Tian CPAs Co. Ltd., CPAs and PricewaterhouseCoopers, CPAs as PRC and International Auditors, Respectively, and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	9	Amend Articles of Association			For	For		Mgmt
	10	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights			For	Against		Mgmt


05/18/06 - A	China Mobile (Hong Kong) Limited			Y14965100			05/15/06	2,214,000
	1	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	2	Approve Final Dividend of HK$ 0.57 Per Share			For	For		Mgmt
	3a	Reelect Lu Xiangdong as Director			For	For		Mgmt
	3b	Reelect Xue Taohai as Director			For	For		Mgmt
	3c	Reelect Sha Yuejia as Director			For	For		Mgmt
	3d	Reelect Liu Aili as Director			For	For		Mgmt
	3e	Reelect Xin Fanfei as Director			For	For		Mgmt
	3f	Reelect Xu Long as Director			For	For		Mgmt
	3g	Reelect Lo Ka Shui as Director			For	For		Mgmt
	3h	Reelect Moses Cheng Mo Chi as Director			For	For		Mgmt
	4	Reappoint KPMG as Auditors and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	5	Authorize Repurchase of Up to 10 Percent of Issued Share Capital			For	For		Mgmt
	6	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights			For	Against		Mgmt
	7	Authorize Reissuance of Repurchased Shares			For	For		Mgmt
	8	Change Company Name from China Mobile (Hong Kong) Limited to China Mobile Limited			For	For		Mgmt


05/24/06 - A	China Petroleum & Chemical Corp.			Y15010104			04/24/06	13,046,000
	1	Accept the Report of the Board of Directors			For	For		Mgmt
	2	Accept the Report of the Supervisory Committee			For	For		Mgmt
	3	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	4	Approve Profit Appropriation and Final Dividend			For	For		Mgmt
	5	Approve PRC and International Auditors and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	6a	Elect Chen Tonghai as Director			For	For		Mgmt
	6b	Elect Zhou Yuan as Director			For	For		Mgmt
	6c	Elect Wang Tianpu as Director			For	For		Mgmt
	6d	Elect Zhang Jianhua as Director			For	For		Mgmt
	6e	Elect Wang Zhigang as Director			For	For		Mgmt
	6f	Elect Dai Houliang as Director			For	For		Mgmt
	6g	Elect Fan Yifei as Director			For	For		Mgmt
	6h	Elect Yao Zhongmin as Director			For	For		Mgmt
	6i	Elect Shi Wanpeng as Independent Non-Executive Director			For	For		Mgmt
	6j	Elect Liu Zhongli as Independent Non-Executive Director			For	For		Mgmt
	6k	Elect Li Deshui as Independent Non-Executive Director			For	For		Mgmt
	7a	Elect Wang Zuoran as Supervisor			For	For		Mgmt
	7b	Elect Zhang Youcai as Supervisor			For	For		Mgmt
	7c	Elect Kang Xianzhang as Supervisor			For	For		Mgmt
	7d	Elect Zou Huiping as Supervisor			For	For		Mgmt
	7e	Elect Li Yonggui as Supervisor			For	For		Mgmt
	8	Approve the Service Contracts Between Sinopec Corp. and Directors and Supervisors			For	For		Mgmt
	9	Approve Connected Transactions and Annual Caps			For	Against		Mgmt
	10	Authorize Issue of Commercial Paper with a Maximum Amount Not Exceeding 10 Percent of the Latest Audited Amount of the Net Assets			For	For		Mgmt
	11	Amend Articles of Association			For	For		Mgmt


05/12/06 - A	CHINA SHENHUA ENERGY CO LTD			Y1504C113			04/11/06	2,765,000
	1	Accept Report of the Board of Directors			For	For		Mgmt
	2	Accept Report of the Supervisory Committee			For	For		Mgmt
	3	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	4	Approve Allocation of Income and Final Dividend of RMB 0.125 Per Share			For	For		Mgmt
	5	Approve Remuneration of Directors and Supervisors			For	For		Mgmt
	6	Approve Status List of the Initial Long Term Incentives Plan and Share Appreciation Rights Scheme			For	Against		Mgmt
	7	Reappoint KPMG Huazhen and KPMG as PRC and International Auditors, Respectively, and Authorize Committee Comprising Chen Biting, Wu Yuan, and Ling Wen to Fix Their Remuneration			For	For		Mgmt
	8	Approve Revised Annual Caps of Connected Transactions			For	For		Mgmt
		Special Business
	1	Amend Articles Re: Reflect Relevant Laws and Reulations of the Company Law and the Securities Law of the PRC			For	For		Mgmt
	2	Amend Rules Governing the Proceedings of Shareholders Meetings, Directors Meetings, and for the Board of Supervisors; and Procedures for Considering Connected Transactions			For	For		Mgmt
	3	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights			For	Against		Mgmt


04/27/06 - S	Companhia Vale Do Rio Doce			204412209			04/11/06	331,450
		Meeting for Holders of ADRs
	1	APPRECIATION OF THE MANAGEMENTS REPORT AND ANALYSIS, DISCUSSION AND VOTE ON THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2005			For	For		Mgmt
	2	PROPOSAL FOR THE DESTINATION OF PROFITS OF THE SAID FISCAL YEAR AND APPROVAL OF THE INVESTMENT BUDGET FOR THE COMPANY, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT			For	For		Mgmt
	3	APPOINTMENT OF THE MEMBERS OF THE FISCAL COUNCIL			For	For		Mgmt
	4	ESTABLISHMENT OF THE REMUNERATION OF THE SENIOR MANAGEMENT AND FISCAL COUNCIL MEMBERS			For	For		Mgmt
	5	PROPOSAL FOR A FORWARD SPLIT, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT			For	For		Mgmt
	6	PROPOSAL TO MODIFY THE COMPANY S BY-LAWS, RELATED TO SECTION II AND SUBSECTION IV OF CHAPTER IV, IN RELATION TO THE ADVISORY COMMITTEES, IN THE FOLLOWING TERMS: A) CHANGE OF THE HEADING OF ARTICLE 15; B) AMENDMENT TO ARTICLE 16; C) ADD ITEM IV TO ARTICLE			For	For		Mgmt
	7	CONSOLIDATION OF THE AMENDMENTS TO CVRD S BY-LAWS, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT			For	For		Mgmt


04/27/06 - A	Corning Inc. GLW			219350105			02/27/06	32,464
	1	Elect Directors			For	Split		Mgmt
	1.1	Elect Director James B. Flaws --- For
	1.2	Elect Director James R. Houghton --- Withhold
	1.3	Elect Director James J. O'Connor --- For
	1.4	Elect Director Deborah D. Rieman --- For
	1.5	Elect Director Peter F. Volanakis --- For
	1.6	Elect Director Padmasree Warrior --- For
	2	Amend Qualified Employee Stock Purchase Plan			For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan			For	For		Mgmt
	4	Approve Non-Employee Director Omnibus Stock Plan			For	For		Mgmt
	5	Ratify Auditors			For	For		Mgmt
	6	Declassify the Board of Directors			Against	For		ShrHoldr


06/29/06 - A	Dentsu Inc. 4324			J1207N108			03/31/06	1,443
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 1000, Final JY 1500, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Amend Business Lines - Update Terminology to Match that of New Corporate Law - Limit Liability of Statutory Auditors			For	Against		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Appoint Internal Statutory Auditor			For	For		Mgmt
	5	Approve Retirement Bonuses for Directors and Statutory Auditor			For	Against		Mgmt


05/18/06 - A	Euronet Worldwide Inc. EEFT			298736109			03/30/06	200,221
	1	Elect Directors			For	For		Mgmt
	2	Increase Authorized Common Stock			For	For		Mgmt
	3	Approve Omnibus Stock Plan			For	Against		Mgmt
	4	Approve Executive Incentive Bonus Plan			For	For		Mgmt
	5	Ratify Auditors			For	For		Mgmt


05/03/06 - A	Fluor Corp. FLR			343412102			03/08/06	97,586
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Performance-Based			Against	Against		ShrHoldr


05/18/06 - A	Foundation Coal Hldgs Inc FCL			35039W100			03/30/06	55,016
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Amend Articles/Bylaws			For	For		Mgmt
	4	Other Business			For	Against		Mgmt


05/04/06 - A	Freeport-McMoRan Copper & Gold Inc. FCX			35671D857			03/07/06	46,634
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Approve Omnibus Stock Plan			For	Against		Mgmt
	4	Review Payment Policy to Indonesian Military			Against	Against		ShrHoldr


04/20/06 - A	Genentech, Inc. DNA			368710406			02/22/06	20,492
	1	Elect Directors			For	For		Mgmt
	2	Amend Qualified Employee Stock Purchase Plan			For	For		Mgmt
	3	Ratify Auditors			For	For		Mgmt


04/26/06 - A	General Electric Co. GE			369604103			02/27/06	268,407
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Restore or Provide for Cumulative Voting			Against	Against		ShrHoldr
	4	Adopt Policy on Overboarded Directors			Against	Against		ShrHoldr
	5	Company-Specific -- One Director from the Ranks of the Retirees			Against	Against		ShrHoldr
	6	Separate Chairman and CEO Positions			Against	For		ShrHoldr
	7	Require a Majority Vote for the Election of Directors			Against	For		ShrHoldr
	8	Report on Environmental Policies			Against	Against		ShrHoldr


05/10/06 - A	Gilead Sciences, Inc. GILD			375558103			03/22/06	209,122
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Amend Omnibus Stock Plan			For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan			For	For		Mgmt
	5	Increase Authorized Common Stock			For	For		Mgmt
	6	Report on Impact of HIV/AIDS, TB, and Malaria Pandemics			Against	Against		ShrHoldr


05/11/06 - A	Google Inc GOOG			38259P508			03/17/06	21,619
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Amend Omnibus Stock Plan			For	For		Mgmt
	4	Company-Specific-Recapitalization Plan			Against	For		ShrHoldr


06/14/06 - A	Hongkong Land Holdings Ltd.			G4587L109			None	1,012,000
	1	Adopt Financial Statements and Auditors' Reports and Approve Final Dividend			For	For		Mgmt
	2a	Reelect R C Kwok as Director			For	For		Mgmt
	2b	Reelect A J L Nightingale as Director			For	For		Mgmt
	2c	Reelect Percy Weatherall as Director			For	For		Mgmt
	3	Approve Directors' Fees			For	For		Mgmt
	4	Reappoint Auditors and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	5	Approve Issuance of Shares without Preemptive Rights			For	For		Mgmt
	6	Authorize Share Repurchase Program			For	For		Mgmt


05/18/06 - A	Hutchison Whampoa Limited			Y38024108			05/10/06	541,000
	1	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	2	Approve Final Dividend			For	For		Mgmt
	3a	Elect CHOW WOO Mo Fong, Susan as Director			For	For		Mgmt
	3b	Elect LAI Kai Ming, Dominic as Director			For	For		Mgmt
	3c	Elect Simon MURRAY as Director			For	For		Mgmt
	3d	Elect OR Ching Fai, Raymond as Director			For	For		Mgmt
	3e	Elect William SHURNIAK as Director			For	For		Mgmt
	4	Approve Auditors and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	5a	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights			For	Against		Mgmt
	5b	Authorize Repurchase of Up to 10 Percent of Issued Share Capital			For	For		Mgmt
	5c	Authorize Reissuance of Repurchased Shares			For	For		Mgmt
	5d	Approve Share Option Scheme of Hutchison China MediTech Limited			For	For		Mgmt


04/20/06 - A	Inco Limited N.			453258402			03/06/06	119,781
	1	Elect Directors			For	Split		Mgmt
	1.1	Elect Director Glen A. Barton --- For
	1.2	Elect Director Angus A. Bruneau --- Withhold
	1.3	Elect Director Ronald C. Cambre --- For
	1.4	Elect Director Scott M. Hand --- For
	1.5	Elect Director Janice K. Henry --- For
	1.6	Elect Director Chaviva M. Hosek --- For
	1.7	Elect Director Peter C. Jones --- For
	1.8	Elect Director John T. Mayberry --- For
	1.9	Elect Director Francis Mer --- Withhold
	1.10	Elect Director David P. O'Brien --- For
	1.11	Elect Director Roger Phillips --- For
	1.12	Elect Director Richard E. Waugh --- For
	2	Ratify PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Remuneration of Auditors			For	For		Mgmt


04/11/06 - S	Keppel Land Ltd. (formerly Straits Steamship Land)			V87778102			None	979,000
	1	Approve Distribution in Specie of Up to 144.4 Million Units in K-REIT Asia (Units) on the Basis of One Unit for Every Five Shares in the Company			For	For		Mgmt
	2	Approve Trust Deed, Put and Call Option Agreements, Property Management Agreement, Bridging Loan Agreement, and Leasing of Office Premises			For	For		Mgmt


04/28/06 - A	Keppel Land Ltd. (formerly Straits Steamship Land)			V87778102			None	979,000
	1	Adopt Financial Statements and Directors' and Auditors' Reports			For	For		Mgmt
	2	Declare First and Final Dividend of SGD 0.05 Per Share			For	For		Mgmt
	3	Reelect Lee Ai Ming as Director			For	For		Mgmt
	4	Reelect Choo Chiau Beng as Director			For	For		Mgmt
	5	Reelect Teo Soon Hoe as Director			For	For		Mgmt
	6	Approve Directors' Fees of SGD 610,000 (2004: SGD 573,000)			For	For		Mgmt
	7	Reappoint Ernst & Young as Auditors and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	8	Approve Issuance of Shares without Preemptive Rights			For	For		Mgmt


04/28/06 - S	Keppel Land Ltd. (formerly Straits Steamship Land)			V87778102			None	979,000
	1	Amend Memorandum and Articles of Association			For	For		Mgmt
	2	Authorize Share Repurchase Program			For	For		Mgmt
	3	Approve Mandate for Transactions with Related Parties			For	For		Mgmt


06/07/06 - A	LAS VEGAS SANDS CORP LVS			517834107			04/14/06	94,827
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt


05/26/06 - A	Lawson, Inc. 2651			J3871L103			02/28/06	56,300
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 45, Final JY 45, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Expand Business Lines - Limit Outside Statutory Auditors' Legal Liability - Authorize Public Announcements in Electronic Format			For	For		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Appoint Internal Statutory Auditor			For	Against		Mgmt
	5	Approve Stock Option Plan And Deep Discount Stock Option Plan for Directors			For	For		Mgmt
	6	Approve Retirement Bonus for Statutory Auditor			For	For		Mgmt


06/27/06 - A	Mitsubishi Corp. 8058			J43830116			03/31/06	82,600
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 13, Final JY 22, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Authorize Public Announcements in Electronic Format - Limit Rights of Odd-lot Holders - Update Terminology to Match that of New Corporate Law - Limit Liability of Outside Statutory Auditors			For	Against		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Approve Stock Option Plan and Deep Discount Stock Option Plan for Directors			For	For		Mgmt
	5	Approve Retirement Bonus for Director			For	For		Mgmt
	6	Approve Adjustment to Aggregate Compensation Ceiling for Directors and Statutory Auditors			For	For		Mgmt


06/29/06 - A	Mitsubishi UFJ Financial Group 8306			J44497105			03/31/06	810
	1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 3000, Final JY 4000, Special JY 0			For	For		Mgmt
	2	Approve Reduction in Legal Reserves			For	For		Mgmt
	3	Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Share Repurchase - Update Terminology to Match that of New Corporate Law - Limit Liability of Directors and Statutory Auditors			For	Against		Mgmt
	4	Elect Directors			For	For		Mgmt
	5	Approve Retirement Bonuses for Directors and Statutory Auditors			For	Against		Mgmt


06/23/06 - A	Mitsui & Co. 8031			J44690139			03/31/06	263,000
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 10, Final JY 14, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Limit Outside Statutory Auditors' Legal Liability - Update Terminology to Match that of New Corporate Law			For	Against		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Appoint Internal Statutory Auditor			For	For		Mgmt


06/30/06 - A	Nabors Industries, Ltd. NBR			G6359F103			04/07/06	78,179
		Meeting for Holders of ADRs
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	MANAGEMENT PROPOSAL: APPROVAL OF THE COMPANY S AMENDED AND RESTATED 2003 EMPLOYEE STOCK PLAN.			For	For		Mgmt


04/25/06 - A	Newmont Mining Corp. (Holding Company) NEM			651639106			03/01/06	137,382
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Provide for an Independent Chairman			Against	For		ShrHoldr


06/23/06 - A	NOMURA RESEARCH INSTITUTE 4307			J5900F106			03/31/06	17,800
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 50, Final JY 90, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Decrease Maximum Board Size - Limit Rights of Odd-lot Holders - Limit Liability of Non-executive Directors and Statutory Auditors - Authorize Board to Determine Income Allocation			For	Against		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Appoint Internal Statutory Auditor			For	For		Mgmt
	5	Approve Stock Option Plan and Deep Discount Stock Option Plan for Directors			For	Against		Mgmt


05/05/06 - A	Peabody Energy Corp. BTU			704549104			03/15/06	131,206
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Increase Authorized Common Stock			For	For		Mgmt
	4	Establish Other Board Committee			Against	Against		ShrHoldr
	5	Require a Majority Vote for the Election of Directors			Against	For		ShrHoldr
	6	Declassify the Board of Directors			Against	For		ShrHoldr
	7	Report on Water Pollution Policy			Against	Against		ShrHoldr


05/26/06 - A	Petrochina Company Limited			Y6883Q104			04/25/06	5,884,000
	1	Accept Report of the Board of Directors			For	For		Mgmt
	2	Accept Report of the Supervisory Committee			For	For		Mgmt
	3	Accept Financial Statements and Statutory Reports			For	For		Mgmt
	4	Approve Final Dividend			For	For		Mgmt
	5	Authorize Board to Distribute Interim Dividend			For	For		Mgmt
	6	Reappoint PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian CPAs Company Limited as International and Domestic Auditors Respectively and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	7	Reelect Zheng Hu as Director			For	For		Mgmt
	8	Reelect Franco Bernabe as Independent Non-Executive Director			For	For		Mgmt
	9	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights			For	Against		Mgmt
	10	Other Business			For	Against		Mgmt


05/26/06 - A	Phelps Dodge Corp. PD			717265102			04/06/06	102,661
	1	Elect Directors			For	For		Mgmt
	2	Approve Non-Employee Director Stock Option Plan			For	For		Mgmt
	3	Ratify Auditors			For	For		Mgmt


05/30/06 - A	PT Bank Rakyat Indonesia (Persero) Tbk			Y0697U104			05/12/06	5,940,500
	1	Accept Directors' Report			For	For		Mgmt
	2	Approve Allocation of Income and Dividends of IDR 153			For	For		Mgmt
	3	Approve Prasetio Sarwoko & Sandjaja as Auditors and Authorize Board to Fix Their Remuneration			For	For		Mgmt
	4	Approve Remuneration of Directors and Commissioners			For	For		Mgmt
	5	Determine Implementation of Ministry of States Companies Regulation on Appointment of Directors and Commissioners in State-Owned Companies			For	For		Mgmt
	6	Elect Syariah Board of Directors			For	For		Mgmt
	7	Approve Write-off of Non-Performing Loans			For	Against		Mgmt
	8	Approve Report on Management Stock Option Plan			For	Against		Mgmt
	9	Elect Directors and Commissioners			For	For		Mgmt


04/12/06 - A	Rio Tinto Plc (Formerly Rtz Corp. Plc)			G75754104			None	257,810
		Only Rio Tinto Plc Shareholders are Entitled to Vote on Resolutions 1,2,and 3
	1	Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 34,860,000			For	Against		Mgmt
	2	Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 6,750,000			For	For		Mgmt
	3	Authorise 106,500,000 RTP Ordinary Shares for Market Purchase			For	For		Mgmt
		Resolution 4 Requires a Separate Special Resolution of the Public Shareholders of Rio Tinto Plc and Rio Tinto Limited
	4	Adopt New Articles of Association of Rio Tinto Plc and Amendments to Constitution of Rio Tinto Limited			For	For		Mgmt
		Resolutions 5-13 will be Dealt under the Joint Electoral Procedure of Rio Tinto Plc and Rio Tinto Limited
	5	Elect Tom Albanese as Director			For	For		Mgmt
	6	Elect Sir Rod Eddington as Director			For	For		Mgmt
	7	Re-elect Sir David Clementi as Director			For	For		Mgmt
	8	Re-elect Leigh Clifford as Director			For	For		Mgmt
	9	Re-elect Andrew Gould as Director			For	For		Mgmt
	10	Re-elect David Mayhew as Director			For	For		Mgmt
	11	Reappoint PricewaterhouseCoopers LLP as Auditors and Authorise the Board to Determine Their Remuneration			For	For		Mgmt
	12	Approve Remuneration Report			For	For		Mgmt
	13	Accept Financial Statements and Statutory Reports			For	For		Mgmt


04/12/06 - A	Schlumberger Ltd. SLB			806857108			03/01/06	116,796
		Meeting for Holders of ADRs
	1	Elect Directors			For	For		Mgmt
	2	ADOPTION AND APPROVAL OF FINANCIALS AND DIVIDENDS			For	For		Mgmt
	3	ADOPTION OF AMENDMENT TO THE ARTICLES OF INCORPORATION			For	For		Mgmt
	4	APPROVAL OF AMENDMENT AND RESTATEMENT OF THE SCHLUMBERGER 2005 STOCK OPTION PLAN			For	For		Mgmt
	5	APPROVAL OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM			For	For		Mgmt


06/29/06 - A	Shimizu Corp. 1803			J72445117			03/31/06	293,000
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 3.5, Final JY 3.5, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Expand Business Lines - Limit Rights of Odd-lot Holders - Update Terminology to Match that of New Corporate Law - Limit Liability of Non-Executive Statutory Auditors			For	Against		Mgmt
	3.1	Appoint Internal Statutory Auditor			For	For		Mgmt
	3.2	Appoint Internal Statutory Auditor			For	For		Mgmt
	3.3	Appoint Internal Statutory Auditor			For	For		Mgmt
	4	Approve Retirement Bonuses for Director and Statutory Auditors and Special Payments to Continuing Directors and Statuory Auditors in Connection with Abolition of Retirement Bonus System			For	Against		Mgmt


05/18/06 - A	SLM Corp. SLM			78442P106			03/20/06	38,828
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt


06/29/06 - A	SMC Corp. 6273			J75734103			03/31/06	23,700
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 50, Final JY 19, Special JY 31			For	For		Mgmt
	2	Amend Articles to: Limit Rights of Odd-lot Holders - Update Terminology to Match that of New Corporate Law			For	For		Mgmt
	3	Elect Directors			For	For		Mgmt
	4	Approve Retirement Bonuses for Directors			For	For		Mgmt


06/29/06 - A	SUMITOMO MITSUI FINANCIAL GROUP INC. 8316			J7771X109			03/31/06	770
	1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 3000, Special JY 0			For	For		Mgmt
	2	Approve Reduction in Legal Reserves			For	For		Mgmt
	3	Authorize Share Repurchase Program for Ordinary and Preferred Shares			For	For		Mgmt
	4	Amend Articles to: Decrease Authorized Preferred Share Capital - Limit Liability of Non-Executive Directors and Statutory Auditors - Update Terminology to Match That of New Corporate Law			For	Against		Mgmt
	5	Elect Directors			For	For		Mgmt
	6	Appoint Internal Statutory Auditor			For	Against		Mgmt
	7	Approve Retirement Bonuses for Director and Statutory Auditor			For	For		Mgmt


06/29/06 - A	Sumitomo Realty & Development Co. Ltd. 8830			J77841112			03/31/06	100,000
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 5, Final JY 5, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Authorize Public Announcements in Electronic Format - Limit Rights of Odd-lot Holders - Update Terminology to Match that of New Corporate Law - Limit Legal Liability of Directors and Statutory Auditors			For	Against		Mgmt
	3	Appoint Internal Statutory Auditor			For	Against		Mgmt


06/09/06 - A	TAISHIN FINANCIAL HOLDINGS CO LTD			Y84086100			04/10/06	4,471,000
	1	Accept 2005 Operating Results and Financial Statements			For	For		Mgmt
	2	Approve Compensation of the Accumulated Losses of the Company			For	For		Mgmt
	3	Approve Release of Restrictions of Competitive Activities of Directors			For	For		Mgmt
	4	Amend Articles of Association			For	For		Mgmt
	5	Amend Election Rules of Directors and Supervisors			For	For		Mgmt
	6	Elect Weijian Shan, a Representative of Taishin Co-Investor Holdings I Ltd., as New Director with ID No. 323343			For	For		Mgmt
	7	Other Business			None	None		Mgmt


05/01/06 - A	The Boeing Co. BA			097023105			03/03/06	138,088
	1	Elect Directors			For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan			For	For		Mgmt
	3	Amend Omnibus Stock Plan			For	For		Mgmt
	4	Reduce Supermajority Vote Requirement			For	For		Mgmt
	5	Ratify Auditors			For	For		Mgmt
	6	Develop a Human Rights Policy			Against	Against		ShrHoldr
	7	Develop Ethical Criteria for Military Contracts			Against	Against		ShrHoldr
	8	Report on Charitable Contributions			Against	Against		ShrHoldr
	9	Require a Majority Vote for the Election of Directors			Against	For		ShrHoldr
	10	Separate Chairman and CEO Positions			Against	For		ShrHoldr


06/23/06 - A	Toyota Motor Corp. 7203			J92676113			03/31/06	209,300
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 35, Final JY 55, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Update Terminology to Match that of New Corporate Law - Limit Liability of Non-Executive Statutory Auditors			For	Against		Mgmt
	3	Elect Directors			For	For		Mgmt
	4.1	Appoint Internal Statutory Auditor			For	For		Mgmt
	4.2	Appoint Internal Statutory Auditor			For	For		Mgmt
	4.3	Appoint Internal Statutory Auditor			For	For		Mgmt
	5	Approve Executive Stock Option Plan			For	For		Mgmt
	6	Authorize Share Repurchase Program			For	For		Mgmt
	7	Approve Retirement Bonuses for Statutory Auditors and Special Payments to Continuing Directors in Connection with Abolition of Retirement Bonus System			For	For		Mgmt
	8	Approve Increase in Aggregate Compensation Ceiling for Directors			For	For		Mgmt


05/11/06 - A	Transocean Inc. RIG			G90078109			03/20/06	102,828
		Meeting for Holders of ADRs
	1	Elect Directors			For	For		Mgmt
	2	APPROVAL OF THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006.			For	For		Mgmt


05/04/06 - A	Union Pacific Corp. UNP			907818108			02/23/06	44,260
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors			Against	For		ShrHoldr
	4	Report on Political Contributions			Against	Against		ShrHoldr
	5	Provide for an Independent Chairman			Against	Against		ShrHoldr


05/04/06 - A	United Parcel Service, Inc. UPS			911312106			03/09/06	64,300
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt


04/12/06 - A	United Technologies Corp. UTX			913017109			02/14/06	40,123
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	Increase Authorized Common Stock			For	For		Mgmt
	4	Establish Term Limits for Directors			Against	Against		ShrHoldr
	5	Report on Foreign Sales of Military Products			Against	Against		ShrHoldr


06/29/06 - A	Ushio Inc. 6925			J94456118			03/31/06	124,800
	1	Approve Allocation of Income, Including the Following Dividends: Interim JY 0, Final JY 20, Special JY 0			For	For		Mgmt
	2	Amend Articles to: Decrease Maximum Board Size - Authorize Public Announcements in Electronic Format - Limit Rights of Odd-lot Holders - Update Terminology to Match that of New Corporate Law			For	For		Mgmt
	3	Appoint Internal Statutory Auditor			For	For		Mgmt


05/11/06 - A/S	Veolia Environnement (Formerly Vivendi Environment)			F9686M107			None	243,452
		Ordinary Business
	1	Approve Financial Statements and Statutory Reports			For			Mgmt
	2	Accept Consolidated Financial Statements and Statutory Reports			For			Mgmt
	3	Approve Expenses and Charges			For			Mgmt
	4	Approve Allocation of Income and Dividends of EUR 0.85 per Share			For			Mgmt
	5	Approve Standard Accounting Transfer from Special Long-Term Capital Gains Reserve Account to Ordinary Reserve Account			For			Mgmt
	6	Approve Special Auditors' Report Regarding Related-Party Transactions			For			Mgmt
	7	Approve Transaction with a Related Party Re: Change or End of Functions of a Corporate Officer			For			Mgmt
	8	Reelect Daniel Bouton as Director			For			Mgmt
	9	Elect Jean-Francois Dehecq as Director			For			Mgmt
	10	Reelect Jean-Marc Espalioux as Director			For			Mgmt
	11	Reelect Paul Louis Girardot as Director			For			Mgmt
	12	Reelect Serge Michel as Director			For			Mgmt
	13	Reelect Georges Ralli as Director			For			Mgmt
	14	Reelect Murray Stuart as Director			For			Mgmt
	15	Approve Remuneration of Directors in the Aggregate Amount of EUR 770,000			For			Mgmt
	16	Authorize Repurchase of Up to Ten Percent of Issued Share Capital			For			Mgmt
		Special Business
	17	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Billion			For			Mgmt
	18	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 400 Million			For			Mgmt
	19	Authorize Capitalization of Reserves of Up to EUR 370 Million for Bonus Issue or Increase in Par Value			For			Mgmt
	20	Authorize Board to Increase Capital with Preemptive Rights in the Event of Additional Demand Related to Delegations Submitted to Shareholder Vote Above			For			Mgmt
	21	Authorize Board to Increase Capital without Preemptive Rights in the Event of Additional Demand Related to Delegations Submitted to Shareholder Vote Above			For			Mgmt
	22	Authorize Capital Increase of up to 10 Percent of Issued Capital for Future Acquisitions			For			Mgmt
	23	Approve Employee Savings-Related Share Purchase Plan			For			Mgmt
	24	Approve Stock Option Plans Grants			For			Mgmt
	25	Authorize up to 0.5 Percent of Issued Capital for Use in Restricted Stock Plan			For			Mgmt
	26	Approve Reduction in Share Capital via Cancellation of Repurchased Shares			For			Mgmt
		Ordinary and Special Business
	27	Authorize Filling of Required Documents/Other Formalities			For			Mgmt
			Not voted due to shareblocking restriction. The potential impact on trading/loan share activities would outweigh the economic value of the vote.


05/09/06 - A	Weatherford International Ltd WFT			G95089101			03/10/06	159,862
		Meeting for Holders of ADRs
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt
	3	APPROVAL OF THE WEATHERFORD INTERNATIONAL LTD. 2006 OMNIBUS INCENTIVE PLAN.			For	For		Mgmt
	4	APPROVAL OF AN INCREASE IN THE COMPANY S AUTHORIZED SHARE CAPITAL FROM $510,000,000, CONSISTING OF 500,000,000 COMMON SHARES AND 10,000,000 PREFERENCE SHARES, TO $1,010,000,000, BY THE CREATION OF 500,000,000 ADDITIONAL COMMON SHARES.			For	For		Mgmt


05/11/06 - A	Yara International ASA			R9900C106			None	224,639
	1	Elect Chairman of Meeting; Designate Inspector or Shareholder Representative(s) of Minutes of Meeting			For			Mgmt
	2	Approve Financial Statements and Statutory Reports; Approve Allocation of Income and Dividends of NOK 2.35 per Share			For			Mgmt
	3	Receive Information on Remuneration Policy And Other Terms of Employment For Executive Management			None			Mgmt
	4	Elect Oeivind Lund, Lone Schroeder, Leiv Nergaard, Joergen Haslestad, and Elisabeth Harstad as Directors			For			Mgmt
	5	Approve Remuneration of Auditors			For			Mgmt
	6	Approve Remuneration of Directors in the Amount of NOK 375,000 for Chairman and NOK 215,000 for Other Board Members			For			Mgmt
	7	Elect Olav Hytta, Reier Soeberg, Eva Lystad, and Bjoerg Ven as Members of Nominating Committee			For			Mgmt
	8	Approve NOK 20 Million Reduction in Share Capital via Cancellation of 7.5 Million Repurchased Shares and Redemption of 4.3 Million Shares Held by Norwegian State			For			Mgmt
	9	Authorize Repurchase of Up to Five Percent of Issued Share Capital			For			Mgmt
			Not voted due to shareblocking restriction. The potential impact on trading/loan share activities would outweigh the economic value of the vote.

IVY CAPITAL APPRECIATION FUND

Proxy Voting Record



THE PROCTER & GAMBLE COMPANY			PG		Special Meeting Date:
Issuer: 742718109		ISIN:				07/12/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	APPROVE MERGER AGREEMENT		Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For



DELL INC.			DELL		Annual Meeting Date:
Issuer: 24702R101		ISIN:				07/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
SH1	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Against
SH2	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For



RESEARCH IN MOTION LIMITED			RIMM		Annual Meeting Date:
Issuer: 760975102		ISIN:				07/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For



TEVA PHARMACEUTICAL INDUSTRIES LIMIT			TEVA		Annual Meeting Date:
Issuer: 881624209		ISIN:				07/27/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	CHANGE STOCK EXCHANGE LISTING		Management	For	For
02	CHANGE STOCK EXCHANGE LISTING		Management	For	For
03	CHANGE STOCK EXCHANGE LISTING		Management	For	For
4A	CHANGE STOCK EXCHANGE LISTING		Management	For	For
4B	CHANGE STOCK EXCHANGE LISTING		Management	For	For
4C	CHANGE STOCK EXCHANGE LISTING		Management	For	For
4D	CHANGE STOCK EXCHANGE LISTING		Management	For	For
05	CHANGE STOCK EXCHANGE LISTING		Management	Against	Against
06	CHANGE STOCK EXCHANGE LISTING		Management	Against	Against
07	CHANGE STOCK EXCHANGE LISTING		Management	For	For
08	CHANGE STOCK EXCHANGE LISTING		Management	For	For
09	CHANGE STOCK EXCHANGE LISTING		Management	For	For



ORACLE CORPORATION			ORCL		Annual Meeting Date:
Issuer: 68389X105		ISIN:				10/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JEFFREY O. HENLEY	Management	For	For
		LAWRENCE J. ELLISON	Management	For	For
		DONALD L. LUCAS	Management	For	For
		MICHAEL J. BOSKIN	Management	For	For
		JACK F. KEMP	Management	For	For
		JEFFREY S. BERG	Management	For	For
		SAFRA A. CATZ	Management	For	For
		HECTOR GARCIA-MOLINA	Management	For	For
		JOSEPH A. GRUNDFEST	Management	For	For
		H. RAYMOND BINGHAM	Management	For	For
		CHARLES E. PHILLIPS, JR	Management	For	For
02	APPROVE EXECUTIVE BONUS PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



THE PROCTER & GAMBLE COMPANY			PG		Annual Meeting Date:
Issuer: 742718109		ISIN:				10/11/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		BRUCE L. BYRNES	Management	For	For
		SCOTT D. COOK	Management	For	For
		CHARLES R. LEE	Management	For	For
		W. JAMES MCNERNEY, JR.	Management	For	For
		ERNESTO ZEDILLO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	APPROVE CHARTER AMENDMENT		Management	For	For
04	APPROVE CHARTER AMENDMENT		Management	For	For
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For
07	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For



CHINA NETCOM GROUP CORP (HONG KONG)			CN		Special Meeting Date:
Issuer: 16940Q101		ISIN:				10/25/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	AUTHORIZE PURCHASE OF ASSETS		Management	For	For
02	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	For
03	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	For



TEVA PHARMACEUTICAL INDUSTRIES LIMIT			TEVA		Special Meeting Date:
Issuer: 881624209		ISIN:				10/27/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	CHANGE STOCK EXCHANGE LISTING		Management	For	For



HUNTSMAN CORPORATION					Annual Meeting Date:
Issuer: 447011107		ISIN:				11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JON M. HUNTSMAN	Management	For	For
		MARSHA J. EVANS	Management	For	For
		DAVID J. MATLIN	Management	For	For
		CHRISTOPHER R. PECHOCK	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



KLA-TENCOR CORPORATION			KLAC		Annual Meeting Date:
Issuer: 482480100		ISIN:				11/04/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		KENNETH LEVY	Management	For	For
		JON D. TOMPKINS	Management	For	For
		LIDA URBANEK	Management	For	For
02	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Against



MICROSOFT CORPORATION			MSFT		Annual Meeting Date:
Issuer: 594918104		ISIN:				11/09/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		DINA DUBLON	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



MAXIM INTEGRATED PRODUCTS, INC.			MXIM		Annual Meeting Date:
Issuer: 57772K101		ISIN:				11/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JAMES BERGMAN	Management	For	For
		MICHAEL J. BYRD	Management	For	For
		PETER DE ROETTH	Management	For	For
		JOHN F. GIFFORD	Management	For	For
		B. KIPLING HAGOPIAN	Management	For	For
		A.R. FRANK WAZZAN	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	AMEND NON-EMPLOYEE DIRECTOR PLAN TO INCREASE SHARES		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



CISCO SYSTEMS, INC.			CSCO		Annual Meeting Date:
Issuer: 17275R102		ISIN:				11/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		CAROL A. BARTZ	Management	For	For
		M. MICHELE BURNS	Management	For	For
		LARRY R. CARTER	Management	For	For
		JOHN T. CHAMBERS	Management	For	For
		DR. JOHN L. HENNESSY	Management	For	For
		RICHARD M. KOVACEVICH	Management	For	For
		RODERICK C. MCGEARY	Management	For	For
		JAMES C. MORGAN	Management	For	For
		JOHN P. MORGRIDGE	Management	For	For
		STEVEN M. WEST	Management	For	For
		JERRY YANG	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
04	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	For
05	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	For
	COMPENSATION
06	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	For



PACIFICARE HEALTH SYSTEMS, INC.			PHS		Special Meeting Date:
Issuer: 695112102		ISIN:				11/17/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	APPROVE MERGER AGREEMENT		Management	For	For
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	For



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

69 Ivy Capital Appreciation

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/28/06 - A	Adobe Systems Inc. ADBE		00724F101			02/13/06	28,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


03/14/06 - A	Analog Devices, Inc. ADI		032654105			01/13/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


03/30/06 - S	Burlington Resources Inc.		122014103			02/24/06	5,000
	1	Approve Merger Agreement		For	For		Mgmt
	2	Adjourn Meeting		For	For		Mgmt


01/17/06 - A	Monsanto Co. MON		61166W101			11/18/05	6,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	4	Report on Political Contributions		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr


03/30/06 - S	Nabors Industries, Ltd. NBR		G6359F103			02/17/06	5,500
		Meeting for Holders of ADRs
	1	Increase Authorized Common Stock		For	For		Mgmt


03/07/06 - A	QUALCOMM Inc. QCOM		747525103			01/06/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Declassify the Board and Eliminate Cumulative Voting		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	Adjourn Meeting		For	Against		Mgmt


03/31/06 - A	The Goldman Sachs Group, Inc. GS		38141G104			01/30/06	2,700
	1	Elect Directors		For	For		Mgmt
	2	Amend Restricted Partner Compensation Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

69 Ivy Capital Appreciation

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


06/14/06 - A	Abercrombie & Fitch Co. ANF		002896207			04/17/06	9,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/05/06 - A	Advanced Micro Devices, Inc. AMD		007903107			03/06/06	18,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	5	Approve Executive Incentive Bonus Plan		For	For		Mgmt


04/28/06 - A	Aetna Inc. AET		00817Y108			02/24/06	17,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Qualified Employee Stock Purchase Plan		For	For		Mgmt
	4	Provide for Cumulative Voting		Against	Against		ShrHoldr


06/15/06 - A	Affymetrix Inc. AFFX		00826T108			04/20/06	9,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Stephen P.A. Fodor, Ph.D. --- For
	1.2	Elect Director Paul Berg, Ph.D. --- For
	1.3	Elect Director Susan D. Desmond-Hellmann, M.D. --- Withhold
	1.4	Elect Director John D. Diekman, Ph.D. --- For
	1.5	Elect Director Vernon R. Loucks, Jr. --- For
	1.6	Elect Director David B. Singer --- For
	1.7	Elect Director Robert H. Trice, Ph.D. --- For
	1.8	Elect Director John A. Young --- For
	2	Ratify Auditors		For	For		Mgmt


04/21/06 - A	Alcoa Inc. AA		013817101			01/23/06	3,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/02/06 - A	Alcon Inc. ACL		H01301102			03/23/06	4,000
		Meeting for Holders of ADRs
	1	APPROVAL OF THE 2005 ANNUAL REPORT AND ACCOUNTS OF ALCON, INC. AND THE 2005 CONSOLIDATED FINANCIAL STATEMENTS OF ALCON, INC. AND SUBSIDIARIES		For	For		Mgmt
	2	APPROPRIATION OF AVAILABLE EARNINGS AND PROPOSED DIVIDEND TO SHAREHOLDERS FOR THE FINANCIAL YEAR 2005		For	For		Mgmt
	3	DISCHARGE OF THE MEMBERS OF THE BOARD OF DIRECTORS FOR THE FINANCIAL YEAR 2005		For	For		Mgmt
	4	ELECTION OF KPMG KLYNVELD PEAT MARWICK GOERDELER SA, ZURICH, AS GROUP AND PARENT COMPANY AUDITORS		For	For		Mgmt
	5	ELECTION OF ZENSOR REVISIONS AG, ZUG, AS SPECIAL AUDITORS		For	For		Mgmt
	6	ELECTION TO THE BOARD OF DIRECTORS OF PHIL GEIER		For	For		Mgmt
	7	ELECTION TO THE BOARD OF DIRECTORS OF PAUL POLMAN		For	For		Mgmt
	8	ELECTION TO THE BOARD OF DIRECTORS OF JOE WELLER		For	For		Mgmt
	9	APPROVAL OF SHARE CANCELLATION		For	For		Mgmt


04/27/06 - A	Altria Group, Inc. MO		02209S103			03/06/06	7,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	4	Adopt ILO Standards		Against	Against		ShrHoldr
	5	Inform African Americans of Health Risks Associated with Menthol Cigarettes		Against	Against		ShrHoldr
	6	Establish Fire Safety Standards for Cigarettes		Against	Against		ShrHoldr
	7	Adopt Animal Welfare Policy		Against	Against		ShrHoldr
	8	Support Legislation to Reduce Smoking		Against	Against		ShrHoldr
	9	Provide Information on Second Hand Smoke		Against	Against		ShrHoldr


05/10/06 - A	Amgen, Inc. AMGN		031162100			03/13/06	13,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Stock Retention		Against	Against		ShrHoldr
	4	Link Executive Compensation to Social Issues		Against	Against		ShrHoldr
	5	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
	6	Develop an Animal Welfare Policy		Against	Against		ShrHoldr
	7	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	8	Report on Political Contributions		For	For		ShrHoldr


05/11/06 - A	Anadarko Petroleum Corp. APC		032511107			03/13/06	6,000
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/04/06 - A	Apache Corp. APA		037411105			03/15/06	6,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt


04/27/06 - A	Apple Computer, Inc. AAPL		037833100			02/28/06	12,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Computer Recycling Policy		Against	Against		ShrHoldr


04/28/06 - A	AT&T Inc T		00206R102			03/01/06	20,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Amend Articles/Bylaws/Charter-Non-Routine		For	For		Mgmt
	5	Report on Political Contributions		Against	Against		ShrHoldr
	6	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	7	Report on Pay Disparity		Against	Against		ShrHoldr
	8	Non-Employee Director Compensation		Against	Against		ShrHoldr
	9	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr
	10	Adopt Simple Majority Vote Requirement		Against	For		ShrHoldr


05/06/06 - A	Berkshire Hathaway Inc. BRK.A		084670207			03/08/06	32
	1	Elect Directors		For	For		Mgmt


05/24/06 - A	BlackRock, Inc. BLK		09247X101			03/27/06	4,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt


04/27/06 - A	Broadcom Corp. BRCM		111320107			02/28/06	9,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Articles/Bylaws/Charter-Non-Routine		For	For		Mgmt
	3	Establish Range For Board Size		For	For		Mgmt
	4	Amend Non-Employee Director Omnibus Stock Plan		For	Against		Mgmt
	5	Ratify Auditors		For	For		Mgmt


04/19/06 - A	Burlington Northern Santa Fe Corp. BNI		12189T104			02/28/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	5	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	6	Separate Chairman and CEO Positions		Against	For		ShrHoldr


05/10/06 - A	Caremark Rx, Inc. CMX		141705103			03/31/06	13,000
	1	Elect Directors		For	For		Mgmt
	2	Report Policies For Political Contributions		Against	Against		ShrHoldr


05/04/06 - A	Colgate-Palmolive Co. CL		194162103			03/07/06	13,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Non-Employee Director Stock Option Plan		For	For		Mgmt
	4	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	5	Performance-Based Equity Awards		Against	Against		ShrHoldr


04/27/06 - A	Corning Inc. GLW		219350105			02/27/06	24,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director James B. Flaws --- For
	1.2	Elect Director James R. Houghton --- Withhold
	1.3	Elect Director James J. O'Connor --- For
	1.4	Elect Director Deborah D. Rieman --- For
	1.5	Elect Director Peter F. Volanakis --- For
	1.6	Elect Director Padmasree Warrior --- For
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	4	Approve Non-Employee Director Omnibus Stock Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Declassify the Board of Directors		Against	For		ShrHoldr


05/11/06 - A	CVS Corporation CVS		126650100			03/15/06	19,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Submit Supplemental Executive Retirement Plans to Shareholder vote		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	6	Report on Feasibility of Product Reformulation		Against	Against		ShrHoldr


05/15/06 - A	DaVita Inc. DVA		23918K108			03/23/06	13,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/10/06 - A	Dentsply International, Inc. XRAY		249030107			03/24/06	8,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/13/06 - A	eBay Inc. EBAY		278642103			04/17/06	10,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Emageon Inc. EMAG		29076V109			04/21/06	17,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/04/06 - A	EMC Corp. EMC		268648102			03/06/06	15,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Performance-Based and/or Time-Based Equity Awards		Against	Against		ShrHoldr
	5	Declassify the Board of Directors		Against	For		ShrHoldr
	6	Limit Composition of Committee(s) to Independent Directors		Against	Against		ShrHoldr


05/31/06 - A	Exxon Mobil Corp. XOM		30231G102			04/06/06	8,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	5	Company-Specific-Nominate Independent Director with Industry Experience		Against	Against		ShrHoldr
	6	Require Director Nominee Qualifications		Against	Against		ShrHoldr
	7	Non-Employee Director Compensation		Against	Against		ShrHoldr
	8	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	9	Review Executive Compensation		Against	Against		ShrHoldr
	10	Link Executive Compensation to Social Issues		Against	Against		ShrHoldr
	11	Report on Political Contributions		Against	Against		ShrHoldr
	12	Report on Charitable Contributions		Against	Against		ShrHoldr
	13	Amend Equal Employment Opportunity Policy to Prohibit Discrimination Based on Sexual Orientation		Against	Against		ShrHoldr
	14	Report on Damage Resulting from Drilling for Oil and gas in Protected Areas		Against	Against		ShrHoldr
	15	Report Accountability for Company's Environmental Impacts due to Operation		Against	Against		ShrHoldr


04/20/06 - A	Genentech, Inc. DNA		368710406			02/22/06	5,500
	1	Elect Directors		For	For		Mgmt
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/03/06 - A	General Dynamics Corp. GD		369550108			03/10/06	5,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Disqualification of Directors Who Fail to Receive Majority Vote		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	6	Report Political Contributions		Against	Against		ShrHoldr
	7	Sustainability Report		Against	Against		ShrHoldr


04/26/06 - A	General Electric Co. GE		369604103			02/27/06	16,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Restore or Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Adopt Policy on Overboarded Directors		Against	Against		ShrHoldr
	5	Company-Specific -- One Director from the Ranks of the Retirees		Against	Against		ShrHoldr
	6	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	7	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	8	Report on Environmental Policies		Against	Against		ShrHoldr


05/25/06 - A	Genzyme Corp. GENZ		372917104			03/31/06	10,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt
	4	Declassify the Board of Directors		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr


05/10/06 - A	Gilead Sciences, Inc. GILD		375558103			03/22/06	20,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Increase Authorized Common Stock		For	For		Mgmt
	6	Report on Impact of HIV/AIDS, TB, and Malaria Pandemics		Against	Against		ShrHoldr


05/11/06 - A	Google Inc GOOG		38259P508			03/17/06	4,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Company-Specific-Recapitalization Plan		Against	For		ShrHoldr


05/11/06 - A	Health Net, Inc. HNT		42222G108			03/22/06	11,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Henry Schein, Inc. HSIC		806407102			04/07/06	17,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Stanley M. Bergman --- For
	1.2	Elect Director Gerald A. Benjamin --- For
	1.3	Elect Director James P. Breslawski --- For
	1.4	Elect Director Mark E. Mlotek --- For
	1.5	Elect Director Steven Paladino --- For
	1.6	Elect Director Barry J. Alperin --- For
	1.7	Elect Director Paul Brons --- For
	1.8	Elect Director Dr. Margaret A. Hamburg --- For
	1.9	Elect Director Donald J. Kabat --- For
	1.10	Elect Director Philip A. Laskawy --- For
	1.11	Elect Director Norman S. Matthews --- For
	1.12	Elect Director Marvin H. Schein --- Withhold
	1.13	Elect Director Dr. Louis W. Sullivan --- For
	2	Ratify Auditors		For	For		Mgmt


05/24/06 - A	Hilton Hotels Corp. HLT		432848109			03/29/06	8,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr


04/25/06 - A	L-3 Communications Holdings, Inc. LLL		502424104			03/17/06	6,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt


06/07/06 - A	LAS VEGAS SANDS CORP LVS		517834107			04/14/06	14,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Marsh & McLennan Companies, Inc. MMC		571748102			03/20/06	10,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Report on Political Contributions		Against	Against		ShrHoldr


05/25/06 - A	MedImmune, Inc. MEDI		584699102			03/31/06	12,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Wayne T. Hockmeyer --- For
	1.2	Elect Director David M. Mott --- For
	1.3	Elect Director David Baltimore --- For
	1.4	Elect Director M. James Barrett --- For
	1.5	Elect Director James H. Cavanaugh --- For
	1.6	Elect Director Barbara Hackman Franklin --- For
	1.7	Elect Director Gordon S. Macklin --- Withhold
	1.8	Elect Director George M. Milne, Jr. --- For
	1.9	Elect Director Elizabeth H.S. Wyatt --- For
	2	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


04/28/06 - A	Merrill Lynch & Co., Inc. MER		590188108			02/27/06	4,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Restore or Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Compensation- Director Compensation		Against	Against		ShrHoldr
	5	Review Executive Compensation		Against	Against		ShrHoldr


04/04/06 - A	Morgan Stanley MS		617446448			02/03/06	2,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt
	4	Amend Articles/Bylaws/Remove plurality voting for directors		For	For		Mgmt
	5	Amend Articles/Bylaws/Eliminate supermajority voting requirements		For	For		Mgmt
	6	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	7	Amend Vote Requirements to Amend Articles/Bylaws/Charter		Against	For		ShrHoldr
	8	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr


06/30/06 - A	Nabors Industries, Ltd. NBR		G6359F103			04/07/06	5,500
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	MANAGEMENT PROPOSAL: APPROVAL OF THE COMPANY S AMENDED AND RESTATED 2003 EMPLOYEE STOCK PLAN.		For	For		Mgmt


05/25/06 - A	Nelnet Inc NNI		64031N108			03/27/06	10,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director James P. Abel --- For
	1.2	Elect Director Don R. Bouc --- For
	1.3	Elect Director Stephen E. Butterfield --- For
	1.4	Elect Director Michael S. Dunlap --- For
	1.5	Elect Director Thomas E. Henning --- For
	1.6	Elect Director Arturo R. Moreno --- Withhold
	1.7	Elect Director Brian J. O'Connor --- For
	1.8	Elect Director Michael D. Reardon --- For
	1.9	Elect Director James H. Van Horn --- For
	2	Ratify Auditors		For	For		Mgmt
	3	Approval of Employee Stock Purchase Loan Plan		For	For		Mgmt
	4	Increase Authorized Common Stock		For	For		Mgmt


05/17/06 - A	Novellus Systems, Inc. NVLS		670008101			03/31/06	6,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Performance-Based and/or Time-Based Equity Awards		Against	Against		ShrHoldr


05/05/06 - A	P.F. Chang's China Bistro, Inc. PFCB		69333Y108			03/14/06	5,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Adjourn Meeting		For	Against		Mgmt


05/25/06 - A	Sandisk Corp. SNDK		80004C101			03/28/06	6,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/09/06 - A	SAP AG		803054204			03/24/06	13,000
		Meeting for Holders of ADRs
	1	RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS OF THE FISCAL YEAR 2005		For	For		Mgmt
	2	RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN THE FISCAL YEAR 2005		For	For		Mgmt
	3	RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN THE FISCAL YEAR 2005		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	RESOLUTION ON A CAPITAL INCREASE FROM COMPANY FUNDS BY THREE TIMES THE AMOUNT OF THE EXISTING CAPITAL STOCK BY CONVERTING PARTIAL AMOUNTS OF THE CAPITAL RESERVES		For	For		Mgmt
	6	RESOLUTION ON THE IMPLEMENTATION OF THE CAPITAL INCREASE FROM COMPANY FUNDS BY THREE TIMES THE AMOUNT OF THE EXISTING CAPITAL STOCK BY CONVERTING PARTIAL AMOUNTS OF THE CAPITAL RESERVES		For	For		Mgmt
	7	RESOLUTION ON A CHANGE IN THE REMUNERATION OF THE MEMBERS OF THE SUPERVISORY BOARD AND ON A CORRESPONDING AMENDMENT OF THE ARTICLES OF ASSOCIATION		For	For		Mgmt
	8	RESOLUTION ON THE CREATION OF A NEW AUTHORIZED CAPITAL LA AGAINST CONTRIBUTIONS IN CASH WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS SUBSCRIPTION RIGHTS		For	Against		Mgmt
	9	RESOLUTION ON THE CREATION OF A NEW AUTHORIZED CAPITAL LLA AGAINST CONTRIBUTIONS IN CASH OR IN KIND WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS SUBSCRIPTION RIGHTS		For	For		Mgmt
	10	RESOLUTION ON THE AUTHORIZATION TO USE TREASURY SHARES WITH A PRO RATA AMOUNT OF CAPITAL STOCK REPRESENTED BY SUCH SHARES OF UP TO EUR 30 MILLION IN AGGREGATE		For	For		Mgmt
	11	RESOLUTION ON AN AUTHORIZATION TO ACQUIRE ADDITIONAL TREASURY SHARES WITH A PRO RATE AMOUNT OF CAPITAL STOCK REPRESENTED BY SUCH SHARES OF UP TO EUR 90 MILLION IN AGGREGATE		For	For		Mgmt
	12	RESOLUTION ON THE AUTHORIZATION TO USE EQUITY DERIVATIVES IN CONNECTION WITH THE ACQUISITION OF TREASURY SHARES		For	Against		Mgmt
	13	RESOLUTION ON THE AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT-LINKED BONDS, ON THE CANCELLATION OF THE EXISTING CONTINGENT CAPITAL IV, ON THE CREATION OF A NEW CONTINGENT CAPITAL IV		For	Against		Mgmt
	14	RESOLUTION ON AN ADDITIONAL AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT-LINKED BONDS, ON THE CREATION OF A NEW CONTINGENT CAPITAL IVA		For	Against		Mgmt
	15	RESOLUTION ON THE APPROVAL OF THE CONTROL AND PROFIT AND LOSS TRANSFER AGREEMENT BETWEEN SAP AG AND SAP ERSTE BETEILIGUNGS- UND VERMOGENSVERWALTUNGS GMBH		For	For		Mgmt
	16	RESOLUTION ON THE APPROVAL OF THE CONTROL AND PROFIT AND LOSS TRANSFER AGREEMENT BETWEEN SAP AG AND SAP ZWEITE BETEILIGUNGS- UND VERMOGENSVERWALTUNGS GMBH		For	For		Mgmt


05/19/06 - A	Schering-Plough Corp. SGP		806605101			03/20/06	13,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditor		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt
	4	Approve Outside Director Stock Awards/Options in Lieu of Cash		For	For		Mgmt
	5	Approve Omnibus Stock Plan		For	For		Mgmt
	6	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	7	Adopt Simple Majority Vote Requirement		Against	For		ShrHoldr


04/12/06 - A	Schlumberger Ltd. SLB		806857108			03/01/06	5,000
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	ADOPTION AND APPROVAL OF FINANCIALS AND DIVIDENDS		For	For		Mgmt
	3	ADOPTION OF AMENDMENT TO THE ARTICLES OF INCORPORATION		For	For		Mgmt
	4	APPROVAL OF AMENDMENT AND RESTATEMENT OF THE SCHLUMBERGER 2005 STOCK OPTION PLAN		For	For		Mgmt
	5	APPROVAL OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM		For	For		Mgmt


05/18/06 - A	SLM Corp. SLM		78442P106			03/20/06	16,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/10/06 - A	St. Jude Medical, Inc. STJ		790849103			03/13/06	8,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/17/06 - A	Target Corporation TGT		87612E106			03/20/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report Political Contributions/Activities		Against	Against		ShrHoldr


05/12/06 - A	Tenet Healthcare Corp. THC		88033G100			03/15/06	60,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/04/06 - A	Teva Pharmaceutical Industries		881624209			03/27/06	10,000
		Meeting for Holders of ADRs
	1	TO RECEIVE AND DISCUSS THE COMPANY S CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2005 AND THE CONSOLIDATED STATEMENTS OF INCOME FOR THE YEAR THEN ENDED.		For	For		Mgmt
	2	TO APPROVE THE BOARD OF DIRECTORS RECOMMENDATION THAT THE CASH DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2005 BE DECLARED FINAL.		For	For		Mgmt
	3	TO APPOINT PROF. GABRIELA SHALEV AS A STATUTORY INDEPENDENT DIRECTOR FOR AN ADDITIONAL TERM OF THREE YEARS.		For	For		Mgmt
	4	TO ELECT THE FOLLOWING DIRECTOR TO SERVE FOR A THREE-YEAR TERM: DR. PHILLIP FROST		For	For		Mgmt
	5	TO ELECT THE FOLLOWING DIRECTOR TO SERVE FOR A THREE-YEAR TERM: CARLO SALVI		For	For		Mgmt
	6	TO ELECT THE FOLLOWING DIRECTOR TO SERVE FOR A THREE-YEAR TERM: DAVID SHAMIR		For	For		Mgmt
	7	TO APPROVE THE PURCHASE OF DIRECTOR S AND OFFICER S LIABILITY INSURANCE FOR THE DIRECTORS AND OFFICERS OF THE COMPANY.		For	Against		Mgmt
	8	TO APPROVE AN AMENDMENT TO SECTION 60(E) OF THE COMPANY S ARTICLES OF ASSOCIATION.		For	For		Mgmt
	9	TO APPROVE AN INCREASE IN THE REMUNERATION PAID TO THE DIRECTORS OF THE COMPANY (OTHER THAN THE CHAIRMAN OF THE BOARD).		For	For		Mgmt
	10	TO APPOINT KESSELMAN & KESSELMAN, AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM AND DETERMINE THEIR COMPENSATION.		For	For		Mgmt


05/01/06 - A	The Boeing Co. BA		097023105			03/03/06	6,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Reduce Supermajority Vote Requirement		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Develop a Human Rights Policy		Against	Against		ShrHoldr
	7	Develop Ethical Criteria for Military Contracts		Against	Against		ShrHoldr
	8	Report on Charitable Contributions		Against	Against		ShrHoldr
	9	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	10	Separate Chairman and CEO Positions		Against	For		ShrHoldr


05/11/06 - A	Transocean Inc. RIG		G90078109			03/20/06	5,300
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	APPROVAL OF THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006.		For	For		Mgmt


05/23/06 - A	Triad Hospitals, Inc. TRI		89579K109			03/27/06	12,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/04/06 - A	United Parcel Service, Inc. UPS		911312106			03/09/06	11,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/12/06 - A	United Technologies Corp. UTX		913017109			02/14/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Establish Term Limits for Directors		Against	Against		ShrHoldr
	5	Report on Foreign Sales of Military Products		Against	Against		ShrHoldr


05/02/06 - A	UnitedHealth Group Incorporated UNH		91324P102			03/21/06	13,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


05/17/06 - A	US Airways Group, Inc. LCC		90341W108			03/29/06	10,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/12/06 - A	Uti Worldwide Inc. UTIW		G87210103			05/16/06	11,000
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	TO RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS OF THE COMPANY.		For	For		Mgmt


05/16/06 - A	Wellpoint Inc WLP		94973V107			03/24/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/24/06 - A	Xerox Corp. XRX		984121103			03/24/06	25,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Performance-Based Equity Awards		Against	Against		ShrHoldr


05/25/06 - A	Yahoo!, Inc. YHOO		984332106			03/29/06	15,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Non-Employee Director Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/01/06 - A	Zimmer Holdings Inc ZMH		98956P102			03/08/06	3,500
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Declassify the Board of Directors		Against	For		ShrHoldr

IVY CORE EQUITY FUND

Proxy Voting Record



SPRINT CORPORATION			FON		Annual Meeting Date:
Issuer: 852061100		ISIN:			07/13/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For
02	AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED		Management	For	For
03	APPROVE CHARTER AMENDMENT		Management	For	For
04	APPROVE ISSUANCE OF COMMON AND PREFERRED STOCK		Management	For	For
05	APPROVE MOTION TO ADJOURN MEETING		Management	For	For
06	ELECTION OF DIRECTORS		Management	For
		GORDON M. BETHUNE	Management	For	For
		DR. E. LINN DRAPER, JR.	Management	For	For
		JAMES H. HANCE, JR.	Management	For	For
		DEBORAH A. HENRETTA	Management	For	For
		IRVINE O. HOCKADAY, JR.	Management	For	For
		LINDA KOCH LORIMER	Management	For	For
		GERALD L. STORCH	Management	For	For
		WILLIAM H. SWANSON	Management	For	For
07	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For



DELL INC.			DELL		Annual Meeting Date:
Issuer: 24702R101		ISIN:			07/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
SH1	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Against
SH2	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For



VODAFONE GROUP PLC			VOD		Annual Meeting Date:
Issuer: 92857W100		ISIN:			07/26/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

O1	CHANGE STOCK EXCHANGE LISTING		Management	For	For
O2	ELECTION OF DIRECTORS		Management	For
		LORD MACLAURIN	Management	For	For
		PAUL HAZEN	Management	For	For
		ARUN SARIN	Management	For	For
		SIR JULIAN HORN-SMITH	Management	For	For
		PETER BAMFORD	Management	For	For
		THOMAS GEITNER	Management	For	For
		DR MICHAEL BOSKIN	Management	For	For
		LORD BROERS	Management	For	For
		JOHN BUCHANAN	Management	For	For
		PENNY HUGHES	Management	For	For
		PROF. JURGEN SCHREMPP	Management	For	For
		LUC VANDEVELDE	Management	For	For
		SIR JOHN BOND	Management	For	For
		ANDREW HALFORD	Management	For	For
O16	CHANGE STOCK EXCHANGE LISTING		Management	For	For
O17	CHANGE STOCK EXCHANGE LISTING		Management	For	For
O18	CHANGE STOCK EXCHANGE LISTING		Management	For	For
O19	CHANGE STOCK EXCHANGE LISTING		Management	For	For
O20	CHANGE STOCK EXCHANGE LISTING		Management	Against	Against
O21	CHANGE STOCK EXCHANGE LISTING		Management	Against	Against
S22	CHANGE STOCK EXCHANGE LISTING		Management	For	For
S23	CHANGE STOCK EXCHANGE LISTING		Management	For	For
S24	CHANGE STOCK EXCHANGE LISTING		Management	For	For
O25	CHANGE STOCK EXCHANGE LISTING		Management	For	For


`
MEDTRONIC, INC.			MDT		Annual Meeting Date:
Issuer: 585055106		ISIN:			08/25/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		SHIRLEY A. JACKSON, PHD	Management	For	For
		DENISE M. O'LEARY	Management	For	For
		JEAN-PIERRE ROSSO	Management	For	For
		JACK W. SCHULER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	ADOPT STOCK PURCHASE PLAN		Management	For	For
04	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	For



MICROSOFT CORPORATION			MSFT		Annual Meeting Date:
Issuer: 594918104		ISIN:			11/09/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		DINA DUBLON	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



MAXIM INTEGRATED PRODUCTS, INC.			MXIM		Annual Meeting Date:
Issuer: 57772K101		ISIN:			11/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JAMES BERGMAN	Management	For	For
		MICHAEL J. BYRD	Management	For	For
		PETER DE ROETTH	Management	For	For
		JOHN F. GIFFORD	Management	For	For
		B. KIPLING HAGOPIAN	Management	For	For
		A.R. FRANK WAZZAN	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	AMEND NON-EMPLOYEE DIRECTOR PLAN TO INCREASE SHARES		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



CAMPBELL SOUP COMPANY			CPB		Annual Meeting Date:
Issuer: 134429109		ISIN:			11/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JOHN F. BROCK	Management	For	For
		EDMUND M. CARPENTER	Management	For	For
		PAUL R. CHARRON	Management	For	For
		DOUGLAS R. CONANT	Management	For	For
		BENNETT DORRANCE	Management	For	For
		KENT B. FOSTER	Management	For	For
		HARVEY GOLUB	Management	For	For
		RANDALL W. LARRIMORE	Management	For	For
		PHILIP E. LIPPINCOTT	Management	For	For
		MARY ALICE D. MALONE	Management	For	For
		SARA MATHEW	Management	For	For
		DAVID C. PATTERSON	Management	For	For
		CHARLES R. PERRIN	Management	For	For
		A. BARRY RAND	Management	For	For
		GEORGE STRAWBRIDGE, JR.	Management	For	For
		LES C. VINNEY	Management	For	For
		CHARLOTTE C. WEBER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	For



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

1 Ivy Core Equity

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/28/06 - A	Adobe Systems Inc. ADBE		00724F101			02/13/06	80,800
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


01/26/06 - A	Air Products & Chemicals, Inc. APD		009158106			11/30/05	130,759
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt


02/10/06 - A	Avaya Inc AV		053499109			12/16/05	1
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


02/22/06 - A	Deere & Co. DE		244199105			12/31/05	40,211
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


01/19/06 - A	Family Dollar Stores, Inc. FDO		307000109			11/22/05	116,200
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


03/30/06 - S	Nabors Industries, Ltd. NBR		G6359F103			02/17/06	61,331
		Meeting for Holders of ADRs
	1	Increase Authorized Common Stock		For	For		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

1 Ivy Core Equity

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


06/14/06 - A	Abercrombie & Fitch Co. ANF		002896207			04/17/06	68,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Ace Ltd. ACE		G0070K103			03/31/06	66,700
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	APPROVAL OF AMENDMENT TO ACE LIMITED EMPLOYEE STOCK PURCHASE PLAN.		For	For		Mgmt
	3	RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF ACE LIMITED FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.		For	For		Mgmt


05/05/06 - A	Advanced Micro Devices, Inc. AMD		007903107			03/06/06	110,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	5	Approve Executive Incentive Bonus Plan		For	For		Mgmt


04/28/06 - A	Aetna Inc. AET		00817Y108			02/24/06	59,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Qualified Employee Stock Purchase Plan		For	For		Mgmt
	4	Provide for Cumulative Voting		Against	Against		ShrHoldr


05/01/06 - A	AFLAC Incorporated AFL		001055102			02/22/06	39,600
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Daniel P. Amos --- For
	1.2	Elect Director John Shelby Amos, II --- For
	1.3	Elect Director Michael H. Armacost --- Withhold
	1.4	Elect Director Kriss Cloninger, III --- For
	1.5	Elect Director Joe Frank Harris --- For
	1.6	Elect Director Elizabeth J. Hudson --- For
	1.7	Elect Director Kenneth S. Janke Sr. --- For
	1.8	Elect Director Douglas W. Johnson --- For
	1.9	Elect Director Robert B. Johnson --- For
	1.10	Elect Director Charles B. Knapp --- For
	1.11	Elect Director Hidefumi Matsui --- For
	1.12	Elect Director E. Stephen Purdom, M.D. --- For
	1.13	Elect Director Barbara K. Rimer, Dr. Ph --- For
	1.14	Elect Director Marvin R. Schuster --- For
	1.15	Elect Director David Gary Thompson --- For
	1.16	Elect Director Tohru Tonoike --- For
	1.17	Elect Director Robert L. Wright --- For
	2	Ratify Auditors		For	For		Mgmt


04/21/06 - A	Alcoa Inc. AA		013817101			01/23/06	86,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/28/06 - A	AT&T Inc T		00206R102			03/01/06	34,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Amend Articles/Bylaws/Charter-Non-Routine		For	For		Mgmt
	5	Report on Political Contributions		Against	Against		ShrHoldr
	6	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	7	Report on Pay Disparity		Against	Against		ShrHoldr
	8	Non-Employee Director Compensation		Against	Against		ShrHoldr
	9	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr
	10	Adopt Simple Majority Vote Requirement		Against	For		ShrHoldr


04/27/06 - A	Baker Hughes Incorporated BHI		057224107			03/01/06	137,331
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	4	Amend Vote Requirements to Amend Articles/Bylaws/Charter		Against	For		ShrHoldr


05/06/06 - A	Berkshire Hathaway Inc. BRK.A		084670207			03/08/06	2,250
	1	Elect Directors		For	For		Mgmt


06/21/06 - A	Best Buy Co., Inc. BBY		086516101			04/24/06	75,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/14/06 - A	Caterpillar Inc. CAT		149123101			04/17/06	79,846
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Declassify the Board of Directors		Against	For		ShrHoldr
	7	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	8	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


05/04/06 - A	Colgate-Palmolive Co. CL		194162103			03/07/06	72,468
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Non-Employee Director Stock Option Plan		For	For		Mgmt
	4	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	5	Performance-Based Equity Awards		Against	Against		ShrHoldr


04/27/06 - A	Corning Inc. GLW		219350105			02/27/06	110,600
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director James B. Flaws --- For
	1.2	Elect Director James R. Houghton --- Withhold
	1.3	Elect Director James J. O'Connor --- For
	1.4	Elect Director Deborah D. Rieman --- For
	1.5	Elect Director Peter F. Volanakis --- For
	1.6	Elect Director Padmasree Warrior --- For
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	4	Approve Non-Employee Director Omnibus Stock Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Declassify the Board of Directors		Against	For		ShrHoldr


04/28/06 - A	Dominion Resources, Inc. D		25746U109			02/24/06	35,672
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Report on Greenhouse Gas Emissions		Against	Against		ShrHoldr
	5	Submit Supplemental Executive Retirement Plans to Shareholder vote		Against	Against		ShrHoldr


06/27/06 - A	Exelon Corp. EXC		30161N101			05/12/06	46,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr


05/31/06 - A	Exxon Mobil Corp. XOM		30231G102			04/06/06	149,479
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	5	Company-Specific-Nominate Independent Director with Industry Experience		Against	Against		ShrHoldr
	6	Require Director Nominee Qualifications		Against	Against		ShrHoldr
	7	Non-Employee Director Compensation		Against	Against		ShrHoldr
	8	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	9	Review Executive Compensation		Against	Against		ShrHoldr
	10	Link Executive Compensation to Social Issues		Against	Against		ShrHoldr
	11	Report on Political Contributions		Against	Against		ShrHoldr
	12	Report on Charitable Contributions		Against	Against		ShrHoldr
	13	Amend Equal Employment Opportunity Policy to Prohibit Discrimination Based on Sexual Orientation		Against	Against		ShrHoldr
	14	Report on Damage Resulting from Drilling for Oil and gas in Protected Areas		Against	Against		ShrHoldr
	15	Report Accountability for Company's Environmental Impacts due to Operation		Against	Against		ShrHoldr


05/03/06 - A	Fluor Corp. FLR		343412102			03/08/06	43,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Performance-Based		Against	Against		ShrHoldr


05/03/06 - A	General Dynamics Corp. GD		369550108			03/10/06	86,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Disqualification of Directors Who Fail to Receive Majority Vote		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	6	Report Political Contributions		Against	Against		ShrHoldr
	7	Sustainability Report		Against	Against		ShrHoldr


04/26/06 - A	General Electric Co. GE		369604103			02/27/06	293,457
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Restore or Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Adopt Policy on Overboarded Directors		Against	Against		ShrHoldr
	5	Company-Specific -- One Director from the Ranks of the Retirees		Against	Against		ShrHoldr
	6	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	7	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	8	Report on Environmental Policies		Against	Against		ShrHoldr


05/17/06 - A	Genworth Financial, Inc. GNW		37247D106			03/24/06	194,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/11/06 - A	Google Inc GOOG		38259P508			03/17/06	10,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Company-Specific-Recapitalization Plan		Against	For		ShrHoldr


05/05/06 - A	Illinois Tool Works Inc. ITW		452308109			03/07/06	29,466
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	Against		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	Adopt/ Implement China Principles		Against	Against		ShrHoldr
	6	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


04/27/06 - A	Johnson & Johnson JNJ		478160104			02/28/06	107,500
	1	Elect Directors		For	For		Mgmt
	2	Amend Articles to Remove Antitakeover Provision		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Disclose Charitable Contributions		Against	Against		ShrHoldr
	5	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


05/16/06 - A	JPMorgan Chase & Co. JPM		46625H100			03/17/06	62,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Put Repricing of Stock Options to Shareholder Vote		Against	Against		ShrHoldr
	4	Performance-Based Equity Awards		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	Against		ShrHoldr
	6	Remove Reference to Sexual Orientation from EEO Statement		Against	Against		ShrHoldr
	7	Amend Articles/Bylaws/Charter -- Call Special Meetings		Against	For		ShrHoldr
	8	Report on Lobbying Activities		Against	Against		ShrHoldr
	9	Report on Political Contributions		Against	Against		ShrHoldr
	10	Approve Terms of Existing Poison Pill		Against	For		ShrHoldr
	11	Provide for Cumulative Voting		Against	Against		ShrHoldr
	12	Claw-back of Payments under Restatements		Against	Against		ShrHoldr
	13	Require Director Nominee Qualifications		Against	Against		ShrHoldr


05/18/06 - A	Juniper Networks, Inc. JNPR		48203R104			03/21/06	132,200
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


04/21/06 - A	Kellogg Co. K		487836108			03/01/06	92,553
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Sustainability Report		Against	Against		ShrHoldr


04/26/06 - A	Kohl's Corp. KSS		500255104			03/01/06	78,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt
	4	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


04/25/06 - A	L-3 Communications Holdings, Inc. LLL		502424104			03/17/06	32,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt


06/07/06 - A	LAS VEGAS SANDS CORP LVS		517834107			04/14/06	137,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/28/06 - A	Marriott International Inc. MAR		571903202			03/07/06	57,778
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt
	4	Require a Majority Vote for the Election of Directors		For	For		ShrHoldr


05/18/06 - A	Marsh & McLennan Companies, Inc. MMC		571748102			03/20/06	118,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Report on Political Contributions		Against	Against		ShrHoldr


04/28/06 - A	NRG Energy Inc NRG		629377508			03/13/06	61,100
	1	Elect Directors		For	For		Mgmt
	2	Revise Board's Authority to Issue and Designate Preferred Stock		For	Against		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/03/06 - A	PepsiCo, Inc. PEP		713448108			03/10/06	54,166
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Publish Political Contributions		Against	Against		ShrHoldr
	4	Report on Charitable Contributions		Against	Against		ShrHoldr


05/26/06 - A	Phelps Dodge Corp. PD		717265102			04/06/06	34,200
	1	Elect Directors		For	For		Mgmt
	2	Approve Non-Employee Director Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/09/06 - A	SAP AG		803054204			03/24/06	116,647
		Meeting for Holders of ADRs
	1	RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS OF THE FISCAL YEAR 2005		For	For		Mgmt
	2	RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN THE FISCAL YEAR 2005		For	For		Mgmt
	3	RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN THE FISCAL YEAR 2005		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	RESOLUTION ON A CAPITAL INCREASE FROM COMPANY FUNDS BY THREE TIMES THE AMOUNT OF THE EXISTING CAPITAL STOCK BY CONVERTING PARTIAL AMOUNTS OF THE CAPITAL RESERVES		For	For		Mgmt
	6	RESOLUTION ON THE IMPLEMENTATION OF THE CAPITAL INCREASE FROM COMPANY FUNDS BY THREE TIMES THE AMOUNT OF THE EXISTING CAPITAL STOCK BY CONVERTING PARTIAL AMOUNTS OF THE CAPITAL RESERVES		For	For		Mgmt
	7	RESOLUTION ON A CHANGE IN THE REMUNERATION OF THE MEMBERS OF THE SUPERVISORY BOARD AND ON A CORRESPONDING AMENDMENT OF THE ARTICLES OF ASSOCIATION		For	For		Mgmt
	8	RESOLUTION ON THE CREATION OF A NEW AUTHORIZED CAPITAL LA AGAINST CONTRIBUTIONS IN CASH WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS SUBSCRIPTION RIGHTS		For	Against		Mgmt
	9	RESOLUTION ON THE CREATION OF A NEW AUTHORIZED CAPITAL LLA AGAINST CONTRIBUTIONS IN CASH OR IN KIND WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS SUBSCRIPTION RIGHTS		For	For		Mgmt
	10	RESOLUTION ON THE AUTHORIZATION TO USE TREASURY SHARES WITH A PRO RATA AMOUNT OF CAPITAL STOCK REPRESENTED BY SUCH SHARES OF UP TO EUR 30 MILLION IN AGGREGATE		For	For		Mgmt
	11	RESOLUTION ON AN AUTHORIZATION TO ACQUIRE ADDITIONAL TREASURY SHARES WITH A PRO RATE AMOUNT OF CAPITAL STOCK REPRESENTED BY SUCH SHARES OF UP TO EUR 90 MILLION IN AGGREGATE		For	For		Mgmt
	12	RESOLUTION ON THE AUTHORIZATION TO USE EQUITY DERIVATIVES IN CONNECTION WITH THE ACQUISITION OF TREASURY SHARES		For	Against		Mgmt
	13	RESOLUTION ON THE AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT-LINKED BONDS, ON THE CANCELLATION OF THE EXISTING CONTINGENT CAPITAL IV, ON THE CREATION OF A NEW CONTINGENT CAPITAL IV		For	Against		Mgmt
	14	RESOLUTION ON AN ADDITIONAL AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT-LINKED BONDS, ON THE CREATION OF A NEW CONTINGENT CAPITAL IVA		For	Against		Mgmt
	15	RESOLUTION ON THE APPROVAL OF THE CONTROL AND PROFIT AND LOSS TRANSFER AGREEMENT BETWEEN SAP AG AND SAP ERSTE BETEILIGUNGS- UND VERMOGENSVERWALTUNGS GMBH		For	For		Mgmt
	16	RESOLUTION ON THE APPROVAL OF THE CONTROL AND PROFIT AND LOSS TRANSFER AGREEMENT BETWEEN SAP AG AND SAP ZWEITE BETEILIGUNGS- UND VERMOGENSVERWALTUNGS GMBH		For	For		Mgmt


04/12/06 - A	Schlumberger Ltd. SLB		806857108			03/01/06	61,388
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	ADOPTION AND APPROVAL OF FINANCIALS AND DIVIDENDS		For	For		Mgmt
	3	ADOPTION OF AMENDMENT TO THE ARTICLES OF INCORPORATION		For	For		Mgmt
	4	APPROVAL OF AMENDMENT AND RESTATEMENT OF THE SCHLUMBERGER 2005 STOCK OPTION PLAN		For	For		Mgmt
	5	APPROVAL OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM		For	For		Mgmt


05/18/06 - A	SLM Corp. SLM		78442P106			03/20/06	103,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/25/06 - A	Smith International, Inc. SII		832110100			03/01/06	83,200
	1	Elect Directors		For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/17/06 - A	Southwest Airlines Co. LUV		844741108			03/22/06	150,500
	1	Elect Directors		For	For		Mgmt
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Adopt Simple Majority Vote		Against	For		ShrHoldr


04/26/06 - A	Stryker Corp. SYK		863667101			02/28/06	55,800
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


04/26/06 - A	Suncor Energy Inc SU.		867229106			02/27/06	14,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify PricewaterhouseCoopers as Auditors		For	For		Mgmt


05/17/06 - A	Target Corporation TGT		87612E106			03/20/06	22,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report Political Contributions/Activities		Against	Against		ShrHoldr


05/01/06 - A	The Boeing Co. BA		097023105			03/03/06	76,800
	1	Elect Directors		For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Reduce Supermajority Vote Requirement		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Develop a Human Rights Policy		Against	Against		ShrHoldr
	7	Develop Ethical Criteria for Military Contracts		Against	Against		ShrHoldr
	8	Report on Charitable Contributions		Against	Against		ShrHoldr
	9	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	10	Separate Chairman and CEO Positions		Against	For		ShrHoldr


05/11/06 - A	Transocean Inc. RIG		G90078109			03/20/06	44,900
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	APPROVAL OF THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006.		For	For		Mgmt


05/04/06 - A	Union Pacific Corp. UNP		907818108			02/23/06	34,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Report on Political Contributions		Against	Against		ShrHoldr
	5	Provide for an Independent Chairman		Against	Against		ShrHoldr


05/04/06 - A	United Parcel Service, Inc. UPS		911312106			03/09/06	37,266
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/12/06 - A	United Technologies Corp. UTX		913017109			02/14/06	117,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Establish Term Limits for Directors		Against	Against		ShrHoldr
	5	Report on Foreign Sales of Military Products		Against	Against		ShrHoldr


05/02/06 - A	UnitedHealth Group Incorporated UNH		91324P102			03/21/06	91,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


05/09/06 - A	Weatherford International Ltd WFT		G95089101			03/10/06	156,400
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	APPROVAL OF THE WEATHERFORD INTERNATIONAL LTD. 2006 OMNIBUS INCENTIVE PLAN.		For	For		Mgmt
	4	APPROVAL OF AN INCREASE IN THE COMPANY S AUTHORIZED SHARE CAPITAL FROM $510,000,000, CONSISTING OF 500,000,000 COMMON SHARES AND 10,000,000 PREFERENCE SHARES, TO $1,010,000,000, BY THE CREATION OF 500,000,000 ADDITIONAL COMMON SHARES.		For	For		Mgmt


05/24/06 - A	Xerox Corp. XRX		984121103			03/24/06	243,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Performance-Based Equity Awards		Against	Against		ShrHoldr


05/01/06 - A	Zimmer Holdings Inc ZMH		98956P102			03/08/06	38,400
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Declassify the Board of Directors		Against	For		ShrHoldr

IVY ENERGY FUND

Proxy Voting Record



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

61 Ivy Energy Fund

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


06/14/06 - A	Caterpillar Inc. CAT		149123101			04/17/06	750
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Declassify the Board of Directors		Against	For		ShrHoldr
	7	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	8	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


05/24/06 - A	* CNOOC LTD		126132109			04/19/06	100
		Meeting for Holders of ADRs
	1	TO RECEIVE AND CONSIDER THE AUDITED ACCOUNTS FOR THE YEAR ENDED DECEMBER 31, 2005 TOGETHER WITH THE REPORTS OF THE DIRECTORS AND THE AUDITORS THEREON.		For	For		Mgmt
	2	TO DECLARE A FINAL DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2005.		For	For		Mgmt
	3	Elect Directors		For	For		Mgmt
	4	TO AUTHORIZE THE BOARD OF DIRECTORS TO FIX THE REMUNERATION OF EACH OF THE DIRECTORS.		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	TO GRANT A GENERAL MANDATE TO THE DIRECTORS TO REPURCHASE SHARES IN THE CAPITAL OF THE COMPANY.		For	For		Mgmt
	7	TO GRANT A GENERAL MANDATE TO THE DIRECTORS TO ALLOT, ISSUE AND DEAL WITH ADDITIONAL SHARES IN THE CAPITAL OF THE COMPANY.		For	Against		Mgmt
	8	TO EXTEND THE GENERAL MANDATE GRANTED TO THE DIRECTORS TO ALLOT, ISSUE AND DEAL WITH SHARES BY THE NUMBER OF SHARES REPURCHASED.		For	For		Mgmt


06/07/06 - A	Devon Energy Corp. DVN		25179M103			04/10/06	550
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt


06/08/06 - A	Evergreen Solar, Inc. ESLR		30033R108			04/10/06	1,150
	1	Ratify Auditors		For	For		Mgmt


05/26/06 - A	Petrochina Company Limited		71646E100			04/07/06	100
		Meeting for Holders of ADRs
	1	TO CONSIDER AND APPROVE THE REPORT OF THE BOARD OF DIRECTORS OF THE COMPANY FOR THE YEAR 2005.		For	For		Mgmt
	2	TO CONSIDER AND APPROVE THE REPORT OF THE SUPERVISORY COMMITTEE OF THE COMPANY FOR THE YEAR 2005.		For	For		Mgmt
	3	TO CONSIDER AND APPROVE THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE YEAR 2005.		For	For		Mgmt
	4	TO CONSIDER AND APPROVE THE DECLARATION AND PAYMENT OF A FINAL DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2005.		For	For		Mgmt
	5	APPROVE THE AUTHORISATION OF THE BOARD OF DIRECTORS TO DETERMINE THE DISTRIBUTION OF INTERIM DIVIDEND FOR THE YEAR 2006.		For	For		Mgmt
	6	Ratify Auditors		For	For		Mgmt
	7	TO CONSIDER AND APPROVE THE RE-ELECTION OF MR. ZHENG HU AS A DIRECTOR OF THE COMPANY.		For	For		Mgmt
	8	TO CONSIDER AND APPROVE THE RE-ELECTION OF MR. FRANCO BERNABE AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR OF THE COMPANY.		For	For		Mgmt
	9	AUTHORISE THE BOARD OF DIRECTORS TO ISSUE ALLOT AND DEAL WITH ADDITIONAL DOMESTIC SHARES AND OVERSEAS LISTED FOREIGN SHARES.		For	Against		Mgmt
	10	Other Business		For	Against		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

1298401

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


06/27/06 - A	Exelon Corp. EXC		30161N101			05/12/06	850
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr


06/30/06 - A	Nabors Industries, Ltd. NBR		G6359F103			04/07/06	750
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	MANAGEMENT PROPOSAL: APPROVAL OF THE COMPANY S AMENDED AND RESTATED 2003 EMPLOYEE STOCK PLAN.		For	For		Mgmt

IVY HIGH INCOME FUND

Proxy Voting Record



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

9 Ivy High Income

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/20/06 - WC	IWO Holdings, Inc.		45071TAE5			03/02/06	250,000
	1	THE PROPOSED AMENDMENTS		None	For		Mgmt


03/20/06 - WC	IWO Holdings, Inc.		45071TAF2			03/02/06	50,000
	1	THE PROPOSED AMENDMENTS		None	For		Mgmt


02/27/06 - WC	US Unwired Inc.		90338RAF1			02/09/06	140,000
	1	PROPOSED AMENDMENTS		None	For		Mgmt


02/27/06 - WC	US Unwired Inc.		90338RAG9			02/09/06	750,000
	1	PROPOSED AMENDMENTS		None	For		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

9 Ivy High Income

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


05/14/06 - WC	Adelphia Communications Corp. ADELQ		006848303			11/28/05	2,500
	1	DEBTORS FOURTH AMENDED JOINT PLAN OF REORGANIZATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE DATED NOVEMBER 21, 2005.M		None	Against		Mgmt


05/23/06 - A	Diamond Offshore Drilling, Inc. DO		25271C102			03/27/06	1,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/09/06 - A	Dresser-Rand Group Inc. DRC		261608103			03/31/06	4,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/10/06 - A	Forest Oil Corp. FST		346091705			03/22/06	7,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/26/06 - A	Phelps Dodge Corp. PD		717265102			04/06/06	4,600
	1	Elect Directors		For	For		Mgmt
	2	Approve Non-Employee Director Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/10/06 - A	Pinnacle Entertainment, Inc. PNK		723456109			04/03/06	7,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/18/06 - A	The Williams Companies, Inc. WMB		969457100			03/27/06	9,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr

IVY LARGE CAP GROWTH FUND

Proxy Voting Record



THE PROCTER & GAMBLE COMPANY			PG		Special Meeting Date:
Issuer: 742718109		ISIN:				07/12/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	APPROVE MERGER AGREEMENT		Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For



DELL INC.			DELL		Annual Meeting Date:
Issuer: 24702R101		ISIN:				07/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
SH1	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Against
SH2	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For



RESEARCH IN MOTION LIMITED			RIMM		Annual Meeting Date:
Issuer: 760975102		ISIN:				07/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For



LEGG MASON, INC.			LM		Annual Meeting Date:
Issuer: 524901105		ISIN:				07/19/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		DENNIS R. BERESFORD	Management	For	For
		EDWARD I. O'BRIEN	Management	For	For
		ROGER W. SCHIPKE	Management	For	For
		NICHOLAS J. ST. GEORGE	Management	For	For
02	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For



XILINX, INC.			XLNX		Annual Meeting Date:
Issuer: 983919101		ISIN:				08/04/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		WILLEM P. ROELANDTS	Management	For	For
		JOHN L. DOYLE	Management	For	For
		JERALD G. FISHMAN	Management	For	For
		PHILIP T. GIANOS	Management	For	For
		WILLIAM G. HOWARD, JR.	Management	For	For
		HAROLD E. HUGHES, JR.	Management	For	For
		J. MICHAEL PATTERSON	Management	For	For
		RICHARD W. SEVCIK	Management	For	For
		ELIZABETH W VANDERSLICE	Management	For	For
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
04	CHANGE STOCK EXCHANGE LISTING		Management	For	*Management Position Unknown



MICROCHIP TECHNOLOGY INCORPORATED			MCHP		Annual Meeting Date:
Issuer: 595017104		ISIN:				08/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		STEVE SANGHI	Management	For	For
		ALBERT J. HUGO-MARTINEZ	Management	For	For
		L.B. DAY	Management	For	For
		MATTHEW W. CHAPMAN	Management	For	For
		WADE F. MEYERCORD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



MEDTRONIC, INC.			MDT		Annual Meeting Date:
Issuer: 585055106		ISIN:				08/25/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		SHIRLEY A. JACKSON, PHD	Management	For	For
		DENISE M. O'LEARY	Management	For	For
		JEAN-PIERRE ROSSO	Management	For	For
		JACK W. SCHULER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	ADOPT STOCK PURCHASE PLAN		Management	For	For
04	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	For



THE PROCTER & GAMBLE COMPANY			PG		Annual Meeting Date:
Issuer: 742718109		ISIN:				10/11/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		BRUCE L. BYRNES	Management	For	For
		SCOTT D. COOK	Management	For	For
		CHARLES R. LEE	Management	For	For
		W. JAMES MCNERNEY, JR.	Management	For	For
		ERNESTO ZEDILLO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	APPROVE CHARTER AMENDMENT		Management	For	For
04	APPROVE CHARTER AMENDMENT		Management	For	For
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For
07	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For



PAYCHEX, INC.			PAYX		Annual Meeting Date:
Issuer: 704326107		ISIN:				10/12/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		B. THOMAS GOLISANO	Management	For	For
		DAVID J. S. FLASCHEN	Management	For	For
		PHILLIP HORSLEY	Management	For	For
		GRANT M. INMAN	Management	For	For
		JONATHAN J. JUDGE	Management	For	For
		J. ROBERT SEBO	Management	For	For
		JOSEPH M. TUCCI	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For



COACH, INC.			COH		Annual Meeting Date:
Issuer: 189754104		ISIN:				11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JOSEPH ELLIS	Management	For	For
		LEW FRANKFORT	Management	For	For
		GARY LOVEMAN	Management	For	For
		IVAN MENEZES	Management	For	For
		IRENE MILLER	Management	For	For
		KEITH MONDA	Management	For	For
		MICHAEL MURPHY	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For



HARMAN INTERNATIONAL INDUSTRIES, INC			HAR		Annual Meeting Date:
Issuer: 413086109		ISIN:				11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		SIDNEY HARMAN	Management	For	For
		SHIRLEY M. HUFSTEDLER	Management	For	For



LINEAR TECHNOLOGY CORPORATION			LLTC		Annual Meeting Date:
Issuer: 535678106		ISIN:				11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		ROBERT H. SWANSON, JR.	Management	For	For
		DAVID S. LEE	Management	For	For
		LOTHAR MAIER	Management	For	For
		LEO T. MCCARTHY	Management	For	For
		RICHARD M. MOLEY	Management	For	For
		THOMAS S. VOLPE	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	ADOPT STOCK PURCHASE PLAN		Management	For	For
04	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



AUTOMATIC DATA PROCESSING, INC.			ADP		Annual Meeting Date:
Issuer: 053015103		ISIN:				11/08/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		GREGORY D. BRENNEMAN	Management	For	For
		LESLIE A. BRUN	Management	For	For
		GARY C. BUTLER	Management	For	For
		LEON G. COOPERMAN	Management	For	For
		R. GLENN HUBBARD	Management	For	For
		JOHN P. JONES	Management	For	For
		ANN DIBBLE JORDAN	Management	For	For
		HARVEY M. KRUEGER	Management	For	For
		FREDERIC V. MALEK	Management	For	For
		HENRY TAUB	Management	For	For
		ARTHUR F. WEINBACH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



MICROSOFT CORPORATION			MSFT		Annual Meeting Date:
Issuer: 594918104		ISIN:				11/09/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		DINA DUBLON	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

67 Ivy Large Cap Growth

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/28/06 - A	Adobe Systems Inc. ADBE		00724F101			02/13/06	128,200
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


01/26/06 - A	Franklin Resources, Inc. BEN		354613101			11/30/05	66,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


01/17/06 - A	Monsanto Co. MON		61166W101			11/18/05	89,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	4	Report on Political Contributions		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr


03/07/06 - A	QUALCOMM Inc. QCOM		747525103			01/06/06	49,000
	1	Elect Directors		For	For		Mgmt
	2	Declassify the Board and Eliminate Cumulative Voting		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	Adjourn Meeting		For	Against		Mgmt


02/08/06 - A	Starbucks Corp. SBUX		855244109			12/01/05	33,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt


03/31/06 - A	The Goldman Sachs Group, Inc. GS		38141G104			01/30/06	24,700
	1	Elect Directors		For	For		Mgmt
	2	Amend Restricted Partner Compensation Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

67 Ivy Large Cap Growth

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


06/14/06 - A	Abercrombie & Fitch Co. ANF		002896207			04/17/06	37,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/01/06 - A	AFLAC Incorporated AFL		001055102			02/22/06	45,200
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Daniel P. Amos --- For
	1.2	Elect Director John Shelby Amos, II --- For
	1.3	Elect Director Michael H. Armacost --- Withhold
	1.4	Elect Director Kriss Cloninger, III --- For
	1.5	Elect Director Joe Frank Harris --- For
	1.6	Elect Director Elizabeth J. Hudson --- For
	1.7	Elect Director Kenneth S. Janke Sr. --- For
	1.8	Elect Director Douglas W. Johnson --- For
	1.9	Elect Director Robert B. Johnson --- For
	1.10	Elect Director Charles B. Knapp --- For
	1.11	Elect Director Hidefumi Matsui --- For
	1.12	Elect Director E. Stephen Purdom, M.D. --- For
	1.13	Elect Director Barbara K. Rimer, Dr. Ph --- For
	1.14	Elect Director Marvin R. Schuster --- For
	1.15	Elect Director David Gary Thompson --- For
	1.16	Elect Director Tohru Tonoike --- For
	1.17	Elect Director Robert L. Wright --- For
	2	Ratify Auditors		For	For		Mgmt


05/02/06 - A	Alcon Inc. ACL		H01301102			03/23/06	68,900
		Meeting for Holders of ADRs
	1	APPROVAL OF THE 2005 ANNUAL REPORT AND ACCOUNTS OF ALCON, INC. AND THE 2005 CONSOLIDATED FINANCIAL STATEMENTS OF ALCON, INC. AND SUBSIDIARIES		For	For		Mgmt
	2	APPROPRIATION OF AVAILABLE EARNINGS AND PROPOSED DIVIDEND TO SHAREHOLDERS FOR THE FINANCIAL YEAR 2005		For	For		Mgmt
	3	DISCHARGE OF THE MEMBERS OF THE BOARD OF DIRECTORS FOR THE FINANCIAL YEAR 2005		For	For		Mgmt
	4	ELECTION OF KPMG KLYNVELD PEAT MARWICK GOERDELER SA, ZURICH, AS GROUP AND PARENT COMPANY AUDITORS		For	For		Mgmt
	5	ELECTION OF ZENSOR REVISIONS AG, ZUG, AS SPECIAL AUDITORS		For	For		Mgmt
	6	ELECTION TO THE BOARD OF DIRECTORS OF PHIL GEIER		For	For		Mgmt
	7	ELECTION TO THE BOARD OF DIRECTORS OF PAUL POLMAN		For	For		Mgmt
	8	ELECTION TO THE BOARD OF DIRECTORS OF JOE WELLER		For	For		Mgmt
	9	APPROVAL OF SHARE CANCELLATION		For	For		Mgmt


05/02/06 - A	Allergan, Inc. AGN		018490102			03/15/06	7,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Non-Employee Director Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt


05/10/06 - A	Amgen, Inc. AMGN		031162100			03/13/06	29,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Stock Retention		Against	Against		ShrHoldr
	4	Link Executive Compensation to Social Issues		Against	Against		ShrHoldr
	5	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
	6	Develop an Animal Welfare Policy		Against	Against		ShrHoldr
	7	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	8	Report on Political Contributions		For	For		ShrHoldr


04/27/06 - A	Apple Computer, Inc. AAPL		037833100			02/28/06	128,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Computer Recycling Policy		Against	Against		ShrHoldr


06/21/06 - A	Best Buy Co., Inc. BBY		086516101			04/24/06	86,850
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/27/06 - A	Broadcom Corp. BRCM		111320107			02/28/06	57,600
	1	Elect Directors		For	For		Mgmt
	2	Amend Articles/Bylaws/Charter-Non-Routine		For	For		Mgmt
	3	Establish Range For Board Size		For	For		Mgmt
	4	Amend Non-Employee Director Omnibus Stock Plan		For	Against		Mgmt
	5	Ratify Auditors		For	For		Mgmt


06/14/06 - A	Caterpillar Inc. CAT		149123101			04/17/06	101,500
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Declassify the Board of Directors		Against	For		ShrHoldr
	7	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	8	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


04/26/06 - A	Chicago Mercantile Exchange Holdings, Inc. CME		167760107			03/01/06	5,343
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/03/06 - A	Expeditors International Of Washington, Inc. EXPD		302130109			03/10/06	100,800
	1	Elect Directors		For	For		Mgmt
	2	Approve Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Implement Sexual Orientation Policy		Against	Against		ShrHoldr


04/20/06 - A	Genentech, Inc. DNA		368710406			02/22/06	110,800
	1	Elect Directors		For	For		Mgmt
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/03/06 - A	General Dynamics Corp. GD		369550108			03/10/06	41,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	4	Disqualification of Directors Who Fail to Receive Majority Vote		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	6	Report Political Contributions		Against	Against		ShrHoldr
	7	Sustainability Report		Against	Against		ShrHoldr


05/10/06 - A	Gilead Sciences, Inc. GILD		375558103			03/22/06	137,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Increase Authorized Common Stock		For	For		Mgmt
	6	Report on Impact of HIV/AIDS, TB, and Malaria Pandemics		Against	Against		ShrHoldr


05/11/06 - A	Google Inc GOOG		38259P508			03/17/06	28,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Company-Specific-Recapitalization Plan		Against	For		ShrHoldr


05/25/06 - A	Home Depot, Inc. (The) HD		437076102			03/28/06	92,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Increase Disclosure of Executive Compensation		Against	Against		ShrHoldr
	4	Report on EEOC-Related Activities		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	6	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr
	7	Submit Supplemental Executive Retirement Plans to Shareholder vote		Against	Against		ShrHoldr
	8	Report on Political Contributions		Against	Against		ShrHoldr
	9	Increase Disclosure of Executive Compensation		Against	Against		ShrHoldr
	10	Affirm Political Non-partisanship		Against	Against		ShrHoldr


04/27/06 - A	Johnson & Johnson JNJ		478160104			02/28/06	55,700
	1	Elect Directors		For	For		Mgmt
	2	Amend Articles to Remove Antitakeover Provision		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Disclose Charitable Contributions		Against	Against		ShrHoldr
	5	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


06/07/06 - A	LAS VEGAS SANDS CORP LVS		517834107			04/14/06	167,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/25/06 - A	Moody's Corporation MCO		615369105			03/01/06	79,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		Against	For		ShrHoldr


05/23/06 - A	Morningstar, Inc. MORN		617700109			04/03/06	1,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/03/06 - A	PepsiCo, Inc. PEP		713448108			03/10/06	86,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Publish Political Contributions		Against	Against		ShrHoldr
	4	Report on Charitable Contributions		Against	Against		ShrHoldr


05/02/06 - A	Robert Half International Inc. RHI		770323103			03/10/06	132,810
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditor		For	For		Mgmt
	3	Prohibit Discrimination Based on Sexual Orientation		Against	Against		ShrHoldr


05/09/06 - A	SAP AG		803054204			03/24/06	99,150
		Meeting for Holders of ADRs
	1	RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS OF THE FISCAL YEAR 2005		For	For		Mgmt
	2	RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN THE FISCAL YEAR 2005		For	For		Mgmt
	3	RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN THE FISCAL YEAR 2005		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	RESOLUTION ON A CAPITAL INCREASE FROM COMPANY FUNDS BY THREE TIMES THE AMOUNT OF THE EXISTING CAPITAL STOCK BY CONVERTING PARTIAL AMOUNTS OF THE CAPITAL RESERVES		For	For		Mgmt
	6	RESOLUTION ON THE IMPLEMENTATION OF THE CAPITAL INCREASE FROM COMPANY FUNDS BY THREE TIMES THE AMOUNT OF THE EXISTING CAPITAL STOCK BY CONVERTING PARTIAL AMOUNTS OF THE CAPITAL RESERVES		For	For		Mgmt
	7	RESOLUTION ON A CHANGE IN THE REMUNERATION OF THE MEMBERS OF THE SUPERVISORY BOARD AND ON A CORRESPONDING AMENDMENT OF THE ARTICLES OF ASSOCIATION		For	For		Mgmt
	8	RESOLUTION ON THE CREATION OF A NEW AUTHORIZED CAPITAL LA AGAINST CONTRIBUTIONS IN CASH WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS SUBSCRIPTION RIGHTS		For	Against		Mgmt
	9	RESOLUTION ON THE CREATION OF A NEW AUTHORIZED CAPITAL LLA AGAINST CONTRIBUTIONS IN CASH OR IN KIND WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS SUBSCRIPTION RIGHTS		For	For		Mgmt
	10	RESOLUTION ON THE AUTHORIZATION TO USE TREASURY SHARES WITH A PRO RATA AMOUNT OF CAPITAL STOCK REPRESENTED BY SUCH SHARES OF UP TO EUR 30 MILLION IN AGGREGATE		For	For		Mgmt
	11	RESOLUTION ON AN AUTHORIZATION TO ACQUIRE ADDITIONAL TREASURY SHARES WITH A PRO RATE AMOUNT OF CAPITAL STOCK REPRESENTED BY SUCH SHARES OF UP TO EUR 90 MILLION IN AGGREGATE		For	For		Mgmt
	12	RESOLUTION ON THE AUTHORIZATION TO USE EQUITY DERIVATIVES IN CONNECTION WITH THE ACQUISITION OF TREASURY SHARES		For	Against		Mgmt
	13	RESOLUTION ON THE AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT-LINKED BONDS, ON THE CANCELLATION OF THE EXISTING CONTINGENT CAPITAL IV, ON THE CREATION OF A NEW CONTINGENT CAPITAL IV		For	Against		Mgmt
	14	RESOLUTION ON AN ADDITIONAL AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT-LINKED BONDS, ON THE CREATION OF A NEW CONTINGENT CAPITAL IVA		For	Against		Mgmt
	15	RESOLUTION ON THE APPROVAL OF THE CONTROL AND PROFIT AND LOSS TRANSFER AGREEMENT BETWEEN SAP AG AND SAP ERSTE BETEILIGUNGS- UND VERMOGENSVERWALTUNGS GMBH		For	For		Mgmt
	16	RESOLUTION ON THE APPROVAL OF THE CONTROL AND PROFIT AND LOSS TRANSFER AGREEMENT BETWEEN SAP AG AND SAP ZWEITE BETEILIGUNGS- UND VERMOGENSVERWALTUNGS GMBH		For	For		Mgmt


04/12/06 - A	Schlumberger Ltd. SLB		806857108			03/01/06	68,000
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	ADOPTION AND APPROVAL OF FINANCIALS AND DIVIDENDS		For	For		Mgmt
	3	ADOPTION OF AMENDMENT TO THE ARTICLES OF INCORPORATION		For	For		Mgmt
	4	APPROVAL OF AMENDMENT AND RESTATEMENT OF THE SCHLUMBERGER 2005 STOCK OPTION PLAN		For	For		Mgmt
	5	APPROVAL OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM		For	For		Mgmt


05/18/06 - A	SLM Corp. SLM		78442P106			03/20/06	292,050
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/25/06 - A	Smith International, Inc. SII		832110100			03/01/06	325,624
	1	Elect Directors		For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


04/26/06 - A	Stryker Corp. SYK		863667101			02/28/06	54,200
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/02/06 - A	UnitedHealth Group Incorporated UNH		91324P102			03/21/06	178,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr

IVY LIMITED-TERM BOND FUND

Proxy Voting Record

There was no proxy voting for Ivy Limited-Term Bond Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY MID CAP GROWTH FUND

Proxy Voting Record



MICROCHIP TECHNOLOGY INCORPORATED			MCHP		Annual Meeting Date:
Issuer: 595017104		ISIN:				08/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		STEVE SANGHI	Management	For	For
		ALBERT J. HUGO-MARTINEZ	Management	For	For
		L.B. DAY	Management	For	For
		MATTHEW W. CHAPMAN	Management	For	For
		WADE F. MEYERCORD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



NETWORK APPLIANCE, INC.			NTAP		Annual Meeting Date:
Issuer: 64120L104		ISIN:				08/31/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		DANIEL J. WARMENHOVEN	Management	For	For
		DONALD T. VALENTINE	Management	For	For
		JEFFRY R. ALLEN	Management	For	For
		CAROL A. BARTZ	Management	For	For
		ALAN L. EARHART	Management	For	For
		MARK LESLIE	Management	For	For
		NICHOLAS G. MOORE	Management	For	For
		SACHIO SEMMOTO	Management	For	For
		GEORGE T. SHAHEEN	Management	For	For
		ROBERT T. WALL	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	AMEND STOCK PURCHASE PLAN		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



GLOBAL PAYMENTS INC.			GPN		Annual Meeting Date:
Issuer: 37940X102		ISIN:				09/21/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		PAUL R. GARCIA	Management	For	For
		MICHAEL W. TRAPP	Management	For	For
		GERALD J. WILKINS	Management	For	For



BIOMET, INC.			BMET		Annual Meeting Date:
Issuer: 090613100		ISIN:				09/23/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		C. SCOTT HARRISON, M.D.	Management	For	For
		SANDRA A. LAMB	Management	For	For
		KENNETH V. MILLER	Management	For	For
		NILES L. NOBLITT	Management	For	For
		MARILYN TUCKER QUAYLE	Management	For	For
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



AMEGY BANCORPORATION, INC.					Special Meeting Date:
Issuer: 02343R102		ISIN:				10/11/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	APPROVE MERGER AGREEMENT		Management	For	For
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	For



PAYCHEX, INC.			PAYX		Annual Meeting Date:
Issuer: 704326107		ISIN:				10/12/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		B. THOMAS GOLISANO	Management	For	For
		DAVID J. S. FLASCHEN	Management	For	For
		PHILLIP HORSLEY	Management	For	For
		GRANT M. INMAN	Management	For	For
		JONATHAN J. JUDGE	Management	For	For
		J. ROBERT SEBO	Management	For	For
		JOSEPH M. TUCCI	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For



C.H. ROBINSON WORLDWIDE, INC.			CHRW		Special Meeting Date:
Issuer: 12541W100		ISIN:				10/14/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	APPROVE REVERSE STOCK SPLIT		Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For



CINTAS CORPORATION			CTAS		Annual Meeting Date:
Issuer: 172908105		ISIN:				10/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		RICHARD T. FARMER	Management	For	For
		ROBERT J. KOHLHEPP	Management	For	For
		SCOTT D. FARMER	Management	For	For
		PAUL R. CARTER	Management	For	For
		GERALD V. DIRVIN	Management	For	For
		ROBERT J. HERBOLD	Management	For	For
		JOYCE HERGENHAN	Management	For	For
		ROGER L. HOWE	Management	For	For
		DAVID C. PHILLIPS	Management	For	For
02	MISCELLANEOUS COMPENSATION PLANS		Management	Against	Against
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
04	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	For	Against



SUN MICROSYSTEMS, INC.			SUNW		Annual Meeting Date:
Issuer: 866810104		ISIN:				10/27/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		SCOTT G. MCNEALY	Management	For	For
		JAMES L. BARKSDALE	Management	For	For
		STEPHEN M. BENNETT	Management	For	For
		L. JOHN DOERR	Management	For	For
		ROBERT J. FISHER	Management	For	For
		MICHAEL E. LEHMAN	Management	For	For
		PATRICIA E. MITCHELL	Management	For	For
		M. KENNETH OSHMAN	Management	For	For
		NAOMI O. SELIGMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Against
	RATIFY POISON PILL



MOLEX INCORPORATED			MOLX		Annual Meeting Date:
Issuer: 608554101		ISIN:				10/28/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JOHN H. KREHBIEL, JR.*	Management	For	For
		ROBERT J. POTTER*	Management	For	For
		EDGAR D. JANNOTTA*	Management	For	For
		DONALD G. LUBIN*	Management	For	For
		DAVID L. LANDSITTEL**	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	ADOPT STOCK AWARDS PLAN		Management	For	For
04	ADOPT STOCK PURCHASE PLAN		Management	For	For
05	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
06	AMEND STOCK OPTION PLAN		Management	For	For
07	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



LAM RESEARCH CORPORATION			LRCX		Annual Meeting Date:
Issuer: 512807108		ISIN:				11/03/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JAMES W. BAGLEY	Management	For	For
		DAVID G. ARSCOTT	Management	For	For
		ROBERT M. BERDAHL	Management	For	For
		RICHARD J. ELKUS, JR.	Management	For	For
		JACK R. HARRIS	Management	For	For
		GRANT M. INMAN	Management	For	For
		STEPHEN G. NEWBERRY	Management	For	For
		SEIICHI WATANABE	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



MEREDITH CORPORATION			MDP		Annual Meeting Date:
Issuer: 589433101		ISIN:				11/08/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management
		ROBERT E. LEE	Management	For	For
		DAVID J. LONDONER	Management	For	For
		PHILIP A. MARINEAU	Management	For	For
		CHARLES D. PEEBLER, JR.	Management	Withheld	Against
02	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	For	Against



MAXIM INTEGRATED PRODUCTS, INC.			MXIM		Annual Meeting Date:
Issuer: 57772K101		ISIN:				11/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JAMES BERGMAN	Management	For	For
		MICHAEL J. BYRD	Management	For	For
		PETER DE ROETTH	Management	For	For
		JOHN F. GIFFORD	Management	For	For
		B. KIPLING HAGOPIAN	Management	For	For
		A.R. FRANK WAZZAN	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	AMEND NON-EMPLOYEE DIRECTOR PLAN TO INCREASE SHARES		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



THE ESTEE LAUDER COMPANIES INC.			EL		Annual Meeting Date:
Issuer: 518439104		ISIN:				11/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		CHARLENE BARSHEFSKY	Management	For	For
		LEONARD A. LAUDER	Management	For	For
		RONALD S. LAUDER	Management	For	For
		MARSHALL ROSE	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



CAMPBELL SOUP COMPANY			CPB		Annual Meeting Date:
Issuer: 134429109		ISIN:				11/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Management

01	ELECTION OF DIRECTORS		Management	For
		JOHN F. BROCK	Management	For	For
		EDMUND M. CARPENTER	Management	For	For
		PAUL R. CHARRON	Management	For	For
		DOUGLAS R. CONANT	Management	For	For
		BENNETT DORRANCE	Management	For	For
		KENT B. FOSTER	Management	For	For
		HARVEY GOLUB	Management	For	For
		RANDALL W. LARRIMORE	Management	For	For
		PHILIP E. LIPPINCOTT	Management	For	For
		MARY ALICE D. MALONE	Management	For	For
		SARA MATHEW	Management	For	For
		DAVID C. PATTERSON	Management	For	For
		CHARLES R. PERRIN	Management	For	For
		A. BARRY RAND	Management	For	For
		GEORGE STRAWBRIDGE, JR.	Management	For	For
		LES C. VINNEY	Management	For	For
		CHARLOTTE C. WEBER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	For



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

68 Ivy Mid Cap Growth

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/30/06 - S	Burlington Resources Inc.		122014103			02/24/06	35,550
	1	Approve Merger Agreement		For	For		Mgmt
	2	Adjourn Meeting		For	For		Mgmt


02/21/06 - A	Health Management Associates, Inc. HMA		421933102			12/23/05	75,800
	1	Elect Directors		For	For		Mgmt
	2	Approve Non-Employee Director Restricted Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


03/09/06 - A	TD Ameritrade Holdings Corp. AMTD		03074K100			01/26/06	86,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Other Business		For	Against		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

68 Ivy Mid Cap Growth

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


05/02/06 - A	Allergan, Inc. AGN		018490102			03/15/06	39,950
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Non-Employee Director Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt


06/06/06 - A	Alliance Data Systems Corp. ADS		018581108			04/13/06	55,250
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/27/06 - A	Apple Computer, Inc. AAPL		037833100			02/28/06	57,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Computer Recycling Policy		Against	Against		ShrHoldr


05/12/06 - A	AXIS CAPITAL HOLDINGS LTD AXS		G0692U109			03/10/06	53,450
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	Ratify Deloitte Touche LLP as Auditor and Authorize the Board to Fix their Remuneration		For	For		Mgmt


04/27/06 - A	Broadcom Corp. BRCM		111320107			02/28/06	76,875
	1	Elect Directors		For	For		Mgmt
	2	Amend Articles/Bylaws/Charter-Non-Routine		For	For		Mgmt
	3	Establish Range For Board Size		For	For		Mgmt
	4	Amend Non-Employee Director Omnibus Stock Plan		For	Against		Mgmt
	5	Ratify Auditors		For	For		Mgmt


04/19/06 - A	C. R. Bard, Inc. BCR		067383109			02/27/06	52,150
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt
	4	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Adopt ILO Standards		Against	Against		ShrHoldr


05/18/06 - A	C.H. Robinson Worldwide, Inc. CHRW		12541W209			03/27/06	64,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt


04/26/06 - A	Chicago Mercantile Exchange Holdings, Inc. CME		167760107			03/01/06	10,150
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/20/06 - A	Chicos FAS Inc. CHS		168615102			04/24/06	19,650
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/02/06 - A	Cytyc Corporation CYTC		232946103			03/20/06	34,850
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/10/06 - A	Dentsply International, Inc. XRAY		249030107			03/24/06	25,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/13/06 - A	eBay Inc. EBAY		278642103			04/17/06	89,200
	1	Elect Directors		For	For		Mgmt
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Euronet Worldwide Inc. EEFT		298736109			03/30/06	27,000
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	Against		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt


05/23/06 - A	Everest Re Group LTD RE		G3223R108			03/27/06	14,400
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	TO APPROVE AN AMENDMENT TO THE EVEREST RE GROUP, LTD. 2002 STOCK INCENTIVE PLAN.		For	For		Mgmt


04/18/06 - A	Fastenal Co. FAST		311900104			02/20/06	92,050
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/17/06 - A	Gen-Probe, Inc. GPRO		36866T103			03/24/06	25,100
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/02/06 - A	Getty Images, Inc. GYI		374276103			03/02/06	28,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/10/06 - A	Gilead Sciences, Inc. GILD		375558103			03/22/06	52,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Increase Authorized Common Stock		For	For		Mgmt
	6	Report on Impact of HIV/AIDS, TB, and Malaria Pandemics		Against	Against		ShrHoldr


04/29/06 - A	Harley-Davidson, Inc. HDI		412822108			03/09/06	19,050
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Henry Schein, Inc. HSIC		806407102			04/07/06	78,800
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Stanley M. Bergman --- For
	1.2	Elect Director Gerald A. Benjamin --- For
	1.3	Elect Director James P. Breslawski --- For
	1.4	Elect Director Mark E. Mlotek --- For
	1.5	Elect Director Steven Paladino --- For
	1.6	Elect Director Barry J. Alperin --- For
	1.7	Elect Director Paul Brons --- For
	1.8	Elect Director Dr. Margaret A. Hamburg --- For
	1.9	Elect Director Donald J. Kabat --- For
	1.10	Elect Director Philip A. Laskawy --- For
	1.11	Elect Director Norman S. Matthews --- For
	1.12	Elect Director Marvin H. Schein --- Withhold
	1.13	Elect Director Dr. Louis W. Sullivan --- For
	2	Ratify Auditors		For	For		Mgmt


05/11/06 - A	Icos Corp. ICOS		449295104			03/07/06	47,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		Against	For		ShrHoldr
	4	Company-Specific -- Engagement with Shareholders		Against	Against		ShrHoldr


04/04/06 - A	IDEX Corp. IEX		45167R104			02/28/06	63,325
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Juniper Networks, Inc. JNPR		48203R104			03/21/06	84,950
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


06/15/06 - A	Kyphon Inc KYPH		501577100			04/20/06	43,500
	1	Elect Directors		For	For		Mgmt
	2	Approve Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


04/25/06 - A	L-3 Communications Holdings, Inc. LLL		502424104			03/17/06	26,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt


05/17/06 - A	Laboratory Corporation of America Holdings LH		50540R409			03/31/06	53,300
	1	Elect Directors		For	For		Mgmt
	2	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Lamar Advertising Company LAMR		512815101			04/03/06	56,650
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt


05/23/06 - A	Longs Drug Stores Corp. LDG		543162101			03/10/06	29,350
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt


06/30/06 - A	Neurocrine Biosciences, Inc. NBIX		64125C109			05/01/06	25,400
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt


04/25/06 - A	Noble Energy, Inc. NBL		655044105			03/14/06	31,050
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Separate Chairman and CEO Positions		Against	For		ShrHoldr


05/23/06 - A	Nordstrom, Inc. JWN		655664100			03/15/06	27,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


04/18/06 - A	Northern Trust Corp. NTRS		665859104			02/27/06	52,900
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Duane L. Burnham --- For
	1.2	Elect Director Linda Walker Bynoe --- For
	1.3	Elect Director Susan Crown --- For
	1.4	Elect Director Dipak C. Jain --- For
	1.5	Elect Director Arthur L. Kelly --- Withhold
	1.6	Elect Director Robert C. McCormack --- For
	1.7	Elect Director Edward J. Mooney --- For
	1.8	Elect Director William A. Osborn --- For
	1.9	Elect Director John W. Rowe --- For
	1.10	Elect Director Harold B. Smith --- For
	1.11	Elect Director William D. Smithburg --- For
	1.12	Elect Director Charles A. Tribbett, III --- For
	1.13	Elect Director Frederick H. Waddell --- For
	2	Ratify Auditors		For	For		Mgmt
	3	Eliminate Cumulative Voting		For	For		Mgmt
	4	Disclose Charitable Contributions		Against	Against		ShrHoldr


05/05/06 - A	P.F. Chang's China Bistro, Inc. PFCB		69333Y108			03/14/06	23,800
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Adjourn Meeting		For	Against		Mgmt


05/09/06 - A	Prudential Financial Inc PRU		744320102			03/10/06	22,448
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Eliminate or Restrict Severance Agreements (Change-in-Control)		Against	Against		ShrHoldr


04/25/06 - A	Smith International, Inc. SII		832110100			03/01/06	18,600
	1	Elect Directors		For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/17/06 - A	Southwest Airlines Co. LUV		844741108			03/22/06	102,900
	1	Elect Directors		For	For		Mgmt
	2	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Adopt Simple Majority Vote		Against	For		ShrHoldr


05/02/06 - A	Starwood Hotels & Resorts Worldwide, Inc. HOT		85590A203			03/14/06	32,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/03/06 - A	Stericycle, Inc. SRCL		858912108			03/06/06	45,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Develop Plan to Eliminate Incineration of Medical Waste		Against	Against		ShrHoldr


04/27/06 - A	Synovus Financial Corp. SNV		87161C105			02/21/06	120,400
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Richard Y. Bradley --- For
	1.2	Elect Director Frank W. Brumley --- For
	1.3	Elect Director Elizabeth W. Camp --- For
	1.4	Elect Director T. Michael Goodrich --- For
	1.5	Elect Director John P. Illges, III --- For
	1.6	Elect Director J. Neal Purcell --- For
	1.7	Elect Director William B. Turner, Jr. --- Withhold
	2	Declassify the Board of Directors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


04/18/06 - A	The Hershey Co HSY		427866108			02/17/06	37,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Cocoa Supply		Against	Against		ShrHoldr


05/16/06 - A	XTO Energy Inc XTO		98385X106			03/31/06	33,766
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt

IVY MONEY MARKET FUND

Proxy Voting Record

There was no proxy voting for Ivy Money Market Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY MUNICIPAL BOND FUND

Proxy Voting Record

There was no proxy voting for Ivy Municipal Bond Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY SCIENCE AND TECHNOLOGY FUND

Proxy Voting Record



DELL INC.			DELL	Annual Meeting Date:
Issuer: 24702R		ISIN:			07/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
SH1	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Against
SH2	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For



RESEARCH IN MOTION LIMITED			RIMM	Annual Meeting Date:
Issuer: 760975		ISIN:			07/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For



IVAX CORPORATION			IVX	Annual Meeting Date:
Issuer: 465823		ISIN:			08/03/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		BETTY G. AMOS	Management	For	For
		MARK ANDREWS	Management	For	For
		JACK FISHMAN PH.D.	Management	For	For
		NEIL FLANZRAICH	Management	For	For
		PHILLIP FROST M.D.	Management	For	For
		JANE HSIAO PH.D.	Management	For	For
		RICHARD M. KRASNO PH.D.	Management	For	For
		DAVID A. LIEBERMAN	Management	For	For
		RICHARD C. PFENNIGER JR	Management	For	For
		BERTRAM PITT M.D.	Management	For	For
		Z.P. ZACHARIAH M.D.	Management	For	For



XILINX, INC.			XLNX	Annual Meeting Date:
Issuer: 983919		ISIN:			08/04/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		WILLEM P. ROELANDTS	Management	For	For
		JOHN L. DOYLE	Management	For	For
		JERALD G. FISHMAN	Management	For	For
		PHILIP T. GIANOS	Management	For	For
		WILLIAM G. HOWARD, JR.	Management	For	For
		HAROLD E. HUGHES, JR.	Management	For	For
		J. MICHAEL PATTERSON	Management	For	For
		RICHARD W. SEVCIK	Management	For	For
		ELIZABETH W VANDERSLICE	Management	For	For
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
04	CHANGE STOCK EXCHANGE LISTING		Management	For	*Management Position Unknown



MICROCHIP TECHNOLOGY INCORPORATED			MCHP	Annual Meeting Date:
Issuer: 595017		ISIN:			08/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		STEVE SANGHI	Management	For	For
		ALBERT J. HUGO-MARTINEZ	Management	For	For
		L.B. DAY	Management	For	For
		MATTHEW W. CHAPMAN	Management	For	For
		WADE F. MEYERCORD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



RED HAT, INC.			RHAT	Annual Meeting Date:
Issuer: 756577		ISIN:			08/26/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		WILLIAM S. KAISER	Management	For	For
		EDWARD R. KOZEL	Management	For	For
		ROBERT F. YOUNG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



SYMANTEC CORPORATION			SYMC	Annual Meeting Date:
Issuer: 871503		ISIN:			09/16/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		GARY L. BLOOM	Management	For	For
		MICHAEL BROWN	Management	For	For
		WILLIAM T. COLEMAN	Management	For	For
		DAVID L. MAHONEY	Management	For	For
		ROBERT S. MILLER	Management	For	For
		GEORGE REYES	Management	For	For
		DAVID ROUX	Management	For	For
		DANIEL H. SCHULMAN	Management	For	For
		JOHN W. THOMPSON	Management	For	For
		V. PAUL UNRUH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



ORACLE CORPORATION			ORCL	Annual Meeting Date:
Issuer: 68389X		ISIN:			10/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		JEFFREY O. HENLEY	Management	For	For
		LAWRENCE J. ELLISON	Management	For	For
		DONALD L. LUCAS	Management	For	For
		MICHAEL J. BOSKIN	Management	For	For
		JACK F. KEMP	Management	For	For
		JEFFREY S. BERG	Management	For	For
		SAFRA A. CATZ	Management	For	For
		HECTOR GARCIA-MOLINA	Management	For	For
		JOSEPH A. GRUNDFEST	Management	For	For
		H. RAYMOND BINGHAM	Management	For	For
		CHARLES E. PHILLIPS, JR	Management	For	For
02	APPROVE EXECUTIVE BONUS PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



CHECKFREE CORPORATION			CKFR	Annual Meeting Date:
Issuer: 162813		ISIN:			11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management
		WILLIAM P. BOARDMAN	Management	Withheld	Against
		JAMES D. DIXON	Management	For	For



MICROSOFT CORPORATION			MSFT	Annual Meeting Date:
Issuer: 594918		ISIN:			11/09/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		DINA DUBLON	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



MICRON TECHNOLOGY, INC.			MU	Annual Meeting Date:
Issuer: 595112		ISIN:			12/06/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		STEVEN R. APPLETON	Management	For	For
		JAMES W. BAGLEY	Management	For	For
		MERCEDES JOHNSON	Management	For	For
		ROBERT A. LOTHROP	Management	For	For
		LAWRENCE N. MONDRY	Management	For	For
		GORDON C. SMITH	Management	For	For
		WILLIAM P. WEBER	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

8 Ivy Science & Technology

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


03/28/06 - A	Adobe Systems Inc. ADBE		00724F101			02/13/06	192,700
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


03/23/06 - A	ASML Holding NV (Formerly ASM Lithography Hldg)		N07059111			02/24/06	172,900
		Meeting for Holders of ADRs
	1	DISCUSSION OF ANNUAL REPORT 2005 AND ADOPTION OF THE FINANCIAL STATEMENTS ( FY ) 2005, AS PREPARED IN ACCORDANCE WITH DUTCH LAW		For	For		Mgmt
	2	DISCHARGE OF THE MEMBERS OF THE BOARD OF MANAGEMENT ( BOM ) FROM LIABILITY FOR THE FY 2005.		For	For		Mgmt
	3	DISCHARGE OF THE MEMBERS OF THE SUPERVISORY BOARD FROM LIABILITY FOR THE FY 2005.		For	For		Mgmt
	4	TO AMEND THE ARTICLES OF ASSOCIATION OF THE COMPANY.		For	For		Mgmt
	5	ADOPTION OF THE REVISED REMUNERATION POLICY FOR THE BOM.		For	For		Mgmt
	6	APPROVAL OF THE PERFORMANCE STOCK ARRANGEMENT FOR THE BOM, AS MORE FULLY DESCRIBED IN THE AGENDA.		For	For		Mgmt
	7	APPROVAL OF THE PERFORMANCE STOCK OPTION ARRANGEMENT FOR THE BOM, AS MORE FULLY DESCRIBED IN THE AGENDA.		For	For		Mgmt
	8	APPROVAL OF THE STOCK OPTION ARRANGEMENTS FOR THE ASML EMPLOYEES, AS MORE FULLY DESCRIBED IN THE AGENDA.		For	For		Mgmt
	9	AUTHORIZATION OF THE BOARD OF MANAGEMENT TO ISSUE 22,000 SIGN-ON STOCK AND 22,000 SIGN-ON STOCK OPTIONS TO MR. K.P. FUCHS.		For	For		Mgmt
	10	TO RE-APPOINT MR. DEKKER AS MEMBER OF THE SUPERVISORY BOARD.		For	For		Mgmt
	11	TO AUTHORIZE THE BOM FOR A PERIOD OF 18 MONTHS TO ISSUE SHARES OR RIGHTS TO SUBSCRIBE FOR A LIMIT OF 10% OF THE SHARE CAPITAL.		For	For		Mgmt
	12	TO AUTHORIZE THE BOM FOR A PERIOD OF 18 MONTHS TO RESTRICT OR EXCLUDE THE PRE-EMPTION RIGHT ACCRUING TO SHAREHOLDERS.		For	For		Mgmt
	13	TO AUTHORIZE THE BOM FOR A PERIOD OF 18 MONTHS TO ISSUE SHARES OR RIGHTS TO SUBSCRIBE FOR AN ADDITIONAL 10% OF THE CAPITAL.		For	For		Mgmt
	14	TO AUTHORIZE THE BOM FOR A PERIOD OF 18 MONTHS FROM MARCH 23, 2006, TO RESTRICT THE PRE-EMPTION RIGHT ACCRUING TO SHAREHOLDERS		For	For		Mgmt
	15	TO AUTHORIZE THE BOM FOR A PERIOD OF 18 MONTHS TO ACQUIRE OWN SHARES. VOTING CUT-OFF DATE: MARCH 15, 2006.		For	For		Mgmt


02/02/06 - A	ESCO Technologies Inc. ESE		296315104			12/07/05	66,500
	1	Elect Directors		For	For		Mgmt
	2	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


02/28/06 - A	Headwaters Incorporated HW		42210P102			01/11/06	160,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


02/28/06 - A	Samsung Electronics Co. Ltd.		Y74718100			12/31/05	21,400
	1	Approve Financial Statements and Appropriation of Income, with a Final Dividend of KRW 5000 Per Common Share		For	For		Mgmt
	2	Elect Directors		For	For		Mgmt
	2.3	Elect Members of Audit Committee		For	For		Mgmt
	3	Approve Limit on Remuneration of Directors		For	For		Mgmt


03/22/06 - A	Verifone Holdings Inc PAY		92342Y109			02/03/06	129,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Approve Omnibus Stock Plan		For	Against		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

8 Ivy Science & Technology

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


05/25/06 - A	Advanced Medical Optics, Inc. EYE		00763M108			03/31/06	168,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/05/06 - A	Advanced Micro Devices, Inc. AMD		007903107			03/06/06	124,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	5	Approve Executive Incentive Bonus Plan		For	For		Mgmt


06/15/06 - A	Affymetrix Inc. AFFX		00826T108			04/20/06	194,800
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Stephen P.A. Fodor, Ph.D. --- For
	1.2	Elect Director Paul Berg, Ph.D. --- For
	1.3	Elect Director Susan D. Desmond-Hellmann, M.D. --- Withhold
	1.4	Elect Director John D. Diekman, Ph.D. --- For
	1.5	Elect Director Vernon R. Loucks, Jr. --- For
	1.6	Elect Director David B. Singer --- For
	1.7	Elect Director Robert H. Trice, Ph.D. --- For
	1.8	Elect Director John A. Young --- For
	2	Ratify Auditors		For	For		Mgmt


06/06/06 - A	Alliance Data Systems Corp. ADS		018581108			04/13/06	411,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/20/06 - A	ALLTEL Corp. AT		020039103			02/24/06	50,800
	1	Elect Directors		For	For		Mgmt
	2	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	3	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/26/06 - A	Cerner Corp. CERN		156782104			03/31/06	574,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt


05/01/06 - A	Cypress Semiconductor Corp. CY		232806109			03/09/06	302,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt


05/18/06 - A	Euronet Worldwide Inc. EEFT		298736109			03/30/06	261,100
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	Against		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Genzyme Corp. GENZ		372917104			03/31/06	144,800
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt
	4	Declassify the Board of Directors		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	Submit Severance Agreement (Change in Control) to shareholder Vote		Against	Against		ShrHoldr


04/27/06 - A	GLOBAL CASH ACCESS HOLDINGS INC GCA		378967103			03/08/06	103,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/11/06 - A	Google Inc GOOG		38259P508			03/17/06	23,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Company-Specific-Recapitalization Plan		Against	For		ShrHoldr


05/18/06 - A	HealthSouth Corp. HLSH		421924101			04/07/06	719,100
	1	Elect Directors		For	For		Mgmt


05/18/06 - A	Juniper Networks, Inc. JNPR		48203R104			03/21/06	180,100
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


06/30/06 - A	Neurocrine Biosciences, Inc. NBIX		64125C109			05/01/06	112,100
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt


04/25/06 - A	Noble Energy, Inc. NBL		655044105			03/14/06	205,500
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Separate Chairman and CEO Positions		Against	For		ShrHoldr


05/24/06 - A	Nuvelo, Inc. NUVO		67072M301			03/31/06	105,500
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt
	3	Ratify Auditors		For	For		Mgmt


06/28/06 - A	Plug Power, Inc. PLUG		72919P103			05/01/06	316,400
	1	Elect Directors		For	For		Mgmt
	2	Company Specific --Approval of Issuance of Shares to Smart Hydrogen Inc.		For	For		Mgmt


06/09/06 - A	PortalPlayer Inc PLAY		736187204			04/21/06	189,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/08/06 - A	SAIFUN SEMICONDUCTORS LTD SFUN		M8233P102			05/08/06	85,500
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	SUBJECT TO HIS RE-ELECTION AS A CLASS I DIRECTOR IN ACCORDANCE WITH PROPOSAL 1, TO RE-AUTHORIZE THE COMPANY S CHIEF EXECUTIVE OFFICER, DR. BOAZ EITAN, TO SERVE CONCURRENTLY AS CHAIRMAN OF THE BOARD OF DIRECTORS OF THE COMPANY UNTIL THE 2009 ANNUAL GENERA		For	Against		Mgmt
	3	IN CONNECTION WITH PROPOSAL 2A ABOVE, PLEASE INDICATE WHETHER YOU ARE A CONTROLLING SHAREHOLDER OF THE COMPANY AND IF YES, PLEASE PROVIDE DETAILS.		None	None		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Sandisk Corp. SNDK		80004C101			03/28/06	49,600
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/12/06 - A	Spansion Inc SPSN		84649R101			03/27/06	161,400
	1	Elect Director David K. Chao		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/01/06 - A	Symbol Technologies, Inc. SBL		871508107			03/24/06	1,053,260
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/06/06 - A	Technology Investment Capital Corp. TICC		878717305			04/27/06	53,581
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/24/06 - A	TELVENT GIT SA TLVT		E90215109			04/21/06	153,500
		Meeting for Holders of ADRs
	1	EXAMINATION AND APPROVAL OF THE ANNUAL ACCOUNTS AND THE MANAGEMENT REPORT OF THE COMPANY CORRESPONDING TO THE FINANCIAL YEAR 2005.		For	For		Mgmt
	2	APPROVAL OF PROPOSED DISTRIBUTION OF THE NET INCOME FOR THE 2005 FINANCIAL YEAR.		For	For		Mgmt
	3	APPROVAL OF THE ACTIONS OF THE BOARD OF DIRECTORS IN THE LAST YEAR.		For	For		Mgmt
	4	APPROVAL OF THE BOARD OF DIRECTORS COMPENSATION.		For	For		Mgmt
	5	Ratify Auditors		For	For		Mgmt
	6	AMENDMENT OF THE MINIMUM NOTICE PERIOD FOR THE CALLING OF A GENERAL SHAREHOLDERS MEETING.		For	For		Mgmt
	7	GRANT OF POWER TO THE BOARD OF DIRECTORS TO CORRECT, FORMALIZE, EXECUTE AND/OR LEGALIZE ALL DOCUMENTS MEMORIALIZING THE AGREEMENTS OF THE SHAREHOLDERS AT THIS MEETING.		For	For		Mgmt
	8	APPROVAL OF THE MINUTES OF THIS MEETING IN ANY OF THE CASES SET BY LAW.		For	For		Mgmt
	9	Other Business		For	Against		Mgmt


05/23/06 - A	Triad Hospitals, Inc. TRI		89579K109			03/27/06	320,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/02/06 - A	UnitedHealth Group Incorporated UNH		91324P102			03/21/06	143,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Require a Majority Vote for the Election of Directors		Against	For		ShrHoldr


05/18/06 - A	Volterra Semiconductor Corp VLTR		928708106			03/31/06	239,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/07/06 - A	Wellcare Health Plans Inc WCG		94946T106			04/20/06	362,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/16/06 - A	Wellpoint Inc WLP		94973V107			03/24/06	116,900
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/10/06 - A	WorldSpace, Inc. WRSP		981579105			03/20/06	201,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt

IVY SMALL CAP GROWTH FUND

Proxy Voting Record



THQ INC.			THQI	Annual Meeting Date:
Issuer: 872443		ISIN:			07/19/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		BRIAN J. FARRELL	Management	For	For
		LAWRENCE BURSTEIN	Management	For	For
		HENRY T. DENERO	Management	For	For
		BRIAN P. DOUGHERTY	Management	For	For
		JAMES L. WHIMS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



PLANTRONICS, INC.			PLT	Annual Meeting Date:
Issuer: 727493		ISIN:			07/21/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		MARV TSEU	Management	For	For
		KEN KANNAPPAN	Management	For	For
		GREGG HAMMANN	Management	For	For
		MARSHALL MOHR	Management	For	For
		TRUDE TAYLOR	Management	For	For
		ROGER WERY	Management	For	For
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	For
03	AMEND STOCK PURCHASE PLAN		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



AVID TECHNOLOGY, INC.			AVID	Annual Meeting Date:
Issuer: 05367P		ISIN:			07/27/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For
02	ELECTION OF DIRECTORS		Management	For
		ELIZABETH M. DALEY	Management	For	For
		JOHN V. GUTTAG	Management	For	For
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
05	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Against



MICROSTRATEGY INCORPORATED			MSTR	Annual Meeting Date:
Issuer: 594972		ISIN:			08/04/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		MICHAEL J. SAYLOR	Management	For	For
		SANJU K. BANSAL	Management	For	For
		MATTHEW W. CALKINS	Management	For	For
		F. DAVID FOWLER	Management	For	For
		JARROD M. PATTEN	Management	For	For
		CARL J. RICKERTSEN	Management	For	For
02	MISCELLANEOUS COMPENSATION PLANS		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



THE J. M. SMUCKER COMPANY			SJM	Annual Meeting Date:
Issuer: 832696		ISIN:			08/19/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		VINCENT C. BYRD	Management	For	For
		R. DOUGLAS COWAN	Management	For	For
		ELIZABETH VALK LONG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For
03	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Against



RED HAT, INC.			RHAT	Annual Meeting Date:
Issuer: 756577		ISIN:			08/26/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		WILLIAM S. KAISER	Management	For	For
		EDWARD R. KOZEL	Management	For	For
		ROBERT F. YOUNG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



OXFORD INDUSTRIES, INC.			OXM	Annual Meeting Date:
Issuer: 691497		ISIN:			10/10/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management
		CECIL D. CONLEE	Management	For	For
		J. REESE LANIER, SR.	Management	For	For
		ROBERT E. SHAW	Management	Withheld	Against
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



RESOURCES CONNECTION, INC.			RECN	Annual Meeting Date:
Issuer: 76122Q		ISIN:			10/11/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		STEPHEN J. GIUSTO	Management	For	For
		JOHN C. SHAW	Management	For	For
		JOLENE SYKES SARKIS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



DIGENE CORPORATION			DIGE	Annual Meeting Date:
Issuer: 253752		ISIN:			10/26/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		EVAN JONES	Management	For	For
		FRANK J. RYAN	Management	For	For
		CYNTHIA L. SULLIVAN	Management	For	For
02	AMEND DIRECTOR STOCK OPTION PLAN		Management	For	For
03	DIRECTOR STOCK OPTION PLAN		Management	For	For
04	INCENTIVE STOCK OPTIONS		Management	For	For



CHECKFREE CORPORATION			CKFR	Annual Meeting Date:
Issuer: 162813		ISIN:			11/02/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management
		WILLIAM P. BOARDMAN	Management	Withheld	Against
		JAMES D. DIXON	Management	For	For



HOLOGIC, INC.			HOLX	Annual Meeting Date:
Issuer: 436440		ISIN:			11/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For



THE ADVISORY BOARD COMPANY			ABCO	Annual Meeting Date:
Issuer: 00762W		ISIN:			11/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		MARC N. CASPER	Management	For	For
		KELT KINDICK	Management	For	For
		JOSEPH E. LAIRD, JR.	Management	For	For
		MARK R. NEAMAN	Management	For	For
		LEON D. SHAPIRO	Management	For	For
		FRANK J. WILLIAMS	Management	For	For
		LEANNE M. ZUMWALT	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



RESMED INC			RMD	Annual Meeting Date:
Issuer: 761152		ISIN:			11/18/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		DONAGH MCCARTHY	Management	For	For
		CHRISTOPHER ROBERTS	Management	For	For
		JOHN WAREHAM	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



FINANCIAL FEDERAL CORPORATION			FIF	Annual Meeting Date:
Issuer: 317492		ISIN:			12/13/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		LAWRENCE B. FISHER	Management	For	For
		MICHAEL C. PALITZ	Management	For	For
		THOMAS F. ROBARDS	Management	For	For
		PAUL R. SINSHEIMER	Management	For	For
		LEOPOLD SWERGOLD	Management	For	For
		H.E. TIMANUS, JR.	Management	For	For
		MICHAEL J. ZIMMERMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



WMS INDUSTRIES INC.			WMS	Annual Meeting Date:
Issuer: 929297		ISIN:			12/15/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		LOUIS J. NICASTRO	Management	For	For
		BRIAN R. GAMACHE	Management	For	For
		NORMAN J. MENELL	Management	For	For
		HAROLD H. BACH JR.	Management	For	For
		WILLIAM C. BARTHOLOMAY	Management	For	For
		NEIL D. NICASTRO	Management	For	For
		EDWARD W. RABIN JR.	Management	For	For
		HARVEY REICH	Management	For	For
		IRA S. SHEINFELD	Management	For	For
		WILLIAM J. VARESCHI JR.	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



FACTSET RESEARCH SYSTEMS INC.			FDS	Annual Meeting Date:
Issuer: 303075		ISIN:			12/20/2005
SEDOL:


Vote Group: GLOBAL

Proposal			Proposal	Vote	For or Against
Number	Proposal		Type	Cast	Mgmt.

01	ELECTION OF DIRECTORS		Management	For
		MICHAEL F. DICHRISTINA	Management	For	For
		WALTER F. SIEBECKER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For



Vote Summary Report
Jan 01, 2006 - Mar 31, 2006

2 Ivy Small Cap Growth

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


02/08/06 - A	Andrew Corp. ANDW		034425108			12/09/05	463,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


02/28/06 - A	Headwaters Incorporated HW		42210P102			01/11/06	236,050
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


02/28/06 - A	Hologic, Inc. HOLX		436440101			01/06/06	281,900
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt


01/26/06 - A	Jacobs Engineering Group Inc. JEC		469814107			12/20/05	97,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


02/16/06 - A	Kronos Inc. KRON		501052104			12/19/05	217,150
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt
	3	Ratify Auditors		For	For		Mgmt


03/16/06 - A	Martek Biosciences Corp. MATK		572901106			01/20/06	337,322
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt


02/22/06 - A	Microsemi Corp. MSCC		595137100			01/06/06	240,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


03/24/06 - A	Quiksilver, Inc. ZQK		74838C106			01/27/06	583,400
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Douglas K. Ammerman --- For
	1.2	Elect Director William M. Barnum, Jr. --- For
	1.3	Elect Director Laurent Boix-Vives --- For
	1.4	Elect Director Charles E. Crowe --- For
	1.5	Elect Director Charles S. Exon --- For
	1.6	Elect Director Michael H. Gray --- For
	1.7	Elect Director Timothy M. Harmon --- For
	1.8	Elect Director Bernard Mariette --- For
	1.9	Elect Director Robert B. McKnight, Jr. --- For
	1.10	Elect Director Franck Riboud --- Against
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Approve Restricted Stock Plan		For	For		Mgmt


01/27/06 - A	The Shaw Group Inc. SGR		820280105			12/01/05	380,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Approve Non-Employee Director Stock Option Plan		For	For		Mgmt
	5	Other Business		For	Against		Mgmt



Vote Summary Report
Apr 01, 2006 - Jun 30, 2006

2 Ivy Small Cap Growth

Mtg	Company/			Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues		Security	Rec	Cast	Date	Prpnent	Voted


05/09/06 - A	ADTRAN, Inc. ADTN		00738A106			03/14/06	336,550
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	Against		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt


06/15/06 - A	Affymetrix Inc. AFFX		00826T108			04/20/06	212,300
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Stephen P.A. Fodor, Ph.D. --- For
	1.2	Elect Director Paul Berg, Ph.D. --- For
	1.3	Elect Director Susan D. Desmond-Hellmann, M.D. --- Withhold
	1.4	Elect Director John D. Diekman, Ph.D. --- For
	1.5	Elect Director Vernon R. Loucks, Jr. --- For
	1.6	Elect Director David B. Singer --- For
	1.7	Elect Director Robert H. Trice, Ph.D. --- For
	1.8	Elect Director John A. Young --- For
	2	Ratify Auditors		For	For		Mgmt


05/30/06 - A	Allscripts Healthcare Solutions, Inc. MDRX		01988P108			04/12/06	462,000
	1	Elect Directors		For	For		Mgmt
	2	Approve Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/04/06 - A	American Medical Systems Holdings, Inc. AMMD		02744M108			03/22/06	372,400
	1	Elect Directors		For	For		Mgmt
	2	Reduce Authorized Common and Preferred Stock		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/24/06 - A	Avid Technology, Inc. AVID		05367P100			03/28/06	295,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Other Business		For	Against		Mgmt


06/14/06 - A	Blackboard Inc BBBB		091935502			04/17/06	286,100
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/05/06 - A	Cameron International Corp CAM		216640102			03/10/06	220,700
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Change Company Name		For	For		Mgmt
	4	Amend Omnibus Stock Plan		For	For		Mgmt


05/26/06 - A	Cerner Corp. CERN		156782104			03/31/06	174,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt


04/26/06 - A	City National Corp. CYN		178566105			03/01/06	116,450
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/25/06 - S	Cognex Corp. CGNX		192422103			03/03/06	438,850
	1	Elect Directors		For	For		Mgmt


05/22/06 - A	Connetics Corp. CNCT		208192104			03/24/06	327,100
	1	Elect Directors		For	For		Mgmt
	2	Approve/Amend Executive Incentive Bonus Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


06/08/06 - A	CoStar Group, Inc. CSGP		22160N109			04/17/06	154,500
	1	Elect Directors		For	For		Mgmt
	2	Approve Qualified Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/11/06 - A	Digitas, Inc DTAS		25388K104			03/16/06	836,900
	1	Elect Director Gregor S. Bailar		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Emageon Inc. EMAG		29076V109			04/21/06	468,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/08/06 - A	Evergreen Solar, Inc. ESLR		30033R108			04/10/06	225,000
	1	Ratify Auditors		For	For		Mgmt


04/26/06 - A	FLIR Systems, Inc. FLIR		302445101			03/01/06	586,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/28/06 - A	Fox Hollow Technologies, Inc. FOXH		35166A103			05/10/06	392,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/18/06 - A	General Cable Corp. BGC		369300108			03/20/06	339,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


04/28/06 - A	Guitar Center, Inc. GTRC		402040109			03/10/06	169,900
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/08/06 - A	Helix Energy Solutions Inc HELX		42330P107			03/21/06	230,500
	1	Elect Directors		For	For		Mgmt


05/18/06 - A	Henry Schein, Inc. HSIC		806407102			04/07/06	101,700
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Stanley M. Bergman --- For
	1.2	Elect Director Gerald A. Benjamin --- For
	1.3	Elect Director James P. Breslawski --- For
	1.4	Elect Director Mark E. Mlotek --- For
	1.5	Elect Director Steven Paladino --- For
	1.6	Elect Director Barry J. Alperin --- For
	1.7	Elect Director Paul Brons --- For
	1.8	Elect Director Dr. Margaret A. Hamburg --- For
	1.9	Elect Director Donald J. Kabat --- For
	1.10	Elect Director Philip A. Laskawy --- For
	1.11	Elect Director Norman S. Matthews --- For
	1.12	Elect Director Marvin H. Schein --- Withhold
	1.13	Elect Director Dr. Louis W. Sullivan --- For
	2	Ratify Auditors		For	For		Mgmt


05/16/06 - A	Hydril Company HYDL		448774109			03/17/06	71,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/23/06 - A	IntraLase Corp. ILSE		461169104			04/17/06	482,900
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/31/06 - A	MicroStrategy Inc. MSTR		594972408			04/17/06	115,168
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/08/06 - A	NAUTILUS INC NLS		63910B102			03/09/06	751,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Nelnet Inc NNI		64031N108			03/27/06	236,400
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director James P. Abel --- For
	1.2	Elect Director Don R. Bouc --- For
	1.3	Elect Director Stephen E. Butterfield --- For
	1.4	Elect Director Michael S. Dunlap --- For
	1.5	Elect Director Thomas E. Henning --- For
	1.6	Elect Director Arturo R. Moreno --- Withhold
	1.7	Elect Director Brian J. O'Connor --- For
	1.8	Elect Director Michael D. Reardon --- For
	1.9	Elect Director James H. Van Horn --- For
	2	Ratify Auditors		For	For		Mgmt
	3	Approval of Employee Stock Purchase Loan Plan		For	For		Mgmt
	4	Increase Authorized Common Stock		For	For		Mgmt


05/04/06 - A	Newfield Exploration Co. NFX		651290108			03/07/06	236,800
	1	Elect Directors		For	For		Mgmt
	2	Amend Non-Employee Director Restricted Stock Plan		For	For		Mgmt
	3	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/25/06 - A	Nu Skin Enterprises Inc. NUS		67018T105			03/27/06	363,700
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


05/09/06 - A	O'Reilly Automotive, Inc. ORLY		686091109			02/28/06	337,300
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/16/06 - A	Orasure Technologies Inc OSUR		68554V108			03/27/06	471,400
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/05/06 - A	P.F. Chang's China Bistro, Inc. PFCB		69333Y108			03/14/06	131,600
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Adjourn Meeting		For	Against		Mgmt


05/25/06 - A	Panera Bread Company PNRA		69840W108			03/27/06	66,700
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt


05/18/06 - A	Perini Corp. PCR		713839108			03/29/06	237,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	Against		Mgmt


05/24/06 - A	Range Resources Corporation RRC		75281A109			03/31/06	242,600
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


06/08/06 - A	Scientific Games Corporation SGMS		80874P109			04/20/06	324,200
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/03/06 - A	Strayer Education, Inc. STRA		863236105			03/17/06	95,800
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Repricing of Options		For	For		Mgmt
	4	Amend Omnibus Stock Plan		For	For		Mgmt


04/27/06 - A	SYMMETRY MEDICAL INC SMA		871546206			03/16/06	311,900
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Nonqualified Employee Stock Purchase Plan		For	For		Mgmt


05/18/06 - A	Trimble Navigation Ltd. TRMB		896239100			03/20/06	338,900
	1	Elect Directors		For	For		Mgmt
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Amend Qualified Employee Stock Purchase Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt


06/12/06 - A	Uti Worldwide Inc. UTIW		G87210103			05/16/06	290,700
		Meeting for Holders of ADRs
	1	Elect Directors		For	For		Mgmt
	2	TO RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS OF THE COMPANY.		For	For		Mgmt


06/05/06 - A	VCA Antech, Inc. WOOF		918194101			04/07/06	166,850
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt


05/11/06 - A	VOLCOM INC VLCM		92864N101			03/20/06	314,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


06/07/06 - A	Wellcare Health Plans Inc WCG		94946T106			04/20/06	238,100
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt


05/11/06 - A	West Corporation WSTC		952355105			03/17/06	164,400
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	Against		Mgmt


05/05/06 - A	Western Gas Resources, Inc. WGR		958259103			03/14/06	178,300
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt


05/09/06 - A	Zebra Technologies Corp. ZBRA		989207105			03/14/06	196,500
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

IVY FUNDS, INC.

(Registrant)

By: /s/Kristen A. Richards

Kristen A. Richards, Vice President and Secretary

Date: August 31, 2006

By: /s/Henry J. Herrmann

Henry J. Herrmann, President and Principal Executive Officer

Date: August 31, 2006

Ivy Funds N-PXAnnual report of proxy voting record