Exhibit 9(ll)
IVY FUND
ADDENDUM TO
ADMINISTRATIVE SERVICES AGREEMENT
Ivy Developing Nations Fund
Ivy South America Fund
Ivy US Emerging Growth Fund
AGREEMENT made as of the 20th day of January, 1998 by and
between Ivy Fund (the "Trust") and Mackenzie Investment
Management Inc. ("MIMI").
WHEREAS, the Trust is an open-end investment company,
organized as a Massachusetts business trust, and consists of such
separate investment portfolios as have been or may be established
and designated by the Trustees of the Trust from time to time;
WHEREAS, several classes of shares are offered to investors
with respect to each investment portfolio of the Trust;
WHEREAS, the Trust has adopted a Master Administrative
Services Agreement dated September 1, 1992 (the "Master Services
Agreement"), pursuant to which the Trust has appointed MIMI to
provide the administrative services specified in the Master
Services Agreement; and
WHEREAS, the Trustees of the Trust, by written consent dated
January 15, 1998, duly approved an amendment to the Trust's
Agreement and Declaration of Trust to redesignate each of Ivy
Emerging Growth Fund, Ivy New Century Fund and Ivy Latin America
Strategy Fund (each a "Fund" and, collectively, the "Funds") as
Ivy US Emerging Growth Fund, Ivy Developing Nations Fund and Ivy
South America Fund, respectively, and to change the names of each
Fund's classes to reflect such redesignations.
NOW THEREFORE, the Trust and MIMI hereby agree as follows:
Effective as of January 20, 1998, the date
that supplements to the Registration
Statement pertaining to the redesignation of
the Funds were filed with the Securities and
Exchange Commission pursuant to Rule 497(e)
under the Securities Act of 1933, all
references to Ivy Emerging Growth Fund, Ivy
New Century Fund and Ivy Latin America
Strategy Fund in the Master Services
Agreement and any addenda, amendments or
supplements thereto shall hereafter apply to
Ivy US Emerging Growth Fund, Ivy Developing
Nations Fund and Ivy South America Fund,
respectively.
IN WITNESS WHEREOF, the Trust and MIMI have adopted this Addendum
as of the date first set forth above.
IVY FUND
By: XXXXX X. XXXXXXX, President
MACKENZIE INVESTMENT MANAGEMENT INC.
By: XXXXXXX X. XXXXXX, President