Exhibit (h)(56)
IVY FUND
FORM OF
FUND ACCOUNTING SERVICES AGREEMENT SUPPLEMENT
Xxx Xxxxxxx Value Fund
Ivy Next Wave Internet Fund
AGREEMENT made as of the ___th day of _________, 2000, by and between
Ivy Fund (the "Trust") and Mackenzie Investment Management Inc. (the "Agent").
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, a separate class of shares of the Trust is offered to
investors with respect to each investment portfolio;
WHEREAS, the Trust has adopted a Master Fund Accounting Services
Agreement dated January 25, 1993 (the "Master Agreement"), pursuant to which the
Trust has appointed the Agent to provide the fund accounting services specified
in the Master Agreement; and
WHEREAS, Xxx Xxxxxxx Value Fund and Ivy Next Wave Internet Fund (each,
a "Fund" and collectively the "Funds") are separate investment portfolios of the
Trust.
NOW, THEREFORE, the Trustees of the Trust hereby take the following
actions, subject to the conditions set forth:
1. As provided for in the Master Agreement, the Trust hereby adopts the
Master Agreement with respect to the Funds, and the Manager hereby acknowledges
that the Master Agreement shall pertain to the Funds, the terms and conditions
of such Master Agreement being hereby incorporated herein by reference.
2. The term "Portfolio" as used in the Master Agreement shall, for
purposes of this Supplement, pertain to each Fund.
3. As provided in the Master Agreement and subject to further
conditions as set forth therein, each Fund shall pay the Agent a monthly fee
based upon the rate(s) set forth in the Fee Schedule attached hereto as Annex 1.
4. This Supplement and the Master Agreement (together, the "Agreement")
shall become effective with respect to the Fund as of the date specified above,
and unless sooner terminated as hereinafter provided, the Agreement shall remain
in effect with respect to a Fund for a period of more than one (1) year from
such date only so long as the continuance is specifically approved at least
annually by the Trust's Board of Trustees, including the vote or written consent
of a majority of the Trust's Independent Trustees (as defined in the Investment
Company Act of 1940, as amended). This Agreement may be terminated with respect
to a Fund, without payment of any penalty, by that Fund upon at least ninety
(90) days' prior written notice to the Agent or by the Agent upon at least
ninety (90) days' prior written notice to that Fund; provided, that in the case
of termination by a Fund, such action shall have been authorized by the Trust's
Board of Trustees, including the vote or written consent of a majority of the
Trust's Independent Trustees.
IVY FUND, on behalf of
Xxx Xxxxxxx Value Fund and
Ivy Next Wave Internet Fund
By: ________________________
Xxxxx X. Xxxxxxxxx, President
MACKENZIE INVESTMENT MANAGEMENT INC.
By: ________________________
Xxxxx X. Xxxxxxx, President
ANNEX 1
FUND ACCOUNTING SERVICES AGREEMENT
FEE SCHEDULE
Based upon assets under management (in millions):
$0-$10 >$10-$40 >$40-$75 Over $75
Xxx Xxxxxxx Value Fund $1,250 $2,500 $5,000 $6,500
Ivy Next Wave Internet Fund $1,250 $2,500 $5,000 $6,500
