EXHIBIT 9(bb)
IVY FUND
FUND ACCOUNTING SERVICES AGREEMENT SUPPLEMENT
Ivy Global Natural Resources Fund
Ivy Asia Pacific Fund
Ivy International Small Companies Fund
AGREEMENT made as of the 31st day of December, 1996, 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, Ivy Global Natural Resources Fund, Ivy Asia Pacific
Fund and Ivy International Small Companies 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 each of the
Funds 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
Ivy Global Natural Resources Fund,
Ivy Asia Pacific Fund and
Ivy International Small Companies Fund
By: ___________________________________
Xxxxxxx X. Xxxxxx, President
MACKENZIE INVESTMENT MANAGEMENT INC.
By: ___________________________________
Xxxxxxx X. Xxxxxx, President
ANNEX 1
FUND ACCOUNTING SERVICES AGREEMENT
FEE SCHEDULE
Based upon assets under management (in millions):
$0-$10 >$10-$40 >$40-$75 Over $75
Ivy Global $1,250 $2,500 $5,000 $6,500
Natural Resources
Fund
Ivy Asia Pacific $1,250 $2,500 $5,000 $6,500
Fund
Ivy International $1,250 $2,500 $5,000 $6,500
Small Companies Fund
