EXHIBIT 9(ee)
IVY FUND
FUND ACCOUNTING SERVICES AGREEMENT SUPPLEMENT
Ivy Pan-Europe Fund
AGREEMENT made as of the twenty-ninth day of April, 1997, 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 Pan-Europe Fund (the "Fund") is a separate
investment portfolio 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 Fund, and
the Manager hereby acknowledges that the Master Agreement shall
pertain to the Fund, 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 the Fund.
3. As provided in the Master Agreement and subject to
further conditions as set forth therein, the 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 the 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 the Fund, without payment of any
penalty, by the 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 the Fund; provided, that in
the case of termination by the 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 Pan-Europe Fund
By: ___________________________________
Xxxxx X. Xxxxxxx, 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 Pan-Europe $1,250 $2,500 $5,000 $6,500
Fund
