The 20 Rising Stars of Retirement Plan Advisory 2008

SPONSORED ARTICLE One side of global rebalancing is that the U.S. will begin repaying the tremendous debts it has built up over the past several years – and a lot of that debt is owed to foreigners. We already see initial evidence of this in terms of the merchandise trade and current account deficits. While some see this trend as a positive, which it will be once it runs its course, in the near-term it means pain for the U.S. economy as growth remains slow due to reduced consumption and increased savings. Thus the S&P 500’s reign as a linchpin of asset allocation will, in our view, become less and less valid over time The current U.S. economic situation contrasts with what we hear around the world. Whenever we have the chance, we ask people: • How much have things changed in recent years? • What is the biggest change you see? The uniformity of the answers surprises us – across countries, across social classes and across occupations. People in developing markets have more money than they ever have, and they are spending it. This is manifested in the number of shopping malls under construction, the ubiquity of cell phones, the rising number of cars in the streets and housing. To sum up, we are big believers that an investment strategy based on absolute return deserves serious consideration as a core element of a well-diversified portfolio. We think flexible asset allocation lets active portfolio management be genuinely proactive. As plan sponsors, if you can offer a core, multi-asset class portfolio with maximum flexibility that targets the best opportunities anywhere, we think you may have a distinct advantage in helping your participants gain better returns during exceptionally volatile periods like we have seen this year. The opinions expressed in the above article are those of Ivy Investment Management and are current as of August 2008. All views are subject to change at any time, based on market and other conditions, and no forecast can be guaranteed. Past performance is not a guarantee of future results. About the Company: The Ivy Funds family, comprising more than two dozen mutual funds, offers a broad lineup covering all major asset categories, including international and domestic equity funds, specialty funds, fixed income funds and money market funds. Ivy Funds, with more than $28 billion under management, was named the second fastest-growing fund family in 2007 among families with at least $5 billion in total assets under management, according to Financial Research Corporation. For more information, please visit www.ivyfunds.com or call the Ivy Funds sales desk at (800) 532-2780. http://www.ivyfunds.com http://www.ivyfunds.com http://www.ivyfunds.com

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The 20 Rising Stars of Retirement Plan Advisory 2008 Contents Doing Well By Doing Good The Post-PPA Bounce Automatic Enrollment vs. Managed Account Unfair Advantage? You Bet The New World Order 20 Rising Stars of Retirement Plan Advisory Mentors’ Page

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