Global Equity Income
Data updated: 2024-05-28
C000017173 — Global Equity Income. Global (incl. US) Large Cap Blend / Core Equity · $40.97M AUM. Holdings, fees, performance and SEC filings.
C000017173 Fund Overview
Global Equity Income is a US mutual fund managed by Ivy Variable Insurance Portfolios, categorised as Global (incl. US) Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ivy Variable Insurance Portfolios
- Category: Global (incl. US) Large Cap Blend / Core Equity
- Assets under management: $40.97M
- 1-year return: 12.7%
- SEC CIK: 0000810016
- SEC series ID: S000006239
- Share class ID: C000017173
C000017173 Investment Objective and Strategy
Global Equity Income describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ivy Variable Insurance Portfolios.
Investment objective
To seek to provide total return through a combination of current income and capital appreciation.
Principal investment strategy
Ivy VIP Global Equity Income seeks to achieve its objective by investing primarily in equity securities that are issued by companies of any size located largely in developed markets around the world, that Ivy Investment Management Company (IICO), the Portfolios investment manager, believes will be able to generate a reasonable level of current income for investors given current market conditions, and that demonstrate favorable prospects for total return. The Portfolio focuses on companies that IICO believes have the ability to maintain and/or grow their dividends while providing capital appreciation over the long-term. The Portfolio typically holds a limited number of stocks (generally 50 to 70). Under normal circumstances, the Portfolio invests at least 80% of its net assets in equity securities.
For this purpose, such equity securities consist primarily of dividend-paying common stocks across the globe. Although the Portfolio invests primarily in large-capitalization companies (typically companies with market capitalizations of at least $10 billion at the time of acquisition), it may invest in companies of any size. Under normal circumstances, the Portfolio invests at least 40% (or, if IICO deems it warranted by market conditions, at least 30%) of its total assets in securities of non-U.S. issuers. In selecting securities for the Portfolio, IICO uses a bottom-up (researching individual issuers) stock selection process. IICO seeks to identify higher-quality companies that it believes are reasonably-valued, have a strong likelihood of maintaining and/or growing their dividend, and have a relatively stable to improving fundamental outlook, relative to market expectations.
IICO considers an analysis of sectors/industries and geographical areas (when relevant) when determining the attractiveness of names and weightings of sectors, and to a lesser degree countries. IICO also considers several other factors, including a companys history of fundamentals, ability to sustain its business model, growth potential, management proficiency and competitive environment. Many of the companies in which the Portfolio may invest have diverse operations, with products or services in foreign markets. Therefore, the Portfolio may have indirect exposure to various additional foreign markets through investments in these companies, even if the Portfolio is not invested directly in such markets. In an effort to manage foreign currency exposure, the Portfolio may use forward foreign currency contracts to manage the Funds exposure to various foreign currencies and the U.S.
dollar. Generally, in determining whether to sell a security, IICO uses the same type of analysis that it uses in buying securities of that type. For example, IICO may sell a security if it believes the security no longer offers attractive current income prospects or significant growth potential, if it believes the management of the company has weakened, and/or there exists political or economic instability in the issuers country. IICO also may sell a security to reduce the Portfolios holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
C000017173 Holdings
Top 10 holdings of Global Equity Income by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Microsoft Corp | 5.51% |
| Amazon.com Inc | 3.54% |
| NVIDIA Corp | 3.30% |
| Costco Wholesale Corp | 3.16% |
| Tsmc | 3.13% |
| Alphabet Inc | 3.02% |
| Casey's General Stores Inc | 2.92% |
| L'Oreal SA | 2.76% |
| Alimentation Couche-Tard Inc | 2.68% |
| Airbus SE | 2.64% |
C000017173 Portfolio Allocation
Asset-class allocation of Global Equity Income by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.9% |
| Cash & Equivalents | 0.8% |
C000017173 Performance
Total returns for C000017173 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 12.7% |
| 3 years (annualised) | 3.3% |
C000017173 Risk Information
Risk metrics for C000017173, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.3%
C000017173 Costs and Fees
C000017173 costs about $104 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.04%
- Gross expense ratio: 1.07%
- Portfolio turnover: 47%
- Brokerage commissions: 6.14 bps of average net assets (SEC N-CEN)
C000017173 Cashflows
Over the 12 months to 2024-03, Global Equity Income had net inflows of $148.49M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-03 | −$759.37K |
| 2024-02 | −$596.66K |
| 2024-01 | −$506.62K |
| 2023-12 | $812.53K |
| 2023-11 | $774.47K |
| 2023-10 | $439.98K |
C000017173 Debt Constituents
No individual debt constituents are reported in Global Equity Income's latest SEC N-PORT filing.
C000017173 Prospectus and SEC Filings
Official Global Equity Income filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-04-28
- Prospectus (485BPOS) — filed 2022-08-05
- Prospectus (485BPOS) — filed 2021-04-29
- Portfolio holdings (N-PORT) — filed 2024-05-28
- Portfolio holdings (N-PORT) — filed 2024-02-23
- Portfolio holdings (N-PORT) — filed 2023-11-28
- Annual census (N-CEN) — filed 2024-03-13
- Annual census (N-CEN) — filed 2023-03-15
Related Funds
Other Global (incl. US) Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.