Pathfinder Moderately Conservative - Managed Volatility
Data updated: 2026-08-24
C000129562 — Pathfinder Moderately Conservative - Managed Volatility. Holdings, fees, performance and SEC filings.
C000129562 Fund Overview
Pathfinder Moderately Conservative - Managed Volatility is a US mutual fund managed by Ivy Variable Insurance Portfolios, categorised as United States Multi-Cap / All-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: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $19.19M
- 1-year return: 12.6%
- SEC CIK: 0000810016
- SEC series ID: S000041734
- Share class ID: C000129562
C000129562 Investment Objective and Strategy
Pathfinder Moderately Conservative - Managed Volatility describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ivy Variable Insurance Portfolios.
Investment objective
Nomura VIP Pathfinder Moderately Conservative Managed Volatility Series seeks to provide total return consistent with a moderately conservative level of risk as compared to the other Nomura VIP Pathfinder Managed Volatility Series, while seeking to manage volatility of investment return.
Principal investment strategy
Nomura VIP Pathfinder Moderately Conservative Managed Volatility Series seeks to achieve its objective by investing primarily in various Nomura Funds (Underlying Funds) and by utilizing a volatility management strategy that is intended to manage volatility of the Series equity returns. The Manager manages the Series investments in the Underlying Funds and other assets that are not part of the volatility management strategy. An investment subadviser, Securian Asset Management, Inc. (Securian AM), manages the volatility management strategy of the Series. Under normal circumstances, the Manager allocates approximately 90- 98 % (although such amounts may be higher than 98 %, depending upon market conditions) of the Series assets among asset classes so that approximately 35-65% of the value of this portion of the Series assets are in equities (with a maximum of 20% allocated to international/global stocks) and approximately 35-65% of this portion of the Series assets are in fixed income (including cash).
The Series implements this allocation by investing primarily in the Underlying Funds. The Series typically will invest in Standard Class shares of an Underlying Fund. To the extent an Underlying Fund does not offer Standard Class shares, the Series generally will invest in Service Class shares of such Underlying Fund. Shorter-term allocations may vary from the target ranges described above. For the most current list of Underlying Funds in which the Series invests, please see the Series most recent shareholder report or Series holdings disclosures. For more information about the investment strategies and risks of an Underlying Fund, see such Underlying Funds prospectus. The Series allocates its remaining assets to a volatility management strategy that is intended to manage the volatility of the Series equity returns in an attempt to stabilize the equity returns of the Series.
Securian AM does not intend to attempt to manage the volatility of the Series fixed-income returns. Securian AM executes this volatility management strategy by increasing or reducing, through the use of exchange-traded futures contracts on certain equity indexes, the Series exposure to equity assets. For example, when the recent historical volatility of the equity portion of the Series is relatively high, Securian AM will seek to reduce the Series exposure to equity assets by either selling exchange-traded futures contracts (taking short positions in such contracts) or reducing its long positions in exchange-traded futures contracts. When the recent historical volatility of the equity portion of the Series is relatively low, Securian AM will seek to increase the Series exposure to equity assets by either purchasing exchange-traded futures contracts (taking long positions in such contracts) or reducing its short positions in exchange-traded futures contracts.
Volatility is a statistical measurement of the magnitude of fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. The amount of Series assets allocated to the volatility management strategy typically will, under normal circumstances, range between 2 -10% (although such amounts may be lower than 2 %, depending upon market conditions) of the market value of the Series assets, which will consist primarily of assets maintained as margin for those futures contracts and also may include cash held for use in the strategy. Shorter-term allocations may vary from this 2 -10% range. In order to maintain its derivatives positions in the volatility management strategy, the Manager may, from time to time, sell certain Series assets, which may include redemption of shares of Underlying Funds.
The use of exchange-traded futures contracts may have the effect of introducing leverage into the Series, since the amount required to enter into such contracts is small in relation to the investment exposure of such contracts. Although the amount of the Series assets allocated to the volatility management strategy typically will range between 2 -10%, the volatility management strategy may seek to increase or decrease the Series exposure to equity assets by a substantial amount when the recent historical volatility in the equity portion of the Series is relatively high or low and create investment exposure greater than the amount of assets used to implement the strategy. However, the Series overall exposure to equity assets as a result of investing in exchange-traded futures contracts within the volatility management strategy typically will not exceed the maximum equity allocation described above or decrease the Series overall exposure to equity assets below 10% of the Series assets.
These allocations are projections only and may be changed by the Manager from time to time. Actual allocations are not limited to the ranges described above and may vary. The Manager monitors the Series holdings and cash flow and will periodically adjust the Series asset allocation to realign it with the Series risk profile and investment strategies. The Manager evaluates the Series asset allocation on an ongoing basis in view of its risk profile and strategies. This means that allocation changes will be made as needed in the view of the Manager. The Manager applies a long-term investment horizon with respect to the Series; therefore, allocation changes may not be made in response to short-term market conditions. The Series does not intend to actively trade among the Underlying Funds, nor does it intend to attempt to capture short-term market opportunities.
By owning shares of the Underlying Funds, the Series indirectly holds a diversified mixture of stocks of US and, to a lesser extent, international/global stocks that typically are large-capitalization; the Series also indirectly holds a mixture of investment-grade corporate bonds, US government securities and, to a lesser extent, a mixture of non-investment-grade corporate bonds and money market instruments. The Series is intended for investors who have a lower tolerance for risk but seek to manage volatility of their investment and whose primary goal is income, who have a shorter time horizon or who are willing to accept some amount of market volatility in exchange for greater potential income and growth.
C000129562 Holdings
Top 10 holdings of Pathfinder Moderately Conservative - Managed Volatility by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Ivy Variable Insurance Portfolios | 24.77% |
| Ivy Variable Insurance Portfolios | 17.82% |
| Ivy Variable Insurance Portfolios | 13.31% |
| Ivy Variable Insurance Portfolios | 12.47% |
| Nomura ETF Trust | 7.84% |
| Nomura ETF Trust | 7.29% |
| Delaware VIP Trust | 6.32% |
| Ivy Variable Insurance Portfolios | 4.03% |
| Nomura ETF Trust | 1.93% |
| Ivy Variable Insurance Portfolios | 1.42% |
C000129562 Portfolio Allocation
Asset-class allocation of Pathfinder Moderately Conservative - Managed Volatility by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.2% |
| Cash & Equivalents | 1.7% |
C000129562 Performance
Total returns for C000129562 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 7.5% |
| 1 year | 12.6% |
| 3 years (annualised) | 9.7% |
| 5 years (annualised) | 5.1% |
C000129562 Risk Information
Risk metrics for C000129562, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.0%
C000129562 Costs and Fees
C000129562 costs about $98 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.98%
- Gross expense ratio: 1.32%
- Portfolio turnover: 46%
- Brokerage commissions: 0.20 bps of average net assets (SEC N-CEN)
C000129562 Cashflows
Over the 12 months to 2026-06, Pathfinder Moderately Conservative - Managed Volatility had net outflows of $5.31M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$380.90K |
| 2026-05 | $320.16K |
| 2026-04 | −$242.60K |
| 2026-03 | −$584.20K |
| 2026-02 | −$582.00K |
| 2026-01 | −$825.85K |
C000129562 Debt Constituents
No individual debt constituents are reported in Pathfinder Moderately Conservative - Managed Volatility's latest SEC N-PORT filing.
C000129562 Prospectus and SEC Filings
Official Pathfinder Moderately Conservative - Managed Volatility filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other United States Multi-Cap / All-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.