IIFBX — Nomura International Core Equity Fund
Data updated: 2026-08-26
IIFBX — Nomura International Core Equity Fund. Developed ex-US Mid Cap Blend / Core Equity · $1.37B AUM. Holdings, fees, performance and SEC filings.
IIFBX Fund Overview
IIFBX — Nomura International Core Equity Fund is a US mutual fund managed by Ivy Funds, categorised as Developed ex-US Mid 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 Funds
- Category: Developed ex-US Mid Cap Blend / Core Equity
- Assets under management: $1.37B
- 1-year return: -0.5%
- Ticker: IIFBX
- SEC CIK: 0000883622
- SEC series ID: S000024840
- Share class ID: C000073957
IIFBX Investment Objective and Strategy
Nomura International Core Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ivy Funds.
Investment objective
To seek to provide capital growth and appreciation.
Principal investment strategy
Ivy International Core Equity Fund invests, under normal circumstances, at least 80% of its net assets in equity securities. Such companies primarily will be located in, or principally traded in, developed European and Asian/Pacific Basin markets. In seeking to enhance potential return, the Fund also may invest in issuers located or doing business in emerging market countries, which generally will include the more developed of the emerging market countries. The Fund also may invest in depositary receipts of foreign issuers. IICO strives to identify dislocations and valuation discrepancies in the international financial markets in an effort to find what it believes are mispriced countries, sectors, currencies and, ultimately, stocks with attractive valuations relative to their potential and to their peer group.
IICO uses a disciplined approach while looking for investment opportunities around the world, preferring what it believes are cash-generating and reasonably valued companies that are exposed to global investment themes which IICO believes will yield above-average returns. IICO combines a top-down (assessing the market environment), macro approach with a bottom-up (researching individual issuers) stock selection process, and uses a combination of country analysis, sector and industry dynamics, and individual stock selection. As noted, IICO begins its investment process by establishing a top-down global macro view which is built by constantly assessing developments in global gross domestic product, business and product cycles, relative valuations and politics around the world. It then overlays various investment themes on top of the macro view in an effort to identify companies, sectors and regions that IICO believes will benefit under its macro view.
IICO next follows a bottom-up approach to its stock selection and evaluates individual companies based on various factors, including: free cash flow, sales growth, financial leverage, and return on invested capital along with various valuation metrics. IICO uses various data and screening services as part of its stock-selection process, primarily to assess return on invested capital and relative valuation. Although the Fund primarily invests in securities issued by large-capitalization companies (typically, companies with capitalizations of at least $10 billion at the time of acquisition), it may invest in securities issued by companies of any size. The Fund may invest up to 100% of its total assets in foreign securities. In an effort to manage foreign currency exposure, the Fund may use forward contracts to either increase or decrease exposure to a given currency.
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 had a change in its top-down view, if it believes the security no longer offers significant return potential, if there exists political or economic instability in the issuers country, if it believes the security is showing signs of deteriorating fundamentals, if there is weak cash flow to support shareholder returns, and/or if there is a change in IICOs macroeconomic perspective. IICO also may sell a security to reduce the Funds holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
IIFBX Holdings
Top 10 holdings of Nomura International Core Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Taiwan Semiconductor Manufacturing Company Ltd. | 9.16% |
| Samsung Electronics Co. Ltd. | 4.06% |
| Asml Holding NV | 4.05% |
| Ing Groep NV | 3.36% |
| Daikin Industries Ltd. | 3.31% |
| Sk Hynix, Inc. | 3.23% |
| Smc Corp. (jp) | 3.15% |
| Banco Bilbao Vizcaya Argentaria SA | 3.13% |
| Mitsubishi Ufj Financial Group, Inc. | 3.00% |
| Barclays PLC | 2.92% |
IIFBX Portfolio Allocation
Asset-class allocation of Nomura International Core Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.3% |
| Cash & Equivalents | 1.6% |
IIFBX Performance
Total returns for IIFBX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -0.5% |
| 3 years (annualised) | -0.5% |
IIFBX Risk Information
Risk metrics for IIFBX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.1%
IIFBX Costs and Fees
IIFBX costs about $208 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.08%
- Gross expense ratio: 2.52%
- Portfolio turnover: 108%
- Brokerage commissions: 18.92 bps of average net assets (SEC N-CEN)
IIFBX Cashflows
Over the 12 months to 2026-06, Nomura International Core Equity Fund had net outflows of $232.75M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$21.37M |
| 2026-05 | −$10.91M |
| 2026-04 | −$18.56M |
| 2026-03 | −$30.39M |
| 2026-02 | −$17.08M |
| 2026-01 | −$25.48M |
IIFBX Debt Constituents
No individual debt constituents are reported in Nomura International Core Equity Fund's latest SEC N-PORT filing.
IIFBX Prospectus and SEC Filings
Official Nomura International Core Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-07-29
- Prospectus (485BPOS) — filed 2025-07-29
- Prospectus supplement (497) — filed 2024-08-02
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-06-12
- Annual census (N-CEN) — filed 2025-06-12
Related Funds
Other Developed ex-US Mid 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.