IMCEX — Nomura Mid Cap Growth Fund
Data updated: 2026-08-26
IMCEX — Nomura Mid Cap Growth Fund. United States Mid Cap Growth Equity · $3.00B AUM · 1.23% expense ratio. Holdings, fees, performance and SEC filings.
IMCEX Fund Overview
IMCEX — Nomura Mid Cap Growth Fund is a US mutual fund managed by Ivy Funds, categorised as United States Mid Cap Growth 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: United States Mid Cap Growth Equity
- Assets under management: $3.00B
- 1-year return: -26.2%
- Ticker: IMCEX
- SEC CIK: 0000883622
- SEC series ID: S000006293
- Share class ID: C000043906
IMCEX Investment Objective and Strategy
Nomura Mid Cap Growth 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 growth of capital.
Principal investment strategy
Ivy Mid Cap Growth Fund seeks to achieve its objective by investing primarily in common stocks of mid-capitalization companies that IICO believes are high quality and/or offer above-average growth potential. Under normal circumstances, the Fund invests at least 80% of its net assets in the securities of mid-capitalization companies, which, for purposes of this Fund, typically are companies with market capitalizations within the range of companies in the Russell Midcap Growth Index at the time of acquisition. As of June 30, 2018 (the quarter-end closest to the indexs rebalance), this range of market capitalizations was between approximately $2.44 billion and $35.58 billion. In selecting securities for the Fund, IICO primarily emphasizes a bottom-up (researching individual issuers) approach and focuses on companies it believes have the potential for strong growth, increasing profitability, stable and sustainable revenue and earnings streams, attractive valuations and sound capital structures.
IICO may look at a number of factors in its consideration of a company, such as: new or innovative products or services; adaptive or creative management; strong financial and operational capabilities to sustain multi-year growth; stable and consistent revenue, earnings, and cash flow; strong balance sheet; market potential; and profit potential. Part of IICOs investment process also includes a review of the macroeconomic environment, with a focus on factors such as interest rates, inflation, consumer confidence and corporate spending. Generally, in determining whether to sell a security, IICO considers many factors, including what it believes to be excessive valuation given company growth prospects, deterioration of fundamentals, weak cash flow to support shareholder returns, and unexpected and poorly explained management changes.
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.
IMCEX Holdings
Top 10 holdings of Nomura Mid Cap Growth Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Cloudflare, Inc. | 3.65% |
| Idexx Laboratories, Inc. | 3.50% |
| Monolithic Power Systems, Inc. | 3.36% |
| Snowflake, Inc. | 2.82% |
| Fastenal Company | 2.55% |
| Datadog, Inc. | 2.51% |
| Sterling Infrastructure, Inc. | 2.49% |
| Bio-Techne Corp. | 2.46% |
| Edwards Lifesciences Corp. | 2.46% |
| Novanta, Inc. | 2.38% |
IMCEX Portfolio Allocation
Asset-class allocation of Nomura Mid Cap Growth Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.0% |
| Cash & Equivalents | 1.1% |
IMCEX Performance
Total returns for IMCEX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -26.2% |
| 3 years (annualised) | -9.9% |
IMCEX Risk Information
Risk metrics for IMCEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.7%
IMCEX Costs and Fees
IMCEX costs about $123 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.23%
- Gross expense ratio: 1.32%
- Portfolio turnover: 43%
- Brokerage commissions: 2.69 bps of average net assets (SEC N-CEN)
IMCEX Cashflows
Over the 12 months to 2026-06, Nomura Mid Cap Growth Fund had net outflows of $1.76B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$101.29M |
| 2026-05 | −$125.22M |
| 2026-04 | −$140.83M |
| 2026-03 | −$147.84M |
| 2026-02 | −$157.80M |
| 2026-01 | −$134.40M |
IMCEX Debt Constituents
No individual debt constituents are reported in Nomura Mid Cap Growth Fund's latest SEC N-PORT filing.
IMCEX Prospectus and SEC Filings
Official Nomura Mid Cap Growth 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 United States Mid Cap Growth 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.