Fund Evaluator:
Nomura Asset Strategy Fund Cl C (WASCX)
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Best Performing in Global Moderate Allocation Over the Last Year
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Fund Details
Nomura Asset Strategy Fund Cl C Overview
Nomura Asset Strategy Fund Cl C (WASCX) is an actively managed Allocation Global Moderate Allocation fund. Nomura launched the fund in 1995.
The investment seeks to provide total return. The fund seeks to achieve its objective by allocating its assets among different asset classes of varying correlation around the globe. The fund’s investment manager primarily invests a portion of the fund’s assets in global equity securities that the manager believes can outperform the fund’s benchmark index, the MSCI ACWI Index, over a full market cycle before taking into account fund expenses (the Equity portion).
About Nomura Asset Strategy Fund Cl C (WASCX)
There are 7 members of the management team with an average tenure of 2.00 years: Jurgen Wurzer (2021), Stefan Löwenthal (2021), Aaron Young (2021), Amy Chang (2026), Chris Parham (2026), Stephen Kotsen (2026), David Crall (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI ACWI GR USD index with a weighting of 100%. Nomura Asset Strategy Fund Cl C has 550 securities in its portfolio. The top 10 holdings constitute 26.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Nomura Asset Strategy Fund Cl C is part of the Allocation global asset class and is within the Allocation fund group. Nomura Asset Strategy Fund Cl C has 28.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 45.9%. There is 25.5% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 20.3% (17.1% domestic bond, 3.1% foreign bond and 0.0% convertible bond). Nomura Asset Strategy Fund Cl C has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $31 million in total assets, which is below the $948 million average for the Global Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
WASCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nomura Asset Strategy Fund Cl C expense ratio is high compared to funds in the Global Moderate Allocation category. Nomura Asset Strategy Fund Cl C has an expense ratio of 1.87%, which is 79% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nomura Asset Strategy Fund Cl C has a portfolio turnover rate of 76%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Global Moderate Allocation category.
Recently, in the month of June 2026, Nomura Asset Strategy Fund Cl C returned -0.5%, which earned it a grade of D, as the Global Moderate Allocation category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Nomura Asset Strategy Fund Cl C has a trailing yield of 1.26%, which is below the 2.64% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Nomura Asset Strategy Fund Cl C Grades
Year to date, the fund has returned 6.1%, 1.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 12.1% over the past year (grade of F), 14.1% over the past three years (grade of A) and 7.3% per year over the past five years (grade of B) and 8.6% per year over the past 10 years (grade of A).
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WASCX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WASCX Return (NAV) | -0.5% | 8.6% | 12.1% | 14.1% | 7.3% | 8.6% |
| WASCX Grade | D | C | F | A | B | A |
| +/- Category | -0.3% | 1.4% | -3.8% | 1.4% | 1.0% | 1.1% |
| Global Moderate Allocation Avg | -0.2% | 7.2% | 15.9% | 12.7% | 6.3% | 7.5% |
| WASCX Tax Cost Ratio | na | na | 2.8% | 2.0% | 2.6% | 2.0% |
WASCX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WASCX Return (NAV) | 6.1% | 15.7% | 13.2% | 14.6% | -14.3% | 12.9% | 12.5% | 20.9% | -6.1% | 17.5% | -6.1% |
| WASCX Grade | D | C | A | A | C | B | B | A | B | A | F |
| +/- Category | -1.8% | -0.4% | 4.7% | 2.4% | -0.9% | 1.3% | 2.8% | 3.2% | 1.0% | 3.5% | -12.8% |
| Global Moderate Allocation Avg | 7.8% | 16.2% | 8.4% | 12.2% | -13.4% | 11.6% | 9.8% | 17.7% | -7.1% | 14.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 9.5% |
| Total Risk Index: | 0.78 - Below Average |
| Category Risk Index: | 1.04 - High |
| Category Risk Grade: | F (85% Rank) |
| Beta: | 0.96 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1846 Mil |
| Fund Total Assets: | $ 31 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 76% |
Management Team
| Number of Managers: 7 | |||
| Longest Tenure: 4.6 years | |||
| Average Tenure: 2.0 years | |||
| Managers (Year): Wurzer Jurgen (2021), Löwenthal Stefan (2021), Young Aaron (2021), Chang Amy (2026), Parham Chris (2026), Kotsen Stephen (2026), Crall David (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 550 |
| % in Top 10 Holdings: | 26.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 28.6% |
Portfolio Allocation |
|
| Domestic Stock: | 45.9% |
| Foreign Stock: | 25.5% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 17.1% |
| Foreign Bond: | 3.1% |
| Convertible Bond: | 0.0% |
| Other: | 7.6% |
| Cash: | 0.3% |
Purchase Information
| Fund Family: | Nomura |
| Phone Number: | 800-523-1918 |
| Website: | www.ivyinvestments.com |
| Status: | Open |
| Inception Date: | April 20, 1995 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.87% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | Nomura Asset Strategy Fund Cl C |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
