Attorneys working with ClassAction.org have reason to suspect Ivy Asset Strategy Fund broke federal law and breached the fiduciary duty it owed to its investors.
It is suspected that Ivy Asset Strategy Fund and its management officers may have violated federal and law and breached the fiduciary duty they owed their investors by:
Failing to disclose certain conflicts of interest
Not having the policies and procedures in place to assess and monitor major investments in the fund
Fiduciary Duty: What It Means for Investors
Directors, trustees and other management officers have a duty to put their own interests aside to further the interests of the fund and its investors. They must act in good faith, exercise a certain level of care when handling funds and use information at their disposal – along with their business judgment – to make reasonable decisions for investors. Allegations have surfaced that those managing the Ivy Assets Strategy failed to live up to this duty. As a result, attorneys suspect that a lawsuit could behalf of investors who suffered financially as a result.