Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

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Applicant seeks an order declaring that it has ceased to be an investment company. On May 5, 2000, applicant made its final liquidating distribution to its shareholders based on net asset value. Expenses of $34,420 incurred in connection with the liquidation were paid by Ivy Management, Inc., applicant's investment adviser. Filing Date: The application was filed on November 7, 2000. Applicant's Address: Via Mizner Financial Plaza, 700 South Federal Highway--Suite 300, Boca Raton, Florida 33432.