On August 22, 2019, Ivy Funds - Ivy High Income Opportunities Fund sent a letter to shareholders. In the letter, the Company stated that it needs shareholders help to defeat a proposal that is going to be presented at the Company’s annual meeting of shareholders on August 30, 2019. The Company added that the proposal has been submitted by a shareholder that wants to declassify the Company’s Board of Trustees, so that all of the Trustees could be replaced at a single shareholders meeting. The Company stated that its Board has unanimously determined that the declassification proposal is not in the best interests of the Company or its shareholders and recommended shareholders to vote against the proposal.