Ivy Asset Strategy (symbol WASAX)
Co-manager Michael Avery has the flexibility to invest in a range of asset classes throughout the world. Currently, the fund is primarily invested in U.S. and European companies that derive a large amount of profits from rapidly-growing emerging markets like China. "We're investing in them because they make a good or a service that appeals to the emerging middle class outside of the developing markets," Avery says. Over the past 12 months, the fund has gained 24 percent.