Nelson replaces Bryan Krug, who managed the fund since its inception and is leaving to join Artisan Partners Asset Management. No further changes have been made to the high income research team.

Nelson now handles all the firm’s high income funds as vice president and portfolio manager of Ivy Funds VIP High Income ($644 million in assets), as well as managing the Waddell & Reed Advisors High Income Fund ($2 billion in assets). He joined the firm in 1995 as a fixed income investment analyst specializing in high-yield securities.

The Ivy High Income Opportunities Fund primarily invests in high-yield corporate bonds of varying maturities and other fixed income instruments of predominantly corporate issuers.

Ivy Funds is a subsidiary of , which provides investment management and financial planning services to clients in the US. The firm had approximately $114 billion in assets under management at September 30, 2013.