M&A - DELAWARE GROUP CASH RESERVE

Form Type: 497K

Filing Date: 2025-04-21

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000369

Filing Summary: On April 21, 2025, Macquarie Group Limited announced an agreement for Nomura Holding America Inc. to acquire the US and European public investments asset management business of Macquarie Asset Management. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of October 2025, pending these conditions. As a result of this acquisition, the investment advisory agreement with Delaware Management Company (DMC) will automatically terminate, leading to the requirement for the Board of Trustees to approve new advisory agreements. If approved, the new agreements will be presented to Fund shareholders for approval and would take effect upon closing of the transaction. The document also emphasizes the importance of consulting tax professionals due to unique tax situations for investors.