M&A - DELAWARE GROUP INCOME FUNDS
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000748
Filing Summary: On June 18, 2025, Macquarie Group Limited, the parent of Delaware Management Company, and Nomura Holding America Inc. announced an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. This acquisition will lead to the automatic termination of investment advisory agreements with Delaware Management Company. To prepare for this change, the Board of Trustees of each Fund has approved a new investment advisory agreement, pending shareholder approval, to take effect at the closing of the acquisition. Additionally, shareholders will receive proxy materials for a special meeting to consider this advisory agreement. The document also details a series of name changes for the Funds that will occur upon closing, converting all funds to incorporate the Nomura name. Further information regarding the closing of the transaction will be provided in future communications.
Additional details:
Investment Advisory Agreement: New investment advisory agreement pending shareholder approval
Interim Agreement: Effective at the transaction closing allowing DMC to provide advisory services for up to 150 days
Name Changes: [{"current_name":"Macquarie Asset Strategy Fund","new_name":"Nomura Asset Strategy Fund"},{"current_name":"Macquarie Balanced Fund","new_name":"Nomura Balanced Fund"},{"current_name":"Macquarie Climate Solutions Fund","new_name":"Nomura Climate Solutions Fund"},{"current_name":"Macquarie Core Equity Fund","new_name":"Nomura Core Equity Fund"},{"current_name":"Macquarie Corporate Bond Fund","new_name":"Nomura Corporate Bond Fund"},{"current_name":"Macquarie Diversified Income Fund","new_name":"Nomura Diversified Income Fund"},{"current_name":"Macquarie Healthcare Fund","new_name":"Nomura Healthcare Fund"},{"current_name":"Macquarie Growth and Income Fund","new_name":"Nomura Growth and Income Fund"},{"current_name":"Macquarie International Core Equity Fund","new_name":"Nomura International Core Equity Fund"},{"current_name":"Macquarie Value Fund","new_name":"Nomura Value Fund"}]
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000750
Filing Summary: On June 18, 2025, the Board of Trustees for each Macquarie Fund approved a new investment advisory agreement in anticipation of the acquisition of Macquarie Asset Management’s US and European public investments business by Nomura Holding America Inc. This acquisition will lead to the automatic termination of the existing investment advisory agreements with Delaware Management Company (DMC). A special meeting of shareholders is planned to obtain approval for this new investment advisory agreement, with proxy materials expected to be mailed in late July 2025. During the Board Meeting, an interim investment advisory agreement was also approved, which allows DMC to continue providing services for up to 150 days or until the new agreement is approved. Additionally, the Board recommended several name changes for the funds, replacing 'Macquarie' with 'Nomura'. Final details regarding the timing of the transaction’s closing will be provided in future communications.
Additional details:
Investment Advisory Agreement: new investment advisory agreement approved
Shareholder Meeting: special meeting for approval planned
Interim Agreement: interim investment advisory agreement approved
Name Changes: various funds renamed following acquisition
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000788
Filing Summary: On June 18, 2025, Delaware Group Income Funds filed a supplement to its current Summary Prospectus regarding an acquisition agreement between Macquarie Group Limited and Nomura Holding America Inc. This agreement involves Nomura acquiring Macquarie Asset Management’s US and European public investments business. The closing of this transaction will result in the termination of the current investment advisory agreements with Delaware Management Company (DMC). Subsequently, the Board of Trustees of each Fund approved and recommended a new investment advisory agreement to shareholders for approval at a special meeting. This new agreement is set to take effect upon closing of the transaction. An interim agreement to allow DMC to provide advisory services for a limited period was also approved. Additionally, significant name changes for the Funds will occur following the transaction's closing, transitioning from Macquarie-branded names to Nomura-branded names across multiple funds. Proxy materials are scheduled to be mailed in late July 2025, with further details regarding the transaction’s closing to be provided in future communications.
Additional details:
Investment Advisory Agreement Status: new advisory agreement pending approval
Interim Agreement Duration: up to 150 days
Proxy Materials Mail Date: late July 2025
Name Changes: [{"current_name":"Macquarie Asset Strategy Fund","new_name":"Nomura Asset Strategy Fund"},{"current_name":"Macquarie Balanced Fund","new_name":"Nomura Balanced Fund"},{"current_name":"Macquarie Climate Solutions Fund","new_name":"Nomura Climate Solutions Fund"},{"current_name":"Macquarie Core Equity Fund","new_name":"Nomura Core Equity Fund"},{"current_name":"Macquarie Corporate Bond Fund","new_name":"Nomura Corporate Bond Fund"},{"current_name":"Macquarie Diversified Income Fund","new_name":"Nomura Diversified Income Fund"},{"current_name":"Macquarie Emerging Markets Debt Corporate Fund","new_name":"Nomura Emerging Markets Debt Corporate Fund"},{"current_name":"Macquarie Emerging Markets Fund","new_name":"Nomura Emerging Markets Fund"},{"current_name":"Macquarie Extended Duration Bond Fund","new_name":"Nomura Extended Duration Bond Fund"},{"current_name":"Macquarie Floating Rate Fund","new_name":"Nomura Floating Rate Fund"},{"current_name":"Macquarie Global Allocation Fund","new_name":"Nomura Global Allocation Fund"},{"current_name":"Macquarie Global Bond Fund","new_name":"Nomura Global Bond Fund"},{"current_name":"Macquarie Global Growth Fund","new_name":"Nomura Global Growth Fund"},{"current_name":"Macquarie Global Listed Real Assets Fund","new_name":"Nomura Global Listed Real Assets Fund"},{"current_name":"Macquarie Growth and Income Fund","new_name":"Nomura Growth and Income Fund"},{"current_name":"Macquarie Healthcare Fund","new_name":"Nomura Healthcare Fund"},{"current_name":"Macquarie High Income Fund","new_name":"Nomura High Income Fund"},{"current_name":"Macquarie International Core Equity Fund","new_name":"Nomura International Core Equity Fund"},{"current_name":"Macquarie Large Cap Growth Fund","new_name":"Nomura Large Cap Growth Fund"},{"current_name":"Macquarie Limited-Term Diversified Income Fund","new_name":"Nomura Limited-Term Diversified Income Fund"},{"current_name":"Macquarie Mid Cap Growth Fund","new_name":"Nomura Mid Cap Growth Fund"},{"current_name":"Macquarie Mid Cap Income Opportunities Fund","new_name":"Nomura Mid Cap Income Opportunities Fund"},{"current_name":"Macquarie Minnesota High-Yield Municipal Bond Fund","new_name":"Nomura Minnesota High-Yield Municipal Bond Fund"},{"current_name":"Macquarie National High-Yield Municipal Bond Fund","new_name":"Nomura National High-Yield Municipal Bond Fund"},{"current_name":"Macquarie Natural Resources Fund","new_name":"Nomura Natural Resources Fund"},{"current_name":"Macquarie Opportunity Fund","new_name":"Nomura Opportunity Fund"},{"current_name":"Macquarie Real Estate Securities Fund","new_name":"Nomura Real Estate Securities Fund"},{"current_name":"Macquarie Science and Technology Fund","new_name":"Nomura Science and Technology Fund"},{"current_name":"Macquarie Small Cap Core Fund","new_name":"Nomura Small Cap Core Fund"},{"current_name":"Macquarie Small Cap Growth Fund","new_name":"Nomura Small Cap Growth Fund"},{"current_name":"Macquarie Small Cap Value Fund","new_name":"Nomura Small Cap Value Fund"},{"current_name":"Macquarie Smid Cap Core Fund","new_name":"Nomura Smid Cap Core Fund"},{"current_name":"Macquarie Strategic Income Fund","new_name":"Nomura Strategic Income Fund"},{"current_name":"Macquarie Systematic Emerging Markets Equity Fund","new_name":"Nomura Systematic Emerging Markets Equity Fund"},{"current_name":"Macquarie Tax-Free California Fund","new_name":"Nomura Tax-Free California Fund"},{"current_name":"Macquarie Tax-Free Colorado Fund","new_name":"Nomura Tax-Free Colorado Fund"},{"current_name":"Macquarie Tax-Free Idaho Fund","new_name":"Nomura Tax-Free Idaho Fund"},{"current_name":"Macquarie Tax-Free Minnesota Fund","new_name":"Nomura Tax-Free Minnesota Fund"},{"current_name":"Macquarie Tax-Free New York Fund","new_name":"Nomura Tax-Free New York Fund"},{"current_name":"Macquarie Tax-Free Oregon Fund","new_name":"Nomura Tax-Free Oregon Fund"},{"current_name":"Macquarie Tax-Free Pennsylvania Fund","new_name":"Nomura Tax-Free Pennsylvania Fund"},{"current_name":"Macquarie Tax-Free USA Fund","new_name":"Nomura Tax-Free USA Fund"},{"current_name":"Macquarie Tax-Free USA Intermediate Fund","new_name":"Nomura Tax-Free USA Intermediate Fund"},{"current_name":"Macquarie Ultrashort Fund","new_name":"Nomura Ultrashort Fund"},{"current_name":"Macquarie Value Fund","new_name":"Nomura Value Fund"},{"current_name":"Macquarie Wealth Builder Fund","new_name":"Nomura Wealth Builder Fund"},{"current_name":"Macquarie VIP Asset Strategy Series","new_name":"Nomura VIP Asset Strategy Series"},{"current_name":"Macquarie VIP Balanced Series","new_name":"Nomura VIP Balanced Series"},{"current_name":"Macquarie VIP Core Equity Series","new_name":"Nomura VIP Core Equity Series"},{"current_name":"Macquarie VIP Corporate Bond Series","new_name":"Nomura VIP Corporate Bond Series"},{"current_name":"Macquarie VIP Emerging Markets Series","new_name":"Nomura VIP Emerging Markets Series"},{"current_name":"Macquarie VIP Energy Series","new_name":"Nomura VIP Energy Series"},{"current_name":"Macquarie VIP Fund for Income Series","new_name":"Nomura VIP Fund for Income Series"},{"current_name":"Macquarie VIP Global Growth Series","new_name":"Nomura VIP Global Growth Series"},{"current_name":"Macquarie VIP Growth and Income Series","new_name":"Nomura VIP Growth and Income Series"},{"current_name":"Macquarie VIP Growth Equity Series","new_name":"Nomura VIP Growth Equity Series"},{"current_name":"Macquarie VIP Growth Series","new_name":"Nomura VIP Growth Series"},{"current_name":"Macquarie VIP High Income Series","new_name":"Nomura VIP High Income Series"},{"current_name":"Macquarie VIP International Core Equity Series","new_name":"Nomura VIP International Core Equity Series"},{"current_name":"Macquarie VIP Investment Grade Series","new_name":"Nomura VIP Investment Grade Series"},{"current_name":"Macquarie VIP Limited Duration Bond Series","new_name":"Nomura VIP Limited Duration Bond Series"},{"current_name":"Macquarie VIP Limited-Term Bond Series","new_name":"Nomura VIP Limited-Term Bond Series"},{"current_name":"Macquarie VIP Mid Cap Growth Series","new_name":"Nomura VIP Mid Cap Growth Series"},{"current_name":"Macquarie VIP Natural Resources Series","new_name":"Nomura VIP Natural Resources Series"},{"current_name":"Macquarie VIP Opportunity Series","new_name":"Nomura VIP Opportunity Series"},{"current_name":"Macquarie VIP Pathfinder Aggressive Series","new_name":"Nomura VIP Pathfinder Aggressive Series"},{"current_name":"Macquarie VIP Pathfinder Conservative Series","new_name":"Nomura VIP Pathfinder Conservative Series"},{"current_name":"Macquarie VIP Pathfinder Moderate Series","new_name":"Nomura VIP Pathfinder Moderate Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Aggressive Series","new_name":"Nomura VIP Pathfinder Moderately Aggressive Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Conservative Series","new_name":"Nomura VIP Pathfinder Moderately Conservative Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Aggressive - Managed Volatility Series","new_name":"Nomura VIP Pathfinder Moderately Aggressive - Managed Volatility Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Conservative - Managed Volatility Series","new_name":"Nomura VIP Pathfinder Moderately Conservative - Managed Volatility Series"},{"current_name":"Macquarie VIP Pathfinder Moderate - Managed Volatility Series","new_name":"Nomura VIP Pathfinder Moderate - Managed Volatility Series"},{"current_name":"Macquarie VIP Science and Technology Series","new_name":"Nomura VIP Science and Technology Series"},{"current_name":"Macquarie VIP Small Cap Growth Series","new_name":"Nomura VIP Small Cap Growth Series"},{"current_name":"Macquarie VIP Small Cap Value Series","new_name":"Nomura VIP Small Cap Value Series"},{"current_name":"Macquarie VIP Smid Cap Core Series","new_name":"Nomura VIP Smid Cap Core Series"},{"current_name":"Macquarie VIP Total Return Series","new_name":"Nomura VIP Total Return Series"},{"current_name":"Macquarie VIP Value Series","new_name":"Nomura VIP Value Series"}]
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000314
Filing Summary: On April 21, 2025, Macquarie Group Limited, the parent company of Delaware Management Company (DMC), announced an agreement for Nomura Holding America Inc. to acquire the US and European public investments asset management business of Macquarie Asset Management. This transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of October 2025. The acquisition will automatically terminate each Fund’s investment advisory agreement with DMC under the Investment Company Act of 1940. The Board of Trustees of each Fund will be asked to approve new investment advisory agreements which will be presented to shareholders for approval, taking effect upon the transaction's closing. Investors are advised to consider their unique tax situations before making investment decisions.
Additional details:
Investment Advisory Agreement Status: terminated
Expected Close Date: 2025-10-31
New Agreement Approval Required: yes
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000316
Filing Summary: On April 21, 2025, Macquarie Group Limited, the parent company of Delaware Management Company (DMC), 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 obtaining necessary regulatory approvals, and is expected to close by the end of October 2025. Closing of the transaction will lead to the automatic termination of each Fund’s investment advisory agreement with DMC, necessitating approval for new agreements by each Fund’s Board of Trustees, which will subsequently be presented to shareholders. There are no guarantees from Macquarie Bank regarding the obligations of these entities, and investors should consult tax professionals regarding the investment risks and implications.
Additional details:
Investment Advisory Agreement Status: terminated
Transaction Closing Date: 2025-10-31
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000368
Filing Summary: On April 21, 2025, Macquarie Group Limited and Delaware Management Company 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 pending customary closing conditions, including regulatory approvals, and is expected to close by late October 2025. Upon closing, existing investment advisory agreements with DMC will automatically terminate, prompting the Funds' Board of Trustees to seek approval for new agreements. Shareholder approval will also be necessary for the new agreements to take effect.
Additional details:
Investment Advisory Agreement Termination: Yes
Expected Closing Date: 2025-10-31
Shareholder Approval Required: Yes
Parent Company: Macquarie Group Limited
Sub Advisory Agreement Termination: Yes
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