M&A - DELAWARE GROUP TAX FREE FUND
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000795
Filing Summary: On June 18, 2025, Macquarie Group Limited and Nomura Holding America Inc. announced an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. The completion of this acquisition will automatically terminate the investment advisory agreements currently in place between each Fund and Delaware Management Company (DMC). As a preparatory measure, each Fund's Board of Trustees approved a new investment advisory agreement to take effect upon shareholder approval at the closing of the transaction. The Board also established an interim advisory agreement allowing DMC to provide investment services for a limited period. Additionally, a series of name changes for the Funds are proposed to reflect Nomura's branding, and shareholders will receive proxy materials regarding these changes ahead of a special meeting, expected to occur after the mailing of proxy materials in late July 2025. This document serves as a supplement to the current Summary Prospectus, Statutory Prospectus, and Statement of Additional Information for each Macquarie Fund.
Additional details:
Investment Advisory Agreement: new investment advisory agreement approved pending shareholder approval
Interim Agreement: effective upon completion of the transaction 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 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: 2025-06-18
Corporate Action: Merger
Type: New
Accession Number: 000113743925000796
Filing Summary: On June 18, 2025, the Board of Trustees for the Delaware Group Tax Free Fund approved a new investment advisory agreement that is contingent upon shareholder approval, following an agreement between Macquarie Group Limited and Nomura Holding America Inc. for Nomura to acquire Macquarie Asset Management’s US and European public investments business. The closure of this transaction will terminate the existing investment advisory agreement with Delaware Management Company. In the meantime, an interim advisory agreement has been approved to allow DMC to continue providing services up to 150 days or until a new agreement is approved. Additionally, several name changes for the funds managed by Macquarie were disclosed, reflecting the transition to Nomura branding. Further details on the transaction's timeline and shareholder meetings will be provided in forthcoming communications.
Additional details:
Investment Advisory Agreement: New investment advisory agreement pending shareholder approval
Interim Agreement Effective Period: Effective for up to 150 days or until shareholder approval
Fund 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: 000113743925000377
Filing Summary: On April 21, 2025, Macquarie Group Limited, the parent of Delaware Management Company, and Nomura Holding America Inc. announced their agreement for Nomura to acquire Macquarie Asset Management's US and European public investments asset management business. The transaction is to be completed by the end of October 2025, pending regulatory approvals. Closing will result in the automatic termination of each Fund’s investment advisory agreement with DMC, necessitating new agreements for board approval. Investors should consult tax professionals regarding the investment implications. This Supplement is dated April 21, 2025.
Additional details:
Investment Advisory Termination: automatic termination of each Fund’s investment advisory agreement with DMC
Expected Closing Date: by the end of October 2025
Regulatory Approvals: subject to customary closing conditions, including regulatory approvals
New Agreements: Board of Trustees will be asked to approve new investment advisory agreement and sub-advisory agreements if the acquisition is approved
Tax Consultation Advice: consult your tax professional about federal, state, local, or foreign tax consequences
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000379
Filing Summary: On April 21, 2025, Macquarie Group Limited, the parent company of Delaware Management Company (DMC), along with certain affiliates and Nomura Holding America Inc. (Nomura), announced an agreement for Nomura 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 transaction will automatically terminate each Fund’s investment advisory agreement with DMC under the Investment Company Act of 1940. Subsequently, the Funds' Board of Trustees will be asked to approve new investment advisory and sub-advisory agreements. If these are approved, they will take effect upon the transaction's closing.
Additional details:
Investment Advisory Agreement Termination: automatic termination upon closing of acquisition
New Agreement Approval Process: new advisory agreement to be approved by Board and Fund shareholders
Expected Closing Date: end of October 2025
Form Type: 497
Filing Date: 2025-03-17
Corporate Action: Merger
Type: Update
Accession Number: 000113743925000217
Filing Summary: A Proxy Statement/Prospectus was issued in conjunction with a Special Meeting of Shareholders for Macquarie Tax-Free Arizona Fund (the Acquired Fund) scheduled for May 6, 2025. The meeting aims to get shareholder approval for a reorganization plan which involves the merger of the Acquired Fund with Macquarie Tax-Free USA Fund (formerly Delaware Tax-Free USA Fund), referred to as the Acquiring Fund. Approval will result in the acquisition of substantially all assets of the Acquired Fund in exchange for shares of the Acquiring Fund and the subsequent complete liquidation and dissolution of the Acquired Fund. The Board of Trustees of the Acquired Trust has already given unanimous approval for the reorganization, asserting it as beneficial for shareholders. Following the merger, shareholders will receive shares of the Acquiring Fund of equivalent value without facing sales charges. The reorganization is anticipated to close around June 6, 2025, contingent upon obtaining shareholder approval. Costs associated with the reorganization are estimated between $215,882 and $268,426, with specific contributions from each fund also detailed. The Proxy materials also emphasize the tax-free nature of the reorganization, alongside potential implications and voting procedures for shareholders.
Additional details:
Shareholder Meeting Date: 2025-05-06
Record Date: 2025-03-14
Reorganization Date: 2025-06-06
Expense Estimate: $215,882-$268,426
Share Exchange Structure: assets of Acquired Fund acquired by Acquiring Fund in exchange for shares
Form Type: N-14
Filing Date: 2025-02-14
Corporate Action: Merger
Type: New
Accession Number: 000113743925000085
Filing Summary: The proposed merger involves the reorganization of Macquarie Tax-Free Arizona Fund (the 'Acquired Fund') into Macquarie Tax-Free USA Fund (the 'Acquiring Fund'). This comes as part of a Plan approved by the Boards of Trustees, with a Special Meeting of Shareholders scheduled for May 6, 2025, where approval is sought for this merger. If shareholders approve, the merger will take place on or around June 6, 2025, leading to the complete liquidation and dissolution of the Acquired Fund. Acquired Fund shareholders will exchange their shares for shares of the Acquiring Fund, valued at equal aggregate net asset value, and will incur no sales charges on this exchange. The Boards believe this merger is in the best interests of the Funds due to shared objectives and risks, potential economies of scale, and favorable performance metrics of the Acquiring Fund compared to the Acquired Fund. Moreover, the Acquiring Fund will manage the assets post-merger without diluting shareholder interests.
Additional details:
Proposal Date: 2025-02-14
Meeting Date: 2025-05-06
Reorganization Date: 2025-06-06
Record Date: 2025-03-11
Expected Costs: 215,882-268,426
Liquidation Plan: Yes
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