M&A - Ivy Variable Insurance Portfolios

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Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000746

Filing Summary: On June 18, 2025, Ivy Variable Insurance Portfolios filed a 497K form concerning 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 investment advisory agreements with Delaware Management Company (DMC) for all affected funds. The Board of Trustees has recommended the approval of a new investment advisory agreement pending shareholder approval. This agreement is intended to take effect upon the closing of the transaction. In addition to the new advisory agreement, an interim agreement allowing DMC to provide services for up to 150 days has also been approved. Subsequent name changes for each fund are set to occur upon the closing, reflecting the rebranding from Macquarie to Nomura. Detailed proxy materials will be mailed to shareholders in late July 2025 to approve the new advisory agreement.

Additional details:

Board Meeting Date: 2025-06-18

Interim Agreement Effective Duration: 150 days

Shareholder Meeting Mail Date: 2025-07-31

New Advisory Agreement Pending Approval: true

Funds 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 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: Acquisition

Type: New

Accession Number: 000113743925000749

Filing Summary: On June 18, 2025, an agreement was announced for Nomura Holding America Inc. to acquire Macquarie Asset Management’s US and European public investments business, leading to the automatic termination of investment advisory agreements with Delaware Management Company. Each Fund's Board of Trustees approved a new investment advisory agreement pending shareholder approval, effective upon transaction closing. An interim agreement allowing DMC to provide advisory services was also approved. Changes to fund names to reflect the acquisition, from Macquarie to Nomura branding, were listed. Proxy materials for a special shareholders' meeting will be mailed in late July 2025. Further details regarding the transaction's closing will be shared in a future fund supplement.

Additional details:

New Investment Advisory Agreement: approved pending shareholder approval

Interim Agreement: approved to provide advisory services for up to 150 days or until new agreement approval

Name Changes: fund names changed from Macquarie to Nomura

Proxy Materials Date: mailing anticipated in late July 2025

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000113743925000752

Filing Summary: On June 18, 2025, Ivy Variable Insurance Portfolios filed a Form 497K supplementing the current Summary Prospectus, Statutory Prospectus, and Statement of Additional Information for Macquarie Funds. The supplement notes that Macquarie Group Limited, alongside its affiliate Delaware Management Company (DMC) and Nomura Holding America Inc., has entered into 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 DMC. In anticipation of this closing, the Board of Trustees has approved a new investment advisory agreement pending shareholder approval. It is expected that proxy materials for a special shareholder meeting to discuss the new advisory agreement will be mailed out in late July 2025. Additionally, the Board approved interim agreements allowing DMC to continue advisory services until the new agreement is approved. Furthermore, a series of name changes for the funds involved will occur following the closing of the transaction, with several funds having their names changed to incorporate 'Nomura'. Future communications will provide additional details regarding the timing of the transaction's closing, and investors are advised to consult tax professionals regarding investment risks and tax consequences.

Additional details:

Investment Advisory Agreement: new investment advisory agreement pending shareholder approval

Interim Agreement: effective at the time of transaction

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"},{"current_name":"Macquarie VIP Wealth Builder Series","new_name":"Nomura VIP Wealth Builder Series"}]

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000754

Filing Summary: Macquarie Group Limited, along with Nomura Holding America Inc., has entered into an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. Following the closing of this transaction, all investment advisory agreements with Delaware Management Company (DMC) will automatically terminate. The Board of Trustees for each Fund has approved new investment advisory agreements that will take effect upon shareholder approval and the closing of the transaction. Proxy materials will be sent to shareholders for a special meeting where the approval will be discussed. The Board also approved interim agreements allowing DMC to provide investment advisory services temporarily until the new agreements are effective. Furthermore, several name changes for the Funds will take place upon closing, transitioning from Macquarie to Nomura brand names. Future updates about the transaction's closing will be communicated in fund supplements, and the document reminds investors of the unique risks associated with investments in these Funds.

Additional details:

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

Current Name: Macquarie VIP Wealth Builder Series

New Name: Nomura VIP Wealth Builder Series

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000756

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. This acquisition will trigger the automatic termination of investment advisory agreements with Delaware Management Company (DMC) for each Macquarie Fund and possibly other sub-advisory agreements. As part of this process, the Board of Trustees of each Fund approved a new investment advisory agreement pending shareholder approval, effective at the transaction closure. A special meeting of shareholders will be scheduled to discuss this. Additionally, name changes for the funds were approved, transitioning from 'Macquarie' to 'Nomura'. The anticipated proxy materials for the special meeting will be mailed in late July 2025. An interim advisory agreement was also established to allow DMC to provide services until the new agreement is approved by shareholders. The document emphasizes the importance of reading the forthcoming proxy statement due to its inclusion of significant details about the new advisory agreement and transaction.

Additional details:

Investment Advisory Agreement: new investment advisory agreement pending shareholder approval

Interim Agreement: interim investment advisory agreement effective at the time of the transaction

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000113743925000760

Filing Summary: On June 18, 2025, it was announced that Macquarie Group Limited, the parent company of Delaware Management Company (DMC), entered into an agreement for Nomura Holding America Inc. to acquire Macquarie Asset Management’s US and European public investments business. This transaction will lead to the automatic termination of each Fund’s investment advisory agreement with DMC. The Board of Trustees approved a new investment advisory agreement, pending shareholder approval, that will take effect at the closing of the acquisition. Shareholders will receive proxy materials for a special meeting to approve this new agreement, expected to be mailed in late July 2025. Additionally, an interim investment advisory agreement was approved between each Fund and DMC, effective at the time of the acquisition, which would allow DMC to provide investment services for up to 150 days or until the new advisory agreement is approved. Name changes for various funds were also confirmed, reflecting the transition to Nomura branding. Further information regarding the transaction's closing will be shared in a future fund supplement. Investors are advised to consult their tax professionals regarding potential tax implications associated with the investment.

Additional details:

Investment Advisory Agreement Status: new investment advisory agreement pending shareholder approval

Interim Agreement Effectiveness: effective at the time of the acquisition

Name Changes: transition from Macquarie to Nomura branding for all listed funds

Proxy Material Mailing: expected in late July 2025

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000762

Filing Summary: Macquarie Group Limited, the parent company of Delaware Management Company (DMC), along with certain affiliates, and Nomura Holding America Inc. have entered into an agreement for Nomura to acquire Macquarie Asset Management's US and European public investments business. As a result, the investment advisory agreements with DMC for all Macquarie Funds will terminate automatically once the transaction closes. To prepare for this, the Board of Trustees of each Fund has recommended that shareholders approve a new investment advisory agreement effective upon transaction completion. Shareholders, as of a record date to be determined, will receive proxy materials to discuss the agreement at a special meeting anticipated to be held, with materials mailed in late July 2025. Additionally, an interim investment advisory agreement was approved to take effect during the transaction process, and several name changes for the Funds were also approved, transitioning to include 'Nomura' in their titles. A future fund supplement will provide more details regarding the transaction's closing timing. The document also advises against any investment solicitation and highlights the risks associated with investments.

Additional details:

Cik: 0001234567

Corporate Action: acquisition

Type: New

Form Type: 497K

Investment Advisory Agreement Status: pending shareholder approval

Interim Agreement Effective Date: upon transaction closing

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000113743925000764

Filing Summary: Macquarie Group Limited and Nomura Holding America Inc. have entered an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. With this acquisition, each Fund's investment advisory agreement with Delaware Management Company (DMC) will automatically terminate. The Board of Trustees approved a new investment advisory agreement contingent on shareholder approval, which will take effect at the closing of the acquisition. Shareholders will receive proxy materials to vote on this agreement in late July 2025. An interim investment advisory agreement between DMC and the Funds was also approved, set to last for 150 days or until the new agreement is approved. Additionally, numerous funds will undergo name changes to reflect the new branding under Nomura. The document emphasizes that further information regarding the timing of the transaction’s closing will be provided in a future fund supplement.

Additional details:

Board Approval Date: 2025-06-18

New Advisory Agreement Effective Date: upon closing of acquisition

Interim Agreement Effective Date: upon transaction closing

Proxy Materials Mail Date: late July 2025

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000766

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. This acquisition will lead to the automatic termination of the investment advisory agreements of Macquarie Funds with the Delaware Management Company (DMC). Consequently, the Board of Trustees of each Fund has approved a new investment advisory agreement that will take effect upon the transaction's completion, pending shareholder approval. Shareholders will receive proxy materials for a special meeting to consider this new agreement, expected to be mailed in late July 2025. Additionally, the Board unanimously approved an interim investment advisory agreement allowing DMC to provide advisory services for up to 150 days post-transaction or until shareholder approval of the new agreement. Following the transaction, various name changes for the Funds will occur to reflect Nomura's ownership.

Additional details:

Board Meeting Date: 2025-06-18

Shareholder Meeting Materials Distribution Date: 2025-07-30

Interim Agreement Duration Days: 150

New Fund Names: [{"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: Acquisition

Type: New

Accession Number: 000113743925000768

Filing Summary: On June 18, 2025, Ivy Variable Insurance Portfolios filed a supplement regarding an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. This acquisition will automatically terminate the investment advisory agreement between Macquarie Funds and Delaware Management Company (DMC). In anticipation of this closing, the Board of Trustees for each Fund approved a new advisory agreement pending shareholder approval. Proxy materials for a special meeting regarding this new advisory agreement will be mailed to shareholders later in July 2025. Also, an interim advisory agreement with DMC was approved to provide services until the new agreement is effective. Additionally, the document lists comprehensive name changes for numerous funds from Macquarie to Nomura, reflecting the new branding post-acquisition.

Additional details:

Name Change From: Macquarie Asset Strategy Fund

Name Change To: Nomura Asset Strategy Fund

Name Change From: Macquarie Balanced Fund

Name Change To: Nomura Balanced Fund

Name Change From: Macquarie Climate Solutions Fund

Name Change To: Nomura Climate Solutions Fund

Name Change From: Macquarie Core Equity Fund

Name Change To: Nomura Core Equity Fund

Name Change From: Macquarie Corporate Bond Fund

Name Change To: Nomura Corporate Bond Fund

Name Change From: Macquarie Diversified Income Fund

Name Change To: Nomura Diversified Income Fund

Name Change From: Macquarie Emerging Markets Debt Corporate Fund

Name Change To: Nomura Emerging Markets Debt Corporate Fund

Name Change From: Macquarie Emerging Markets Fund

Name Change To: Nomura Emerging Markets Fund

Name Change From: Macquarie Extended Duration Bond Fund

Name Change To: Nomura Extended Duration Bond Fund

Name Change From: Macquarie Floating Rate Fund

Name Change To: Nomura Floating Rate Fund

Name Change From: Macquarie Global Allocation Fund

Name Change To: Nomura Global Allocation Fund

Name Change From: Macquarie Global Bond Fund

Name Change To: Nomura Global Bond Fund

Name Change From: Macquarie Global Growth Fund

Name Change To: Nomura Global Growth Fund

Name Change From: Macquarie Global Listed Real Assets Fund

Name Change To: Nomura Global Listed Real Assets Fund

Name Change From: Macquarie Growth and Income Fund

Name Change To: Nomura Growth and Income Fund

Name Change From: Macquarie Healthcare Fund

Name Change To: Nomura Healthcare Fund

Name Change From: Macquarie High Income Fund

Name Change To: Nomura High Income Fund

Name Change From: Macquarie International Core Equity Fund

Name Change To: Nomura International Core Equity Fund

Name Change From: Macquarie Large Cap Growth Fund

Name Change To: Nomura Large Cap Growth Fund

Name Change From: Macquarie Limited-Term Diversified Income Fund

Name Change To: Nomura Limited-Term Diversified Income Fund

Name Change From: Macquarie Mid Cap Growth Fund

Name Change To: Nomura Mid Cap Growth Fund

Name Change From: Macquarie Mid Cap Income Opportunities Fund

Name Change To: Nomura Mid Cap Income Opportunities Fund

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000113743925000772

Filing Summary: Macquarie Group Limited and Nomura Holding America Inc. have entered an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. As part of this acquisition, the investment advisory agreements with Delaware Management Company (DMC) will terminate, and the Board of Trustees will recommend shareholders to approve new advisory agreements effective upon closing. Proxy materials for shareholder meetings will be mailed in late July 2025 to discuss these new agreements. Name changes for various funds from Macquarie to Nomura were also approved, and further details on the transaction's closing will be provided in future communications.

Additional details:

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 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: Acquisition

Type: Update

Accession Number: 000113743925000774

Filing Summary: On June 18, 2025, an agreement was made 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 (DMC) for each Macquarie Fund. The Board approved a new investment advisory agreement pending shareholder approval to take effect upon the closing of the acquisition. Proxy materials for a special meeting to approve this new agreement will be mailed in late July 2025. An interim investment advisory agreement was also approved to allow DMC to provide services until the new agreement is approved. Name changes for all Macquarie Funds were also approved, aligning them with the Nomura brand.