M&A - VOYAGEUR MUTUAL FUNDS II

Form Type: 497K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000113743925000806

Filing Summary: On June 18, 2025, Macquarie Funds filed a supplement to the current Summary Prospectus regarding 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 transaction requires the termination of existing investment advisory agreements with Delaware Management Company (DMC), and a new investment advisory agreement is proposed to take effect pending shareholder approval at a special meeting. The Board also approved an interim investment advisory agreement allowing DMC to provide services before the new agreement is approved. Furthermore, name changes for multiple funds are confirmed to occur upon closing of the transaction, reflecting the transition to Nomura branding for all Macquarie Fund names. Proxy materials related to the shareholder meeting will be mailed in late July 2025.

Form Type: 497K

Filing Date: 2025-04-21

Corporate Action: Acquisition

Type: New

Accession Number: 000113743925000380

Filing Summary: On April 21, 2025, Macquarie Group Limited, along with its affiliate Delaware Management Company (DMC) and Nomura Holding America Inc., announced an agreement for Nomura to acquire the US and European public investments asset management business of Macquarie Asset Management. The transaction is subject to customary closing conditions and regulatory approvals and is anticipated to close by the end of October 2025. Following the transaction, the investment advisory agreement with DMC and any sub-advisory agreements will automatically terminate under the Investment Company Act of 1940. The Fund's Board of Trustees will need to approve a new investment advisory agreement, which, if approved by shareholders, would take effect upon the closing of the transaction. Stakeholders are advised to consult with tax professionals regarding implications of the investment.