M&A - VOYAGEUR TAX FREE FUNDS
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000822
Filing Summary: On June 18, 2025, it was announced that Nomura Holding America Inc. will acquire Macquarie Asset Management's US and European public investments business. This acquisition will automatically terminate the investment advisory agreement between Delaware Management Company (DMC) and the affected Macquarie Funds. In anticipation of closing, the Board of Trustees of each Fund approved a new investment advisory agreement, pending shareholder approval. Proxy materials for a special meeting to approve this new agreement will be sent out to shareholders, with mailing expected in late July 2025. An interim investment advisory agreement was also approved to allow DMC to provide services until shareholder approval is obtained. Additionally, a series of name changes for the Funds have been approved to reflect the new ownership by Nomura, effective upon the transaction’s closing, including changes from Macquarie to Nomura across various fund names. Details on the closing timing will be shared in a future fund supplement.
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
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000378
Filing Summary: On April 21, 2025, Macquarie Group Limited, 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 conditional on customary closing conditions, including regulatory approvals, with expectations to close by the end of October 2025. The closing will lead to the automatic termination of the Fund's investment advisory agreement with DMC, necessitating Board approval for new agreements contingent upon shareholder consent. Shareholders will be presented with the new investment advisory agreement once approved by the Board. Investors are advised to consult tax professionals regarding implications before investing.
Additional details:
Investment Advisory Agreement Termination: automatically terminated upon transaction closing
Transaction Closing Expectation: by the end of October 2025
Regulatory Approvals Needed: yes
New Agreement Presented To Board: yes
Shareholder Approval Required: yes
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