Nomura Balanced Fund(formerly, Macquarie Balanced Fund)*

Key features

Seeks total return and offers the potential for capital growth and current income

Provides diversification among different asset classes consistent with a moderate risk level

Strategic and tactical allocations made by an experienced multi-asset allocation team

Daily pricing as of 11/28/2025

NAV
$26.23
NAV 1-day net change
0.05
Max offer price
$26.23

Total net assets as of //

All share classes
NaN million

Overview

Fund information
Inception date 04/02/2007
Dividends paid (if any) Quarterly
Capital gains paid (if any) December
Fund identifiers

Benchmark and peer group

S&P 500® Index (view definition)

Bloomberg US Aggregate Index (view definition)

Morningstar Allocation--50% to 70% Equity Category (view definition)

Lipper Mixed-Asset Target Allocation Growth Funds Average (view definition)

Performance

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor (as applicable) for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.

Average annual total return as of month-end ()

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Average annual total return as of quarter-end (09/30/2025)

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Overall Morningstar RatingTM

Institutional Class shares - as of 10/31/2025

MorningstarMorningstarMorningstarMorningstar
Class No. of funds
Overall
Morningstar category

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 10/31/2025
1 year 238 / 483
3 years 112 / 460
5 years 59 / 439
10 years 126 / 359
Morningstar category Morningstar Allocation -- 50% to 70% Equity Category

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of //
Lipper classification

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
0.84%
Net
0.73%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from July 31, 2025 through July 30, 2026. Please see the fee table in the Fund's prospectus for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2024
15.97%
2023
16.51%
2022
-15.94%
2021
16.46%
2020
14.64%
2019
22.42%
2018
-3.12%
2017
11.66%
2016
2.23%
2015
-0.11%

Portfolio

Portfolio characteristics as of 10/31/2025

Number of holdings
641
Market cap (median) Source: FactSet
$169.6 billion
Market cap (weighted average) Source: FactSet
$1.40 trillion
Portfolio turnover (last fiscal year)
76%
Beta (relative to S&P 500 Index) (view definition)
0.77
SEC 30-day yield with waiver (view definition)
1.50%
SEC 30-day yield without waiver (view definition)
1.40%
Annualized standard deviation, 3 years (view definition)
10.21

Portfolio composition as of 07/31/2025
Total may not equal 100% due to rounding.

Domestic equities
59.6%
Fixed income
31.5%
Cash and cash equivalents
8.9%

Top 10 equity holdings as of 10/31/2025

Holdings are as of the date indicated and subject to change.

List may exclude cash, cash equivalents, and exchange-traded funds (ETFs). Please see the Fund's complete list of holdings for more information.

Holding
% of portfolio
Holding
% of portfolio
NVIDIA CORP
4.55
MICROSOFT CORP
4.37
APPLE INC
2.97
TAIWAN SEMICONDUCTOR MANUFACTURING
2.56
AMAZON COM INC
2.38
HOWMET AEROSPACE INC
2.06
BROADCOM INC
1.70
ALPHABET INC CLASS A
1.60
ALPHABET INC CLASS C
1.48
AIRBUS SE UNSPONSORED ADR
1.44

Total % Portfolio in Top 10 holdings - 25.11%

List of monthly holdingsList of quarterly holdings

Distribution history - annual distributions (Class )1,2
Distributions ($ per share)

Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income

1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).

2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.

3Includes both short- and long-term capital gains.

Management

Sub-advisor

Securian Asset Management, Inc. (Securian AM)

Stefan Lowenthal

Stefan Löwenthal, CFA

  • Head of Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 17
  • Read bio
Jurgen Wurzer

Jürgen Wurzer, CFA

  • Deputy Head of Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 18
  • Read bio
Aaron Young

Aaron Young 

  • Senior Portfolio Manager – Global Multi-Asset
  • Read bio

Fees

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering price none
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower none
Annual fund operating expenses
Management fees 0.68%
Distribution and service (12b-1) fees none
Other expenses1 0.16%
Total annual fund operating expenses 0.84%
Fee waivers and expense reimbursements2 (0.11%)
Total annual fund operating expenses after fee waivers and expense reimbursements 0.73%

1Other expenses contain a 0.01% acquired fund fees and expenses. Acquired fund fees and expenses sets forth the Fund's pro rata portion of the cumulative expenses charged by the registered investment companies in which the Fund invested during the last fiscal year. The actual Acquired fund fees and expenses will vary with changes in the allocations of the Fund's assets. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's NAV.

2Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from July 31, 2025 through July 30, 2026. Please see the fee table in the Fund's prospectus for more information.

Institutional Class shares are available only to certain investors.

Please see the prospectus and SAI for additional information.

Resources

*(formerly, Delaware Ivy Balanced Fund)

Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting nomuraassetmanagement.com/literature or calling 877 693-3546. Investors should read the prospectus and the summary prospectus carefully before investing.

Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting nomuraassetmanagement.com/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

Employees of the Manager's affiliates outside the US participate in the management of certain Funds as “associated persons” of DMC under DMC's oversight, in accordance with SEC guidance as to “participating affiliate” arrangements. These associated persons may, on behalf of DMC, provide discretionary investment management services, trading, research and related services directly or indirectly to the Funds.

Investing involves risk, including the possible loss of principal.

Fixed income securities can lose value, including the possible loss of principal. An issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. The prices of bonds and other fixed income securities will increase as interest rates fall and decrease as interest rates rise. Fixed income securities with longer maturities or duration generally are more sensitive to interest rate changes.

High yield securities (“junk bonds”) are subject to reduced creditworthiness of issuers, increased risk of default, and a more limited and less liquid secondary market. High yield securities may also be subject to greater price volatility and risk of loss of income and principal than higher-rated securities.

Risk is increased in a concentrated portfolio since it holds a limited number of securities with each investment having a greater effect on the overall performance.

There is no guarantee that dividend-paying stocks will continue to pay dividends.

Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis, and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and can be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund’s investments. Given the increasing interdependence among global economies and markets, conditions in one country, market, or region are increasingly likely to adversely affect markets, issuers, and/or foreign exchange rates in other countries. These disruptions could prevent the Fund from executing advantageous investment decisions in a timely manner and could negatively impact the Fund’s ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund.

All third-party marks cited are the property of their respective owners.

Not FDIC Insured • No Bank Guarantee • May Lose Value

Nothing presented should be construed as a recommendation to purchase or sell any security or follow any investment technique or strategy.

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