# EDGAR Filing Document

**Accession Number:** 0000778108
**File Stem:** 0002071844-25-000632
**Filing Date:** 2025-12
**Character Count:** 80907
**Document Hash:** ea4bc66276c1a6a7715061bf4101bdcd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071844-25-000632.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0002071844-25-000632

**CONFORMED SUBMISSION TYPE**: DEF 14C

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251203

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622

**ORGANIZATION NAME:**
- **EIN:** 481112076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** DEF 14C
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-06569
- **FILM NUMBER:** 251559705

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IVY FUNDS INC
- **DATE OF NAME CHANGE:** 20030630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R FUNDS INC
- **DATE OF NAME CHANGE:** 20000829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WADDELL & REED FUNDS INC
- **DATE OF NAME CHANGE:** 19920717
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE GROUP EQUITY FUNDS V
- **CENTRAL INDEX KEY:** 0000809821

**ORGANIZATION NAME:**
- **EIN:** 232450217
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** DEF 14C
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-04997
- **FILM NUMBER:** 251559708

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP EQUITY FUNDS V INC
- **DATE OF NAME CHANGE:** 19970128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP VALUE FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP INSIGHT FUND INC
- **DATE OF NAME CHANGE:** 19870621
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE VIP TRUST
- **CENTRAL INDEX KEY:** 0000814230

**ORGANIZATION NAME:**
- **EIN:** 232470518
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DEF 14C
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-05162
- **FILM NUMBER:** 251559706

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP PREMIUM FUND
- **DATE OF NAME CHANGE:** 20000428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE PREMIUM FUND
- **DATE OF NAME CHANGE:** 20000224

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP PREMIUM FUND INC
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE POOLED TRUST
- **CENTRAL INDEX KEY:** 0000875352

**ORGANIZATION NAME:**
- **EIN:** 232651511
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** DEF 14C
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-06322
- **FILM NUMBER:** 251559710

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE POOLED TRUST INC
- **DATE OF NAME CHANGE:** 19920717
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE GROUP EQUITY FUNDS IV
- **CENTRAL INDEX KEY:** 0000778108

**ORGANIZATION NAME:**
- **EIN:** 232369628
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** DEF 14C
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-04413
- **FILM NUMBER:** 251559709

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP EQUITY FUNDS IV INC
- **DATE OF NAME CHANGE:** 19970128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP DELCAP FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELCAP FUND INC
- **DATE OF NAME CHANGE:** 19880929
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ivy Variable Insurance Portfolios
- **CENTRAL INDEX KEY:** 0000810016

**ORGANIZATION NAME:**
- **EIN:** 481146010
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DEF 14C
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-05017
- **FILM NUMBER:** 251559707

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** (800) 523-1918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivy Funds Variable Insurance Portfolios
- **DATE OF NAME CHANGE:** 20100301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivy Funds Variable Insurance Portfolios, Inc.
- **DATE OF NAME CHANGE:** 20080819

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R TARGET FUNDS INC
- **DATE OF NAME CHANGE:** 20001026

## Series and Classes Contracts Data

### Nomura Growth and Income Fund (Series ID: S000065929)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000212967 | Institutional Class | FGIPX           |
| C000212968 | Class A             | FGINX           |
| C000212969 | Class R6            | FGIQX           |

### Nomura Wealth Builder Fund (Series ID: S000002399)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000006368 | Class A             | DDIAX           |
| C000006370 | Class C             | DDICX           |
| C000006371 | Class R             | DDDRX           |
| C000006372 | Institutional Class | DDIIX           |
| C000240402 | Class R6            | DDERX           |

### Nomura VIP Asset Strategy Series (Series ID: S000006224)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017158 | Service      |  |
| C000190645 | Standard     |  |

### Nomura VIP Balanced Series (Series ID: S000006235)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017169 | Service      |  |

### Nomura VIP Total Return Series (Series ID: S000065940)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000212994 | Service      |  |
| C000212995 | Standard     |  |

### Nomura VIP Growth and Income Series (Series ID: S000065945)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000213000 | Standard     |  |

### Nomura Global Listed Real Assets Fund (Series ID: S000003937)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000011041 | CLASS A             | DPREX           |
| C000011043 | CLASS C             | DPRCX           |
| C000011044 | CLASS R             | DPRRX           |
| C000011045 | INSTITUTIONAL CLASS | DPRSX           |
| C000174774 | Class R6            | DPRDX           |

### Nomura Asset Strategy Fund (Series ID: S000006283)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000017255 | Class A             | WASAX           |
| C000017257 | Class C             | WASCX           |
| C000017258 | Class Y             | WASYX           |
| C000045541 | Institutional Class | IVAEX           |
| C000066833 | Class R             | IASRX           |
| C000146677 | Class R6            | IASTX           |

### Nomura Balanced Fund (Series ID: S000024823)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000073854 | Class A             | IBNAX           |
| C000073856 | Class C             | IBNCX           |
| C000073858 | Institutional Class | IYBIX           |
| C000073859 | Class Y             | IBNYX           |
| C000122153 | Class R             | IYBFX           |
| C000146686 | Class R6            | IBARX           |

### Nomura Systematic Emerging Markets Equity Fund (Series ID: S000024829)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000073889 | Class Y             | IPOYX           |
| C000073890 | Class A             | IPOAX           |
| C000073892 | Class C             | IPOCX           |
| C000073894 | Institutional Class | IPOIX           |
| C000122158 | Class R             | IYPCX           |
| C000146689 | Class R6            | IMEGX           |

SCHEDULE 14C

(RULE 14C-101)

INFORMATION REQUIRED IN INFORMATION STATEMENT

SCHEDULE 14C INFORMATION

INFORMATION STATEMENT PURSUANT TO SECTION 14(c)

OF THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. _______)

Check the appropriate box:

[ ] Preliminary information statement [ ] Confidential, for use of the Commission only (as permitted by Rule 14c-5(d) (2)). <br>[X] Definitive information statement

Ivy Funds

Ivy Variable Insurance Portfolios

Delaware VIP Trust

Delaware Group<sup>®</sup> Equity Funds IV

Delaware Group<sup>®</sup> Equity Funds V

Delaware Pooled Trust

(Name of Registrant as Specified in Its Charter)

Payment of Filing Fee (check the appropriate box):

[X] No fee required

[ ] Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.

(1) Title of each class of securities to which transaction applies:

(2) Aggregate number of securities to which transaction applies:

(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid:

[ ] Fee paid previously with preliminary materials.

[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.

(1) Amount previously paid:

(2) Form, schedule or registration statement no.:

(3) Filing party:

(4) Date filed:

------

#### Ivy Funds
Nomura Asset Strategy Fund (formerly, Macquarie Asset Strategy Fund)

Nomura Balanced Fund (formerly, Macquarie Balanced Fund)

Nomura Systematic Emerging Markets Equity Fund (formerly, Macquarie Systematic Emerging Markets Equity Fund)

#### Ivy Variable Insurance Portfolios
Nomura VIP Asset Strategy Series (formerly, Macquarie VIP Asset Strategy Series)

Nomura VIP Balanced Series (formerly, Macquarie VIP Balanced Series)

#### Delaware VIP Trust
Nomura VIP Growth and Income Series (formerly, Macquarie VIP Growth and Income Series)

Nomura VIP Total Return Series (formerly, Macquarie VIP Total Return Series)

#### Delaware Group<sup>®</sup> Equity Funds IV
Nomura Growth and Income Fund (formerly, Macquarie Growth and Income Fund)

#### Delaware Group<sup>®</sup> Equity Funds V
Nomura Wealth Builder Fund (formerly, Macquarie Wealth Builder Fund)

#### Delaware Pooled Trust
Nomura Global Listed Real Assets Fund (formerly, Macquarie Global Listed Real Assets Fund)

100 Independence, 610 Market Street<br> Philadelphia, PA 19106-2354

#### JOINT INFORMATION STATEMENT

This Joint Information Statement is being furnished on behalf of the Board of Trustees ("Trustees" or "Board") of Ivy Funds, Ivy Variable Insurance Portfolios, Delaware VIP Trust, Delaware Group Equity Funds IV, Delaware Group Equity Funds V and Delaware Pooled Trust (each a "Trust" and together, the "Trusts") to inform shareholders of the funds listed above (each a "Fund" and together, the "Funds") about recent changes related to the Funds' sub-advisory arrangement. The changes were approved by the Board on the recommendation of the Funds' investment manager, Delaware Management Company (the "Manager"), without shareholder approval as is permitted by an order of the U.S. Securities and Exchange Commission ("SEC"). **WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY.**

A Notice of Internet Availability of Joint Information Statement relating to this Joint Information Statement ("Notice") was mailed beginning on or about December 8, 2025 to shareholders of record of the Funds as of December 3, 2025 (the "Record Date"). The Joint Information Statement is available on the Funds' website at nomuraassetmanagement.com/literature (with respect to the retail Funds) and nomuraassetmanagement.com/vip-literature (with respect to the variable insurance Funds) on or about December 8, 2025 until at least May 8, 2026. A paper or e-mail copy of the Joint Information Statement may be obtained, without charge, by contacting your financial intermediary or your insurance company, or by calling the Funds' service agent toll free at 800-523-1918.

------

#### INTRODUCTION

#### <br>
The Manager is the investment manager for each series of the Trusts, including the Funds. Pursuant to "manager of managers" authority, the Manager, subject to approval by the Board, is permitted to hire, terminate, or replace sub-advisors who are affiliated or unaffiliated with the Trusts or the Manager, and to enter into and modify material terms and conditions of the related sub-advisory agreements without shareholder approval. Section 15(a) of the Investment Company Act of 1940, as amended (the "1940 Act"), generally requires that the shareholders of a mutual fund approve an agreement pursuant to which a person serves as investment advisor or sub-advisor of the fund. In order to use the "manager of managers" authority discussed above, the Manager, the Trusts, and certain affiliates requested and received an exemptive order from the SEC on January 17, 2017 (the "SEC Order"). The SEC Order exempts the Manager, the Trusts and other affiliates from certain of the shareholder approval requirements of Section 15(a) of the 1940 Act and allows the Board, subject to certain conditions, to appoint new sub-advisors and approve new sub-advisory agreements on behalf of the Trusts without shareholder approval. The Manager has ultimate responsibility (subject to oversight by the Board) to supervise the sub-advisors and recommend the hiring, termination, and replacement of the sub-advisors to the Board.

Consistent with the terms of the SEC Order, at a meeting held on June 18, 2025 (the "Meeting"), the Board, including a majority of the Trustees who are not "interested persons" of the Trusts or of the Manager (the "Independent Trustees") approved a new sub-advisory agreement (the "Sub-Advisory Agreement") between the Manager and Macquarie Investment Management Global Limited ("MIMGL"), under which MIMGL would continue to serve as a sub-advisor for some of the Funds and would become a new sub-advisor for other Funds. The Sub-Advisory Agreement became necessary due to Nomura Holdings Inc.'s ("Nomura") acquisition (the "Transaction") of the U.S. and European public asset management business of Macquarie Group Ltd. ("Macquarie"), which included the Manager. Under the 1940 Act, the closing of the Transaction resulted in the automatic termination of the Manager's existing advisory agreements and MIMGL's existing sub-advisory agreements with Nomura Growth and Income Fund, Nomura Wealth Builder Fund, Nomura Global Listed Real Assets Fund, Nomura VIP Growth and Income Series, Nomura VIP Total Return Series, Nomura Asset Strategy Fund and Nomura Systematic Emerging Markets Equity Fund (the "Existing Sub-Advised Funds"). For Nomura Balanced Fund, Nomura VIP Asset Strategy Series and Nomura VIP Balanced Series (the "New Sub-Advised Funds"), MIMGL is a new sub-advisor.

The Trusts and the Manager have agreed to comply with certain conditions when acting in reliance on the relief granted in the SEC Order. These conditions require, among other things, that within ninety (90) days of hiring a new sub-advisor, the affected fund will notify the shareholders of the fund of the changes. The Notice provides such notice of the changes, and this Joint Information Statement presents additional details regarding MIMGL and the Sub-Advisory Agreement.

#### THE INVESTMENT MANAGER

#### <br>
The Manager is located at 100 Independence, 610 Market Street, Philadelphia, PA 19106-2354, and is a series of Nomura Investment Management Business Trust, which is an indirect subsidiary of Nomura Asset Management International Inc., which in turn is an indirect subsidiary, and subject to the ultimate control, of Nomura Holdings Inc. ("Nomura"). The Manager is registered as an investment advisor with the SEC under the Investment Advisers Act of 1940, as amended.

The Manager provides investment advisory services to the Funds pursuant to a new investment management agreements dated as of December 1, 2025 between the Trusts and the Manager (the "Management Agreements"). The Management Agreements were approved by the Board, including a majority of the Independent Trustees, at a meeting held on June 18, 2025 and by Fund shareholders as follows:

<u> Fund </u> Date of Shareholder Approval

------

---

| | |
|:---|:---|
| Nomura Asset Strategy Fund | November 10, 2025 |
| Nomura Balanced Fund | October 24, 2025 |
| Nomura Global Listed Real Assets Fund | September 10, 2025 |
| Nomura Growth and Income Fund | September 10, 2025 |
| Nomura Systematic Emerging Markets Equity Fund | November 13, 2025 |
| Nomura Wealth Builder Fund | September 30, 2025 |
| Nomura VIP Asset Strategy Series | September 10, 2025 |
| Nomura VIP Balanced Series | September 10, 2025 |
| Nomura VIP Growth and Income Series | September 10, 2025 |
| Nomura VIP Total Return Series | September 10, 2025 |

---

The Management Agreements became effective on December 1, 2025, which was the effective date of the closing of Transaction. The Trusts employ the Manager to generally manage the investment and reinvestment of the assets of the Funds. In so doing, the Manager may hire one or more sub-advisors to carry out the investment program of the Funds, subject to the approval of the Board. The Manager continuously reviews and supervises the investment program of the Funds. The Manager furnishes regular reports to the Board regarding the investment program and performance of the Funds.

Pursuant to the Management Agreement, the Manager has full discretion and responsibility, subject to the overall supervision of the Board, to select and contract with one or more investment sub-advisors, to manage the investment operations and composition of the Funds, and to render investment advice for the Funds, including the purchase, retention, and disposition of investments, securities, and cash held by the Funds. The Management Agreement obligates the Manager to implement decisions with respect to the allocation or reallocation of each Fund's assets among one or more current or additional sub-advisors, and to monitor the sub-advisors' compliance with the Fund's investment objective(s), policies, and restrictions. Under the Management Agreement, the Trusts will bear the expenses of conducting their business. In addition, the Manager pays the salaries of all officers and Trustees of the Trusts who are officers, directors, or employees of the Manager or its affiliates.

As compensation for the services rendered under the Management Agreement, the Funds pay the Manager an annual management fee as a percentage of average daily net assets as described in Exhibit A. During the last fiscal year, the Funds paid investment management fees to the Manager as described in Exhibit B.

As compensation for the services rendered under the Sub-Advisory Agreements, the Manager pays the sub-advisors of the Funds fees as a percentage of the Funds' average daily net assets as described in Exhibit C.

The name and principal occupation of each executive officer of the Manager is listed below. The address of each officer is 100 Independence, 610 Market Street, Philadelphia, PA 19106.

---

| | |
|:---|:---|
| **Officer** | **Position** |
| Shawn K. Lytle | President/Chief Executive Officer |
| Michael F. Capuzzi | Senior Vice President/U.S. Chief Operating Officer/Managing Director |
| Richard Salus | Senior Vice President/Global Head of Fund Services/Managing Director |
| David F. Connor | Senior Vice President/General Counsel/Secretary/Managing Director |
| Marty Wolin | Senior Vice President/Chief Compliance Officer/Anti-Money Laundering Officer/Managing Director |

---

------

#### MACQUARIE INVESTMENT MANAGEMENT GLOBAL LIMITED

#### <br>
MIMGL, headquartered at Level 6, 50 Martin Place, Sydney NSW 2000, Australia, was approved by the Board to serve as a sub-advisor to the Funds at the Meeting. The ultimate parent company of the MIMGL is Macquarie Group Limited ("MGL"), the ultimate parent of Macquarie Group, an international financial services company. As of September 30, 2025, MIMGL's total assets under management were approximately $132.1 billion. The effective date for MIMGL's hiring for the Funds it had not previously managed, and the continuation of its sub-advisory services for the Funds it had previously managed, was December 1, 2025.

MIMGL discharges its responsibilities subject to the oversight and supervision of the Manager. MIMGL is compensated out of the fees that the Manager receives from the Funds. There will be no increase in the advisory fees paid by the Funds to the Manager as a consequence of the implementation of the Sub-Advisory Agreement. The fees paid by the Manager to MIMGL depend upon the fee rates negotiated by the Manager and approved by the Board and on the percentage of the Funds' assets allocated to MIMGL by the Manager. In accordance with procedures adopted by the Board, MIMGL may effect Fund portfolio transactions through an affiliated broker/dealer and the affiliated broker/dealer may receive brokerage commissions in connection therewith as permitted by applicable law. The Sub-Advisory Agreement is dated as of December 1, 2025. Prior to the closing of Nomura's acquisition of Macquarie's U.S. and European public asset management business on December 1, 2025, MIMGL and the Manager were affiliates.

MIMGL does not serve as an investment advisor or sub-advisor with a similar investment objective similar to the Funds.

The names and principal occupations of the principal executive officers and/or directors of MIMGL are listed below. The address of each principal executive officer and/or director listed below, as it relates to the person's position with MIMGL, is Level 6, 50 Martin Place, Sydney NSW 2000, Australia:

---

| | |
|:---|:---|
| **Name** | **Title with MIMGL** |
| Bruce Neil Terry | Director |
| Scot Fraser Thompson | Director |
| Lee Mark Binks | Chief Compliance Officer |
| Dean Cameron Stewart | Director |
| Monique Gavegan | Director |
| Christopher John Hurst | Director |

---

#### THE SUB-ADVISORY AGREEMENT

The Sub-Advisory Agreement was approved by the Board at the Meeting, which was called for the purpose of approving the Sub-Advisory Agreement for an initial term of two years. Thereafter, continuance of the Sub-Advisory Agreement will require the annual approval of the Board, including a majority of the Independent Trustees. The Sub-Advisory Agreement provides that it will terminate automatically in the event of its assignment.

The terms of the Sub-Advisory Agreement are substantially similar to the terms of the prior sub-advisory agreement between the Manager and MIMGL.

------

The Sub-Advisory Agreement provides that MIMGL, among other duties, will make all investment decisions for its allocated portion of the Funds' investment portfolio in accordance with the Funds' investment objectives, policies, and restrictions. MIMGL, subject to the supervision of the Board and the Manager, will conduct an ongoing program of investment, evaluation, and, if appropriate, sale and reinvestment of its allocated portion of the Funds' assets. MIMGL also will perform certain other administrative and compliance-related functions in connection with the management of its allocated portion of the Funds' investment portfolios.

The MIMGL Sub-Advisory Agreement provides for MIMGL to be compensated based on the average daily net assets of the Funds allocated to MIMGL. MIMGL is compensated from the fees that the Manager receives from the Funds. MIMGL generally will pay all expenses it incurs in connection with its activities under the Sub-Advisory Agreement, other than the costs of the Funds' portfolio securities and other investments.

The Sub-Advisory Agreement may be terminated without the payment of any penalty by: (i) the Manager or the Trusts, at any time, without the payment of a penalty, on written notice to MIMGL of the Investment Manager's or the Trusts' intention to do so, in the case of the Trusts pursuant to action by the Board or pursuant to the vote of a majority of the outstanding voting securities of the Funds, or (ii) MIMGL, on not less than thirty (30) days' written notice to the Manager and the Trusts.

#### THE MANAGER'S RECOMMENDATION AND THE BOARD'S CONSIDERATIONS REGARDING THE SUB-ADVISORY AGREEMENT

The Manager recommended the approval of the Sub-Advisory Agreement. In reaching the decision to approve the Sub-Advisory Agreement, the Board considered and reviewed information about MIMGL, including its personnel, operations and financial condition, which had been provided by MIMGL and the Manager. The Board reviewed memoranda and responses to requests that the Board submitted in advance regarding the Sub-Advisory Agreement, the various services proposed to be rendered by MIMGL; and material updates to the Sub-Adviser's 15(c) information request responses in connection with the Existing Sub-Advised Funds' prior annual contract renewal review. This material included (without limitation): a description of MIMGL's proposed sub-advisory fees under the Sub-Advisory Agreement; information concerning MIMGL's organizational structure and the experience of its investment management personnel; various material items in relation to MIMGL's personnel, organization and policies; and a copy of the Sub-Advisory Agreement.

In considering such materials, the Independent Trustees received assistance and advice from and met separately with independent counsel. While attention was given to all information furnished, the following discusses some primary factors relevant to the Board's decision. This discussion of the information and factors considered by the Board (as well as the discussion above) is not intended to be exhaustive, but rather summarizes certain factors considered by the Board. In view of the wide variety of factors considered, the Board did not, unless otherwise noted, find it practicable to quantify or otherwise assign relative weights to the following factors. In addition, individual Trustees may have assigned different weights to various factors.

** 

<br> *Nature, Extent and Quality of Services.* The Board considered the sub-advisory services that MIMGL historically provided to the Existing Sub-Advised Funds. In particular, the Board specifically considered that the Sub-Advisory Agreement contains substantially similar provisions to those in the current Sub-Advisory Agreements. The Board therefore considered the many reports furnished to them throughout 2024 and 2025 at regular Board meetings covering matters such as the relative performance of the Existing Sub-Advised Funds, the compliance of portfolio managers with the investment policies, strategies, and restrictions for the Existing Sub-Advised Funds, the compliance of management personnel

------

with the Code of Ethics adopted throughout the Macquarie Funds complex, and the adherence to fair value pricing procedures as established by the Board. The Manager and Nomura stated that the nature, extent, and quality of services currently provided to the Existing Sub-Advised Funds and their shareholders were very likely to continue under the Sub-Advisory Agreement. The memoranda MIMGL provided discussed changes to portfolio managers, key personnel and senior leadership positions at MIMGL after the Transaction and stated there were no material changes to MIMGL's organizational structure.

*Investment Performance.* In evaluating performance, the Board recognized that MIMGL had not yet begun managing the New Sub-Advised Funds. The Board considered the overall performance of the Existing Sub-Advised Funds (including performance over various time periods provided in the memoranda from MIMGL), considered performance reports and discussions with portfolio managers at Board meetings throughout the year, and considered its prior review of investment performance in connection with the approval of the current Sub-Advisory Agreement at a prior Board meeting. The Board also considered the Manager's representation that the Manager did not currently expect the Transaction to cause any material change to the Existing Sub-Advised Funds' portfolio management teams responsible for investment performance, the expenses were not expected to increase as a result of the Transaction, the Existing Sub-Advised Funds were not expected to bear any Transaction-related expenses, and there was not expected to be an "unfair burden" imposed on the Existing Sub-Advised Funds as a result of the Transaction.

*Profitability, Economies of Scale and Fall-Out Benefits.* Information about MIMGL's profitability from its relationship with the New Funds was not available because it had not begun to provide services to the New Sub-Advised Fund. The Board considered information already provided at Board meetings throughout the year about MIMGL's profitability from its relationship with the Existing Sub-Advised Funds. The Trustees also considered information provided about MIMGL's economies of scale, including that economies of scale are shared with the Funds and their shareholders through DMC's investment management fee breakpoints paid to the Manager so that as a Fund grows in size, its effective investment management fee rate declines, and they also noted that DMC had put in place a fee waiver for the applicable Funds that is currently in effect. The Board was also provided with information on potential fall-out benefits derived or to be derived by MIMGL in connection with its relationship with the Funds, such as soft dollar arrangements.

*Sub-advisory Fees.* The Board considered the appropriateness of the sub-advisory fees considering the nature, extent, and quality of the sub-advisory services to be provided by the Sub-Advisor. The sub-advisory fees are paid by the Manager to the Sub-Advisor and are not additional fees borne by the Funds, and the management fee paid by the Funds to the Manager would stay the same at current asset levels. The sub-advisory fee rates would remain the same for the Existing Sub-Advised Funds, which would also be the same sub-advisory fee rates for the New Sub-Advised Funds. The Board considered information provided at Board meetings throughout the year and in connection with the approval of the current Sub-Advisory Agreement at a prior Board meeting showing that MIMGL's sub-advisory fees for the Funds were competitive with those charged by MIMGL to other comparable investment companies or accounts and was informed by DMC that MIMGL's sub-advisory fees were competitive with fees of other investment managers that had been considered as possible sub-advisors to the Funds. The Board concluded that the proposed compensation payable to MIMGL was fair and reasonable.

#### GENERAL INFORMATION

#### Distributor

The Funds' distributor, Delaware Distributors, L.P. ("Distributor"), located at 100 Independence, 610 Market Street, Philadelphia, PA 19106-2354, serves as the national distributor of the Funds' shares under a Distribution Agreement dated December 1, 2025. The Distributor is an affiliate of the Manager and

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bears all of the costs of promotion and distribution, except for payments by the retail class shares under their respective Rule 12b-1 Plans. The Distributor is an indirect subsidiary of Nomura Asset Management International Inc., and, therefore, of Nomura. The Distributor has agreed to use its best efforts to sell shares of the Funds. Shares of the Funds are offered on a continuous basis by the Distributor and may be purchased through authorized investment dealers or directly by contracting the Distributor or the Trusts. The Distributor also serves as the national distributor for the Nomura Funds. The Board annually reviews fees paid to the Distributor.

#### Transfer Agent, Administrator, and Fund Accountant

Delaware Investments Fund Services Company ("DIFSC"), located at 100 Independence, 610 Market Street, Philadelphia, PA 19106-2354, serves as the Trusts' shareholder servicing, dividend disbursing, and transfer agent. DIFSC provides fund accounting and financial administration oversight services to the Funds. Those services include overseeing the Funds' pricing process, the calculation and payment of Fund expenses, and financial reporting in shareholder reports, registration statements, and other regulatory filings. Additionally, DIFSC manages the process for the payment of dividends and distributions and the dissemination of Fund net asset values and performance data. DIFSC is an affiliate of the Manager, and is an indirect subsidiary of Nomura Asset Management International Inc. and, therefore, of Nomura.

The Bank of New York Mellon, located at 240 Greenwich Street, New York, NY 10286-0001, provides fund accounting and financial administration services to the Funds. Those services include performing functions related to calculating the Funds' net asset value and providing financial reporting information, regulatory compliance testing and other related accounting services.

#### Payments to Affiliated Brokers

#### <br>
During the last fiscal year, the Funds did not pay any commissions to affiliated brokers.

#### Shares Outstanding

#### <br>
The table in Exhibit D shows the number of shares outstanding as of the Record Date for each class of each of the Funds.

#### Record of Beneficial Ownership

#### <br>
As of Record Date, the shareholders holding 5% or more of total outstanding shares of any Class of shares of each Fund are described in Exhibit E. As of Record Date, the Manager believes that the Funds' officers and Trustees directly owned less than 1% of the outstanding shares of each Class of each Fund.

#### Householding

Only one copy of the Notice may be mailed to households, even if more than one person in a household is a shareholder of record of a Fund as of the Record Date, unless the Trust has received instructions to the contrary. Additional copies of the Notice or copies of the Joint Information Statement may be obtained, without charge, by contacting your participating securities dealer or other financial intermediary or, if you own Fund shares directly through the Fund's service agent, by calling the Fund's service agent toll free at 800-523-1918. If you do not want the mailing of the Notice or the Joint Information Statement, as applicable, to be combined with those for other members of your household in the future, or if you are receiving multiple copies and would rather receive just one copy for the household, please contact your participating securities dealer or other financial intermediary or, if you own Fund shares directly through the Fund's service agent, by calling the Fund's service agent.

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#### Financial Information

Shareholders can obtain a copy of the Funds' most recent Annual and Semiannual Reports, without charge, by contacting their participating securities dealer or other applicable financial intermediary or, if a shareholder owns Fund shares directly through the Funds' service agent, by calling the Funds' service agent toll free at 800-523-1918.

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#### EXHIBIT A

#### MANAGEMENT FEE SCHEDULE

As compensation for services rendered under the Investment Management Agreement, the Manager is entitled to receive an annual fee equal to the following percentage rates of the average daily net assets of the Funds:

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| | |
|:---|:---|
| **Fund** | Management Fee (annual rate as a percentage of average daily net assets) |
| **Nomura Asset Strategy Fund** | 0.70% of net assets up to $1 billion<br> 0.65% of net assets over $1 billion and up to $2 billion<br> 0.60% of net assets over $2 billion and up to $3 billion<br> 0.55% of net assets over $3 billion and up to $28 billion<br> 0.545% of net assets over $28 billion and up to $53 billion<br> 0.54% of net assets over $53 billion<br>|
| **Nomura Balanced Fund** | 0.70% of net assets up to $1 billion<br> 0.65% of net assets over $1 billion and up to $2 billion<br> 0.60% of net assets over $2 billion and up to $3 billion<br> 0.55% of net assets over $3 billion and up to $5 billion<br> 0.54% of net assets over $5 billion and up to $10 billion<br> 0.53% of net assets over $10 billion<br>|
| **Nomura Systematic Emerging Markets Equity Fund** | 1.00% of net assets up to $500 million<br> 0.85% of net assets over $500 million and up to $1 billion<br> 0.83% of net assets over $1 billion and up to $2 billion<br> 0.80% of net assets over $2 billion and up to $3 billion<br> 0.76% of net assets over $3 billion and up to $5 billion<br> 0.755% of net assets over $5 billion and up to $10 billion<br> 0.75% of net assets over $10 billion |
| **Nomura VIP Asset Strategy Series** | 0.70% of net assets up to $1 billion<br> 0.65% of net assets over $1 billion and up to $2 billion<br> 0.60% of net assets over $2 billion and up to $3 billion<br> 0.55% of net assets over $3 billion<br>|
| **Nomura VIP Balanced Series** | 0.70% of net assets up to $1 billion<br> 0.65% of net assets over $1 billion and up to $2 billion<br> 0.60% of net assets over $2 billion and up to $3 billion<br> 0.55% of net assets over $3 billion<br>|
| **Nomura VIP Growth and Income Series** | 0.65% on the first $500 million<br> 0.60% on the next $500 million<br> 0.55% on next $1.5 billion<br> 0.50% on assets in excess of $2.5 billion<br>|
| **Nomura VIP Total Return Series** | 0.65% on the first $500 million<br> 0.60% on the next $500 million<br> 0.55% on next $1.5 billion<br> 0.50% on assets in excess of $2.5 billion<br>|

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---

| | |
|:---|:---|
| **Nomura Growth and Income Fund** | 0.65% on the first $500 million<br> 0.60% on the next $500 million<br> 0.55% on next $1.5 billion<br> 0.50% on assets in excess of $2.5 billion |
| **Nomura Wealth Builder Fund** | 0.65% on the first $500 million;<br> 0.60% on the next $500 million;<br> 0.55% on the next $1.5 billion; and<br> 0.50% of the average daily net assets in excess of $2.5 billion |
| **Nomura Global Listed Real Assets Fund** | 0.75% on the first $500 million;<br> 0.70% on the next $500 million;<br> 0.65% on the next $1.5 billion;<br> 0.60% on assets in excess of $2.5 billion<br>|

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#### EXHIBIT B

#### MANAGEMENT FEES PAID

During the fiscal year ended March 31, 2025, the Funds paid the following investment management fees to the Manager:

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| | |
|:---|:---|
| **Fund** | **Management Fees Paid** |
| **Nomura Asset Strategy Fund** | $12,252,211 earned<br> $12,252,211 paid<br> $0 waived |
| **Nomura Balanced Fund** | $10,561,089 earned<br> $10,064,649 paid<br> $496,440 waived |
| **Nomura Systematic Emerging Markets Equity Fund** | $6,771,528 earned<br> $3,692,757 paid<br> $3,078,771 waived |

---

During the fiscal year ended December 31, 2024, the Funds paid the following investment management fees to the Manager:

---

| | |
|:---|:---|
| **Fund** | **Management Fees Paid** |
| **Nomura VIP Asset Strategy Series** | $4,103,137 earned<br> $3,113,198 paid<br> $989,939 waived |
| **Nomura VIP Balanced Series** | $1,558,261 earned<br> $1,558,261 paid<br> $0 waived |
| **Nomura VIP Growth and Income Series** | $4,180,523 earned<br> $4,180,523 paid<br> $0 waived |
| **Nomura VIP Total Return Series** | $260,102 earned<br> $191,293 paid<br> $68,809 waived |

---

During the fiscal year ended September 30, 2024, the Fund paid the following investment management fees to the Manager:

---

| | |
|:---|:---|
| **Fund** | **Management Fees Paid** |
| **Nomura Growth and Income Fund** | $7,779,140 earned<br> $7,755,055 paid<br> $24,085 waived |

---

During the fiscal year ended November 30, 2024, the Fund paid the following investment management fees to the Manager:

---

| | |
|:---|:---|
| **Fund** | **Management Fees Paid** |
| **Nomura Wealth Builder Fund** | $5,615,405 earned<br> $5,383,402 paid<br> $232,003 waived |

---

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During the fiscal year ended October 31, 2024, the Fund paid the following investment management fees to the Manager:

---

| | |
|:---|:---|
| **Fund** | **Management Fees Paid** |
| **Nomura Global Listed Real Assets Fund** | $836,958 earned<br> $682,489 paid<br> $154,469 waived |

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#### EXHIBIT C

#### SUB-ADVISORY FEE SCHEDULE AND FEES PAID

For the fiscal year ended March 31, 2025, the Manager paid the sub-advisors annualized investment sub-advisory fees as a percentage of the Funds' average daily net assets as described below:

---

| | | |
|:---|:---|:---|
| <br> **Fund**<br>| <br> **Sub-Advisory fees for fiscal year ended March 31, 2025**<br>| <br> **Annualized Sub-Advisory Fees as a percentage of average daily net assets for fiscal year ended March 31, 2025**<br>|
| <br> **Nomura Balanced Fund**<br>MIMAK<br>| <br> $2034309<br>| <br> 0.13%<br>|
| <br> **Nomura Asset Strategy Fund**<br>MIMAK<br>| $2460310 | <br> 0.14%<br>|
| <br> **Nomura Systematic Emerging Markets Equity Fund**<br> <br> MIMGL<br>| <br> $1429147<br>| <br> 0.20%<br>|
| <br> **Nomura Systematic Emerging Markets Equity Fund**<br> <br> MIMEL<br>| <br> $0<br>| <br> 0.00%<br>|

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For the fiscal year ended December 31, 2024, the Manager paid the sub-advisors annualized investment sub-advisory fees as a percentage of the Funds' average daily net assets as described below:

---

| | | |
|:---|:---|:---|
| <br> **Fund**<br>| <br> **Sub-Advisory fees for fiscal year ended December 31, 2024**<br>| <br> **Annualized Sub-Advisory Fees as a percentage of average daily net assets for fiscal year ended December 31, 2024**<br>|
| <br> **Nomura VIP Balanced Series**<br>MIMAK<br>| <br> $286690<br>| <br> 0.13%<br>|
| <br> **Nomura VIP Asset Strategy Series**<br>MIMAK<br>| <br> $780404<br>| <br> 0.13%<br>|
| <br> **Nomura VIP Growth and Income Series**<br>MIMGL<br>| <br> $1310174<br>| <br> 0.20%<br>|
| <br> **Nomura VIP Total Return Series**<br> <br> MIMAK<br>| <br> $54181<br>| <br> 0.14%<br>|
| <br> **Nomura VIP Total Return Series**<br> <br> MIMGL<br>| <br> $32313<br>| <br> 0.08%<br>|

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<sup>1</sup> MIMAK is Macquarie Investment Management Austria Kapitalanlage AG.

MIMEL is Macquarie Investment Management Europe Limited.

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For the fiscal year ended September 30, 2024, the Manager paid the sub-advisors annualized investment sub-advisory fees as a percentage of the Fund's average daily net assets as described below:

---

| | | |
|:---|:---|:---|
| <br> **Fund**<br>| <br> **Sub-Advisory fees for fiscal year ended September 30, 2024**<br>| <br> **Annualized Sub-Advisory Fees as a percentage of average daily net assets for fiscal year ended September 30, 2024**<br>|
| <br> **Nomura Growth and Income Fund**<br>MIMGL<br>| <br> $2557658<br>| <br> 0.20%<br>|

---

For the fiscal year ended November 30, 2024, the Manager paid the sub-advisors annualized investment sub-advisory fees as a percentage of the Fund's average daily net assets as described below:

---

| | | |
|:---|:---|:---|
| <br> **Fund**<br>| <br> **Sub-Advisory fees for fiscal year ended November 30, 2024**<br>| <br> **Annualized Sub-Advisory Fees as a percentage of average daily net assets for fiscal year ended November 30, 2024**<br>|
| <br> **Nomura Wealth Builder Fund**<br> <br> MIMAK<br>| <br> $1207632<br>| <br> 0.14%<br>|
| <br> **Nomura Wealth Builder Fund**<br> <br> MIMGL<br>| <br> $710426<br>| <br> 0.08%<br>|
| <br> **Nomura Wealth Builder Fund**<br> <br> MIMEL<br>| <br> $7672<br>| <br> 0.00%<br>|

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For the fiscal year ended October 31, 2024, the Manager paid the sub-advisors annualized investment sub-advisory fees as a percentage of the Fund's average daily net assets as described below:

---

| | | |
|:---|:---|:---|
| <br> **Fund**<br>| <br> **Sub-Advisory fees for fiscal year ended October 31, 2024**<br>| <br> **Annualized Sub-Advisory Fees as a percentage of average daily net assets for fiscal year ended October 31, 2024**<br>|
| <br> **Nomura Global Listed Real Assets Fund**<br> <br> MIMAK<br>| <br> $143789<br>| <br> 0.13%<br>|
| <br> **Nomura Global Listed Real Assets Fund**<br> <br> MIMGL<br>| <br> $46808<br>| <br> 0.04%<br>|
| <br> **Nomura Global Listed Real Assets Fund**<br> <br> MIMEL<br>| <br> $16856<br>| <br> 0.02%<br>|

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#### EXHIBIT D

#### NUMBER OF SHARES OF THE FUND OUTSTANDING

#### As of the Record Date

---

| | |
|:---|:---|
| **Fund** | **Shares Outstanding** |
| **Nomura Asset Strategy Fund** | Class A: 53,024,165.192<br> Class C: 1,464,350.716<br> Institutional Class: 14,878,900.278<br> Class R6: 721,782.518<br> Class R: 921,776,615<br> Class Y: 3,161,186.648<br> Total: 74,172,161.967 |
| **Nomura Balanced Fund** | Class A: 57,425,677.036<br> Class C: 1,346,745.574<br> Institutional Class: 17,290,032.834<br> Class R6: 393,104.507<br> Class R: 400,190.169<br> Class Y: 323,097.132<br> Total: 77,178,847.252 |
| **Nomura Systematic Emerging Markets Equity Fund** | Class A: 6,317,248.162<br> Class C: 636,674.373<br> Institutional Class: 15,918,139.601<br> Class R6: 3,686,817.348<br> Class R: 514,236.626<br> Class Y: 1,341,775.470<br> Total: 28,414,891.580 |
| **Nomura VIP Asset Strategy Series** | Service Class: 55,584,490.738<br> Standard Class: 51,669.975<br> Total: 55,636,160.713 |
| **Nomura VIP Balanced Series** | Service Class: 34,440,695.932<br> Total: 34,440,695.932 |
| **Nomura VIP Growth and Income Series** | Standard Class: 23,501,787.861<br> Total: 23,501,787.861 |
| **Nomura VIP Total Return Series** | Service Class: 1,094.843<br> Standard Class: 2,690,143.811<br> Total: 2,691,238.654 |
| **Nomura Growth and Income Fund** | Class A: 74,597,312.597<br> Institutional Class: 11,931,695.001<br> Total: 86,873,749.468 |
| **Nomura Wealth Builder Fund** | Class A: 42,993,217.498<br> Class C: 569,577.808<br> Institutional Class: 6,154,113.406<br> Class R6: 1,403,032.481<br> Class R: 83,207.181<br> Total: 51,203,148.374 |
| **Nomura Global Listed Real Assets Fund** | Class A: 2,324,353.314<br> Class C: 19,833.360<br> Institutional Class: 4,924,385.613<br> Class R6: 437,326.962<br> Class R: 169,377.692<br> Total: 7,875,276.941 |

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#### EXHIBIT E
As of the Record Date, the Manager believes the following shareholders held of record 5% or more of the outstanding shares of each Class of each Fund. The Manager does not have knowledge of beneficial owners.

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| | | |
|:---|:---|:---|
| **Fund/Class** | **Name and Address of Account** | **Percentage** |
| NOMURA ASSET STRATEGY FUND<br> CLASS A | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 16.96% |
| NOMURA ASSET STRATEGY FUND<br> CLASS A | MLPF&S FOR THE SOLE BENEFIT OF ITS<br> CUSTOMERS<br> ATTENTION: FUND ADMIN SEC<br> 4800 DEER LAKE DRIVE EAST, 2ND FL<br> JACKSONVILLE FL 32246-6484 | 6.36% |
| NOMURA ASSET STRATEGY FUND<br> CLASS A | MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENEFIT OF ITS<br> CUSTOMERS<br> 1 NEW YORK PLAZA FL 12<br> NEW YORK NY 10004-1901 | 9.92% |
| NOMURA ASSET STRATEGY FUND<br> CLASS A | NATIONAL FINANCIAL SERVICES LLC<br> (FBO) OUR CUSTOMERS<br> ATTN MUTUAL FUNDS DEPARTMENT<br> 4TH FLOOR<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310 | 8.47% |
| NOMURA ASSET STRATEGY FUND<br> CLASS A | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 9.02% |

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| | | |
|:---|:---|:---|
| NOMURA ASSET STRATEGY FUND<br> CLASS A | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 11.69% |
| NOMURA ASSET STRATEGY FUND<br> CLASS C | AMERICAN ENTERPRISE INV SVCS<br> 901 SOUTH 3RD AVENUE<br> MINNEAPOLIS, MN 55402 | 5.07% |
| NOMURA ASSET STRATEGY FUND<br> CLASS C | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 21.84% |
| NOMURA ASSET STRATEGY FUND<br> CLASS C | NATIONAL FINANCIAL SERVICES LLC<br> (FBO) OUR CUSTOMERS<br> ATTN MUTUAL FUNDS DEPARTMENT<br> 4TH FLOOR<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310 | 13.10% |
| NOMURA ASSET STRATEGY FUND<br> CLASS C | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 8.99% |
| NOMURA ASSET STRATEGY FUND<br> CLASS C | RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PARKWAY<br> ST PETERSBURG FL 33713 | 7.39% |

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| | | |
|:---|:---|:---|
| NOMURA ASSET STRATEGY FUND<br> CLASS C | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 11.96% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R | MASSACHUSETTS MUTUAL LIFE INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111<br>| 5.15% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R | SAMMONS FINANCIAL NETWORK LLC<br> 4546 CORPORATE DR STE 100<br> WDM IA 50266-5911<br>| 22.95% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R | STATE STREET BANK AND TRUST<br> AS TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> 1 LINCOLN ST<br> BOSTON MA 02111-2901 | 9.25% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R | TALCOTT RESOLUTION LIFE INSURANCE C<br> PO BOX 5051<br> HARTFORD CT 06102<br>| 38.62% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R6 | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 5.25% |

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| | | |
|:---|:---|:---|
| NOMURA ASSET STRATEGY FUND<br> CLASS R6 | NATIONWIDE TRUSTCO FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 14.18% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R6 | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 29.83% |
| NOMURA ASSET STRATEGY FUND<br> CLASS R6 | STATE STREET BANK AND TRUST<br> AS TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> 1 LINCOLN ST<br> BOSTON MA 02111-2901 | 7.04% |
| NOMURA ASSET STRATEGY FUND<br> CLASS Y | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY A/C FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901 | 10.32% |
| NOMURA ASSET STRATEGY FUND<br> CLASS Y | NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCL BENEFIT OF OUR CUSTOMERS<br> ATTN: MUTUAL FUNDS DEPT, 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995 | 5.38% |
| NOMURA ASSET STRATEGY FUND<br> CLASS Y | NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 14.07% |

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| | | |
|:---|:---|:---|
| NOMURA ASSET STRATEGY FUND CLASS Y | VOYA INSTITUTIONAL TRUST COMPANY<br> ONE ORANGE WAY<br> WINDSOR CT 06095-4773<br>| 53.56% |
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY A/C FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901 | 5.60% |
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 45.58% |
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCL BENEFIT OF OUR CUSTOMERS<br> ATTN: MUTUAL FUNDS DEPT, 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995 | 6.42% |
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 6.52% |
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PARKWAY<br> ST PETERSBURG FL 33713 | 5.84% |

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| | | |
|:---|:---|:---|
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | UBS WM USA<br> SPEC CDY A/C EXL BEN CUSTOMERS<br> OF UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN, NJ 07086 | 6.50% |
| NOMURA ASSET STRATEGY FUND INSTITUTIONAL CLASS | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 7.11% |
| NOMURA BALANCED FUND<br> CLASS A | EDWARD D JONES AND CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER ROAD<br> ST LOUIS MO 63131-3710 | 5.86% |
| NOMURA BALANCED FUND<br> CLASS A | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 59.82% |
| NOMURA BALANCED FUND<br> CLASS C | AMERICAN ENTERPRISE INV SVCS<br> 901 SOUTH 3RD AVENUE<br> MINNEAPOLIS, MN 55402 | 10.44% |
| NOMURA BALANCED FUND<br> CLASS C | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 5.14% |

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| | | |
|:---|:---|:---|
| NOMURA BALANCED FUND<br> CLASS C | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 36.58% |
| NOMURA BALANCED FUND<br> CLASS C | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 6.59% |
| NOMURA BALANCED FUND<br> CLASS C | RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PARKWAY<br> ST PETERSBURG FL 33713 | 8.21% |
| NOMURA BALANCED FUND<br> CLASS C | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 6.13% |
| NOMURA BALANCED FUND<br> CLASS R | AMERICAN UNITED LIFE INS CO<br> GROUP RETIREMENT ACCOUNT<br> 1 AMERICAN SQ<br> INDIANAPOLIS IN 46282-0002 | 8.95% |
| NOMURA BALANCED FUND<br> CLASS R | LINCOLN RETIREMENT SERVICES CO<br> FBO ARMSTRONG AMBULANCE SVC 401K<br> PO BOX 7876<br> FORT WAYNE IN 46801-7876 | 28.23% |

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| | | |
|:---|:---|:---|
| NOMURA BALANCED FUND<br> CLASS R | SAMMONS FINANCIAL NETWORK LLC<br> 4546 CORPORATE DR STE 100<br> WDM IA 50266-5911<br>| 43.94% |
| NOMURA BALANCED FUND<br> CLASS R | VOYA INSTITUTIONAL TRUST COMPANY<br> ONE ORANGE WAY<br> WINDSOR CT 06095-4773<br>| 11.78% |
| NOMURA BALANCED FUND<br> CLASS R6 | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 18.48% |
| NOMURA BALANCED FUND<br> CLASS R6 | EDWARD D JONES AND CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER ROAD<br> ST LOUIS MO 63131-3710 | 38.46% |
| NOMURA BALANCED FUND<br> CLASS R6 | NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCL BENEFIT OF OUR CUSTOMERS<br> ATTN: MUTUAL FUNDS DEPT, 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995 | 7.63% |
| NOMURA BALANCED FUND<br> CLASS R6 | NATIONWIDE TRUSTCO FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 8.33% |

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| | | |
|:---|:---|:---|
| NOMURA BALANCED FUND<br> CLASS R6 | OPPENHEIMER & CO INC. FBO<br> DAVID L LAPAN TRUSTEE<br> CARDIAC SERVICES INC PS PL<br> PS PLAN DTD 11/30/90 PAS<br> 6430 N SWAN RD STE 100<br> TUCSON AZ 84718 | 5.72% |
| NOMURA BALANCED FUND<br> CLASS Y | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY A/C FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901 | 11.62% |
| NOMURA BALANCED FUND<br> CLASS Y | MINNESOTA LIFE INSURANCE COMPANY<br> 400 ROBERT ST N STE A<br> SAINT PAUL MN 55101-2099 | 5.19% |
| NOMURA BALANCED FUND<br> CLASS Y | MLPF&S FOR THE SOLE BENEFIT OF ITS<br> CUSTOMERS<br> ATTENTION: FUND ADMIN SEC<br> 4800 DEER LAKE DRIVE EAST, 2ND FL<br> JACKSONVILLE FL 32246-6484 | 22.10% |
| NOMURA BALANCED FUND<br> CLASS Y | NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCL BENEFIT OF OUR CUSTOMERS<br> ATTN: MUTUAL FUNDS DEPT, 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995 | 18.15% |
| NOMURA BALANCED FUND<br> CLASS Y | NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 28.50% |

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| | | |
|:---|:---|:---|
| NOMURA BALANCED FUND INSTITUTIONAL CLASS | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 69.06% |
| NOMURA BALANCED FUND INSTITUTIONAL CLASS | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 5.27% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS A | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 48.40% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS A | NATIONAL FINANCIAL SERVICES LLC<br> (FBO) OUR CUSTOMERS<br> ATTN MUTUAL FUNDS DEPARTMENT<br> 4TH FLOOR<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310 | 6.74% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS A | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 5.96% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS C | AMERICAN ENTERPRISE INV SVCS<br> 901 SOUTH 3RD AVENUE<br> MINNEAPOLIS, MN 55402 | 27.01% |

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| | | |
|:---|:---|:---|
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS C | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 8.02% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS C | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 5.39% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS C | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 19.16% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> INSTITUTIONAL CLASS | AMERICAN ENTERPRISE INV SVCS<br> 901 SOUTH 3RD AVENUE<br> MINNEAPOLIS, MN 55402 | 11.95% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> INSTITUTIONAL CLASS | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY A/C FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901 | 5.20% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> INSTITUTIONAL CLASS | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 18.45% |

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| | | |
|:---|:---|:---|
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> INSTITUTIONAL CLASS | MLPF&S FOR THE SOLE BENEFIT OF ITS<br> CUSTOMERS<br> ATTENTION: FUND ADMIN SEC<br> 4800 DEER LAKE DRIVE EAST, 2ND FL<br> JACKSONVILLE FL 32246-6484 | 14.88% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> INSTITUTIONAL CLASS | MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENEFIT OF ITS<br> CUSTOMERS<br> 1 NEW YORK PLAZA FL 12<br> NEW YORK NY 10004-1901 | 8.57% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> INSTITUTIONAL CLASS | NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCL BENEFIT OF OUR CUSTOMERS<br> ATTN: MUTUAL FUNDS DEPT, 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995 | 11.75% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R | STATE STREET BANK AND TRUST<br> AS TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> 1 LINCOLN ST<br> BOSTON MA 02111-2901 | 32.47% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R | VRSCO<br> FBO VTC CUST TTEE FBO<br> FRONT PORCH 403B RET PLAN<br> 2727-A ALLEN PARKWAY, 4-D1<br> HOUSTON, TX 77019 | 42.67% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R6 | DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001 | 10.50% |

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| | | |
|:---|:---|:---|
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R6 | EDWARD D JONES AND CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER ROAD<br> ST LOUIS MO 63131-3710 | 25.88% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R6 | EMPOWER TRUST FBO<br> RECORDKEEPING FOR EMPLOYEE BENEFITS<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111 | 6.30% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R6 | NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCL BENEFIT OF OUR CUSTOMERS<br> ATTN: MUTUAL FUNDS DEPT, 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995 | 17.26% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R6 | STATE STREET BANK AND TRUST<br> AS TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> 1 LINCOLN ST<br> BOSTON MA 02111-2901 | 10.14% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS R6 | TIAA TRUST, N.A. AS CUST/TTEE<br> OF RETIREMENT PLANS<br> RECORDKEPT BY TIAA<br> ATTN: FUND OPERATIONS<br> 8500 ANDREW CARNEGIE BLVD.<br> CHARLOTTE, NC 28262-8500 | 5.22% |
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS Y | MLPF&S FOR THE SOLE BENEFIT OF ITS<br> CUSTOMERS<br> ATTENTION: FUND ADMIN SEC<br> 4800 DEER LAKE DRIVE EAST, 2ND FL<br> JACKSONVILLE FL 32246-6484 | 87.32% |

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| | | |
|:---|:---|:---|
| NOMURA SYSTEMATIC EMERGING MARKETS EQUITY FUND<br> CLASS Y | NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 5.50% |
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | AUGUSTAR LIFE INSURANCE CO<br> FBO ITS SEPARATE ACCOUNTS<br> 1 FINANCIAL WAY<br> CINCINNATI OH 45242-5800 | 15.40% |
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | MINNESOTA LIFE INSURANCE CO<br> INDIVIDUAL LIFE<br> 400 ROBERT ST N<br> SAINT PAUL MN 55101-2099 | 7.56% |
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | MINNESOTA LIFE INSURANCE CO<br> MINNESOTA LIFE WRVA<br> 400 ROBERT ST N<br> SAINT PAUL MN 55101-2099 | 5.51% |
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | NATIONWIDE LIFE INSURANCE CO<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 7.44% |
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | NATIONWIDE LIFE INSURANCE CO<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 15.14% |

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| | | |
|:---|:---|:---|
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | NATIONWIDE LIFE INSURANCE CO<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029 | 5.09% |
| NOMURA VIP ASSET STRATEGY SERIES<br> SERVICE CLASS | PACIFIC LIFE INS COMPANY<br> SEPARATE ACCOUNT A<br> 700 NEWPORT CENTER DR<br> NEWPORT BEACH CA 92660-6397 | 11.65% |
| NOMURA VIP ASSET STRATEGY SERIES STANDARD CLASS | IVY INVESTMENT MANAGEMENT COMPANY<br> ATTN: TREASURY DEPARTMENT<br> 6301 GLENWOOD ST<br> MISSION KS 66202-4291 | 46.72% |
| NOMURA VIP ASSET STRATEGY SERIES STANDARD CLASS | LINCOLN NATIONAL LIFE INSURANCE CO<br> 1300 S CLINTON ST<br> FORT WAYNE IN 46802-3506<br>| 37.49% |
| NOMURA VIP ASSET STRATEGY SERIES STANDARD CLASS | MASS MUTUAL LIFE INSURANCE COMPANY<br> 1295 STATE ST<br> MIP C105<br> SPRINGFIELD MA 01111-0001 | 8.05% |
| NOMURA VIP BALANCED SERIES<br> SERVICE CLASS | MINNESOTA LIFE INSURANCE CO<br> INDIVIDUAL ANNUITIES<br> 400 ROBERT ST N<br> SAINT PAUL MN 55101-2099 | 25.41% |

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| | | |
|:---|:---|:---|
| NOMURA VIP BALANCED SERIES<br> SERVICE CLASS | MINNESOTA LIFE INSURANCE CO<br> INDIVIDUAL LIFE<br> 400 ROBERT ST N<br> SAINT PAUL MN 55101-2099 | 52.65% |
| NOMURA VIP BALANCED SERIES<br> SERVICE CLASS | UNITED INVESTORS LIFE<br> ADVANTAGE II<br> PO BOX 10287<br> BIRMINGHAM AL 35202-0287 | 5.92% |
| NOMURA VIP GROWTH AND INCOME SERIES<br> STANDARD CLASS | BANK OF NEW YORK-MELLON CUST<br> MACQUARIE VIP PATHFINDER MOD<br> AGGR FUND MASTER ACCOUNT<br> ATTN ADAM DEITZ<br> 100 INDEPENDENCE 610 MARKET ST 7TH<br> PHILADELPHIA PA 19103 | 5.88% |
| NOMURA VIP GROWTH AND INCOME SERIES<br> STANDARD CLASS | FIRST INVESTORS LIFE LEVEL PREMIUM<br> VARIABLE LIFE INSURANCE<br> SEPARATE ACCOUNT B<br> 40 WALL ST<br> NEW YORK NY 10005 | 63.43% |
| NOMURA VIP GROWTH AND INCOME SERIES<br> STANDARD CLASS | FIRST INVESTORS LIFE<br> SEPARATE ACCOUNT E<br> 40 WALL ST<br> NEW YORK NY 10005 | 5.99% |
| NOMURA VIP GROWTH AND INCOME SERIES<br> STANDARD CLASS | FIRST INVESTORS LIFE<br> VARIABLE ANNUITY FUND C<br> 40 WALL ST<br> NEW YORK NY 10005 | 8.50% |

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| | | |
|:---|:---|:---|
| NOMURA VIP TOTAL RETURN SERIES SERVICE CLASS | MACQUARIE INVESTMENT MANAGEMENT<br> ADVISERS<br> ATTN RICK SALUS<br> 100 INDEPENDENCE<br> 610 MARKET STREET 7TH FLOOR<br> PHILADELPHIA PA 19106-2354 | 100.00% |
| NOMURA VIP TOTAL RETURN SERIES STANDARD CLASS | FIRST INVESTORS LIFE LEVEL PREMIUM<br> VARIABLE LIFE INSURANCE<br> SEPARATE ACCOUNT B<br> 40 WALL ST<br> NEW YORK NY 10005 | 33.96% |
| NOMURA VIP TOTAL RETURN SERIES STANDARD CLASS | FIRST INVESTORS LIFE<br> SEPARATE ACCOUNT E<br> 40 WALL ST<br> NEW YORK NY 10005 | 28.77% |
| NOMURA VIP TOTAL RETURN SERIES STANDARD CLASS | FIRST INVESTORS LIFE<br> VARIABLE ANNUITY FUND C<br> 40 WALL ST<br> NEW YORK NY 10005 | 17.80% |
| NOMURA VIP TOTAL RETURN SERIES STANDARD CLASS | FIRST INVESTORS LIFE<br> VARIABLE ANNUITY FUND D<br> 40 WALL ST<br> NEW YORK NY 10005 | 19.21% |
| NOMURA GROWTH AND INCOME FUND CLASS A | MATRIX TRUST COMPANY CUST. FBO<br> PEN SERV DELAWARE/FORESTERS<br> 717 17TH STREET<br> SUITE 1300<br> DENVER CO 80202 | 27.79% |

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| | | |
|:---|:---|:---|
| NOMURA GROWTH AND INCOME FUND CLASS R6 | BOND STREET CUSTODIANS LIMITED<br> ACF MACQUARIE ASSET MANAGEMENT<br> HOLDINGS P/L<br> MACQUARIE BANK C/O INTERNATIONAL<br> OPERATION SHELLEY STREET NO 1<br> SYDNEY NSW 2000 AUSTRALIA | 55.87% |
| NOMURA GROWTH AND INCOME FUND CLASS R6 | BOND STREET CUSTODIANS LIMITED<br> ACF MACQUARIE ASSET MANAGEMENT<br> HOLDINGS P/L<br> MACQUARIE BANK C/O INTERNATIONAL<br> OPERATION SHELLEY STREET NO 1<br> SYDNEY NSW 2000 AUSTRALIA | 13.22% |
| NOMURA GROWTH AND INCOME FUND CLASS R6 | MATRIX TRUST COMPANY CUST. FBO<br> PENSERV PENSELECT SMARTSAV<br> 717 17TH STREET<br> SUITE 1300<br> DENVER CO 80202 | 25.73% |
| NOMURA GROWTH AND INCOME FUND INSTITUTIONAL CLASS | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 16.91% |
| NOMURA GROWTH AND INCOME FUND INSTITUTIONAL CLASS | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 66.05% |
| NOMURA GROWTH AND INCOME FUND INSTITUTIONAL CLASS | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 8.76% |

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| | | |
|:---|:---|:---|
| NOMURA WEALTH BUILDER FUND<br> CLASS A | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 5.13% |
| NOMURA WEALTH BUILDER FUND<br> CLASS A | MATRIX TRUST COMPANY CUST. FBO<br> PEN SERV DELAWARE/FORESTERS<br> 717 17TH STREET<br> SUITE 1300<br> DENVER CO 80202 | 12.01% |
| NOMURA WEALTH BUILDER FUND<br> CLASS C | AMERICAN ENTERPRISE INV SVCS<br> 901 SOUTH 3RD AVENUE<br> MINNEAPOLIS, MN 55402 | 17.87% |
| NOMURA WEALTH BUILDER FUND<br> CLASS C | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 6.09% |
| NOMURA WEALTH BUILDER FUND<br> CLASS C | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 11.81% |
| NOMURA WEALTH BUILDER FUND<br> CLASS C | RBC CAPITAL MARKETS LLC<br> MUTUAL FUND OMNIBUS PROCESSING<br> OMNIBUS<br> ATTN MUTUAL FUND OPS MANAGER<br> 250 NICOLLET MALL SUITE 1400<br> MINNEAPOLIS MN 55401-1931 | 8.11% |

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| | | |
|:---|:---|:---|
| NOMURA WEALTH BUILDER FUND<br> CLASS C | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 21.69% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R | ASCENSUS TRUST COMPANY FBO<br> FINISH LINE TECHNLOGIES 401K PLAN<br> ASCENSUS TRUST COMPANY<br> PO BOX 10577<br> FARGO, ND 58106 | 13.73% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R | EMPOWER TRUST FBO<br> EMPOWER BENEFIT GRAND FATHERED PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111 | 18.13% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R | MID ATLANTIC TRUST COMPANY FBO<br> INDUSTRIAL PHYSICAL CAPABILITY<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH, PA 15222 | 14.41% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R | MID ATLANTIC TRUST COMPANY FBO<br> PETTERSEN AND SILBERMAN DENTAL<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH, PA 15222 | 6.25% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R | MID ATLANTIC TRUST COMPANY FBO<br> PMALLIANCE, INC 401K PLAN<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH, PA 15222 | 13.18% |

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| | | |
|:---|:---|:---|
| NOMURA WEALTH BUILDER FUND<br> CLASS R | MID ATLANTIC TRUST COMPANY FBO<br> TAYLOR CREATIVE INC 401(K)<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH, PA 15222 | 10.21% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R | MLPF&S FOR THE SOLE BENEFIT OF ITS<br> CUSTOMERS<br> ATTENTION: FUND ADMIN SEC<br> 4800 DEER LAKE DRIVE EAST, 2ND FL<br> JACKSONVILLE FL 32246-6484 | 9.95% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R6 | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 6.70% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R6 | LINCOLN RETIREMENT SERVICES COMPANY<br> FBO MMH INC<br> PO BOX 7876<br> FORT WAYNE IN 46801-7876 | 57.39% |
| NOMURA WEALTH BUILDER FUND<br> CLASS R6 | LINCOLN RETIREMENT SERVICES COMPANY<br> FBO MMH INC RETIREMENT PLAN<br> PO BOX 7876<br> FORT WAYNE IN 46801-7876 | 31.94% |
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 9.86% |

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| | | |
|:---|:---|:---|
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | MLPF&S FOR THE SOLE BENEFIT OF ITS<br> CUSTOMERS<br> ATTENTION: FUND ADMIN SEC<br> 4800 DEER LAKE DRIVE EAST, 2ND FL<br> JACKSONVILLE FL 32246-6484 | 20.40% |
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENEFIT OF ITS<br> CUSTOMERS<br> 1 NEW YORK PLAZA FL 12<br> NEW YORK NY 10004-1901 | 10.39% |
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | NATIONAL FINANCIAL SERVICES LLC<br> (FBO) OUR CUSTOMERS<br> ATTN MUTUAL FUNDS DEPARTMENT<br> 4TH FLOOR<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310 | 20.98% |
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PARKWAY<br> ST PETERSBURG FL 33713 | 6.52% |
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | UBS WM USA<br> SPEC CDY A/C EXL BEN CUSTOMERS<br> OF UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN, NJ 07086 | 5.66% |
| NOMURA WEALTH BUILDER FUND INSTITUTIONAL CLASS | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 5.82% |

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|:---|:---|:---|
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS A | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 5.17% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS A | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 9.46% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS A | NATIONAL FINANCIAL SERVICES LLC<br> (FBO) OUR CUSTOMERS<br> ATTN MUTUAL FUNDS DEPARTMENT<br> 4TH FLOOR<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310 | 15.25% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS A | PERSHING LLC<br> 1 PERSHING PLAZA<br> JERSEY CITY NJ 07399-0002<br>| 5.01% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS A | RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PARKWAY<br> ST PETERSBURG FL 33713 | 5.49% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS C | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 8.11% |

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|:---|:---|:---|
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS C | NATIONAL FINANCIAL SERVICES LLC<br> (FBO) OUR CUSTOMERS<br> ATTN MUTUAL FUNDS DEPARTMENT<br> 4TH FLOOR<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310 | 59.34% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS C | WELLS FARGO CLEARING SVCS LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET ST<br> SAINT LOUIS MO 63103-2523 | 17.87% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R | ASCENSUS TRUST COMPANY FBO<br> AG RISK SOLUTIONS RETIREMENT PLAN<br> P.O. BOX 10758<br> FARGO, ND 58106 | 29.55% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R | ASCENSUS TRUST COMPANY FBO<br> STEINKEMPER LAW PC LLO 401K<br> P.O. BOX 10758<br> FARGO, ND 58106 | 5.81% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R | ASCENSUS TRUST COMPANY FBO<br> VICTOR N. YAMOUTI PENSION PLAN<br> P.O. BOX 10758<br> FARGO, ND 58106 | 8.02% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R | EMPOWER TRUST FBO<br> EMPOWER BENEFIT GRAND FATHERED PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111 | 5.96% |

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|:---|:---|:---|
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R | MID ATLANTIC TRUST COMPANY FBO<br> PETROTEK ENGINEERING CORPORATION<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH, PA 15222 | 10.45% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R6 | BOND STREET CUSTODIANS LIMITED<br> ACF MACQUARIE ASSET MANAGEMENT<br> HOLDINGS P/L<br> MACQUARIE BANK C/O INTERNATIONAL<br> OPERATION SHELLEY STREET NO 1<br> SYDNEY NSW 2000 AUSTRALIA | 11.52% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> CLASS R6 | LINCOLN RETIREMENT SERVICES COMPANY<br> FBO MMH INC RETIREMENT PLAN<br> PO BOX 7876<br> FORT WAYNE IN 46801-7876 | 76.44% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> INSTITUTIONAL CLASS | CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105 | 31.68% |
| NOMURA GLOBAL LISTED REAL ASSETS FUND<br> INSTITUTIONAL CLASS | LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN LINDSAY OTOOLE<br> 4707 EXECUTIVE DRIVE<br> SAN DIEGO CA 92121 | 53.87% |

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#### Ivy Funds
Nomura Asset Strategy Fund (formerly, Macquarie Asset Strategy Fund)

Nomura Balanced Fund (formerly, Macquarie Balanced Fund)

Nomura Systematic Emerging Markets Equity Fund (formerly, Macquarie Systematic Emerging Markets Equity Fund)

#### Ivy Variable Insurance Portfolios
Nomura VIP Asset Strategy Series (formerly, Macquarie VIP Asset Strategy Series)

Nomura VIP Balanced Series (formerly, Macquarie VIP Balanced Series)

#### Delaware VIP Trust
Nomura VIP Growth and Income Series (formerly, Macquarie VIP Growth and Income Series)

Nomura VIP Total Return Series (formerly, Macquarie VIP Total Return Series)

#### Delaware Group<sup>®</sup> Equity Funds IV
Nomura Growth and Income Fund (formerly, Macquarie Growth and Income Fund)

#### Delaware Group<sup>®</sup> Equity Funds V
Nomura Wealth Builder Fund (formerly, Macquarie Wealth Builder Fund)

#### Delaware Pooled Trust
Nomura Global Listed Real Assets Fund (formerly, Macquarie Global Listed Real Assets Fund)

#### 100 Independence<br> 610 Market Street<br> Philadelphia, PA 19106-2354

#### NOTICE OF INTERNET AVAILABILITY<br> OF INFORMATION STATEMENT

This communication presents only an overview of the more complete Joint Information Statement that is available to you on the Internet or by mail relating to Nomura Asset Strategy Fund, Nomura Balanced Fund, Nomura Systematic Emerging Markets Equity Fund, Nomura VIP Balanced Series, Nomura VIP Asset Strategy Series, Nomura VIP Growth and Income Series, Nomura VIP Total Return Series, Nomura Growth and Income Fund, Nomura Wealth Builder Fund, and Nomura Global Listed Real Assets Fund (each a "Fund" and together, the "Funds"), each series of the trusts listed above (each a "Trust" and together, the "Trusts"). We encourage you to access and review all of the important information contained in the Joint Information Statement, available online at nomuraassetmanagement.com/literature (with respect to the retail Funds) and nomuraassetmanagement.com/vip-literature (with respect to the variable insurance Funds).

The Joint Information Statement details the approval of a new sub-advisory agreement (the "Sub-Advisory Agreement") with Macquarie Investment Management Global Limited ("MIMGL"). MIMGL began serving as a sub-advisor for the Funds under the Sub-Advisory Agreement effective on December 1, 2025. The Sub-Advisory Agreement became necessary due to Nomura's acquisition (the "Transaction") of the U.S. and European public asset management business of Macquarie Group Ltd. ("Macquarie"), which included Delaware Management Company ("Manager"), a series of Nomura Investment Management Business Trust. Under the Investment Company Act of 1940, the closing of the Transaction resulted in the automatic termination of the Manager's then existing advisory agreements and MIMGL's then existing sub-advisory agreements with Nomura Growth and Income Fund, Nomura Wealth Builder Fund, Nomura Global Listed Real Assets Fund, Nomura VIP Growth and Income Series, Nomura VIP Total Return Series, Nomura Asset Strategy Fund, and Nomura Systematic Emerging Markets Equity Fund. For Nomura Balanced Fund, Nomura VIP Asset Strategy Series, and Nomura VIP Balanced Series, MIMGL is a new sub-advisor. A more detailed description of MIMGL and its investment operations,

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information about the Sub-Advisory Agreement, and the reasons the Board of Trustees (the "Board") of the Trusts approved MIMGL as a sub-advisor, are included in the Joint Information Statement.

The Manager is the investment manager to each series of the Trusts, including the Funds. The Manager employs a "manager of managers" arrangement in managing the assets of the Trusts. In connection therewith, the Trusts and the Manager have received an exemptive order from the U.S. Securities and Exchange Commission (the "SEC Order"), which permits the Manager, with the approval of the Board, to hire, terminate, or replace sub-advisors who are affiliated or unaffiliated with the Trusts or the Manager, and to enter into and modify material terms and conditions of the related sub-advisory agreements without shareholder approval.

Pursuant to the SEC Order, this Notice of Internet Availability of Information Statement is being mailed beginning on or about December 8, 2025 to shareholders of record of the Funds as of December 3, 2025. The Joint Information Statement is being made available on the Funds' websites at nomuraassetmanagement.com/literature (with respect to the retail Funds) and nomuraassetmanagement.com/vip-literature (with respect to the variable insurance Funds) on or about December 8, 2025 until at least May 8, 2026. A paper or e-mail copy of the Joint Information Statement may be obtained, without charge, by contacting your financial intermediary, your insurance company, or calling 800 523-1918.

#### WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY.

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