Nomura Global Listed Real Assets Fund Q4 2025 Commentary

Core Viewpoint - Macquarie Asset Management (MAM) operates as an integrated asset manager across public and private markets, providing a wide range of investment capabilities [1] Group 1: Company Overview - MAM is part of Macquarie Group, which includes Macquarie Group Limited and its global subsidiaries and affiliates [1] - The asset management division offers diverse capabilities such as real assets, real estate, credit, equities, and multi-asset solutions [1] Group 2: Investment Solutions - Delaware Funds by Macquarie represents specific investment solutions distributed, offered, or advised by MAM [1] - Investment advisory services for the Delaware Funds are provided by Delaware Management Company, which is a registered investment adviser with the SEC [1] Group 3: Distribution and Compliance - Delaware Funds are distributed by Delaware Distributors, L.P., a registered broker/dealer and member of FINRA, affiliated with MIMBT [1] - The account is not managed or monitored by MAM, and communications via Seeking Alpha will not receive a response [1]