Investment objective & strategy
As of March 27, 2026 · prospectusObjective. Nomura Small Cap Core Fund seeks long-term capital appreciation.
Strategy. The Fund invests primarily in stocks of small companies that its investment manager, Delaware Management Company (Manager), believes have a combination of attractive valuations, growth prospects, and strong cash flows. Under normal circumstances, at least 80% of the Funds net assets, plus the amount of any borrowings for investment purposes, will be in investments of small-capitalization companies (80% policy). The Fund considers small-capitalization companies to be companies within the market capitalization range of the Russell 2000 Index at the time of purchase. The Funds 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days notice prior to any such change. The Fund invests primarily in stocks of small companies that its investment manager, Delaware Management Company (Manager), believes have a combination of attractive valuations, growth prospects, and strong cash flows. Under normal circumstances, at least 80% of the Funds net assets, plus the amount of any borrowings for investment purposes, will be in investments of small-capitalization companies (80% policy). The Fund considers small-capitalization companies to be companies within the market capitalization range of the Russell 2000 Index at the time of purchase. The Funds 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days notice prior to any such change.
Top holdings
As of Feb. 27, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SEMTECH CORP | — | $137.44M | 2.40% |
| MODINE MFG CO | — | $107.82M | 1.89% |
| SILICON LABS | — | $99.93M | 1.75% |
| CONSTRUCTION PARTNERS INC CL A | — | $97.60M | 1.71% |
| FED SIGNAL CORP | — | $94.71M | 1.66% |
| ESCO TECHNOLOGIES INC | — | $88.18M | 1.54% |
| IMAX Corporation COM NPV | IMAX US | $84.15M | 1.47% |
| SUPERNUS PHARMACEUTICALS INC | — | $83.34M | 1.46% |
| LIGAND PHARMACEUTICALS | — | $80.75M | 1.41% |
| BRIDGEBIO PHARMA INC | — | $79.73M | 1.39% |
Portfolio moves
Nov 28, 2025 → Feb 27, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Nomura Smid Cap Core Fund · IYSYX, IYSAX, IYSCX, IVVIX, IYSMX, ISPVX | 36% | 0.77% |
| Nomura VIP Smid Cap Core Series | 36% | 1.18% |
| Nomura VIP Opportunity Series | 36% | 0.83% |
Advisers
| Firm | Role |
|---|---|
| Macquarie Investment Management Business Trust | Adviser |
| Macquarie Investment Management Global Limited | Sub-adviser |
Footnotes
- Expense ratio as of March 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of February 27, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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