Key features
Daily pricing
as of
07/16/2026
NAV 1-day net change
No Change
Total net assets
as of
//
All share classes
NaN million
Overview
| Fund identifiers |
| NASDAQ |
DUGIX |
| CUSIP |
246094502 |
Benchmark and peer group
Portfolio
Top 10 fixed income holdings as of 06/30/2026
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
BEACH ACQUISITION BIDCO LLC
1.21
ONEMAIN FINANCE CORP
1.21
CAS 2026-R01 2M2 MTGE
1.21
SABLE INTERNATIONAL FINANCE LTD
1.00
Total % Portfolio in Top 10 holdings - 12.97%
Fixed income sectors
as of 06/30/2026
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
High yield corporates
50.4%
Asset-backed securities/CLO
22.3%
Investment grade corporates
6.2%
Commercial mortgage-backed securities
2.7%
Credit quality as of 06/30/2026
Total may not equal 100% due to rounding. The Fund’s investment manager, Delaware Management Company (DMC) receives “Credit Quality” ratings for the underlying securities held by the Fund from three “nationally recognized statistical rating organizations” (NRSROs) — Standard & Poor’s (S&P), Moody’s Investors Service, and Fitch, Inc. The credit quality breakdown is calculated by DMC based on the NSRO ratings and the index credit quality rules. For securities rated by an NRSRO other than S&P, that rating is converted to the equivalent S&P credit rating. Securities that are unrated by any of the three NRSROs are included in the “not rated” category when applicable. Unrated securities do not necessarily indicate low quality. More information about securities ratings is contained in the Fund’s Statement of Additional Information.
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
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
Janaki Rao
Head of US Multisector
Janaki is Head of the US Multisector Team at Nomura Asset Management International, a role he assumed in May 2024 at Macquarie Asset Management. He joined Nomura Asset Management as part of Nomura’s acquisition of Macquarie Asset Management’s US and European public investments business in 2025. He has overall responsibility for US multisector capabilities, including the portfolios, the team, and client and business management.
Prior to Macquarie, Janaki was Director of US Multisector Fixed Income at AllianceBernstein from November 2019 to February 2023, responsible for managing multisector fixed income portfolios, including Treasury inflation-protected securities (TIPS) and agency mortgage-backed securities (MBS) portfolios. Before that, he was AllianceBernstein’s Head of Agency MBS from March 2013 to November 2019, and prior to that spent seven years at Morgan Stanley as Vice President of Agency MBS Research.
Janaki earned a Bachelor of Arts (Honors) in economics from the University of Delhi, a Master of Business Administration with an emphasis in marketing from Symbiosis Institute of Business Management, and a Master of Business Administration with an emphasis in finance from the Zicklin School of Business at Baruch College.
Mansur Rasul
Head of Emerging Markets Debt
Mansur is Head of Emerging Markets Debt at Nomura Asset Management International, a role he assumed in December 2025. He joined Nomura Asset Management as part of Nomura’s acquisition of Macquarie Asset Management’s US and European public investments business in 2025.
Previously, he was a Senior Portfolio Manager on the Emerging Markets Debt Team at Macquarie Asset Management since July 2016. Prior to his role managing emerging markets credit portfolios, he was responsible for emerging markets trading. Before joining Macquarie in 2012, he worked at ING Financial Markets, where he was responsible for emerging markets credit trading and structuring. Prior to that, he worked for Daiwa Capital Markets America as Director of the firm’s fixed income syndicate, responsible for the placement of all fixed income products to US-based accounts. He also worked with Merrill Lynch as an associate responsible for Asian credit trading and worked at Delaware Investments as an Analyst.
Mansur earned a Bachelor of Science in economics with a minor in political science from Northwestern University.
Brendan Dillon
Senior Portfolio Manager
Brendan is a Senior Portfolio Manager for Fixed Income at Nomura Asset Management International, a role he assumed in November 2023 at Macquarie Asset Management. In this role, he is responsible for the management of the firm’s Convertible Bond strategies. He joined Nomura Asset Management as part of Nomura’s acquisition of Macquarie Asset Management’s US and European public investments business in 2025.
Previously, he was a Senior Credit Analyst with Macquarie Asset Management’s Private Placements Group, responsible for financial, chemical, paper/packaging, and automotive companies. Prior to Macquarie, Brendan spent 12 years at Aberdeen Investment Management in various roles, most recently as a Senior Portfolio Manager for the US and global high yield strategies, a role he held for eight years. Prior to Aberdeen, he worked as an Analyst/Trader on the Convertible Securities Team at Gartmore Global Investments. He began his career as an Analyst with the Mergers and Acquisitions Group of Wachovia Securities.
He earned a Bachelor of Business Administration from Bucknell University.
Sub-advisor
Nomura Corporate Research and Asset Management Inc.
David Crall
-
President, Chief Executive Officer, Chief Investment Officer, and a Managing Director with NCRAM
-
Read bio
David Crall
President, Chief Executive Officer, Chief Investment Officer, and a Managing Director with NCRAM
David Crall, CFA, is the President, Chief Executive Officer (CEO), Chief Investment Officer (CIO), and a Managing
Director with Nomura Corporate Research and Asset Management Inc. (NCRAM). He is also a member of NCRAM’s Board of
Directors. Mr. Crall became President and CEO of NCRAM in June 2019, and in this capacity he is responsible for the
firm’s overall management and business strategy. In addition, as CIO since January 2010, he leads the investment
activities and investment team of NCRAM. He is the Chair of NCRAM’s Management Oversight, Investment, New Product,
Risk Monitoring, and ESG Committees. Previously, he was a portfolio manager and co-head of the high yield bond team
at NCRAM, encompassing primarily high yield bonds but also public-side management of loans and distressed
investments, since 2000. Prior to that, he was a portfolio manager of various high yield accounts at NCRAM since
1997, and an analyst in the high yield group at NCRAM for various industries since 1992. Mr. Crall received his B.A.
in English from Yale University in 1992. He is a CFA® charterholder, a member of the CFA institute, and a member of
the New York Society of Security Analysts.
Stephen Kotsen
-
Managing Director and Portfolio Manager with NCRAM
-
Read bio
Stephen Kotsen
Managing Director and Portfolio Manager with NCRAM
Stephen Kotsen, CFA, is a Managing Director and Portfolio Manager with Nomura Corporate Research and Asset Management Inc. (NCRAM). He has been the lead portfolio manager for NCRAM’s flagship High Yield Total Return Strategy since 2000, including numerous separate accounts, mutual funds, UCITS funds, and other commingled vehicles. He joined NCRAM in 1998 and initially worked as a high yield credit analyst covering various sectors. Previously, he was a portfolio manager at Lazard Frères Asset Management, managing fixed income portfolios exceeding $2bn, and prior to that role, he served as a credit analyst at Lazard. Mr. Kotsen received his M.B.A. in Finance from Columbia Business School in 1995, and his B.A. in International Relations from Princeton University in 1991. Mr. Kotsen is a CFA® charterholder, a member of the CFA Institute, and a member of the New York Society of Security Analysts.
Amy Yu Chang
-
Managing Director and Portfolio Manager with NCRAM
-
Read bio
Amy Yu Chang
Managing Director and Portfolio Manager with NCRAM
Amy Yu Chang, CFA, is a Managing Director and Portfolio Manager with Nomura Corporate Research and Asset Management Inc. (NCRAM). She manages NCRAM's higher credit quality accounts, including the BB-B High Yield Strategy, and also assists in managing accounts in the full spectrum High Yield Total Return Strategy. She has been a high yield bond Portfolio Manager since 2007. Prior to that, she was an Assistant Portfolio Manager of various long-only high yield accounts at NCRAM since 2004, and an analyst in the high yield group at NCRAM for various industries including Retail, Apparel, Food, Restaurants, Technology, and Business Services since 1999. Ms. Yu Chang received her B.S. in Biology from Yale University in 1999. She is a CFA® charterholder, a member of the CFA Institute, and a member of the New York Society of Security Analysts.
Christopher Parham
-
Executive Director and Assistant Portfolio Manager with NCRAM
-
Read bio
Christopher Parham
Executive Director and Assistant Portfolio Manager with NCRAM
Christopher Parham, CFA, is an Executive Director and Assistant Portfolio Manager with Nomura Corporate Research and Asset Management Inc. (NCRAM). He became an Assistant Portfolio Manager of NCRAM’s high yield strategies in January of 2018, and has formally served as Assistant Portfolio Manager for a subset of NCRAM’s US high yield funds since June of 2025. Mr. Parham joined NCRAM in August 2007 as a Credit Analyst and currently covers the Banking & Financials industries, in addition to his assistant portfolio manager responsibilities. His previous coverage includes the Printing & Publishing and Broadcasting industries. Mr. Parham graduated cum laude from Harvard University with a B.A. in Government and a minor in Economics. He is a CFA® charterholder, a member of the CFA Institute, and a member of the New York Society of Security Analysts.
Fees
The table below describes the fees and expenses that you may pay if you buy, hold, and sell
shares of the Fund.
You may pay other fees, such as brokerage commissions and other fees
to financial intermediaries, which are not reflected in the table below. You may
qualify for sales-charge discounts if you and your family invest, or agree to invest in the
future, at least $100,000 in Nomura Funds. More information about these and other
discounts is available from your financial intermediary, in the Fund’s Prospectus under the
section entitled “About your account,” and in the Fund’s statement of additional information
(SAI) under the section entitled “Purchasing Shares.”
| 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 |
0.55% |
| Distribution and service (12b-1) fees |
none |
|
Other expenses1 |
0.28% |
| Total annual fund operating expenses |
0.83% |
| Fee waivers and expense
reimbursements2 |
(0.23%) |
| Total annual fund operating expenses after fee
waivers and expense reimbursements |
0.60% |
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 December 1, 2025 through November 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
Fact sheet and commentaries
Shareholder report – Annual
Shareholder report – Semi-annual