Delaware Management Company operates as part of Nomura Asset Management following the December 2025 acquisition of Macquarie Group's U.S. and European public asset management business. The management team brings extensive experience in large-cap growth investing with key personnel including Joseph Fath (managing since 2014), Peter Bourbeau (since 2017), and Margaret Vitrano (since 2017). The fund utilizes a proven dual sub-advisor model with American Century Investment Management and Los Angeles Capital Management LLC providing complementary investment approaches. Recent leadership additions include Tong Li as Portfolio Manager and Senior Quantitative Analyst since 2024, enhancing the quantitative capabilities. The management structure includes six team members with an average tenure of 2.9 years, providing stability while incorporating fresh perspectives. Delaware Management Company maintains SEC registration #212 and operates from its Wilmington, Delaware headquarters with comprehensive regulatory compliance. The team's experience spans multiple market cycles and various growth investing environments. Investment decision-making benefits from institutional resources and research capabilities of the broader Nomura organization. The management approach emphasizes disciplined risk management alongside growth opportunity identification.

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The fund seeks long-term growth of capital through disciplined investment in large market capitalization growth companies. Employing a dual sub-advisor structure, the fund combines fundamental bottom-up stock selection with quantitative modeling approaches. The strategy focuses on companies similar to those in the Russell 1000 Growth Index while maintaining flexibility to invest in foreign securities and derivatives. The investment approach emphasizes quality growth companies with strong competitive positions and sustainable business models. Risk management is integrated throughout the portfolio construction process with both sub-advisors contributing distinct analytical frameworks. The fund maintains concentrated positions in high-conviction opportunities while ensuring broad diversification across the large-cap growth universe. Active management seeks to add value through security selection and sector allocation decisions. The philosophy emphasizes long-term capital appreciation over income generation, reflected in minimal dividend yield. Portfolio turnover is managed to balance opportunity capture with transaction cost control.

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