The combination of our experienced, dedicated team and consistent process have led to strong long-term results.
Navigating the municipal bond market requires more than a view on rates. The tenured muni team at Nomura Asset Management brings a research-driven approach to identifying relative value, helping investors uncover opportunities, and pursuing tax-efficient income through an ever-changing market.
03/12/2026
Nomura Minnesota High-Yield Municipal Bond Fund* has spent three-, and five-year periods in the Minnesota Municipal Debt Funds category.
03/12/2026
Nomura Tax-Free Pennsylvania Fund** has been recognized in three- and five-year periods in the Pennsylvania Municipal Debt Funds category.
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*Formerly, Macquarie Minnesota High-Yield Municipal Bond Fund
**Formerly, Macquarie Tax-Free Pennsylvania Fund
The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, their accuracy is not guaranteed by LSEG Lipper.
The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by LSEG Lipper.
Past performance is not a guarantee of future results. Fee waivers were in place for all or some of the periods listed. Without such waivers, performance would have been lower and Lipper rankings may have been lower.
Experience matters in a market as nuanced as municipals. Meet the investment professionals putting their expertise to work.
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAMI” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” or “NAM” include information about both NAMI and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
This information is a general description of Nomura Asset Management only. The views expressed on this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be {{{realized}}} or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
A summary of investor rights (in English) is accessible here.
Additional important information (including regional disclosures)
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAMI” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” or “NAM” include information about both NAMI and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
This information is a general description of Nomura Asset Management only. The views expressed on this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realised or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
This is a marketing communication. The prospectus, key information document (PRIIPs KID), key investor information document (UCITS KIID) – as appropriate for your relevant jurisdiction – and other fund related materials are available in English and, for the PRIIPs KID, in the official language of the countries in which the fund is available for distribution.
A summary of investor rights in English and information on collective redress mechanisms are available at:
Nomura Funds Ireland: https://www.nomura-asset.co.uk/download/funds/how-to-invest/Summary_of_investor_rights.pdf
Nomura Fund Solutions: https://mim.fgsfulfillment.com/download.aspx?sku=SUM-INV-RIGHTS
Nomura Asset Management U.K. Limited and the Management Company may at any time decide to terminate arrangements made for the marketing of units of a fund in a member state other than its home member state.
Additional important information (including regional disclosures)
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAMI” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” or “NAM” include information about both NAMI and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
This information is a general description of Nomura Asset Management only. The views expressed on this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realised or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
This is a marketing communication. Please refer to the Prospectus and the KIIDs when making any final investment decision.
A summary of investor rights (in English) is accessible here.
Additional important information (including regional disclosures)
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAMI” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” or “NAM” include information about both NAMI and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
This information is a general description of Nomura Asset Management only. The views expressed on this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realised or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
This is a marketing communication. The prospectus, key information document (PRIIPs KID), key investor information document (UCITS KIID) – as appropriate for your relevant jurisdiction – and other fund related materials are available in English and, for the PRIIPs KID, in the official language of the countries in which the fund is available for distribution.
A summary of investor rights in English and information on collective redress mechanisms are available at:
Nomura Funds Ireland: https://www.nomura-asset.co.uk/download/funds/how-to-invest/Summary_of_investor_rights.pdf
Nomura Fund Solutions: https://mim.fgsfulfillment.com/download.aspx?sku=SUM-INV-RIGHTS
Nomura Asset Management U.K. Limited and the Management Company may at any time decide to terminate arrangements made for the marketing of units of a fund in a member state other than its home member state.
Additional important information (including regional disclosures)
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAMI” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” or “NAM” include information about both NAMI and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
This information is a general description of Nomura Asset Management only. The views expressed on this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realised or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
This is a marketing communication. Please refer to the Prospectus and the KIIDs when making any final investment decision.
A summary of investor rights (in English) is accessible here.
Additional important information (including regional disclosures)
Nothing presented should be construed as a recommendation to purchase or sell any security or follow any investment technique or strategy.
You can check the background of your investment professional on FINRA's BrokerCheck.
Form ADV – Nomura Investment Management Business Trust
Part 1A | Part 2A | Part 2B brochure supplement | ADV part 3 – Form CRS
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAMI” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” or “NAM” include information about both NAMI and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
This information is a general description of Nomura Asset Management only. The views expressed on this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realized or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
Nomura Asset Management, unless otherwise stated, refers to the Nomura Asset Management International business. Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients. Nomura Asset Management primarily operates through several distinct investment managers, which includes Nomura Investment Management Business Trust (NIMBT), a Securities and Exchange Commission (SEC) registered investment adviser. Investment advisory services are provided to the Nomura Funds by Delaware Management Company, a series of NIMBT. The Nomura Funds mutual funds are distributed by Delaware Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) and an affiliate of NIMBT.
Form ADV – Nomura Investment Management Business Trust
Part 1A | Part 2A | Part 2B brochure supplement | ADV part 3 – Form CRS
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
For recipients in the United States, Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients.
“Nomura Asset Management International” or “NAM International” refers to the global (ex-Japan) investment management business of Nomura. Statements regarding “Nomura Asset Management” include information about both NAM International and other affiliated investment managers. Additional information regarding Nomura Asset Management’s global investment management business is available here.
Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realized or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
A summary of investor rights (in English) is accessible here.
Additional important information (including regional disclosures)