Nomura Strategic Income Fund is a multisector credit strategy designed to deliver higher income with moderate credit risk. It diversifies across higher-yielding credit sectors, balanced with select investment-grade holdings for stability. This approach targets attractive income while reducing single-sector concentration, seeking to deliver high income with controlled overall risk.
Broader opportunity set
Draws on a wider opportunity set than traditional benchmarks, combining exposures to complement rather than concentrate risk
Integrated expertise
Dedicated sector specialists and multisector portfolio management bring their insights together into a coherent portfolio
Seeks repeatable alpha
Pursues appropriate compensation for each incremental risk taken, rather than relying on yield or spread alone
Fixed income markets can offer various sources of risk premia with differing efficiencies. Credit markets are asymmetric, potentially offering attractive long-term compensation that may require deep fundamental research to capture. More idiosyncratic markets tend to be less efficient, creating greater potential for excess return.
Disciplined research and positioning across the efficiency spectrum where the potential reward justifies the risk may allow for exploitation of these inefficiencies.
Establish strategic asset allocation through analysis of risk-return characteristics across fixed income sectors to determine baseline exposures consistent with investment objectives.
Cyclical tilts to risk and sector allocations, integrating top-down and bottom-up research to reflect current market conditions.
Security selection aims to elevate highest-conviction ideas, optimized within defined portfolio parameters. Client objectives and a risk-management overlay guide each step through to portfolio construction.
Bloomberg US Aggregate Index (view definition)
Morningstar Multisector Bond Category
Lipper Multi-Sector Income Funds Average
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.
Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor (as applicable) for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.
Returns for less than one year are not annualized.
Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.
Performance at NAV assumes that no front-end sales charge applied or the investment was not redeemed. Performance at offer assumes that a front-end sales charge applied to the extent applicable.
Performance at NAV assumes that no contingent deferred sales charge applied or the investment was not redeemed. Performance at max offer price assumes that a contingent deferred sales charge applied to the extent applicable.
Class C shares redeemed within one year of purchase are subject to a 1.00% contingent deferred sales charge (CDSC). Class C shares are eligible to automatically convert to Class A shares with a lower 12b-1 fee approximately eight years after you buy Class C shares.
Class A shares have a maximum up-front sales charge of 4.50%.
Nomura Corporate Research and Asset Management Inc.
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Risk Disclosures
Effective June 1, 2026, the Fund will no longer be available for purchase by investors, except for:
Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting nomuraassetmanagement.com/literature or calling 800 523-1918 (for individual investors) or 877 693-3546 (for financial professionals). Investors should read the prospectus and the summary prospectus carefully before investing.
On May 20, 2026, the Board of Trustees of Delaware Group Government Funds approved the conversion of Nomura Strategic Income Fund to Nomura Strategic Income ETF, a newly created exchange-traded fund, through a shell fund reorganization (Reorganization). It is currently expected that the Reorganization will be completed on or about November 6, 2026. In addition, Effective June 12, 2026 , Nomura Corporate Research and Asset Management Inc. became a sub-advisor to the Fund. The Fund is closed to new investors as of June 1, 2026.
Investing involves risk, including the possible loss of principal.
International investing (particularly in emerging markets) may be adversely affected by political instability; changes in currency exchange rates; inefficient markets and higher transaction costs; foreign economic conditions; the imposition of economic or trade sanctions; or inadequate or different regulatory and accounting standards. Investing in emerging markets involves greater risk than investing in more developed foreign markets because, among other things, emerging markets may have less stable political and economic environments, information about issuers may be less available or of a lesser quality, and securities markets may be smaller, less liquid, and subject to greater price volatility.
Investments in derivatives may involve additional expenses and are subject to significant loss if they perform differently than anticipated. Derivatives are also subject to the risk that the counterparty may fail to perform its obligations.
Fixed income securities can lose value, including the possible loss of principal. Fixed income securities are subject to credit risk and interest rate risk. Credit risk is the risk that an issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall and decrease as interest rates rise. Fixed income securities with longer maturities or duration generally are more sensitive to interest rate changes.
High yield securities (“junk bonds”) are subject to reduced creditworthiness of issuers, increased risk of default, and a more limited and less liquid secondary market. High yield securities may also be subject to greater price volatility and risk of loss of income and principal than higher-rated securities.
Mortgage-backed securities (MBS) and asset-backed securities (ABS) are subject to credit risk and interest rate risk and may also be subject to prepayment risk and extension risk. In addition, MBS and ABS may decline in value, become more volatile, face difficulties in valuation, or experience reduced liquidity due to changes in interest rates or general economic conditions. Certain MBS, such as collateralized mortgage obligations, real estate mortgage investment conduits, and stripped MBS may be more susceptible to these risks than other MBS.
Forward foreign currency contracts may substantially change a fund’s exposure to currency exchange rates and could result in losses to a fund if currencies do not perform as expected.
High portfolio turnover rates may increase transaction costs and lower returns.
The principal on a fixed income security may be prepaid prior to maturity, which may require reinvestment at a lower interest rate.