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Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>80</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.79<span>%</span></td> </tr> </table> 80 0.0079 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Corporate Bond Fund (Class A) returned 1.81% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg US Corporate Bond Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 2.53%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB‑rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and non-cyclicals.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in capital goods and real estate investment trusts (REITs).</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273164.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class A) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-2.77</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.94</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.64</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class A) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.81</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.02</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.11</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Corporate Bond Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Corporate Bond Fund (Class A) – including sales charge -0.0277 -0.0194 0.0164 Nomura Corporate Bond Fund (Class A) – excluding sales charge 0.0181 -0.0102 0.0211 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg US Corporate Bond Index 0.0253 -0.0027 0.0227 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>893,588,559</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">288</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,669,096</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">219<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 893588559 288 3669096 2.19 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">22.39<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.43<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Finance Companies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> <div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.2239 0.1043 0.0819 0.0815 0.0742 0.0710 0.0541 0.0521 0.0478 0.0469 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Corporate Bond Fund(formerly, Macquarie Corporate Bond Fund) Class C DGCCX This annual shareholder report contains important information about Nomura Corporate Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class C</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>155</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.54<span>%</span></td> </tr> </table> 155 0.0154 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Corporate Bond Fund (Class C) returned 1.05% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg US Corporate Bond Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 2.53%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB‑rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and non-cyclicals.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in capital goods and real estate investment trusts (REITs).</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273205.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class C) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.08</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.75</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.36</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class C) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.75</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.36</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Corporate Bond Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Corporate Bond Fund (Class C) – including sales charge 0.0008 -0.0175 0.0136 Nomura Corporate Bond Fund (Class C) – excluding sales charge 0.0105 -0.0175 0.0136 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg US Corporate Bond Index 0.0253 -0.0027 0.0227 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>893,588,559</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">288</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,669,096</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">219<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 893588559 288 3669096 2.19 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">22.39<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.43<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Finance Companies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table><div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.2239 0.1043 0.0819 0.0815 0.0742 0.0710 0.0541 0.0521 0.0478 0.0469 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Corporate Bond Fund(formerly, Macquarie Corporate Bond Fund) Class R DGCRX This annual shareholder report contains important information about Nomura Corporate Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div><div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>105</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.04<span>%</span></td> </tr> </table> 105 0.0104 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Corporate Bond Fund (Class R) returned 1.56% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg US Corporate Bond Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 2.53%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB‑rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and non-cyclicals.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in capital goods and real estate investment trusts (REITs).</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273246.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class R) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.56</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.87</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class R) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.56</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.87</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Corporate Bond Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Corporate Bond Fund (Class R) – including sales charge 0.0156 -0.0128 0.0187 Nomura Corporate Bond Fund (Class R) – excluding sales charge 0.0156 -0.0128 0.0187 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg US Corporate Bond Index 0.0253 -0.0027 0.0227 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>893,588,559</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">288</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,669,096</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">219<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 893588559 288 3669096 2.19 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">22.39<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.43<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Finance Companies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> <div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.2239 0.1043 0.0819 0.0815 0.0742 0.0710 0.0541 0.0521 0.0478 0.0469 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Corporate Bond Fund(formerly, Macquarie Corporate Bond Fund) Institutional Class DGCIX This annual shareholder report contains important information about Nomura Corporate Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>55</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.54<span>%</span></td> </tr> </table> 55 0.0054 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Corporate Bond Fund (Institutional Class) returned 2.07% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg US Corporate Bond Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 2.53%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB‑rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and non-cyclicals.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in capital goods and real estate investment trusts (REITs).</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273328.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Institutional Class) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.07</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.78</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.36</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Institutional Class) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.07</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.78</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.36</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Corporate Bond Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Corporate Bond Fund (Institutional Class) – including sales charge 0.0207 -0.0078 0.0236 Nomura Corporate Bond Fund (Institutional Class) – excluding sales charge 0.0207 -0.0078 0.0236 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg US Corporate Bond Index 0.0253 -0.0027 0.0227 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>893,588,559</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">288</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,669,096</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">219<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 893588559 288 3669096 2.19 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">22.39<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.43<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Finance Companies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table><div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.2239 0.1043 0.0819 0.0815 0.0742 0.0710 0.0541 0.0521 0.0478 0.0469 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Corporate Bond Fund(formerly, Macquarie Corporate Bond Fund) Class R6 DGCZX This annual shareholder report contains important information about Nomura Corporate Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>46</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.46<span>%</span></td> </tr> </table> 46 0.0046 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Corporate Bond Fund (Class R6) returned 2.16% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg US Corporate Bond Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 2.53%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB‑rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and non-cyclicals.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in capital goods and real estate investment trusts (REITs).</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years (or period) of the Class for the life of the Class. It also assumes a $10,000 initial investment at the Class's inception date in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period January 31, 2019 (Class R6's inception), through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273287.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>Since inception</strong><strong><br/>(1/31/19)</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class R6) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.70</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.75</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Corporate Bond Fund (Class R6) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.70</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.75</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.62</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Corporate Bond Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.62</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 2019-01-31 Nomura Corporate Bond Fund (Class R6) – including sales charge 0.0216 -0.0070 0.0275 Nomura Corporate Bond Fund (Class R6) – excluding sales charge 0.0216 -0.0070 0.0275 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0162 Bloomberg US Corporate Bond Index 0.0253 -0.0027 0.0262 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>893,588,559</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">288</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,669,096</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">219<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 893588559 288 3669096 2.19 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">22.39<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.43<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Finance Companies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">7.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> <div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.2239 0.1043 0.0819 0.0815 0.0742 0.0710 0.0541 0.0521 0.0478 0.0469 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund introduced a revised fee waiver for Class R6 shares of 0.46% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund introduced a revised fee waiver for Class R6 shares of 0.46% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Extended Duration Bond Fund(formerly, Macquarie Extended Duration Bond Fund) Class A DEEAX This annual shareholder report contains important information about Nomura Extended Duration Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>81</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.81<span>%</span></td> </tr> </table> 81 0.0081 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Extended Duration Bond Fund (Class A) returned 0.19% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg Long US Corporate Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 0.74%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB-rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and communications.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in consumer electric and insurance.</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273369.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class A) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-4.34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-5.12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class A) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.19</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-4.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.89</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg Long US Corporate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.51</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Extended Duration Bond Fund (Class A) – including sales charge -0.0434 -0.0512 0.0043 Nomura Extended Duration Bond Fund (Class A) – excluding sales charge 0.0019 -0.0423 0.0089 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg Long US Corporate Index 0.0074 -0.0351 0.0148 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>242,907,254</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">174</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>921,694</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">124<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 242907254 174 921694 1.24 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.93<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.57<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.60<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.06<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">6.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">3.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Natural Gas</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> <div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.1393 0.1357 0.1220 0.1145 0.1060 0.0806 0.0631 0.0571 0.0390 0.0289 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Extended Duration Bond Fund(formerly, Macquarie Extended Duration Bond Fund) Class C DEECX This annual shareholder report contains important information about Nomura Extended Duration Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class C</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>156</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.56<span>%</span></td> </tr> </table> 156 0.0156 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Extended Duration Bond Fund (Class C) returned -0.57% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg Long US Corporate Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 0.74%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB-rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and communications.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in consumer electric and insurance.</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273410.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class C) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-1.52</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-4.95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.15</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class C) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.57</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-4.95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.15</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg Long US Corporate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.51</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Extended Duration Bond Fund (Class C) – including sales charge -0.0152 -0.0495 0.0015 Nomura Extended Duration Bond Fund (Class C) – excluding sales charge -0.0057 -0.0495 0.0015 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg Long US Corporate Index 0.0074 -0.0351 0.0148 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>242,907,254</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">174</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>921,694</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">124<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 242907254 174 921694 1.24 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.93<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.57<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.60<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.06<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">6.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">3.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Natural Gas</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> <div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.1393 0.1357 0.1220 0.1145 0.1060 0.0806 0.0631 0.0571 0.0390 0.0289 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Extended Duration Bond Fund(formerly, Macquarie Extended Duration Bond Fund) Class R DEERX This annual shareholder report contains important information about Nomura Extended Duration Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div><div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>106</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.06<span>%</span></td> </tr> </table> 106 0.0106 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Extended Duration Bond Fund (Class R) returned -0.05% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg Long US Corporate Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 0.74%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB-rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and communications.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in consumer electric and insurance.</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273451.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class R) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-4.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.65</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class R) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-4.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.65</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg Long US Corporate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.51</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Extended Duration Bond Fund (Class R) – including sales charge -0.0005 -0.0448 0.0065 Nomura Extended Duration Bond Fund (Class R) – excluding sales charge -0.0005 -0.0448 0.0065 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg Long US Corporate Index 0.0074 -0.0351 0.0148 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>242,907,254</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">174</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>921,694</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">124<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 242907254 174 921694 1.24 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.93<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.57<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.60<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.06<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">6.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">3.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Natural Gas</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table><div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.1393 0.1357 0.1220 0.1145 0.1060 0.0806 0.0631 0.0571 0.0390 0.0289 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Extended Duration Bond Fund(formerly, Macquarie Extended Duration Bond Fund) Institutional Class DEEIX This annual shareholder report contains important information about Nomura Extended Duration Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div><div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>56</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.56<span>%</span></td> </tr> </table> 56 0.0056 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Extended Duration Bond Fund (Institutional Class) returned 0.50% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg Long US Corporate Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 0.74%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB-rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and communications.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in consumer electric and insurance.</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273533.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Institutional Class) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.50</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.99</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Institutional Class) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.50</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.99</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg Long US Corporate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.51</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Extended Duration Bond Fund (Institutional Class) – including sales charge 0.0050 -0.0399 0.0116 Nomura Extended Duration Bond Fund (Institutional Class) – excluding sales charge 0.0050 -0.0399 0.0116 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg Long US Corporate Index 0.0074 -0.0351 0.0148 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>242,907,254</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">174</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>921,694</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">124<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 242907254 174 921694 1.24 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.93<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.57<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.60<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.06<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">6.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">3.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Natural Gas</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table><div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.1393 0.1357 0.1220 0.1145 0.1060 0.0806 0.0631 0.0571 0.0390 0.0289 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Extended Duration Bond Fund(formerly, Macquarie Extended Duration Bond Fund) Class R6 DEZRX This annual shareholder report contains important information about Nomura Extended Duration Bond Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>47</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.47<span>%</span></td> </tr> </table> 47 0.0047 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Extended Duration Bond Fund (Class R6) returned 0.59% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Bloomberg Long US Corporate Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 0.74%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An overweight investment allocation compared to the Fund’s benchmark to lower-quality corporate debt, such as BBB‑rated (investment grade) and BB-rated (high yield) bonds, which outperformed higher-quality investments over the Fund's fiscal year due to the continued positive risk sentiment that persisted for most of the fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in banking and communications.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Investments in consumer electric and insurance.</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273492.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class R6) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.59</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.88</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.24</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Extended Duration Bond Fund (Class R6) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.59</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.88</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.24</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg Long US Corporate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">0.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-3.51</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Extended Duration Bond Fund (Class R6) – including sales charge 0.0059 -0.0388 0.0124 Nomura Extended Duration Bond Fund (Class R6) – excluding sales charge 0.0059 -0.0388 0.0124 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Bloomberg Long US Corporate Index 0.0074 -0.0351 0.0148 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>242,907,254</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">174</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>921,694</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">124<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 242907254 174 921694 1.24 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation*</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Electric</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.93<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Non-Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">13.57<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communications</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Banking</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.60<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Capital Goods</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.06<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">6.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Cyclical</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">3.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Natural Gas</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table><div style="margin-top: 0px; font-family: 'arial'; font-weight: 400; color: rgb(0, 0, 0); line-height: 10pt; margin-bottom: 10pt; font-size: 10pt; font-style: normal;">*<span style="white-space: nowrap;"> </span> Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.</div> 0.1393 0.1357 0.1220 0.1145 0.1060 0.0806 0.0631 0.0571 0.0390 0.0289 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund introduced a revised fee waiver for Class R6 shares of 0.48% (excluding certain items, such as distribution and service (12b-1) fees).</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund introduced a revised fee waiver for Class R6 shares of 0.48% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Floating Rate Fund(formerly, Macquarie Floating Rate Fund) Class A DDFAX This annual shareholder report contains important information about Nomura Floating Rate Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.93<span>%</span></td> </tr> </table> 95 0.0093 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Floating Rate Fund (Class A) returned 4.90% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Morningstar LSTA US Leveraged Loan Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 4.28%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">The Fund’s positions in collateralized loan obligation debt securities and high yield bonds</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the software and services sector relative to the benchmark</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the energy sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An underweight allocation to the pharmaceuticals sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection within the telecommunication services and food and beverage sectors</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12272959.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class A) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.08</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.32</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.69</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class A) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.90</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.91</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.97</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.18</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Floating Rate Fund (Class A) – including sales charge 0.0208 0.0532 0.0469 Nomura Floating Rate Fund (Class A) – excluding sales charge 0.0490 0.0591 0.0497 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Morningstar LSTA US Leveraged Loan Index 0.0428 0.0618 0.0543 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>610,173,148</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">234</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,128,383</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">65<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 610173148 234 3128383 0.65 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Industrials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">17.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Financials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">16.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Materials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Healthcare</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Information Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">9.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communication Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.12<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Utilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> 0.1721 0.1648 0.1201 0.1145 0.1016 0.0903 0.0812 0.0520 0.0489 0.0026 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;"><span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. Delaware Management Company (DMC), the Fund's investment manager, will regularly consult with  MAMCA to determine how much of the Fund’s assets to allocate among the different types of securities in which the Fund may invest. As part of this process, MAMCA provides nondiscretionary recommendations to DMC with respect to the Fund’s investments and executes trades on behalf of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Floating Rate Fund(formerly, Macquarie Floating Rate Fund) Class C DDFCX This annual shareholder report contains important information about Nomura Floating Rate Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class C</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>171</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.68<span>%</span></td> </tr> </table> 171 0.0168 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Floating Rate Fund (Class C) returned 4.12% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Morningstar LSTA US Leveraged Loan Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 4.28%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">The Fund’s positions in collateralized loan obligation debt securities and high yield bonds</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the software and services sector relative to the benchmark</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the energy sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An underweight allocation to the pharmaceuticals sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection within the telecommunication services and food and beverage sectors</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273000.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class C) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">3.13</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.19</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class C) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.19</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.18</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Floating Rate Fund (Class C) – including sales charge 0.0313 0.0512 0.0419 Nomura Floating Rate Fund (Class C) – excluding sales charge 0.0412 0.0512 0.0419 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Morningstar LSTA US Leveraged Loan Index 0.0428 0.0618 0.0543 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>610,173,148</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">234</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,128,383</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">65<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 610173148 234 3128383 0.65 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Industrials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">17.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Financials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">16.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Materials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Healthcare</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Information Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">9.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communication Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.12<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Utilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> 0.1721 0.1648 0.1201 0.1145 0.1016 0.0903 0.0812 0.0520 0.0489 0.0026 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;"><span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. Delaware Management Company (DMC), the Fund's investment manager, will regularly consult with  MAMCA to determine how much of the Fund’s assets to allocate among the different types of securities in which the Fund may invest. As part of this process, MAMCA provides nondiscretionary recommendations to DMC with respect to the Fund’s investments and executes trades on behalf of the Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Floating Rate Fund(formerly, Macquarie Floating Rate Fund) Class R DDFFX This annual shareholder report contains important information about Nomura Floating Rate Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div><div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>121</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.18<span>%</span></td> </tr> </table> 121 0.0118 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Floating Rate Fund (Class R) returned 4.76% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Morningstar LSTA US Leveraged Loan Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 4.28%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">The Fund’s positions in collateralized loan obligation debt securities and high yield bonds</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the software and services sector relative to the benchmark</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the energy sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An underweight allocation to the pharmaceuticals sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection within the telecommunication services and food and beverage sectors</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273041.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class R) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.76</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.64</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class R) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.76</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.64</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.18</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Floating Rate Fund (Class R) – including sales charge 0.0476 0.0564 0.0471 Nomura Floating Rate Fund (Class R) – excluding sales charge 0.0476 0.0564 0.0471 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Morningstar LSTA US Leveraged Loan Index 0.0428 0.0618 0.0543 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>610,173,148</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">234</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,128,383</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">65<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 610173148 234 3128383 0.65 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Industrials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">17.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Financials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">16.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Materials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Healthcare</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Information Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">9.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communication Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.12<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Utilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> 0.1721 0.1648 0.1201 0.1145 0.1016 0.0903 0.0812 0.0520 0.0489 0.0026 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;"><span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. Delaware Management Company (DMC), the Fund's investment manager, will regularly consult with  MAMCA to determine how much of the Fund’s assets to allocate among the different types of securities in which the Fund may invest. As part of this process, MAMCA provides nondiscretionary recommendations to DMC with respect to the Fund’s investments and executes trades on behalf of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Floating Rate Fund(formerly, Macquarie Floating Rate Fund) Institutional Class DDFLX This annual shareholder report contains important information about Nomura Floating Rate Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>70</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.68<span>%</span></td> </tr> </table> 70 0.0068 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Floating Rate Fund (Institutional Class) returned 5.16% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Morningstar LSTA US Leveraged Loan Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 4.28%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">The Fund’s positions in collateralized loan obligation debt securities and high yield bonds</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the software and services sector relative to the benchmark</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the energy sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An underweight allocation to the pharmaceuticals sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection within the telecommunication services and food and beverage sectors</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period July 31, 2016, through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273082.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Institutional Class) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.17</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Institutional Class) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.17</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">1.35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.18</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Floating Rate Fund (Institutional Class) – including sales charge 0.0516 0.0617 0.0523 Nomura Floating Rate Fund (Institutional Class) – excluding sales charge 0.0516 0.0617 0.0523 Bloomberg US Aggregate Index 0.0271 -0.0040 0.0135 Morningstar LSTA US Leveraged Loan Index 0.0428 0.0618 0.0543 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>610,173,148</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">234</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,128,383</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">65<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 610173148 234 3128383 0.65 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Industrials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">17.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Financials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">16.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Materials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Healthcare</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Information Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">9.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communication Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.12<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Utilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> 0.1721 0.1648 0.1201 0.1145 0.1016 0.0903 0.0812 0.0520 0.0489 0.0026 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;"><span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. Delaware Management Company (DMC), the Fund's investment manager, will regularly consult with  MAMCA to determine how much of the Fund’s assets to allocate among the different types of securities in which the Fund may invest. As part of this process, MAMCA provides nondiscretionary recommendations to DMC with respect to the Fund’s investments and executes trades on behalf of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div><div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Nomura Floating Rate Fund(formerly, Macquarie Floating Rate Fund) Class R6 DDFZX This annual shareholder report contains important information about Nomura Floating Rate Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 1, 2025,</span> to July 31, 2026. annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature.</span> You can also request this information by contacting us at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">800 523-1918</span>, weekdays from <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">8:30am to 6:00pm ET.</span> nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; color: rgb(0, 0, 0); line-height: 100%; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; font-family: 'arial'; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>62</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; white-space: nowrap; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.60<span>%</span></td> </tr> </table> 62 0.0060 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Performance highlights</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">Nomura Floating Rate Fund (Class R6) returned 5.38% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">July 31, 2026.</span> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 2.71%, while the Morningstar LSTA US Leveraged Loan Index, the Fund's narrowly based securities market index<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>(benchmark), returned 4.28%.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top contributors to performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">The Fund’s positions in collateralized loan obligation debt securities and high yield bonds</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the software and services sector relative to the benchmark</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; margin-top: 15pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Top detractors from performance:</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection and an underweight allocation to the energy sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">An underweight allocation to the pharmaceuticals sector relative to the benchmark</div> <div style="margin-top: 0px; font-size: 10pt; font-weight: 400; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); margin-bottom: 0px; margin-left: 26pt;">Security selection within the telecommunication services and food and beverage sectors</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years (or period) of the Class for the life of the Class. It also assumes a $10,000 initial investment at the Class's inception date in a <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index and an additional narrowly based securities market index for the same period.</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; line-height: 100%; margin-bottom: 3pt; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-weight: bold;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">For the period August 31, 2021 (Class R6's inception), through July 31, 2026</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g311520chartimages_12273123.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 468pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>July 31, 2026</strong>)</td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>Since inception</strong><strong><br/>(8/31/21)</strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class R6) – including sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.38</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Nomura Floating Rate Fund (Class R6) – excluding sales charge</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">5.38</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Bloomberg US Aggregate Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">2.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">-0.37</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">4.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding: 6pt 0 3pt 0;">6.19</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 2021-08-31 Nomura Floating Rate Fund (Class R6) – including sales charge 0.0538 0.0629 Nomura Floating Rate Fund (Class R6) – excluding sales charge 0.0538 0.0629 Bloomberg US Aggregate Index 0.0271 -0.0037 Morningstar LSTA US Leveraged Loan Index 0.0428 0.0619 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of July 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>610,173,148</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">234</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total net advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>3,128,383</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-size: 10pt; line-height: 100%; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-size: 10pt; line-height: 100%; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 0 6pt 0;">65<span>%</span></td> </tr> </table> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-top: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: normal; text-align: left; vertical-align: super; font-size: 7pt; font-weight: normal; width: 1%; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: 400; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; line-height: normal; vertical-align: top; font-size: 7pt; padding: 0;"> <div style="margin-top: 0px; font-weight: 400; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 610173148 234 3128383 0.65 <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of July 31, 2026)</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 10pt; font-family: 'arial'; font-size: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; line-height: 100%; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; color: rgb(0, 0, 0); font-weight: normal; text-transform: none; letter-spacing: normal; margin: 5pt 0px 5pt 0px;">Sector allocation</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Industrials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">17.21<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Financials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">16.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">12.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Materials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Healthcare</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">10.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Information Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">9.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Communication Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.12<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Utilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">4.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-size: 10pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: auto;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong></strong></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 400; color: rgb(0, 0, 0); line-height: 100%; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong></strong></td> </tr> </table> 0.1721 0.1648 0.1201 0.1145 0.1016 0.0903 0.0812 0.0520 0.0489 0.0026 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;"><span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. Delaware Management Company (DMC), the Fund's investment manager, will regularly consult with  MAMCA to determine how much of the Fund’s assets to allocate among the different types of securities in which the Fund may invest. As part of this process, MAMCA provides nondiscretionary recommendations to DMC with respect to the Fund’s investments and executes trades on behalf of the Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, Macquarie Investment Management Austria Kapitalanlage AG (which was renamed Nomura Investment Management Austria Kapitalanlage AG on December 6, 2025), Macquarie Investment Management Europe Limited, and Macquarie Investment Management Global Limited no longer serve as sub-advisors to the Fund.</div> 2025-12-01 <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">Effective December 1, 2025,</span> Macquarie Asset Management Credit Advisers US, LLC (MAMCA) was added as an unaffiliated sub-advisor to the Fund. <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by December 1, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="font-family: 'arial'; line-height: 100%; font-size: 12pt; font-weight: bold; color: rgb(0, 0, 0); margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-weight: 400; color: rgb(0, 0, 0); font-family: 'arial'; font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">May 20, 2026</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP (PwC) as the Fund’s independent registered public accounting firm. 2026-05-20 Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. Excludes cash and cash equivalents. Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.