Delaware Group Adviser Funds
07/31/2026 | Press release | Distributed by Public on 07/31/2026 14:30
Prospectus by Investment Company (Form 497)
NOMURA FUNDS
Supplement to the current Statement of Additional Information ("SAI")
for each Nomura Fund (each, a "Fund"), as may be amended
Trustee Changes
A.
Effective August 1, 2026, Mr. Brian A. Swain will be appointed to serve as a member of the board of trustees of each Fund.
Accordingly, effective August 1, 2026, the following changes are made to each Fund's SAI:
I.
The trustees and officers table in the section entitled "Management of the Trust - Trustees and officers" is deleted in its entirety and replaced with the following:
|
Name, Address,
and Birth Year |
Position(s) Held with the Trust
|
Length of Time
Served1 |
Number of
Funds in Fund Complex Overseen by Trustee |
Principal Occupation(s)
During the Past Five Years |
Other Directorships Held
by Trustee During the Past Five Years |
|
Interested Trustee
|
|||||
|
Shawn K. Lytle2
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1970
|
President, Chief Executive Officer, and Trustee
|
President and Chief Executive Officer since August 2015
Trustee since September 2015
|
80
|
Nomura Asset Management International3-Chief Executive Officer (2025-Present); Macquarie Asset Management4(2015-2025)-Head of Equities & Multi-Asset (2023-2025); Head of Americas of Macquarie Group (2017-2025); Global Head of Public Investments (2019-2023)
|
None
|
|
Independent Trustees
|
|||||
|
Jerome D. Abernathy
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1959
|
Trustee
|
Since January 2019
|
80
|
Stonebrook Capital Management, LLC (financial technology: macro factors and databases)-Managing Member (1993-Present)
|
Computers for People (2023-Present)
Hoboken Community Center (2026-Present)
|
|
Ann D. Borowiec
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1958
|
Trustee
|
Since March 2015
|
80
|
J.P. Morgan Chase & Co.
(1987-2013)-Chief Executive Officer, Private Wealth Management (2011-2013) |
Nomura ETF Trust (2026-present)
|
|
Joseph W. Chow
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1953
|
Trustee
|
Since January 2013
|
80
|
Private Investor (2011-Present); State Street Bank and
Trust Company (1996-2011)-Executive Vice President of Enterprise Risk Management and Emerging Economies Strategy; and Chief Risk and Corporate Administration Officer |
None
|
|
John A. Fry
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1960
|
Trustee
|
Since January 2001
|
80
|
Temple University-President
(2024-Present)
Drexel University-President
(2010-2024) |
Federal Reserve Bank of Philadelphia (2020-2025)
Kresge Foundation
(2018-Present)
FS Credit Real Estate
Income Trust, Inc. (2018-Present)
vTv Therapeutics Inc.
(2017-2024)
Community Health
Systems (2004-Present) |
|
Joseph Harroz, Jr.
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1967
|
Trustee
|
Since November 19985
|
80
|
University of Oklahoma-President (2020-Present); Interim President (2019-2020); Vice President and Dean, College of Law (2010-2019)
Brookhaven Investments LLC (commercial enterprises) - Managing Member (2019-Present)
St. Clair, LLC (commercial enterprises)-Managing Member (2019-Present)
|
OU Health, Inc.
(2020-Present)
Big 12 Athletic Conference (2019-July 2024)
Valliance Bank
(2007-Present)
Southeastern Athletic Conference
(July 2024-Present) |
|
Sandra A.J. Lawrence
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1957
|
Trustee
|
Since April 20195
|
80
|
Children's Mercy Hospitals and
Clinics (2005-2019)-Chief Administrative Officer (2016-2019) |
Brixmor Property Group
Inc. (2021-Present)
Sera Prognostics Inc.
(biotechnology) (2021-Present)
Recology (resource
recovery) (2021-2023)
Evergy, Inc., Kansas City
Power & Light Company, KCP&L Greater Missouri Operations Company, Westar Energy, Inc. and Kansas Gas and Electric Company (related utility companies) (2018-Present)
National Association of
Corporate Directors (2017-Present)
American Shared Hospital
Services (medical device) (2017-2021)
Hall (Hallmark) Family
Foundation & Chinquapin Trusts (1993-Present) |
|
Frances A.
Sevilla-Sacasa 100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1956
|
Trustee
|
Since September 2011
|
80
|
Banco Itaú International-Chief Executive Officer (2012-2016); US Trust, Bank of America Private Wealth Management-President (2007-2008); U.S. Trust Corp.-President & CEO (2005-2007)
|
Invitation Homes Inc.
(2023-Present)
Florida Chapter of National
Association of Corporate Directors (2021-Present)
Callon Petroleum
Company (2019-2024)
Camden Property Trust
(2011-Present)
New Senior Investment
Group Inc. (REIT) (2021) |
|
Brian A. Swain
100 Independence,
610 Market Street Philadelphia, PA 19106-2354
1969
|
Trustee
|
Since August 2026
|
80
|
Deputy Chief Investment Officer, Howard University (February 2018 - Present)
|
Director, Montgomery County, Maryland Employee Retirement Plan's Investment Trust (October 2021-Present)
Nomura ETF Trust (October 2023-Present)
|
|
Thomas K. Whitford
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1956
|
Chair and Trustee
|
Trustee since January 2013
Chair since January 2023
|
80
|
PNC Financial Services Group
(1983-2013)-Vice Chairman (2009-2013) |
HSBC USA Inc.
(2014-2022)
HSBC North America
Holdings Inc. (2013-2022) |
|
Christianna Wood
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1959
|
Trustee
|
Since January 2019
|
80
|
Gore Creek Capital, Ltd.-Chief
Executive Officer and President (2009-Present); Capital Z Asset Management-Chief Executive Officer (2008-2009); California Public Employees' Retirement System (CalPERS)-Senior Investment Officer of Global Equity (2002-2008) |
The Merger Fund
(2013-2021), The Merger Fund VL (2013-2021), WCM Alternatives: Event-Driven Fund (2013-2021), and WCM Alternatives: Credit Event Fund (2017-2021)
Grange Insurance
(2013-Present)
H&R Block Corporation
(2008-2022) |
|
Name, Address, and Birth Year
|
Position(s) Held with the Trust
|
Length of Time Served1
|
Principal Occupation(s) During
the Past Five Years |
|
Officers
|
|||
|
Aaron C. Buser
100 Independence 610 Market Street Philadelphia, PA 19106-2354
1970
|
Vice President, General Counsel, and Secretary
|
Vice President since August 2022;
General Counsel and Secretary since May 2025 |
Aaron C. Buser has served in various capacities at Nomura Asset Management since December 2025; previously, he served in various capacities at MAM since June 2022; prior to that, he served as Vice President and Assistant Secretary at SEI Investments Management Corporation and SEI Funds.
|
|
David F. Connor6
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1963
|
Senior Vice President and
Assistant Secretary |
Senior Vice President since
May 2013; Assistant Secretary since May 2025 |
David F. Connor has served in various capacities at Nomura Asset Management since December 2025; previously, he served in various capacities at different times at MAM.
|
|
Daniel V. Geatens6
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1972
|
Senior Vice President and Treasurer
|
Senior Vice President since
December 2020; Treasurer since October 2007 |
Daniel V. Geatens has served in various capacities at Nomura Asset Management since December 2025; previously, he served in various capacities at different times at MAM.
|
|
Richard Salus6
100 Independence, 610 Market Street Philadelphia, PA 19106-2354
1963
|
Senior Vice President and Chief
Financial Officer |
Senior Vice President and
Chief Financial Officer since November 2006 |
Richard Salus has served in various capacities at Nomura Asset Management since December 2025; previously, he served in various capacities at different times at MAM.
|
1 "Length of Time Served" refers to the time since the Trustee or officer began serving one or more of the Trusts in the Nomura Funds complex.
2 Shawn K. Lytle is considered to be an "Interested Trustee" because he is an executive officer of the Manager.
3 Nomura Asset Management is part of the Investment Management Division of the Nomura Group, including the Fund's Manager, principal underwriter, and transfer agent.
4 Macquarie Asset Management ("MAM") is the marketing name for certain companies comprising the asset management division of Macquarie Group.
5
Includes time served on the Board of the Ivy Funds complex prior to the date when the Ivy Funds joined the Nomura Funds complex.
6
David F. Connor and Daniel V. Geatens serve in similar capacities for the portfolios of Optimum Fund Trust, which have the same investment manager, principal underwriter, and transfer agent as the Fund. Mr. Connor also serves as Senior Vice President and Assistant Secretary for the portfolios of Nomura ETF Trust, which have the same investment manager as the Fund. Mr. Geatens also serves as the Chief Financial Officer of the Optimum Fund Trust and as Senior Vice President and Treasurer for Nomura ETF Trust. Mr. Salus serves in a similar capacity for Nomura ETF Trust.
II.
The following information is added to the table that shows each Trustee's ownership of Fund shares in the section entitled "Management of the Trust - Trustees and officers":
|
Name
|
Dollar Range of Equity
Securities in the Funds |
Aggregate Dollar Range of
Equity Securities in All Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|
Brian A. Swain**
|
None
|
None
|
** Appointment effective August 1, 2026.
III.
The following information is added to the table that describes the compensation paid to each Trustee in the section entitled "Management of the Trust - Trustees and officers":
|
Trustee
|
Aggregate
Compensation from the Funds |
Pension or Retirement
Benefits Accrued as Part of Fund Expenses |
Total Compensation
from the Investment Companies in the Nomura Funds Complex1 |
|
Brain A. Swain2
|
None
|
None
|
None
|
1 Each Independent Trustee receives an annual retainer fee for serving as a Trustee for the investment companies in the Nomura Funds family of funds (80 funds in the complex) for which they serve, plus certain meeting fees. The committee chairs and Board Chair also receive retainers for serving as committee chair or serving as Board Chair, respectively. An Independent Trustee may receive additional fees based on determination by the Board Chair and the Nominating and Corporate Governance Committee.
2 Appointment effective as of August 1, 2026.
IV.
The following is added to the section entitled "Management of the Trust - Qualifications of the Trustees":
Brian A. Swain - Mr. Swain has extensive experience in the investment management industry. Mr. Swain joined Howard University in February 2018 and is currently the Deputy Chief Investment Officer for Howard University's investment office responsible for the management of the Endowment and Retirement Trust. He is also currently an appointed board member of Montgomery County Employee Retirement
Plan's Investment Trust in Maryland and has served since October 2021. Prior to joining Howard University, Mr. Swain worked for 28 years in various roles including Senior Managing Director and portfolio manager of Tiburon Capital Management LLC, co-founder and Chief Investment Officer for Quattro Global Capital LLC, analyst, head of research and portfolio manager for the Palladin Group LLC, and received credit and analytical training at Penn Mutual Life Insurance Company. Mr. Swain received a Bachelor of Science, Finance in 1990 from The Pennsylvania State University, is a chartered financial analyst (CFA), member of the CFA Institute and CFA Washington.
V.
The following is added immediately before to the section entitled "Management of the Trust - Compliance Committee":
ETF Committee: This committee is responsible for assisting the Board with the oversight, monitoring, and evaluation of the exchange-traded funds within the Nomura Funds complex managed by Nomura Asset Management International and the Manager. The committee currently consists of the following Independent Trustees: Brian A. Swain, Chair; Ann D. Borowiec; Jerome D. Abernathy; and Frances A. Sevilla-Sacasa. The ETF Committee did not meet during the Funds' last fiscal year.
B.
Effective June 30, 2026, Mr. H. Jeffrey Dobbs resigned as a member of the board of trustees of each Fund. All references in a Fund's SAI to Mr. Dobbs are hereby removed.
Because everyone's tax situation is unique, you should consult your tax professional about federal, state, local, or foreign tax consequences before making an investment in a fund or acting on a distribution check (if applicable).
Please keep this Supplement for future reference.
This Supplement is dated July 31, 2026.
Delaware Group Adviser Funds published this content on July 31, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 31, 2026 at 20:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]