Delaware Group Income Funds发布2026财年年度报告

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

811-02071

Delaware Group^® Income Funds

(Exact name of registrant as specified in charter)

610 Market Street
Philadelphia, PA 19106

Registrant's telephone number, including area code:

(800) 523-1918

Date of fiscal year end:

July 31

Date of reporting period:

July 31, 2026

Item 1. Report to Stockholders.

(a) The registrant’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

Macquarie Logo

Nomura Corporate Bond Fund
(formerly, Macquarie Corporate Bond Fund)

Class A : DGCAX

Annual shareholder report | July 31, 2026

This annual shareholder report contains important information about Nomura Corporate Bond Fund (Fund) for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$80	0.79%

Management's discussion of Fund performance

Performance highlights

Nomura Corporate Bond Fund (Class A) returned 1.81% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 2.53%.

Top contributors to performance:

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.

Investments in banking and non-cyclicals.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in capital goods and real estate investment trusts (REITs).

Fund performance

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 broad-based 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.

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Corporate Bond Fund (Class A) – including sales charge	-2.77	%	-1.94	%	1.64	%
Nomura Corporate Bond Fund (Class A) – excluding sales charge	1.81	%	-1.02	%	2.11	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg US Corporate Bond Index	2.53	%	-0.27	%	2.27	%

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. Performance results reflect any expense caps in effect during these periods. All results shown assume reinvestment of distributions.

Fund statistics (as of July 31, 2026)

Fund net assets	$893,588,559
Total number of portfolio holdings*	288
Total net advisory fees paid (during reporting period)	$3,669,096
Portfolio turnover rate	219%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Banking	22.39%
Electric	10.43%
Energy	8.19%
Communications	8.15%
Finance Companies	7.42%
Consumer Non-Cyclical	7.10%
Technology	5.41%
Consumer Cyclical	5.21%
Capital Goods	4.78%
Insurance	4.69%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.

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.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

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 nomuraassetmanagement.com/literature or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.

Changes in and disagreements with accountants

During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On May 20, 2026, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen & 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 May 20, 2026.

Availability of additional information

You can access additional information about the Fund, such as the prospectus, financial information, holdings, and proxy voting information, at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET, or by contacting your financial intermediary.

Householding

In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports, and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain shareholders of the Fund. If you would like to receive individual mailings, please call 800 523-1918 or contact your financial intermediary. Your instructions will typically be effective within 30 days after we receive them from you or your financial intermediary. If you choose, you may receive these documents through electronic delivery.

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DGCAX-0926

Macquarie Logo

Nomura Corporate Bond Fund
(formerly, Macquarie Corporate Bond Fund)

Class C : DGCCX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$155	1.54%

Management's discussion of Fund performance

Performance highlights

Nomura Corporate Bond Fund (Class C) returned 1.05% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 2.53%.

Top contributors to performance:

Investments in banking and non-cyclicals.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in capital goods and real estate investment trusts (REITs).

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Corporate Bond Fund (Class C) – including sales charge	0.08	%	-1.75	%	1.36	%
Nomura Corporate Bond Fund (Class C) – excluding sales charge	1.05	%	-1.75	%	1.36	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg US Corporate Bond Index	2.53	%	-0.27	%	2.27	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$893,588,559
Total number of portfolio holdings*	288
Total net advisory fees paid (during reporting period)	$3,669,096
Portfolio turnover rate	219%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Banking	22.39%
Electric	10.43%
Energy	8.19%
Communications	8.15%
Finance Companies	7.42%
Consumer Non-Cyclical	7.10%
Technology	5.41%
Consumer Cyclical	5.21%
Capital Goods	4.78%
Insurance	4.69%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DGCCX-0926

Macquarie Logo

Nomura Corporate Bond Fund
(formerly, Macquarie Corporate Bond Fund)

Class R : DGCRX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R	$105	1.04%

Management's discussion of Fund performance

Performance highlights

Nomura Corporate Bond Fund (Class R) returned 1.56% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 2.53%.

Top contributors to performance:

Investments in banking and non-cyclicals.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in capital goods and real estate investment trusts (REITs).

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Corporate Bond Fund (Class R) – including sales charge	1.56	%	-1.28	%	1.87	%
Nomura Corporate Bond Fund (Class R) – excluding sales charge	1.56	%	-1.28	%	1.87	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg US Corporate Bond Index	2.53	%	-0.27	%	2.27	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$893,588,559
Total number of portfolio holdings*	288
Total net advisory fees paid (during reporting period)	$3,669,096
Portfolio turnover rate	219%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Banking	22.39%
Electric	10.43%
Energy	8.19%
Communications	8.15%
Finance Companies	7.42%
Consumer Non-Cyclical	7.10%
Technology	5.41%
Consumer Cyclical	5.21%
Capital Goods	4.78%
Insurance	4.69%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DGCRX-0926

Macquarie Logo

Nomura Corporate Bond Fund
(formerly, Macquarie Corporate Bond Fund)

Institutional Class : DGCIX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$55	0.54%

Management's discussion of Fund performance

Performance highlights

Nomura Corporate Bond Fund (Institutional Class) returned 2.07% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 2.53%.

Top contributors to performance:

Investments in banking and non-cyclicals.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in capital goods and real estate investment trusts (REITs).

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Corporate Bond Fund (Institutional Class) – including sales charge	2.07	%	-0.78	%	2.36	%
Nomura Corporate Bond Fund (Institutional Class) – excluding sales charge	2.07	%	-0.78	%	2.36	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg US Corporate Bond Index	2.53	%	-0.27	%	2.27	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$893,588,559
Total number of portfolio holdings*	288
Total net advisory fees paid (during reporting period)	$3,669,096
Portfolio turnover rate	219%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Banking	22.39%
Electric	10.43%
Energy	8.19%
Communications	8.15%
Finance Companies	7.42%
Consumer Non-Cyclical	7.10%
Technology	5.41%
Consumer Cyclical	5.21%
Capital Goods	4.78%
Insurance	4.69%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DGCIX-0926

Macquarie Logo

Nomura Corporate Bond Fund
(formerly, Macquarie Corporate Bond Fund)

Class R6 : DGCZX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$46	0.46%

Management's discussion of Fund performance

Performance highlights

Nomura Corporate Bond Fund (Class R6) returned 2.16% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 2.53%.

Top contributors to performance:

Investments in banking and non-cyclicals.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in capital goods and real estate investment trusts (REITs).

Fund performance

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 broad-based securities market index and an additional narrowly based securities market index for the same period.

Growth of $10,000 investment

For the period January 31, 2019 (Class R6's inception), through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		Since inception (1/31/19)
Nomura Corporate Bond Fund (Class R6) – including sales charge	2.16	%	-0.70	%	2.75	%
Nomura Corporate Bond Fund (Class R6) – excluding sales charge	2.16	%	-0.70	%	2.75	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.62	%
Bloomberg US Corporate Bond Index	2.53	%	-0.27	%	2.62	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$893,588,559
Total number of portfolio holdings*	288
Total net advisory fees paid (during reporting period)	$3,669,096
Portfolio turnover rate	219%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Banking	22.39%
Electric	10.43%
Energy	8.19%
Communications	8.15%
Finance Companies	7.42%
Consumer Non-Cyclical	7.10%
Technology	5.41%
Consumer Cyclical	5.21%
Capital Goods	4.78%
Insurance	4.69%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Corporate Bond Fund.

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).

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DGCZX-0926

Macquarie Logo

Nomura Extended Duration Bond Fund
(formerly, Macquarie Extended Duration Bond Fund)

Class A : DEEAX

Annual shareholder report | July 31, 2026

This annual shareholder report contains important information about Nomura Extended Duration Bond Fund (Fund) for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$81	0.81%

Management's discussion of Fund performance

Performance highlights

Nomura Extended Duration Bond Fund (Class A) returned 0.19% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 0.74%.

Top contributors to performance:

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.

Investments in banking and communications.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in consumer electric and insurance.

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Extended Duration Bond Fund (Class A) – including sales charge	-4.34	%	-5.12	%	0.43	%
Nomura Extended Duration Bond Fund (Class A) – excluding sales charge	0.19	%	-4.23	%	0.89	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg Long US Corporate Index	0.74	%	-3.51	%	1.48	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$242,907,254
Total number of portfolio holdings*	174
Total net advisory fees paid (during reporting period)	$921,694
Portfolio turnover rate	124%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Electric	13.93%
Consumer Non-Cyclical	13.57%
Communications	12.20%
Banking	11.45%
Energy	10.60%
Capital Goods	8.06%
Insurance	6.31%
Technology	5.71%
Consumer Cyclical	3.90%
Natural Gas	2.89%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DEEAX-0926

Macquarie Logo

Nomura Extended Duration Bond Fund
(formerly, Macquarie Extended Duration Bond Fund)

Class C : DEECX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$156	1.56%

Management's discussion of Fund performance

Performance highlights

Nomura Extended Duration Bond Fund (Class C) returned -0.57% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 0.74%.

Top contributors to performance:

Investments in banking and communications.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in consumer electric and insurance.

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Extended Duration Bond Fund (Class C) – including sales charge	-1.52	%	-4.95	%	0.15	%
Nomura Extended Duration Bond Fund (Class C) – excluding sales charge	-0.57	%	-4.95	%	0.15	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg Long US Corporate Index	0.74	%	-3.51	%	1.48	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$242,907,254
Total number of portfolio holdings*	174
Total net advisory fees paid (during reporting period)	$921,694
Portfolio turnover rate	124%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Electric	13.93%
Consumer Non-Cyclical	13.57%
Communications	12.20%
Banking	11.45%
Energy	10.60%
Capital Goods	8.06%
Insurance	6.31%
Technology	5.71%
Consumer Cyclical	3.90%
Natural Gas	2.89%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DEECX-0926

Macquarie Logo

Nomura Extended Duration Bond Fund
(formerly, Macquarie Extended Duration Bond Fund)

Class R : DEERX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R	$106	1.06%

Management's discussion of Fund performance

Performance highlights

Nomura Extended Duration Bond Fund (Class R) returned -0.05% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 0.74%.

Top contributors to performance:

Investments in banking and communications.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in consumer electric and insurance.

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Extended Duration Bond Fund (Class R) – including sales charge	-0.05	%	-4.48	%	0.65	%
Nomura Extended Duration Bond Fund (Class R) – excluding sales charge	-0.05	%	-4.48	%	0.65	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg Long US Corporate Index	0.74	%	-3.51	%	1.48	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$242,907,254
Total number of portfolio holdings*	174
Total net advisory fees paid (during reporting period)	$921,694
Portfolio turnover rate	124%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Electric	13.93%
Consumer Non-Cyclical	13.57%
Communications	12.20%
Banking	11.45%
Energy	10.60%
Capital Goods	8.06%
Insurance	6.31%
Technology	5.71%
Consumer Cyclical	3.90%
Natural Gas	2.89%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DEERX-0926

Macquarie Logo

Nomura Extended Duration Bond Fund
(formerly, Macquarie Extended Duration Bond Fund)

Institutional Class : DEEIX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$56	0.56%

Management's discussion of Fund performance

Performance highlights

Nomura Extended Duration Bond Fund (Institutional Class) returned 0.50% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 0.74%.

Top contributors to performance:

Investments in banking and communications.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in consumer electric and insurance.

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Extended Duration Bond Fund (Institutional Class) – including sales charge	0.50	%	-3.99	%	1.16	%
Nomura Extended Duration Bond Fund (Institutional Class) – excluding sales charge	0.50	%	-3.99	%	1.16	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg Long US Corporate Index	0.74	%	-3.51	%	1.48	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$242,907,254
Total number of portfolio holdings*	174
Total net advisory fees paid (during reporting period)	$921,694
Portfolio turnover rate	124%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Electric	13.93%
Consumer Non-Cyclical	13.57%
Communications	12.20%
Banking	11.45%
Energy	10.60%
Capital Goods	8.06%
Insurance	6.31%
Technology	5.71%
Consumer Cyclical	3.90%
Natural Gas	2.89%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5871626)

TSAR-DEEIX-0926

Macquarie Logo

Nomura Extended Duration Bond Fund
(formerly, Macquarie Extended Duration Bond Fund)

Class R6 : DEZRX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$47	0.47%

Management's discussion of Fund performance

Performance highlights

Nomura Extended Duration Bond Fund (Class R6) returned 0.59% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 0.74%.

Top contributors to performance:

Investments in banking and communications.

Top detractors from performance:

Long-duration investments, which lagged as US Treasury rates climbed over the Fund's fiscal year.

Investments in consumer electric and insurance.

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Extended Duration Bond Fund (Class R6) – including sales charge	0.59	%	-3.88	%	1.24	%
Nomura Extended Duration Bond Fund (Class R6) – excluding sales charge	0.59	%	-3.88	%	1.24	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Bloomberg Long US Corporate Index	0.74	%	-3.51	%	1.48	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$242,907,254
Total number of portfolio holdings*	174
Total net advisory fees paid (during reporting period)	$921,694
Portfolio turnover rate	124%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation*

Electric	13.93%
Consumer Non-Cyclical	13.57%
Communications	12.20%
Banking	11.45%
Energy	10.60%
Capital Goods	8.06%
Insurance	6.31%
Technology	5.71%
Consumer Cyclical	3.90%
Natural Gas	2.89%

* Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Extended Duration Bond Fund.

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).

Effective June 12, 2026, Nomura Corporate Research and Asset Management Inc. became a sub-advisor of the Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

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(5871626)

TSAR-DEZRX-0926

Macquarie Logo

Nomura Floating Rate Fund
(formerly, Macquarie Floating Rate Fund)

Class A : DDFAX

Annual shareholder report | July 31, 2026

This annual shareholder report contains important information about Nomura Floating Rate Fund (Fund) for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$95	0.93%

Management's discussion of Fund performance

Performance highlights

Nomura Floating Rate Fund (Class A) returned 4.90% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 4.28%.

Top contributors to performance:

Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark

The Fund’s positions in collateralized loan obligation debt securities and high yield bonds

Security selection and an underweight allocation to the software and services sector relative to the benchmark

Top detractors from performance:

Security selection and an underweight allocation to the energy sector relative to the benchmark

An underweight allocation to the pharmaceuticals sector relative to the benchmark

Security selection within the telecommunication services and food and beverage sectors

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Floating Rate Fund (Class A) – including sales charge	2.08	%	5.32	%	4.69	%
Nomura Floating Rate Fund (Class A) – excluding sales charge	4.90	%	5.91	%	4.97	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Morningstar LSTA US Leveraged Loan Index	4.28	%	6.18	%	5.43	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$610,173,148
Total number of portfolio holdings*	234
Total net advisory fees paid (during reporting period)	$3,128,383
Portfolio turnover rate	65%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

Industrials	17.21%
Financials	16.48%
Consumer Discretionary	12.01%
Materials	11.45%
Healthcare	10.16%
Information Technology	9.03%
Communication Services	8.12%
Utilities	5.20%
Consumer Staples	4.89%
Energy	0.26%

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.

Effective December 1, 2025, 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.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5854033)

TSAR-DDFAX-0926

Macquarie Logo

Nomura Floating Rate Fund
(formerly, Macquarie Floating Rate Fund)

Class C : DDFCX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$171	1.68%

Management's discussion of Fund performance

Performance highlights

Nomura Floating Rate Fund (Class C) returned 4.12% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 4.28%.

Top contributors to performance:

Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark

The Fund’s positions in collateralized loan obligation debt securities and high yield bonds

Security selection and an underweight allocation to the software and services sector relative to the benchmark

Top detractors from performance:

Security selection and an underweight allocation to the energy sector relative to the benchmark

An underweight allocation to the pharmaceuticals sector relative to the benchmark

Security selection within the telecommunication services and food and beverage sectors

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Floating Rate Fund (Class C) – including sales charge	3.13	%	5.12	%	4.19	%
Nomura Floating Rate Fund (Class C) – excluding sales charge	4.12	%	5.12	%	4.19	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Morningstar LSTA US Leveraged Loan Index	4.28	%	6.18	%	5.43	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$610,173,148
Total number of portfolio holdings*	234
Total net advisory fees paid (during reporting period)	$3,128,383
Portfolio turnover rate	65%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

Industrials	17.21%
Financials	16.48%
Consumer Discretionary	12.01%
Materials	11.45%
Healthcare	10.16%
Information Technology	9.03%
Communication Services	8.12%
Utilities	5.20%
Consumer Staples	4.89%
Energy	0.26%

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5854033)

TSAR-DDFCX-0926

Macquarie Logo

Nomura Floating Rate Fund
(formerly, Macquarie Floating Rate Fund)

Class R : DDFFX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R	$121	1.18%

Management's discussion of Fund performance

Performance highlights

Nomura Floating Rate Fund (Class R) returned 4.76% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 4.28%.

Top contributors to performance:

Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark

The Fund’s positions in collateralized loan obligation debt securities and high yield bonds

Security selection and an underweight allocation to the software and services sector relative to the benchmark

Top detractors from performance:

Security selection and an underweight allocation to the energy sector relative to the benchmark

An underweight allocation to the pharmaceuticals sector relative to the benchmark

Security selection within the telecommunication services and food and beverage sectors

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Floating Rate Fund (Class R) – including sales charge	4.76	%	5.64	%	4.71	%
Nomura Floating Rate Fund (Class R) – excluding sales charge	4.76	%	5.64	%	4.71	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Morningstar LSTA US Leveraged Loan Index	4.28	%	6.18	%	5.43	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$610,173,148
Total number of portfolio holdings*	234
Total net advisory fees paid (during reporting period)	$3,128,383
Portfolio turnover rate	65%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

Industrials	17.21%
Financials	16.48%
Consumer Discretionary	12.01%
Materials	11.45%
Healthcare	10.16%
Information Technology	9.03%
Communication Services	8.12%
Utilities	5.20%
Consumer Staples	4.89%
Energy	0.26%

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5854033)

TSAR-DDFFX-0926

Macquarie Logo

Nomura Floating Rate Fund
(formerly, Macquarie Floating Rate Fund)

Institutional Class : DDFLX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$70	0.68%

Management's discussion of Fund performance

Performance highlights

Nomura Floating Rate Fund (Institutional Class) returned 5.16% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 4.28%.

Top contributors to performance:

Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark

The Fund’s positions in collateralized loan obligation debt securities and high yield bonds

Security selection and an underweight allocation to the software and services sector relative to the benchmark

Top detractors from performance:

Security selection and an underweight allocation to the energy sector relative to the benchmark

An underweight allocation to the pharmaceuticals sector relative to the benchmark

Security selection within the telecommunication services and food and beverage sectors

Fund performance

Growth of $10,000 investment

For the period July 31, 2016, through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		5 year		10 year
Nomura Floating Rate Fund (Institutional Class) – including sales charge	5.16	%	6.17	%	5.23	%
Nomura Floating Rate Fund (Institutional Class) – excluding sales charge	5.16	%	6.17	%	5.23	%
Bloomberg US Aggregate Index	2.71	%	-0.40	%	1.35	%
Morningstar LSTA US Leveraged Loan Index	4.28	%	6.18	%	5.43	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$610,173,148
Total number of portfolio holdings*	234
Total net advisory fees paid (during reporting period)	$3,128,383
Portfolio turnover rate	65%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

Industrials	17.21%
Financials	16.48%
Consumer Discretionary	12.01%
Materials	11.45%
Healthcare	10.16%
Information Technology	9.03%
Communication Services	8.12%
Utilities	5.20%
Consumer Staples	4.89%
Energy	0.26%

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5854033)

TSAR-DDFLX-0926

Macquarie Logo

Nomura Floating Rate Fund
(formerly, Macquarie Floating Rate Fund)

Class R6 : DDFZX

Annual shareholder report | July 31, 2026

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last 12 months ?

(Based on a hypothetical $10,000 investment)

Class	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$62	0.60%

Management's discussion of Fund performance

Performance highlights

Nomura Floating Rate Fund (Class R6) returned 5.38% (excluding sales charge) for the 12 months ended July 31, 2026. 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 (benchmark), returned 4.28%.

Top contributors to performance:

Security selection and an overweight allocation in the utilities and materials sectors relative to the Fund’s benchmark

The Fund’s positions in collateralized loan obligation debt securities and high yield bonds

Security selection and an underweight allocation to the software and services sector relative to the benchmark

Top detractors from performance:

Security selection and an underweight allocation to the energy sector relative to the benchmark

An underweight allocation to the pharmaceuticals sector relative to the benchmark

Security selection within the telecommunication services and food and beverage sectors

Fund performance

Growth of $10,000 investment

For the period August 31, 2021 (Class R6's inception), through July 31, 2026

Fund Performance - Growth of 10K

Average annual total returns (as of July 31, 2026)	1 year		Since inception (8/31/21)
Nomura Floating Rate Fund (Class R6) – including sales charge	5.38	%	6.29	%
Nomura Floating Rate Fund (Class R6) – excluding sales charge	5.38	%	6.29	%
Bloomberg US Aggregate Index	2.71	%	-0.37	%
Morningstar LSTA US Leveraged Loan Index	4.28	%	6.19	%

Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future.

Fund statistics (as of July 31, 2026)

Fund net assets	$610,173,148
Total number of portfolio holdings*	234
Total net advisory fees paid (during reporting period)	$3,128,383
Portfolio turnover rate	65%

*	Excludes cash and cash equivalents.

Fund holdings (as of July 31, 2026)

The table below shows the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.

Sector allocation

Industrials	17.21%
Financials	16.48%
Consumer Discretionary	12.01%
Materials	11.45%
Healthcare	10.16%
Information Technology	9.03%
Communication Services	8.12%
Utilities	5.20%
Consumer Staples	4.89%
Energy	0.26%

Material Fund changes

Effective December 1, 2025, the Fund was renamed Nomura Floating Rate Fund.

Changes in and disagreements with accountants

Availability of additional information

Householding

TSR - QR Code - Delaware

For more information, please scan the QR code at left to navigate to additional hosted material at nomuraassetmanagement.com/literature.

(5854033)

TSAR-DDFZX-0926

(b)

Not applicable.

Item 2. Code of Ethics.

(a)

The registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. A copy of the registrant’s Code of Business Ethics has been posted on the Nomura Funds Internet Web site at https://global.nomuraassetmanagement.com/about/business-ethics. Any amendments to the Code of Business Ethics, and information on any waiver from its provisions granted by the registrant, will also be posted on this Web site within five business days of such amendment or waiver and will remain on the Web site for at least 12 months.

Item 3. Audit Committee Financial Expert.

The registrant’s Board of Trustees has determined that certain members of the registrant’s Audit Committee are audit committee financial experts, as defined below. For purposes of this item, an “audit committee financial expert” is a person who has the following attributes:

a. An understanding of generally accepted accounting principles and financial statements;

b. The ability to assess the general application of such principles in connection with the accounting for estimates, accruals, and reserves;

c. Experience preparing, auditing, analyzing, or evaluating financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of issues that can reasonably be expected to be raised by the registrant’s financial statements, or experience actively supervising one or more persons engaged in such activities;

d. An understanding of internal controls and procedures for financial reporting; and

e. An understanding of audit committee functions.

An “audit committee financial expert” shall have acquired such attributes through:

a. Education and experience as a principal financial officer, principal accounting officer, controller, public accountant, or auditor or experience in one or more positions that involve the performance of similar functions;

b. Experience actively supervising a principal financial officer, principal accounting officer, controller, public accountant, auditor, or person performing similar functions;

c. Experience overseeing or assessing the performance of companies or public accountants with respect to the preparation, auditing, or evaluation of financial statements; or

d. Other relevant experience.

The registrant’s Board of Trustees has also determined that each member of the registrant’s Audit Committee is independent. In order to be “independent” for purposes of this item, the Audit Committee member may not, other than in his or her capacity as a member of the Board of Trustees or any committee thereof, (i) accept directly or indirectly any consulting, advisory or other compensatory fee from the issuer; or (ii) be an “interested person” of the registrant as defined in Section 2(a)(19) of the Investment Company Act of 1940.

The names of the audit committee financial experts on the registrant’s Audit Committee are set forth below:

Joseph W. Chow

Frances A. Sevilla-Sacasa, Chair

Christianna Wood

Item 4. Principal Accountant Fees and Services.

Audit Fees

(a)

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years are $148,000 for 2026 and $167,318 for 2025.

Audit-Related Fees

(b)

The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item are $0 for 2026 and $1,627,131 for 2025.

Tax Fees

(c)

The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning are $35,500 for 2026 and $20,280 for 2025.

All Other Fees

(d)

The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are $0 for 2026 and $0 for 2025.

(e)(1)

The registrant’s Audit Committee has established pre-approval policies and procedures as permitted by Rule 2-01(c)(7)(i)(B) of Regulation S-X (the “Pre-Approval Policy”) with respect to services provided by the registrant’s independent auditors. Pursuant to the Pre-Approval Policy, the Audit Committee has pre-approved the services set forth in the table below with respect to the registrant up to the specified fee limits. Certain fee limits are based on aggregate fees to the registrant and other registrants within the Nomura Funds.


Service		Range of Fees

Audit Services

Statutory audits or financial audits for new Funds		up to $50,000 per Fund

Services associated with SEC registration statements (e.g., Form N-1A, Form N-14, etc.), periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (e.g., comfort letters for closed-end Fund offerings, consents), and assistance in responding to SEC comment letters		up to $10,000 per Fund

Consultations by Fund management as to the accounting or disclosure treatment of transactions or events and/or the actual or potential impact of final or proposed rules, standards or interpretations by the SEC, FASB, or other regulatory or standard-setting bodies (Note: Under SEC rules, some consultations may be considered “audit-related services” rather than “audit services”)		up to $25,000 in the aggregate

Audit-Related Services

Consultations by Fund management as to the accounting or disclosure treatment of transactions or events and /or the actual or potential impact of final or proposed rules, standards or interpretations by the SEC, FASB, or other regulatory or standard-setting bodies (Note: Under SEC rules, some consultations may be considered “audit services” rather than “audit-related services”)		up to $25,000 in the aggregate

Tax Services

U.S. federal, state and local and international tax planning and advice (e.g., consulting on statutory, regulatory or administrative developments, evaluation of Funds’ tax compliance function, etc.)		up to $25,000 in the aggregate

U.S. federal, state and local tax compliance (e.g., excise distribution reviews, etc.)		up to $5,000 per Fund

Review of federal, state, local and international income, franchise and other tax returns		up to $5,000 per Fund

Under the Pre-Approval Policy, the Audit Committee has also pre-approved the services set forth in the table below with respect to the registrant’s investment adviser and other entities controlling, controlled by or under common control with the investment adviser that provide ongoing services to the registrant (the “Control Affiliates”) up to the specified fee limit. This fee limit is based on aggregate fees to the investment adviser and its Control Affiliates.


Service	Range of Fees

Non-Audit Services

Services associated with periodic reports and other documents filed with the SEC and assistance in responding to SEC comment letters		up to $10,000 in the aggregate

The Pre-Approval Policy requires the registrant’s independent auditors to report to the Audit Committee at each of its regular meetings regarding all services initiated since the last such report was rendered, including those services authorized by the Pre-Approval Policy.

(e)(2)

The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X are as follows:

(b) 0%

(d) 0%

(f)

Not applicable.

(g)

The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant was $0 for 2026 and $17,300,000 for 2025.

(h)

The audit committee of the registrant’s board of trustees has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

(i)

Not applicable.

(j)

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a)	Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1(a) of this form.

(b)	Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

(a)	An open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A] must file its most recent annual or semi-annual financial statements required, and for the periods specified, by Regulation S-X.

The annual financial statements are attached herewith.

(b)	An open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A] must file the information required by Item 13 of Form N-1A.

The Financial Highlights are attached herewith.

Fixed income mutual funds

Nomura Corporate Bond Fund
(formerly, Macquarie Corporate Bond Fund)

Nomura Extended Duration Bond Fund
(formerly, Macquarie Extended Duration Bond Fund)

Financial statements and other information

For the year ended July 31, 2026

Table of contents

Schedules of investments	1
Statements of assets and liabilities	24
Statements of operations	26
Statements of changes in net assets	28
Financial highlights	32
Notes to financial statements	52
Report of independent registered public accounting firm	73
Other Fund information	74

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

Form N-PORT and proxy voting information

Each Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT. Each Fund’s Form N-PORT, as well as a description of the policies and procedures that the Funds use to determine how to vote proxies (if any) relating to portfolio securities, are available without charge (i) upon request, by calling 800 523-1918; and (ii) on the SEC’s website at sec.gov. In addition, a description of the policies and procedures that the Funds use to determine how to vote proxies (if any) relating to portfolio securities and the Schedule of Investments included in the Funds’ most recent Form N-PORT are available without charge on the Funds’ website at nomuraassetmanagement.com/literature.

Information (if any) regarding how the Funds voted proxies relating to portfolio securities during the most recently disclosed 12-month period ended June 30 is available without charge (i) through the Funds’ website at nomuraassetmanagement.com/proxy; and (ii) on the SEC’s website at sec.gov.

	Principal amount^°	Value (US $)
Collateralized Loan Obligations — 0.62%
Benefit Street Partners CLO X Series 2016-10A A2R3 144A 5.429% (TSFR03M + 1.70%, Floor 1.70%) 7/20/38 #, •	2,810,000	$ 2,815,098
Magnetite LI Series 2025-51A A1 144A 5.01% (TSFR03M + 1.20%, Floor 1.20%) 10/25/38 #, •	2,700,000	2,700,591
Total Collateralized Loan Obligations (cost $5,510,000)		5,515,689


Corporate Bonds — 96.54%
Automotive — 0.13%
Adient Global Holdings 144A 7.50% 2/15/33 #	1,100,000	1,136,039
		1,136,039
Banking — 22.39%
Al Rajhi Sukuk 5.651% 3/16/36 μ, ■	2,480,000	2,442,050
Banco Santander
4.867% 4/15/31	2,400,000	2,364,179
7.25% 12/3/35 μ, ψ	2,000,000	2,006,470
Bank of America
5.489% 4/23/37 μ	6,125,000	5,969,416
5.518% 10/25/35 μ	5,783,000	5,720,517
6.625% 5/1/30 μ, ψ	1,790,000	1,828,447


Bank of Montreal 7.70% 5/26/84 μ	590,000	612,315
Bank of New York Mellon
5.95% 12/20/30 μ, ψ	820,000	822,948
6.15% 9/20/31 μ, ψ	415,000	411,637


Bank of Nova Scotia 8.00% 1/27/84 μ	390,000	409,303
Banque Federative du Credit Mutuel 144A 4.541% 1/15/31 #	4,625,000	4,502,387
Barclays 9.625% 12/15/29 μ, ψ	2,600,000	2,871,944
BNP Paribas 144A 7.00% 8/16/28 #, μ, ψ	590,000	602,450
BPCE 144A 6.347% 1/13/47 #, μ	2,800,000	2,625,992
Citibank 4.846% 6/18/32 μ	5,095,000	5,035,657
Citigroup
6.875% 8/15/30 μ, ψ	1,005,000	1,015,376
7.00% 8/15/34 μ, ψ	1,965,000	2,009,723
Citizens Financial Group
5.299% 1/29/36 μ	1,790,000	1,753,034
6.75% 10/6/31 μ, ψ	620,000	615,096
Credit Agricole
144A 4.75% 3/23/29 #, μ, ψ	640,000	622,695
144A 5.186% 8/1/32 #, μ	3,780,000	3,754,291

	Principal amount^°	Value (US $)
Corporate Bonds (continued)
Banking (continued)
Credit Agricole
144A 6.70% 9/23/34 #, μ, ψ	205,000	$ 203,818
Deutsche Bank
4.95% 8/4/31 μ	2,495,000	2,464,715
5.297% 5/9/31 μ	2,580,000	2,582,240
6.819% 11/20/29 μ	4,193,000	4,364,076
Goldman Sachs Group
4.972% 6/3/32 μ	5,535,000	5,461,222
5.094% 4/20/34 μ	5,580,000	5,463,710
5.387% 2/2/41 μ	3,585,000	3,397,347
6.215% 7/21/57 μ	3,090,000	3,062,511
6.484% 10/24/29 μ	8,145,000	8,406,096
6.50% 8/10/31 μ, ψ	415,000	412,089
7.50% 5/10/29 μ, ψ	1,565,000	1,619,897
HSBC Holdings
4.711% 5/12/30 μ	7,900,000	7,834,700
7.00% 9/24/35 μ, ψ	280,000	284,768
7.05% 6/5/30 μ, ψ	280,000	286,483


Huntington Bancshares 4.45% 10/15/27 μ, ψ	705,000	694,408
JPMorgan Chase & Co.
5.193% 2/5/37 μ	14,035,000	13,484,766
6.10% 7/1/31 μ, ψ	2,875,000	2,864,739
6.254% 10/23/34 μ	1,612,000	1,692,635


Mitsubishi UFJ Financial Group 4.847% 4/21/32 μ	2,530,000	2,493,519
Morgan Stanley
4.809% 4/16/32 μ	4,550,000	4,463,953
5.605% 7/17/37 μ	2,355,000	2,341,716
5.90% 3/13/47 μ	1,030,000	997,030
6.407% 11/1/29 μ	6,240,000	6,440,276
6.627% 11/1/34 μ	6,485,000	6,909,069


Morgan Stanley Bank 4.788% 5/10/30 μ	3,430,000	3,416,520
National Australia Bank 144A 5.625% 6/4/37 #, μ	5,600,000	5,474,342
Nordea Bank 144A 6.75% 11/10/33 #, μ, ψ	2,841,000	2,833,733
Northern Trust 5.117% 11/19/40 μ	5,695,000	5,457,124
PNC Financial Services Group 6.25% 3/15/30 μ, ψ	1,615,000	1,632,917
Popular 7.25% 3/13/28	7,805,000	8,005,448
Royal Bank of Canada 6.50% 11/24/85 μ	3,155,000	3,065,016
State Street
5.094% 4/24/37 μ	2,316,000	2,246,354
6.45% 9/15/30 μ, ψ	1,620,000	1,645,938


Toronto-Dominion Bank 6.35% 10/31/85 μ	770,000	770,297

	Number of shares
Common Stock — 0.05%♣
Financials — 0.05%
MNSN Holdings =, †	5,640	445,560
Total Common Stock (cost $42,300)		445,560



Convertible Preferred Stock — 0.13%♣
Energy — 0.13%
El Paso Energy Capital Trust I 4.75% exercise price $34.49, maturity date 3/31/28 †	22,731	1,159,281
Total Convertible Preferred Stock (cost $1,136,296)		1,159,281



Preferred Stock — 0.25%♣
Financials — 0.25%
SVB Financial Trust 11/7/29 †	6,431	2,231,557
Total Preferred Stock (cost $2,884,551)		2,231,557

	Number of shares	Value (US $)


Short-Term Investments — 2.35%
Money Market Mutual Funds — 2.35%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.56%)	5,249,282	$ 5,249,282
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.55%)	5,249,282	5,249,282
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.63%)	5,249,282	5,249,282
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.59%)	5,249,283	5,249,283
Total Short-Term Investments (cost $20,997,129)		20,997,129
Total Value of Securities—100.75% (cost $921,816,104)		900,248,728


Liabilities Net of Receivables and Other Assets—(0.75%)		(6,660,169)
Net Assets Applicable to 60,282,468 Shares Outstanding—100.00%		$893,588,559

°	Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
#	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At July 31, 2026, the aggregate value of Rule 144A securities was $265,497,708, which represents 29.71% of the Fund’s net assets. See Note 10 in “Notes to financial statements.”
•	Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at July 31, 2026. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions.
μ	Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at July 31, 2026. Rate will reset at a future date.
■	Regulation S security. Security is offered and sold outside of the United States; therefore, it is exempt from registration with the SEC under Rules 903 and 904 of the Securities Act of 1933, as amended.
ψ	Perpetual security. Maturity date represents next call date.
Δ	Securities have been classified by country of risk.

♣	Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.
=	The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the disclosure table located in Note 3 in “Notes to financial statements.”
†	Non-income producing security.

Futures Contracts Exchange-Traded
Contracts to Buy (Sell)	Notional Amount	Notional Cost (Proceeds)	Expiration Date	Value/ Unrealized Appreciation	Value/ Unrealized Depreciation	Variation Margin Due from (Due to) Brokers
Long Contracts:
US Treasury 10 yr Notes
481	$51,948,000	$52,485,444	9/21/26	$—	$(537,444)	$(267,897)
US Treasury Long Bonds
599	64,879,188	66,854,213	9/21/26	—	(1,975,025)	(655,156)
US Treasury Ultra Bonds
88	9,652,500	10,251,485	9/21/26	—	(598,985)	(104,500)
		129,591,142		—	(3,111,454)	(1,027,553)
Short Contracts:
US Treasury 5 yr Notes
(582)	(61,678,358)	(62,083,925)	9/30/26	405,567	—	204,614
US Treasury 10 yr Ultra Notes
(1,234)	(135,373,662)	(137,349,860)	9/21/26	1,976,198	—	867,650
		(199,433,785)		2,381,765	—	1,072,264
Total Futures Contracts		$(69,842,643)		$2,381,765	$(3,111,454)	$44,711

	Principal amount^°	Value (US $)
Collateralized Loan Obligations — 0.47%
Benefit Street Partners CLO X Series 2016-10A A2R3 144A 5.429% (TSFR03M + 1.70%, Floor 1.70%) 7/20/38 #, •	390,000	$ 390,708
Magnetite LI Series 2025-51A A1 144A 5.01% (TSFR03M + 1.20%, Floor 1.20%) 10/25/38 #, •	750,000	750,164
Total Collateralized Loan Obligations (cost $1,140,000)		1,140,872


Corporate Bonds — 97.17%
Automotive — 0.13%
Adient Global Holdings 144A 7.50% 2/15/33 #	300,000	309,829
		309,829
Banking — 11.45%
Al Rajhi Sukuk 5.651% 3/16/36 μ, ■	660,000	649,900
Bank of America
2.676% 6/19/41 μ	3,400,000	2,396,286
6.625% 5/1/30 μ, ψ	1,020,000	1,041,909


Bank of New York Mellon 6.15% 9/20/31 μ, ψ	1,175,000	1,165,477
Barclays 9.625% 12/15/29 μ, ψ	850,000	938,905
Citigroup
5.612% 3/4/56 μ	1,600,000	1,498,035
6.875% 8/15/30 μ, ψ	475,000	479,904
7.00% 8/15/34 μ, ψ	1,000,000	1,022,760


Citizens Financial Group 6.75% 10/6/31 μ, ψ	625,000	620,056
Goldman Sachs Group
5.387% 2/2/41 μ	1,305,000	1,236,691
6.215% 7/21/57 μ	1,180,000	1,169,503
6.50% 8/10/31 μ, ψ	630,000	625,581
JPMorgan Chase & Co.
5.193% 2/5/37 μ	1,245,000	1,196,190
5.534% 11/29/45 μ	3,290,000	3,135,614


Mitsubishi UFJ Financial Group 5.868% 4/21/47 μ	2,125,000	2,066,303
Morgan Stanley
5.516% 11/19/55 μ	2,475,000	2,266,536
5.90% 3/13/47 μ	276,000	267,165


Societe Generale 144A 7.367% 1/10/53 #	860,000	881,324
UBS Group 144A 9.25% 11/13/28 #, μ, ψ	1,425,000	1,526,828
Wells Fargo & Co. 5.433% 1/23/47 μ	3,940,000	3,631,273
		27,816,240

	Number of shares
Convertible Preferred Stock — 0.32%♣
Energy — 0.32%
El Paso Energy Capital Trust I 4.75% exercise price $34.49, maturity date 3/31/28 †	14,912	760,512
Total Convertible Preferred Stock (cost $740,232)		760,512



Short-Term Investments — 0.33%
Money Market Mutual Funds — 0.33%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.56%)	204,742	204,742
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.55%)	204,742	204,742
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.63%)	204,742	204,742

	Number of shares	Value (US $)
Short-Term Investments (continued)
Money Market Mutual Funds (continued)
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.59%)	204,742	$ 204,742
Total Short-Term Investments (cost $818,968)		818,968
Total Value of Securities—98.55% (cost $255,367,133)		239,396,123


Receivables and Other Assets Net of Liabilities—1.45%		3,511,131
Net Assets Applicable to 18,291,562 Shares Outstanding—100.00%		$242,907,254

	Nomura Corporate Bond Fund	Nomura Extended Duration Bond Fund
Assets:
Investments, at value*	$900,248,728	$239,396,123
Cash	605,751	399,536
Cash collateral due from broker	1,708,087	630,466
Dividends and interest receivable	11,303,328	3,633,685
Receivable for fund shares sold	800,048	592,704
Prepaid expenses	71,557	59,257
Variation margin due from broker on futures contracts	44,711	—
Other assets	22,815	3,582
Total Assets	914,805,025	244,715,353
Liabilities:
Payable for securities purchased	17,807,463	583,543
Distribution payable	1,284,131	34,840
Payable for fund shares redeemed	1,251,621	851,925
Other accrued expenses	507,496	188,783
Investment management fees payable to affiliates	288,085	69,529
Distribution fees payable to affiliates	66,620	8,607
Dividend disbursing and transfer agent fees and expenses payable to affiliates	5,571	1,543
Accounting and administration expenses payable to affiliates	3,947	1,316
Legal fees payable to affiliates	1,532	428
Variation margin due to broker on futures contracts	—	67,585
Total Liabilities	21,216,466	1,808,099
Total Net Assets	$893,588,559	$242,907,254

Net Assets Consist of:
Paid-in capital	$1,280,929,746	$391,528,993
Total distributable earnings (loss)	(387,341,187)	(148,621,739)
Total Net Assets	$893,588,559	$242,907,254

	Nomura Corporate Bond Fund	Nomura Extended Duration Bond Fund

Net Asset Value

Class A:
Net assets	$275,886,583	$26,192,473
Shares of beneficial interest outstanding, unlimited authorization, no par	18,610,785	1,968,741
Net asset value per share	$14.82	$13.30
Sales charge	4.50%	4.50%
Offering price per share, equal to net asset value per share / (1 - sales charge)	$15.52	$13.93

Class C:
Net assets	$4,964,441	$1,958,967
Shares of beneficial interest outstanding, unlimited authorization, no par	334,821	147,346
Net asset value per share	$14.83	$13.29**

Class R:
Net assets	$5,925,668	$2,639,266
Shares of beneficial interest outstanding, unlimited authorization, no par	399,373	198,050
Net asset value per share	$14.84	$13.33

Institutional Class:
Net assets	$602,602,183	$201,009,007
Shares of beneficial interest outstanding, unlimited authorization, no par	40,653,328	15,141,414
Net asset value per share	$14.82	$13.28

Class R6:
Net assets	$4,209,684	$11,107,541
Shares of beneficial interest outstanding, unlimited authorization, no par	284,161	836,011
Net asset value per share	$14.81	$13.29
*Investments, at cost	$921,816,104	$255,367,133
**Net asset value per share does not recalculate exactly, due to rounding.

	Nomura Corporate Bond Fund	Nomura Extended Duration Bond Fund
Investment Income:
Interest	$52,781,906	$15,442,056
Dividends	849,721	62,702
	53,631,627	15,504,758

Expenses:
Management fees	4,862,361	1,528,208
Distribution expenses — Class A	755,078	73,182
Distribution expenses — Class C	61,393	23,547
Distribution expenses — Class R	33,499	15,526
Dividend disbursing, transfer agent and sub-transfer agent fees and expenses	1,016,560	264,684
Accounting and administration expenses	168,713	103,985
Registration fees	105,870	84,939
Reports and statements to shareholders expenses	104,812	39,898
Legal fees	99,797	27,880
Trustees’ fees	77,940	14,847
Audit and tax fees	56,178	53,256
Custodian fees	14,740	13,754
Other	71,107	25,669
	7,428,048	2,269,375
Less expenses waived	(1,193,265)	(606,514)
Less expenses paid indirectly	(2,329)	(5,478)
Total operating expenses	6,232,454	1,657,383
Net Investment Income (Loss)	47,399,173	13,847,375

	Nomura Corporate Bond Fund	Nomura Extended Duration Bond Fund
Net Realized and Unrealized Gain (Loss):
Net realized gain (loss) on:
Investments	$1,437,941	$(6,564,077)
Futures contracts	594,152	(19,523)
Options purchased	(591,109)	(170,555)
Options written	113,395	31,853
Net realized gain (loss)	1,554,379	(6,722,302)

Net change in unrealized appreciation (depreciation) on:
Investments	(25,066,198)	(4,158,560)
Futures contracts	(827,819)	(423,937)
Net change in unrealized appreciation (depreciation)	(25,894,017)	(4,582,497)
Net Realized and Unrealized Gain (Loss)	(24,339,638)	(11,304,799)
Net Increase (Decrease) in Net Assets Resulting from Operations	$23,059,535	$2,542,576

	Year ended
	7/31/26	7/31/25
Increase (Decrease) in Net Assets from Operations:
Net investment income (loss)	$47,399,173	$55,858,912
Net realized gain (loss)	1,554,379	(31,627,569) ¹
Net increase from payment by affiliates	—	5,892 ²
Net change in unrealized appreciation (depreciation)	(25,894,017)	24,246,541
Net increase (decrease) in net assets resulting from operations	23,059,535	48,483,776

Dividends and Distributions to Shareholders from:
Distributable earnings:
Class A	(14,468,747)	(16,580,944)
Class C	(248,050)	(348,671)
Class R	(303,915)	(340,738)
Institutional Class	(33,820,794)	(40,889,267)
Class R6	(654,583)	(670,982)
	(49,496,089)	(58,830,602)

Capital Share Transactions (See Note 6):
Proceeds from shares sold:
Class A	26,313,171	27,272,800
Class C	672,480	1,359,295
Class R	783,074	1,517,679
Institutional Class	130,625,090	179,535,269
Class R6	3,017,664	9,237,822

Net asset value of shares issued upon reinvestment of dividends and distributions:
Class A	13,758,445	15,776,749
Class C	211,703	303,777
Class R	303,493	339,994
Institutional Class	17,940,743	24,355,633
Class R6	596,523	438,449
	194,222,386	260,137,467

¹	Excludes net increase from payment by affiliates.
²	See Note 2 in “Notes to financial statements.”

¹	Updated to reflect the effect of a 3 for 1 reverse stock split on September 9, 2022. All historical per share information has been retroactively adjusted to reflect this reverse stock split.
²	Calculated using average shares outstanding.
³	Payment by affiliates is less than $0.005 per share and 0.005% on total return. See Note 2 in "Notes to financial statements."
⁴	Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge. Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.
⁵	Expense ratios do not include expenses of any investment companies in which the Fund invests.

¹	Updated to reflect the effect of a 3 for 1 reverse stock split on September 9, 2022. All historical per share information has been retroactively adjusted to reflect this reverse stock split.
²	Calculated using average shares outstanding.
³	Amount is less than $0.005 per share.
⁴	Payment by affiliates is less than $0.005 per share and 0.005% on total return. See Note 2 in "Notes to financial statements."
⁵	Amount is less than $(0.005) per share.
⁶	Total return is based on the change in net asset value of a share during the period and assumes reinvestment of dividends and distributions at net asset value and does not reflect the impact of a sales charge. Total return during the period presented reflects waivers by the manager and/or distributor (as applicable). Performance would have been lower had the waivers not been in effect.
⁷	Expense ratios do not include expenses of any investment companies in which the Fund invests.

Fund		Custody Credits
Nomura Corporate Bond Fund		$—
Nomura Extended Duration Bond Fund		5,283

Fund		Earnings Credits
Nomura Corporate Bond Fund		$2,329
Nomura Extended Duration Bond Fund		195

	Nomura Corporate Bond Fund	Nomura Extended Duration Bond Fund
On the first $500 million	0.5000%	0.5500%
On the next $500 million	0.4750%	0.5000%
On the next $1.5 billion	0.4500%	0.4500%
In excess of $2.5 billion	0.4250%	0.4250%

Fund Name Prior to December 1, 2025	Fund Name Effective December 1, 2025
Macquarie Corporate Bond Fund	Nomura Corporate Bond Fund
Macquarie Extended Duration Bond Fund	Nomura Extended Duration Bond Fund

Fund	Operating expense limitation as a percentage of average daily net assets all share classes other than Class R6	Operating expense limitation as a percentage of average daily net assets Class R6
Nomura Corporate Bond Fund	0.54%	0.46%*
Nomura Extended Duration Bond Fund	0.56%	0.48%*

	Operating expense limitation as a percentage of average daily net assets
Fund	Class A	Class C	Class R	Institutional Class	Class R6
Nomura Corporate Bond Fund	0.79%	1.54%	1.04%	0.54%	0.46%*
Nomura Extended Duration Bond Fund	0.81%	1.56%	1.06%	0.56%	0.48%**

*	Effective the Closing Date. Prior to the Closing Date, the amount for Nomura Corporate Bond Fund Class R6 was 0.45%.
**	Effective the Closing Date. Prior to the Closing Date, the amount for Nomura Extended Duration Bond Fund Class R6 was 0.46%.

Fund		Fees
Nomura Corporate Bond Fund		$49,729
Nomura Extended Duration Bond Fund		16,679

Fund	Purchases	Sales
Nomura Corporate Bond Fund	$2,158,034,309	$2,307,799,338
Nomura Extended Duration Bond Fund	338,430,419	378,809,473

Fund	Cost of investments and derivatives	Aggregate unrealized appreciation of investments and derivatives	Aggregate unrealized depreciation of investments and derivatives	Net unrealized appreciation (depreciation) of investments and derivatives
Nomura Corporate Bond Fund	$922,040,707	$3,439,023	$(25,960,691)	$(22,521,668)
Nomura Extended Duration Bond Fund	255,174,838	145,371	(16,217,740)	(16,072,369)