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0000875352 macquarie:Dfebruaryglrapro_2414Member macquarie:S000003937Member macquarie:C000011041Member 2022-12-31 2022-12-31 0000875352 macquarie:Dfebruaryglrapro_2414Member macquarie:S000003937Member macquarie:C000011041Member 2023-12-31 2023-12-31 0000875352 macquarie:Dfebruaryglrapro_2414Member macquarie:S000003937Member macquarie:C000011041Member 2024-12-31 2024-12-31 0000875352 macquarie:Dfebruaryglrapro_2414Member macquarie:S000003937Member macquarie:C000011041Member 2025-12-31 2025-12-31 0000875352 macquarie:Dfebruaryglrapro_2414Member macquarie:S000003937Member oef:RiskLoseMoneyMember 2025-10-31 2025-10-31 iso4217:USD pure 0.0529 0.0099 -0.0778 0.3042 0.0091 0.191 -0.0694 0.0702 -0.0122 0.1803 2025-10-31 false 0000875352 485BPOS N-1A DELAWARE POOLED TRUST 2026-02-27 What is the Fund’s investment objective? <div>Nomura Global Listed Real Assets Fund seeks total return, which is targeted to be in excess of inflation, through growth of capital and current income.</div> What are the Fund’s fees and expenses? <div>The table below describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Nomura Funds (formerly, Macquarie Funds). More information about these and other discounts is available from your financial intermediary, in the Fund’s Prospectus under the section entitled “About your account,” and in the Fund’s statement of additional information (SAI) under the section entitled “Purchasing Shares.”</div> You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Nomura Funds (formerly, Macquarie Funds). 50000 Shareholder fees (fees paid directly from your investment) <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-bottom: #000000 1pt solid; margin-left: 0; margin-top: 10px"> <tr style="height:1px;"> <td style="height: 1px; width: 67%"></td> <td style="height: 1px; width: 6%"></td> <td style="height: 1px; width: 7%"></td> <td style="height: 1px; width: 6%"></td> <td style="height: 1px; width: 6%"></td> <td style="height: 1px; width: 6%"></td> <td style="height: 1px; width: 2%"></td> </tr> <tr> <td style="border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class</div> </td> <td style="padding-left: 4pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">A</div> </td> <td style="padding-left: 4pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">C</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 15pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">R</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 15pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Inst.</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 15pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">R6</div> </td> <td style="border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Maximum sales charge (load) imposed on purchases as a percentage of offering price......................... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.75%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower................................ </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none1</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.00%1</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> </table></div> 0.0575 0 0 0 0 0 0.01 0 0 0 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-bottom: #000000 1pt solid; margin-left: 0; margin-top: 10px"> <tr style="height:1px;"> <td style="height: 1px; width: 53%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 2%"></td> </tr> <tr> <td style="border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class</div> </td> <td style="padding-left: 25pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">A</div> </td> <td style="padding-left: 25pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">C</div> </td> <td style="padding-left: 25pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">R</div> </td> <td style="padding-left: 25pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Inst.</div> </td> <td style="padding-left: 25pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">R6</div> </td> <td style="border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Management fees................................. </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.75%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.75%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.75%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.75%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.75%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Distribution and service (12b-1) fees.................... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.25%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.00%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.50%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">none</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Other expenses................................... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.46%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.46%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.46%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.46%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.36%2</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Acquired fund fees and expenses...................... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.01%3</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.01%3</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.01%3</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.01%3</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.01%3</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Total annual fund operating expenses................... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.47%4</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">2.22%4</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.72%4</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.22%4</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.12%4</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Fee waivers and expense reimbursements............... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">(0.31%)5</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">(0.31%)5</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">(0.31%)5</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">(0.31%)5</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">(0.31%)5</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> <tr> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Total annual fund operating expenses after fee waivers and expense reimbursements........................... </div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.16%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.91%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1.41%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.91%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">0.81%</div> </td> <td style="padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div> </td> </tr> </table></div> 0.0075 0.0075 0.0075 0.0075 0.0075 0.0025 0.01 0.005 0 0 0.0046 0.0046 0.0046 0.0046 0.0036 0.0001 0.0001 0.0001 0.0001 0.0001 0.0147 0.0222 0.0172 0.0122 0.0112 -0.0031 -0.0031 -0.0031 -0.0031 -0.0031 0.0116 0.0191 0.0141 0.0091 0.0081 For Class A shares, a 1% contingent deferred sales charge (CDSC) is only imposed on certain Class A shares that are purchased at net asset value (NAV) for $1 million or more that are subsequently redeemed within 18 months of purchase. For Class C shares, a 1% CDSC applies to redemptions within 12 months of purchase. The Total annual fund operating expenses ratio shown above does not correlate to the expense ratio shown in the Financial Highlights table because that ratio does not include the acquired fund fees and expenses. February 26, 2027 Example <div>This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. In addition, the example shows expenses for Class C shares, assuming those shares were not redeemed at the end of those periods. The example also assumes that your investment has a 5% return each year and reflects the Manager’s expense waivers and reimbursements for the 1-year contractual period and the total operating expenses without waivers for years 2 through 10. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <div> <table cellspacing="0" style="width: 100%; border-bottom: #000000 1pt solid; margin-left: 0; margin-top: 10px"> <tr style="height:1px;"> <td style="height: 1px; width: 46%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> <td style="height: 1px; width: 9%"></td> </tr> <tr> <td style="border-bottom: #000000 1pt solid; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 30pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">A</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 30pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">(if not redeemed) C </div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 30pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">C</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 30pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">R</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 30pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Inst.</div> </td> <td style="border-bottom: #000000 1pt solid; padding-left: 30pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">R6</div> </td> </tr> <tr> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1 year................................ </div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$686</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$194</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$294</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$144</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$93</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$83</div> </td> </tr> <tr> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">3 years............................... </div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$984</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$664</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$664</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$512</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$357</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$325</div> </td> </tr> <tr> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5 years............................... </div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$1,304</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$1,162</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$1,162</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$904</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$641</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$587</div> </td> </tr> <tr> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">10 years............................... </div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$2,206</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$2,530</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$2,530</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$2,004</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$1,450</div> </td> <td style="vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">$1,335</div> </td> </tr> </table></div> (if notredeemed)C 686 194 294 144 93 83 984 664 664 512 357 325 1304 1162 1162 904 641 587 2206 2530 2530 2004 1450 1335 Portfolio turnover <div>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 61% of the average value of its portfolio.</div> 0.61 What are the Fund’s principal investment strategies? <div>The Fund seeks to achieve its investment objective by investing in listed real assets securities, which include the following categories:</div><div> <table cellspacing="0" style="padding-top:2pt;margin-left:0%;" width="100%"> <tr> <td style="color:#000000;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">●</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:2pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">Real Estate Securities (such as real estate investment trusts (REITs), real estate operating companies (REOCs), mortgage-backed securities);</div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:2pt;margin-left:0%;" width="100%"> <tr> <td style="color:#000000;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">●</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:2pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">Infrastructure Securities (including master limited partnerships (MLPs));</div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:2pt;margin-left:0%;" width="100%"> <tr> <td style="color:#000000;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">●</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:2pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">Natural Resources Securities; and</div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:2pt;margin-left:0%;" width="100%"> <tr> <td style="color:#000000;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">●</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:2pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">Inflation-Linked Securities (collectively, “Real Assets Securities”).</div> </td> </tr> </table></div><div>See the section of the Prospectus entitled “Our principal investment strategies” for a description of Real Estate Securities, Infrastructure Securities, Natural Resources Securities, and Inflation-Linked Securities.</div><div>Under normal market conditions, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Real Assets Securities (80% policy). The Fund will invest at least 30% of its net assets in foreign securities, which may include emerging markets issuers. The Fund may purchase both equity and fixed income securities. The Fund may invest in securities of companies or issuers of any size market capitalization.</div><div>The Fund will allocate strategy assets across multiple sleeves that will invest in liquid, listed real assets securities that are both tangible and intangible. Sleeves include global listed infrastructure which consists of listed infrastructure equity securities, global real estate which consists of listed real estate securities including REITs, global natural resources which consists of listed natural resource equity securities, global inflation-linked fixed income which consists of Treasury inflation-protected securities (TIPS) and developed market inflation-linked fixed income securities, and real assets fixed income which consist of high yield and securitized fixed income securities.</div><div>The Fund invests in natural resources including precious metals, among other resources. In addition to derivatives, the Fund may gain exposure to precious metals through equity securities of precious metals companies as well as exchange-traded funds (ETFs).</div><div>The Fund may invest in commercial mortgage-backed securities, non-agency residential mortgages, and select asset-backed securities. Such securities and mortgages are anticipated to be investment grade.</div><div>Within the fixed income securities in which the Fund invests, the structured products will typically have an average credit rating of BBB-. The Fund may invest in investment grade and high yield (junk) corporate bonds.</div><div>The Fund may employ leverage, such as by entering into reverse repurchase transactions, to attempt to take advantage of or increase the total return of attractive investment opportunities.</div><div>The Fund may invest in securities of foreign companies or governments or supranational entities to achieve its investment objectives.</div><div>The Fund will invest no more than 15% of the portfolio’s holdings in MLPs. The MLPs in which the Fund invests will not include general partnership interests.</div><div>The Manager uses a dynamic asset-allocation framework to determine the proportion of the Fund’s assets that will be allocated to the various asset classes noted above, based on the market assessment and portfolio risk contribution for such asset classes. The framework is intended to reduce riskier assets in times of market volatility and provide additional downside protection. In connection with this dynamic asset-allocation framework, the </div><div>Manager will also manage a tactical / completion sleeve and such sleeve will typically vary from 0% to 20% of the Fund’s total assets and primarily hold derivatives and ETFs. If applicable, the derivatives and ETFs within the tactical / completion sleeve will also be counted towards the asset classes noted above.</div><div>The Fund may use a wide range of derivatives instruments, typically including forward foreign currency contracts, options, futures contracts, options on futures contracts, and credit default swaps. The Fund will use derivatives for both hedging and non-hedging purposes; as a substitute for purchasing or selling securities; and to manage the Fund’s portfolio characteristics. For example, the Fund may invest in: futures and options to manage duration and for defensive purposes, such as to protect gains or hedge against potential losses in the portfolio without actually selling a security, or to stay fully invested; forward foreign currency contracts to manage foreign currency exposure; and credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return.</div><div>In addition, the Manager may seek investment advice and recommendations and implement model portfolio information from Van Eck Associates Corporation (VanEck) for natural resources securities.</div><div>The Fund’s 80% policy is nonfundamental and may be changed without shareholder approval. However, Fund shareholders would be given at least 60 days’ notice prior to any such change.</div> Under normal market conditions, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Real Assets Securities (80% policy). The Fund will invest at least 30% of its net assets in foreign securities, which may include emerging markets issuers. The Fund may purchase both equity and fixed income securities. The Fund may invest in securities of companies or issuers of any size market capitalization. Investing in any mutual fund involves the risk that you may lose part or all of the money you invest. Over time, the value of your investment in the Fund will increase and decrease according to changes in the value of the securities in the Fund’s portfolio. An investment in the Fund may not be appropriate for all investors. <div>Market risk — The risk that all or a majority of the securities in a certain market — such as the stock or bond market — will decline in value because of factors such as adverse political or economic conditions, future expectations, investor confidence, or heavy institutional selling.</div> <div>Real assets industries risk — The risk that the value of a fund’s shares will be affected by factors particular to real assets securities and related industries or sectors (such as government regulation) and may fluctuate more widely than that of a fund that invests in a broad range of industries.</div> <div>Real estate industry risk — This risk includes, among others: possible declines in the value of real estate; risks related to general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the cleanup of, and liability to third parties resulting from, environmental problems; casualty for condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.</div> <div>Commodity-related investments risk — The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, which may include weather, embargoes, tariffs, and economic health, political, international regulatory and other developments. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. The investment team does not plan to always implement exposure to commodities in the Fund, however they will consider holding commodity exchange traded funds in market scenarios where inflation is running higher than normal and their asset allocation model signals for additional commodity exposure. In addition, the Fund may use futures and options on commodities for a variety of purposes such as hedging against adverse changes in the market prices of securities, as a substitute for purchasing or selling securities, to increase the Fund’s return as a non-hedging strategy that may be considered speculative and to manage the Fund’s portfolio characteristics.</div> <div>Currency risk — The risk that fluctuations in exchange rates between the US dollar and foreign currencies and between various foreign currencies may cause the value of an investment to decline.</div> <div>Forward foreign currency risk — The use of forward foreign currency contracts may substantially change a fund’s exposure to currency exchange rates and could result in losses to a fund if currencies do not perform as the portfolio manager expects. The use of these investments as a hedging technique to reduce a fund’s exposure to currency risks may also reduce its ability to benefit from favorable changes in currency exchange rates.</div> <div>Gold and other precious metals risk — Investments related to gold and other precious metals are considered speculative and are affected by a variety of worldwide economic, financial and political factors. The price of gold and other precious metals may fluctuate sharply over short periods of time due to changes in inflation or expectations regarding inflation in various countries, the availability of supplies of gold and other precious metals, changes in industrial and commercial demand, gold and other precious metals sales by governments, central banks or international agencies, investment speculation, monetary and other economic policies of various governments and government restrictions on private ownership of gold and other precious metals.</div> <div>Infrastructure risk — Infrastructure companies may be subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental and other regulations, the effects of economic slowdown, surplus capacity, increased competition from other providers of services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors. Some of the specific risks that infrastructure companies may be particularly affected by, or subject to, include the following: regulatory risk, technology risk, regional or geographic risk, natural disasters risk, through-put risk, project risk, strategic asset risk, operation risk, customer risk, interest rate risk, inflation risk and financing risk. Other factors that may affect the operations of infrastructure companies include difficulty in raising capital in adequate amounts on reasonable terms in periods of high inflation and unsettled capital markets, inexperience with and potential losses resulting from a developing deregulatory environment, increased susceptibility to terrorist acts or political actions, and general changes in market sentiment towards infrastructure assets. In addition, the change in presidential administration could significantly impact the regulation of United States financial markets and dramatically alter existing trade, tax, energy and infrastructure policies, among others. It is not possible to predict what, if any, changes will be made or their potential effect on the economy, securities markets, or financial stability of the United States, or on the energy, natural resources, infrastructure and other markets.</div> <div>Derivatives risk — Derivatives contracts, such as futures, forward foreign currency contracts, options, and swaps, may involve additional expenses (such as the payment of premiums) and are subject to significant loss if a security, index, reference rate, or other asset or market factor to which a derivatives contract is associated, moves in an unanticipated direction. When used for hedging, the change in value of the derivatives instrument may also not correlate specifically with the currency, rate, or other risk being hedged, in which case a fund may not realize the intended benefits. Derivatives contracts are also subject to the risk that the counterparty may fail to perform its obligations under the contract due to, among other reasons, financial difficulties (such as a bankruptcy or reorganization).</div> <div>Exchange-traded fund risk — The risks of investing in an ETF typically reflect the risks of the instruments in which the ETF invests. Because ETFs are investment companies, a fund will bear its proportionate share of the fees and expenses of an investment in an ETF. As a result, a fund’s expenses may be higher and performance may be lower.</div> <div>Interest rate risk — The risk that securities will decrease in value if interest rates rise. The risk is generally associated with bonds; however, because small- and medium-sized companies and companies in the real estate sector often borrow money to finance their operations, they may be adversely affected by rising interest rates. A fund may be subject to a greater risk of rising interest rates when interest rates are low or inflation rates are high or rising.</div> <div>Foreign and emerging markets risk — The risk that investments in foreign securities (particularly those of issuers in emerging markets) may be adversely affected by political instability; changes in currency exchange rates; inefficient markets and higher transaction costs; foreign economic conditions; the imposition of economic or trade sanctions; or inadequate or different regulatory and accounting standards. Securities of issuers in emerging markets may be subject to greater risks than securities of issuers in more developed foreign markets because, among other things, emerging markets may have less stable political and economic environments. In addition, there often is substantially less publicly available information about issuers and such information tends to be of a lesser quality. Economic markets and structures tend to be less mature and diverse and the securities markets may also be smaller, less liquid, and subject to greater price volatility.</div> <div>Foreign government/supranational risk — The risk that a foreign government or government-related issuer may be unable to make timely payments on its external debt obligations.</div> <div>Prepayment risk — The risk that the principal on a bond that is held by a fund will be prepaid prior to maturity at a time when interest rates are lower than what that bond was paying. A fund may then have to reinvest that money at a lower interest rate.</div> <div>Liquidity risk — The possibility that investments cannot be readily sold within seven calendar days at approximately the price at which a fund has valued them.</div> <div>Government and regulatory risk — The risk that governments or regulatory authorities may take actions that could adversely affect various sectors of the securities markets and affect fund performance.</div> <div>Company size risk — The risk that investments in small- and/or medium-sized companies may be more volatile than those of larger companies because of limited financial resources or dependence on narrow product lines.</div> <div>Credit risk — The risk that an issuer of a debt security, including a governmental issuer or an entity that insures a bond, may be unable to make interest payments and/or repay principal in a timely manner.</div> <div>High yield (junk) bond risk — The risk that high yield securities, commonly known as “junk bonds,” are subject to reduced creditworthiness of issuers, increased risk of default, and a more limited and less liquid secondary market. High yield securities may also be subject to greater price volatility and risk of loss of income and principal than are higher-rated securities.</div> <div>Leveraging risk — The risk that certain fund transactions, such as reverse repurchase agreements, short sales, loans of portfolio securities, and the use of when-issued, delayed delivery or forward commitment transactions, or derivatives instruments, may give rise to leverage, causing a fund to be more volatile than if it had not been leveraged, which may result in increased losses to the fund.</div> <div>Natural resources risk — The market value of Natural Resources Securities may be affected by numerous factors, including events occurring in nature, inflationary pressures and international politics. Because the Fund invests significantly in Natural Resources Securities, there is the risk that the Fund will perform poorly during a downturn in the natural resource sector. For example, events occurring in nature (such as earthquakes or fires in prime natural resource areas) and political events (such as coups, military confrontations or acts of terrorism) can affect the overall supply of a natural resource and the value of companies involved in such natural resource.</div> <div>MLP risk — The risk related to the Fund’s investment in MLPs. Energy infrastructure MLPs are subject to a variety of industry specific risk factors that may adversely affect their business or operations, including those due to commodity production, volumes, commodity prices, weather conditions, terrorist attacks, etc. They are also subject to significant federal, state and local government regulation. Investment in MLPs may also have tax consequences for shareholders. If the Fund retains its investment until its basis is reduced to zero, subsequent distributions will be taxable at ordinary income rates and shareholders may receive corrected 1099s.</div> <div>Active trading risk — The risk that active management will increase the expenses of the Fund because of brokerage charges, spreads, or mark-up charges. Active trading could raise transaction costs, thereby lowering the Fund’s returns, and could generate taxes for shareholders on realized investment gains.</div> <div>Active management and selection risk — The risk that the securities selected by a fund’s management will underperform the markets, the relevant indices, or the securities selected by other funds with similar investment objectives and investment strategies. The securities and sectors selected may vary from the securities and sectors included in the relevant index.</div> How has Nomura Global Listed Real Assets Fund performed? <div>The bar chart and table below provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year and the table shows how the Fund’s average annual total returns for the 1-, 5-, and 10-year or lifetime periods compare with those of a broad measure of market performance and additional indices with characteristics relevant to the Fund.</div><div>Prior to the close of business on August 19, 2019, the Fund invested primarily in securities of companies principally engaged in the real estate industry. Since the close of business on August 19, 2019, the Fund has been repositioned to invest primarily in listed real assets securities (Repositioning). The historical returns prior to that time do not reflect the Repositioning.</div><div>The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The returns reflect any expense caps in effect during these periods. The returns would be lower without the expense caps. You may obtain the Fund’s most recently available month-end performance by calling 800-523-1918 or by visiting our website at nomuraassetmanagement.com/performance.</div> The bar chart and table below provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year and the table shows how the Fund’s average annual total returns for the 1-, 5-, and 10-year or lifetime periods compare with those of a broad measure of market performance and additional indices with characteristics relevant to the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 800-523-1918 nomuraassetmanagement.com/performance Calendar year-by-year total return (Class A) <div><img alt="image" src="pr2414img002.jpg"/></div> <div>During the periods illustrated in this bar chart, Class A’s highest quarterly return was 15.17% for the quarter ended March 31, 2019, and its lowest quarterly return was -21.27% for the quarter ended March 31, 2020. The maximum Class A sales charge of 5.75%, which is normally deducted when you purchase shares, is not reflected in the highest/lowest quarterly returns or in the bar chart. If this fee were included, the returns would be less than those shown. The average annual total returns in the table below do include the sales charge.</div> highest quarterly return 0.1517 2019-03-31 lowest quarterly return -0.2127 2020-03-31 Average annual total returns for periods ended December 31, 2025 <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-bottom: #000000 1pt solid; margin-left: 0; margin-top: 10px"> <tr style="height:1px;"> <td style="padding-right: 10pt; height: 1px; width: 70%"></td> <td style="padding-right: 10pt; height: 1px; width: 10%"></td> <td style="padding-right: 10pt; height: 1px; width: 10%"></td> <td style="padding-right: 10pt; height: 1px; width: 10%"></td> </tr> <tr> <td style="padding-right: 10pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div> </td> <td style="padding-left: 10pt; padding-right: 0pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">1 year</div> </td> <td style="padding-left: 10pt; padding-right: 0pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5 years</div> </td> <td style="padding-left: 10pt; padding-right: 0pt; border-bottom: #000000 1pt solid; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">10 years or lifetime</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class A return before taxes................................................. </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">11.28%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.44%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.34%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class A return after taxes on distributions....................................... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">10.49%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">3.91%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">3.60%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class A return after taxes on distributions and sale of Fund shares..................... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">6.75%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">3.79%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">3.62%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class C return before taxes................................................. </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">16.15%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.91%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.17%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class R return before taxes................................................. </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">17.76%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">6.43%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.70%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Class R6 return before taxes (lifetime: 8/31/16–12/31/25)............................ </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">18.43%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">7.07%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">5.66%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Institutional Class return before taxes.......................................... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">18.29%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">6.97%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">6.23%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">MSCI ACWI (All Country World Index) (gross) (reflects no deduction for fees, expenses, or taxes)............................................................... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">22.87%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">11.70%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">12.28%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">MSCI ACWI (All Country World Index) (net) (reflects no deduction for fees or expenses)...... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">22.34%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">11.19%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">11.72%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD (reflects no deduction for fees, expenses, or taxes)............................................... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">4.46%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">-1.10%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">2.51%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">S&P Global Infrastructure Index (net) (reflects no deduction for fees or expenses)........... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">21.54%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">10.02%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">8.47%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">FTSE EPRA Nareit Developed Index (net) (reflects no deduction for fees or expenses)....... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">9.58%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">2.76%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">3.25%</div> </td> </tr> <tr> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">S&P Global Natural Resources Index (net) (reflects no deduction for fees or expenses)....... </div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">28.86%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">10.60%</div> </td> <td style="padding-right: 10pt; padding-bottom: 2pt; vertical-align: bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;">10.38%</div> </td> </tr> </table></div> 0.1128 0.0544 0.0534 0.1049 0.0391 0.036 0.0675 0.0379 0.0362 0.1615 0.0591 0.0517 0.1776 0.0643 0.057 2016-08-31 0.1843 0.0707 0.0566 0.1829 0.0697 0.0623 (reflects no deduction for fees, expenses, or taxes)(reflects no deduction for fees or expenses)(reflects no deduction for fees, expenses, or taxes)(reflects no deduction for fees or expenses)(reflects no deduction for fees or expenses)(reflects no deduction for fees or expenses) 0.2287 0.117 0.1228 0.2234 0.1119 0.1172 0.0446 -0.011 0.0251 0.2154 0.1002 0.0847 0.0958 0.0276 0.0325 0.2886 0.106 0.1038 <div>After-tax performance is presented only for Class A shares of the Fund. The after-tax returns for other Fund classes may vary. Actual after-tax returns depend on the investor’s individual tax situation and may differ from the returns shown. After-tax returns are not relevant for shares held in tax-advantaged investment vehicles such as employer-sponsored 401(k) plans and individual retirement accounts (IRAs). The after-tax returns shown are calculated using the highest individual federal marginal income tax rates in effect during the periods presented and do not reflect the impact of state and local taxes.</div> After-tax performance is presented only for Class A shares of the Fund. The after-tax returns for other Fund classes may vary. After-tax returns are not relevant for shares held in tax-advantaged investment vehicles such as employer-sponsored 401(k) plans and individual retirement accounts (IRAs). The after-tax returns shown are calculated using the highest individual federal marginal income tax rates in effect during the periods presented and do not reflect the impact of state and local taxes. 1For Class A shares, a 1% contingent deferred sales charge (CDSC) is only imposed on certain Class A shares that are purchased at net asset value (NAV) for $1 million or more that are subsequently redeemed within 18 months of purchase. For Class C shares, a 1% CDSC applies to redemptions within 12 months of purchase. 2“Other expenses” account for Class R6 shares not being subject to certain expenses as described further in the section of this Prospectus entitled “Choosing a share class.” 3Acquired fund fees and expenses sets forth the Fund’s pro rata portion of the cumulative expenses charged by the registered investment companies in which the Fund invested during the last fiscal year. The actual acquired fund fees and expenses will vary with changes in the allocations of the Fund’s assets. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund’s NAV. 4The Total annual fund operating expenses ratio shown above does not correlate to the expense ratio shown in the Financial Highlights table because that ratio does not include the acquired fund fees and expenses. 5The Fund’s investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.90% of the Fund’s average daily net assets for all share classes other than Class R6, and 0.80% of the Fund’s Class R6 shares’ average daily net assets, from February 27, 2026 through February 26, 2027. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.