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Rating:Delaware Debuts a New Fund Under the Macquarie Banner Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 26, 2010

Delaware Debuts a New Fund Under the Macquarie Banner

Reported by Patricia Kelly

With the ink finally dry on the deal handing Philadelphia-based Delaware Investments over to its new Australian owner, the Macquarie Group, the asset manager wasted no time in launching a mutual fund under the new entity's banner.

On Monday, the Delaware Macquarie Global Infrastructure Fund was unveiled, offering an actively managed U.S. fund open to both individual and institutional investors. The new fund seeks to realize long-term capital appreciation and current income by investing at least 80 percent (under normal circumstances)of its net assets, including borrowings for investment purposes, in securities issued by U.S. and non-U.S. companies that are primarily involved in the infrastructure industry. The fund includes Class A (DMGAX), Class C (DMGCX), Class R (DMGRX), and Class I (DMGIX) shares. Class A shares are offered at 958 basis points, Class C shares for 1033 bps, and Class R shares for 983 bps.

The global infrastructure fund will be sub-advised by Macquarie Capital Investment Management LLC (MCIM) and managed by Andrew Maple-Brown, portfolio manager and senior vice president of the Macquarie Funds Group.

“Global infrastructure is a compelling, long-term investment opportunity that offers investors the potential for capital growth, diversification, and stable, inflation-linked income,” Maple-Brown stated.

As previously reported by The MFWire, the $451.8 million merger between Delaware Investments and the Macquarie Group was announced as early as August of last year, but the deal was only fully completed on January 4 2010. In the wake of the integration however, both company's monikers were to be integrated, with the asset manager henceforward branded as “Delaware Investments, a member of Macquarie Group.”

“Combining the expertise of Macquarie and Delaware is very exciting for our mutual fund platform,” stated J. Scott Coleman, executive vice president and head of distribution and marketing as Delaware Investments.

“We have terrific sales momentum coming into this year,” Coleman added. “We are eager to present our retail clients with a variety of solutions –- whether we are providing the more traditional long-only products that Delaware has offered previously or by identifying ways to make the additional offerings from our Macquarie colleagues available to our Delaware clients.” 

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