Key features
Seeks to provide total return through capital appreciation and current income via global publicly traded real estate securities
Provides diversified exposure to high-quality global real estate securities
A proprietary, bottom-up, fundamental process which considers Quality, Risk and Valuation
Daily pricing
as of
05/26/2023
NAV 1-day net change
0.08
Total net assets
as of
04/30/2023
All share classes
$34.8 million
Overview
Fund identifiers |
NASDAQ |
IRESX |
CUSIP |
465899326 |
Benchmark and peer group
Portfolio
Download top holdings report
Market cap (median) Source: FactSet
$7.2 billion
Market cap (weighted average) Source: FactSet
$27.3 billion
Portfolio turnover (last fiscal year)
88%
International equities & depositary receipts
35.4%
Cash, cash equivalents and other assets
1.6%
Top 10 holdings
as of 04/30/2023
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents. Please see the Fund's complete list of holdings for more information.
Holdings based by issuer.
DIGITAL REALTY TRUST INC
3.45
REALTY INCOME CORPORATION
2.92
INVITATION HOMES INC
2.71
EXTRA SPACE STORAGE INC
2.57
ALEXANDRIA REAL ESTATE EQUITIES INC
2.52
Total % Portfolio in Top 10 holdings - 35.90%
Sector allocation
as of 04/30/2023
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Diversified Real Estate Activities
6.2%
Real Estate Operating Companies
3.6%
Hotel & Resort REITs
1.4%
Real Estate Development
1.0%
Integrated Telecommunication Services
0.9%
Internet Services & Infrastructure
0.3%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).
2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.
3Includes both short- and long-term capital gains.
Management
Investment manager
Delaware Management Company (DMC)
Matthew Hodgkins
-
Head of Americas Listed Real Estate
-
Read bio
Matthew Hodgkins
Head of Americas Listed Real Estate
Matthew Hodgkins [BA (Hons)] is Macquarie’s Head of Americas Listed Real Estate, based in Chicago. Mr Hodgkins joined Macquarie as part of the acquisition of the AMP Capital team. Mr Hodgkins commenced in the investment management industry in 2005 at ABN AMRO in London, including roles in emerging markets and global equities. Prior to joining AMP Capital in 2012, Mr Hodgkins worked at BNP Paribas Asset Management in Singapore as an Asian Property analyst. Mr Hodgkins graduated from the University of Nottingham with a Bachelor of Arts and is an APREA certificate holder.
Sub-advisors
Macquarie Investment Management Global Limited
James Maydew
-
Head of Global Listed Real Estate
-
Read bio
James Maydew
Head of Global Listed Real Estate
James Maydew is Macquarie’s Head of Global Listed Real Estate based in Sydney. Mr Maydew commenced in the real estate industry in 2002 based in London, Mr Maydew has been investing in Global Listed Real Estate markets since 2007, deputy head of the capability since 2013 and global head since November 2016, and is responsible for all aspects of the platform including, team, portfolio, risk management and clients. Mr Maydew joined Macquarie as part of the acquisition of the AMP Capital team and started his career in unlisted real estate before focussing on Listed markets. Mr Maydew holds a Bachelor of Science in Real Estate Investment and Finance from the University of Reading and is a fully accredited member of the Royal Institution of Chartered Surveyors (MRICS).
Macquarie Investment Management Europe Limited
Ryan Watson
-
Head of European Listed Real Estate
-
Read bio
Ryan Watson
Head of European Listed Real Estate
Ryan Watson is Macquarie's Head of European Listed Real Estate, based in London. Mr Watson joined Macquarie as part of the acquisition of the AMP Capital team. Mr Watson began his career in 2009 with the AMP Capital Direct Property Team. Mr Watson transferred to the Global Listed Real Estate team after working with the Direct Property Team for 2 years across Capital Transactions, Retail Asset management and Fund of Fund investing. Mr Watson holds a Bachelor of Applied Finance from Macquarie University.
Macquarie Investment Management Hong Kong Limited
Jessica Koh
-
Head of Asia Listed Real Estate
-
Read bio
Jessica Koh
Head of Asia Listed Real Estate
Jessica Koh is Macquarie's Head of Asian Listed Real Estate, based in Hong Kong. Ms Koh commenced in the investment management industry in 2003, working at Colonial First State Global Asset Management for four years across its listed real estate and wholesale funds management businesses. Ms Koh joined AMP Capital in March 2006 covering Australian REITs based in Sydney, before moving to Singapore and subsequently Hong Kong, covering Asian real estate for over 15 years. Ms Koh holds a Bachelor of Property Economics with honours from the University of Technology, Sydney.
Fees
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 table below. You may quality for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Delaware Funds by Macquarie. 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.”
Shareholder fees |
Maximum sales charge (load) imposed on purchases as a percentage of offering price |
none |
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower |
none |
Annual fund operating expenses |
Management fees |
0.95% |
Distribution and service (12b-1) fees |
none |
Other expenses |
0.41% |
Total annual fund operating expenses |
1.36% |
Fee waivers and expense reimbursements1 |
(0.31%) |
Total annual fund operating expenses after fee waivers and expense reimbursements |
1.05% |
Please see the prospectus and SAI for additional information.
1Net expense ratio reflects a contractual waiver of certain fees/and/or expense reimbursements from July 29, 2022 through July 29, 2023. Please see the fee table in the Fund's prospectus for more information.
Institutional Class shares are available only to certain investors. See the prospectus for more information.
Resources
Fact sheet and commentaries
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Other than Macquarie Bank Limited (MBL), none of the entities noted are authorised deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.
The Funds are distributed by Delaware Distributors, L.P., an affiliate of Macquarie Investment Management Business Trust (MIMBT), Macquarie Management Holdings, Inc., and Macquarie Group Limited. Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group Limited and its subsidiaries and affiliates worldwide.
Separately managed account advisory services are provided by Delaware Capital Management (DCM), a series of MIMBT. Separately managed account advisory services are referred through Delaware Capital Management Advisers, Inc., an SEC-registered investment advisor.