Key features
The fund invests in global all capitalization natural resources companies
The fund managers combine a strong value-oriented bottom-up research on company fundamentals with a top-down global macro-economic analysis
Natural resource equities typically provide leverage to global growth and inflation protection with relatively low correlations to broader equity markets
Daily pricing
as of
06/05/2023
NAV 1-day net change
-0.16
Total net assets
as of
04/30/2023
All share classes
$254.6 million
Overview
| Fund identifiers |
| NASDAQ |
IGNIX |
| CUSIP |
465899508 |
Benchmark and peer group
Portfolio
Market cap (median) Source: FactSet
$6.3 billion
Market cap (weighted average) Source: FactSet
$33.2 billion
Portfolio turnover (last fiscal year)
116%
International equities & depositary receipts
33.3%
Cash, cash equivalents and other assets
1.4%
Top 10 holdings
as of 05/31/2023
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents. Please see the Fund's complete list of holdings for more information.
Holdings based by issuer.
WHEATON PRECIOUS METALS CORP
4.67
DENBURY RESOURCES INC
3.96
CF INDUSTRIES HOLDINGS INC
3.83
VALERO ENERGY CORPORATION
3.64
WEYERHAEUSER COMPANY
3.62
KIMBELL ROYALTY PARTNERS LP
3.37
OCCIDENTAL PETROLEUM CORPORATION
3.14
Total % Portfolio in Top 10 holdings - 38.88%
Sector allocation
as of 05/31/2023
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Oil & Gas Exploration & Production
16.2%
Integrated Oil & Gas
13.7%
Agricultural Products
8.2%
Fertilizers & Agricultural Chemicals
6.5%
Diversified Metals & Mining
5.0%
Oil & Gas Refining & Marketing
3.6%
Construction & Engineering
3.4%
Oil & Gas Equipment & Services
2.8%
Asset Management & Custody Banks
2.5%
Electrical Components & Equipment
2.1%
Environmental & Facilities Services
1.1%
Heavy Electrical Equipment
1.1%
Diversified Capital Markets
0.6%
Auto Parts & Equipment
0.6%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ 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
Sam Halpert
-
Managing Director, Chief Investment Officer — Global Natural Resources Equity
-
Start date on the Fund:
November 2021
-
Years of industry experience:
29
-
Read bio
Sam Halpert
Managing Director, Chief Investment Officer — Global Natural Resources Equity
Sam Halpert leads the firm’s Global Natural Resources Equity team. Prior to joining Macquarie Investment Management (MIM) in July 2018, he worked at Van Eck, where he was a co-portfolio manager and senior analyst on its global hard assets long-only and long-short team from April 2000 to June 2018. He specialized in agriculture, coal, paper and forest products, refining, shipping, and steel investments. He also managed a global real estate fund at Van Eck earlier in his career. Prior to that, he worked at Goldman Sachs, which ultimately became Citi Group, and he worked at Refco. He earned a bachelor’s degree in English and American literature from Harvard College.
Geoffrey King, CFA
-
Senior Vice President, Portfolio Manager — Global Natural Resources Equity
-
Start date on the Fund:
November 2021
-
Years of industry experience:
19
-
Read bio
Geoffrey King
Senior Vice President, Portfolio Manager — Global Natural Resources Equity
Geoffrey King is a Portfolio Manager on the firm’s Global Natural Resources Equity team. Prior to joining Macquarie Investment Management (MIM) in July 2018, he worked at Abraxas Petroleum where he was vice president and chief financial officer for approximately six years, responsible for strategy, business development, financial planning, analysis, and hedging. For the five years before that, King was a senior energy analyst at Van Eck, where he was focused on natural resource commodities and equities. He holds bachelor’s degrees in both economics and history from Davidson College.
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 |
0.85% |
| Distribution and service (12b-1) fees |
none |
| Other expenses2 |
0.37% |
| Total annual fund operating expenses |
1.22% |
| Fee waivers and expense reimbursements1 |
(0.14%) |
| Total annual fund operating expenses after fee waivers and expense reimbursements |
1.08% |
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.
2Other expenses contain a 0.01% acquired fund fees and expenses. Acquired Fund Fees and Expenses sets forth the Fund's pro rata portion of the cumulative expenses charged by the registered investment companies (RICs) 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. The Acquired Fund Fees and Expenses shown are based on the total expense ratio of the RICs for the RICs' most recent fiscal period. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's NAV.
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.