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14971.39 10204.79309 9911.55 10000 20656.41452 12713.05546 19013.6941 29207.80345 18683.20413 11289.17755 11393.53018 0000875352 false N-1A DELAWARE POOLED TRUST N-CSR 2025-10-31 Nomura Global Listed Real Assets Fund(formerly, Macquarie Global Listed Real Assets Fund) Class A DPREX This annual shareholder report contains important information about Nomura Global Listed Real Assets Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">November 1, 2024,</span> to October 31, 2025. annual shareholder report You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period except as otherwise noted in the Material Fund changes section.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class A</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>125</td> <td style="break-inside: avoid-page; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.18<span>%</span></td> </tr> </table> 125 0.0118 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Performance highlights</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Nomura Global Listed Real Assets Fund (Class A) returned 11.13% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">October 31, 2025.</span> During the same period, the MSCI ACWI (All Country World Index) Index (net) and MSCI ACWI Index (gross), the Fund's broad-based securities market index, returned 22.64% and 23.19%, respectively, while the Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD, the Fund's narrowly based securities market index, returned 3.49%.</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top contributors to performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Equities and credit-sensitive fixed income generally rallied over the fiscal year, supported by stabilizing inflation expectations and a broad trend of monetary easing by central banks globally.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Real asset equities and real asset credit generally drove outperformance relative to inflation-linked bonds as the momentum behind strong corporate earnings and falling yields helped propel risk assets forward.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Relative to the Fund's narrowly based index:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset equities, including infrastructure, natural resources, and real estate</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset credit</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top detractors from performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to real estate underperformed the Fund’s broad-based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to inflation-linked fixed income underperformed the Fund’s narrowly based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Security selection within inflation-linked fixed income slightly detracted.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Within sectors, paper and forest products as well as containers and packaging detracted.</div> <div style="break-before: always; margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in multiple <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market indices and multiple narrowly based securities market indices for the same period and the deduction of the maximum applicable sales charge for Class A shares.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">For the period October 31, 2015, through October 31, 2025</div> <div style="margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g81794g51q66.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; border-bottom-color: rgb(0, 0, 0); height: auto;"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 0 3pt 0;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>October 31, 2025</strong>)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class A) – including sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">4.74</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.38</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.22</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class A) – excluding sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.13</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.66</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.85</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">22.64</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.31</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (gross)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">23.19</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">15.14</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.87</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">-0.71</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">2.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Infrastructure Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">16.99</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.81</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.43</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">FTSE EPRA Nareit Developed Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.02</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Natural Resources Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.58</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.16</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Global Listed Real Assets Fund (Class A) – including sales charge 0.0474 0.0738 0.0522 Nomura Global Listed Real Assets Fund (Class A) – excluding sales charge 0.1113 0.0866 0.0585 MSCI ACWI Index (net) 0.2264 0.1461 0.1131 MSCI ACWI Index (gross) 0.2319 0.1514 0.1187 Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD 0.0349 -0.0071 0.0242 S&P Global Infrastructure Index (net) 0.1699 0.1281 0.0743 FTSE EPRA Nareit Developed Index (net) 0.0342 0.0589 0.0302 S&P Global Natural Resources Index (net) 0.1058 0.1416 0.0861 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of October 31, 2025)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>108,493,445</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">257</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>510,846</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">61<span>%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 10pt;"> <tr style="border-bottom-width: 0px; border-bottom-style: initial; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; margin-bottom: 0; font-weight: normal; font-family: 'Arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); width: 1%; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; margin-bottom: 0; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 108493445 257 510846 0.61 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of October 31, 2025)</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Portfolio composition</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Common Stocks</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">64.64<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">US Treasury Obligations</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.06<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Corporate Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.91<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Sovereign Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.77<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Exchange-Traded Fund</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.74<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Loan Agreements</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">1.01<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.79<span>%</span></td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.6464 0.1106 0.0891 0.0877 0.0274 0.0101 0.0079 <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.0170 0.0144 0.0133 0.0127 0.0117 0.0110 0.0104 0.0097 0.0092 0.0090 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective October 1, 2025, Van Eck Associates Corporation, located at 666 Third Avenue, New York, NY, 10017 ("Van Eck"), became an additional sub-adviser to the Fund. There were no changes to the Fund’s investment objective in connection with this addition. On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class A shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class A shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> 2025-02-27 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. 2025-09-09 Nomura Global Listed Real Assets Fund Class C DPRCX This annual shareholder report contains important information about Nomura Global Listed Real Assets Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">November 1, 2024,</span> to October 31, 2025. annual shareholder report You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period except as otherwise noted in the Material Fund changes section.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class C</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>203</td> <td style="break-inside: avoid-page; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.93<span>%</span></td> </tr> </table> 203 0.0193 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Performance highlights</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Nomura Global Listed Real Assets Fund (Class C) returned 10.31% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">October 31, 2025.</span> During the same period, the MSCI ACWI (All Country World Index) Index (net) and MSCI ACWI Index (gross), the Fund's broad-based securities market index, returned 22.64% and 23.19%, respectively, while the Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD, the Fund's narrowly based securities market index, returned 3.49%.</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top contributors to performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Equities and credit-sensitive fixed income generally rallied over the fiscal year, supported by stabilizing inflation expectations and a broad trend of monetary easing by central banks globally.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Real asset equities and real asset credit generally drove outperformance relative to inflation-linked bonds as the momentum behind strong corporate earnings and falling yields helped propel risk assets forward.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Relative to the Fund's narrowly based index:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset equities, including infrastructure, natural resources, and real estate</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset credit</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top detractors from performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to real estate underperformed the Fund’s broad-based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to inflation-linked fixed income underperformed the Fund’s narrowly based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Security selection within inflation-linked fixed income slightly detracted.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Within sectors, paper and forest products as well as containers and packaging detracted.</div> <div style="break-before: always; margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in multiple <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market indices and multiple narrowly based securities market indices for the same period.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">For the period October 31, 2015, through October 31, 2025</div> <div style="margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g81794g04r01.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; border-bottom-color: rgb(0, 0, 0); height: auto;"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 0 3pt 0;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>October 31, 2025</strong>)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class C) – including sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">9.31</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.85</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.06</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class C) – excluding sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.31</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.85</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.06</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">22.64</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.31</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (gross)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">23.19</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">15.14</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.87</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">-0.71</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">2.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Infrastructure Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">16.99</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.81</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.43</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">FTSE EPRA Nareit Developed Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.02</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Natural Resources Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.58</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.16</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Global Listed Real Assets Fund (Class C) – including sales charge 0.0931 0.0785 0.0506 Nomura Global Listed Real Assets Fund (Class C) – excluding sales charge 0.1031 0.0785 0.0506 MSCI ACWI Index (net) 0.2264 0.1461 0.1131 MSCI ACWI Index (gross) 0.2319 0.1514 0.1187 Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD 0.0349 -0.0071 0.0242 S&P Global Infrastructure Index (net) 0.1699 0.1281 0.0743 FTSE EPRA Nareit Developed Index (net) 0.0342 0.0589 0.0302 S&P Global Natural Resources Index (net) 0.1058 0.1416 0.0861 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of October 31, 2025)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>108,493,445</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">257</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>510,846</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">61<span>%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 10pt;"> <tr style="border-bottom-width: 0px; border-bottom-style: initial; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; margin-bottom: 0; font-weight: normal; font-family: 'Arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); width: 1%; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; margin-bottom: 0; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 108493445 257 510846 0.61 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of October 31, 2025)</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Portfolio composition</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Common Stocks</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">64.64<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">US Treasury Obligations</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.06<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Corporate Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.91<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Sovereign Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.77<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Exchange-Traded Fund</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.74<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Loan Agreements</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">1.01<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.79<span>%</span></td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.6464 0.1106 0.0891 0.0877 0.0274 0.0101 0.0079 <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.0170 0.0144 0.0133 0.0127 0.0117 0.0110 0.0104 0.0097 0.0092 0.0090 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective October 1, 2025, Van Eck Associates Corporation, located at 666 Third Avenue, New York, NY, 10017 ("Van Eck"), became an additional sub-adviser to the Fund. There were no changes to the Fund’s investment objective in connection with this addition. On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class C shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class C shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> 2025-02-27 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. 2025-09-09 Nomura Global Listed Real Assets Fund(formerly, Macquarie Global Listed Real Assets Fund) Class R DPRRX This annual shareholder report contains important information about Nomura Global Listed Real Assets Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">November 1, 2024,</span> to October 31, 2025. annual shareholder report You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. nomuraassetmanagement.com/literature 800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period except as otherwise noted in the Material Fund changes section.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>151</td> <td style="break-inside: avoid-page; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">1.43<span>%</span></td> </tr> </table> 151 0.0143 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Performance highlights</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Nomura Global Listed Real Assets Fund (Class R) returned 10.89% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">October 31, 2025.</span> During the same period, the MSCI ACWI (All Country World Index) Index (net) and MSCI ACWI Index (gross), the Fund's broad-based securities market index, returned 22.64% and 23.19%, respectively, while the Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD, the Fund's narrowly based securities market index, returned 3.49%.</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top contributors to performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Equities and credit-sensitive fixed income generally rallied over the fiscal year, supported by stabilizing inflation expectations and a broad trend of monetary easing by central banks globally.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Real asset equities and real asset credit generally drove outperformance relative to inflation-linked bonds as the momentum behind strong corporate earnings and falling yields helped propel risk assets forward.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Relative to the Fund's narrowly based index:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset equities, including infrastructure, natural resources, and real estate</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset credit</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top detractors from performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to real estate underperformed the Fund’s broad-based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to inflation-linked fixed income underperformed the Fund’s narrowly based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Security selection within inflation-linked fixed income slightly detracted.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Within sectors, paper and forest products as well as containers and packaging detracted.</div> <div style="break-before: always; margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in multiple <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market indices and multiple narrowly based securities market indices for the same period.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">For the period October 31, 2015, through October 31, 2025</div> <div style="margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g81794g14s16.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; border-bottom-color: rgb(0, 0, 0); height: auto;"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 0 3pt 0;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>October 31, 2025</strong>)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class R) – including sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.41</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.59</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class R) – excluding sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.41</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.59</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">22.64</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.31</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (gross)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">23.19</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">15.14</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.87</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">-0.71</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">2.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Infrastructure Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">16.99</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.81</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.43</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">FTSE EPRA Nareit Developed Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.02</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Natural Resources Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.58</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.16</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Global Listed Real Assets Fund (Class R) – including sales charge 0.1089 0.0841 0.0559 Nomura Global Listed Real Assets Fund (Class R) – excluding sales charge 0.1089 0.0841 0.0559 MSCI ACWI Index (net) 0.2264 0.1461 0.1131 MSCI ACWI Index (gross) 0.2319 0.1514 0.1187 Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD 0.0349 -0.0071 0.0242 S&P Global Infrastructure Index (net) 0.1699 0.1281 0.0743 FTSE EPRA Nareit Developed Index (net) 0.0342 0.0589 0.0302 S&P Global Natural Resources Index (net) 0.1058 0.1416 0.0861 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of October 31, 2025)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>108,493,445</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">257</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>510,846</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">61<span>%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 10pt;"> <tr style="border-bottom-width: 0px; border-bottom-style: initial; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; margin-bottom: 0; font-weight: normal; font-family: 'Arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); width: 1%; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; margin-bottom: 0; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 108493445 257 510846 0.61 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of October 31, 2025)</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Portfolio composition</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Common Stocks</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">64.64<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">US Treasury Obligations</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.06<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Corporate Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.91<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Sovereign Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.77<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Exchange-Traded Fund</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.74<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Loan Agreements</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">1.01<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.79<span>%</span></td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.6464 0.1106 0.0891 0.0877 0.0274 0.0101 0.0079 <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.0170 0.0144 0.0133 0.0127 0.0117 0.0110 0.0104 0.0097 0.0092 0.0090 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective October 1, 2025, Van Eck Associates Corporation, located at 666 Third Avenue, New York, NY, 10017 ("Van Eck"), became an additional sub-adviser to the Fund. There were no changes to the Fund’s investment objective in connection with this addition. On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class R shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class R shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> 2025-02-27 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. 2025-09-09 Nomura Global Listed Real Assets Fund(formerly, Macquarie Global Listed Real Assets Fund) Institutional Class DPRSX This annual shareholder report contains important information about Nomura Global Listed Real Assets Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">November 1, 2024,</span> to October 31, 2025. annual shareholder report You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. nomuraassetmanagement.com/literature  800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period except as otherwise noted in the Material Fund changes section.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Institutional Class</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>98</td> <td style="break-inside: avoid-page; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.93<span>%</span></td> </tr> </table> 98 0.0093 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Performance highlights</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Nomura Global Listed Real Assets Fund (Institutional Class) returned 11.49% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">October 31, 2025.</span> During the same period, the MSCI ACWI (All Country World Index) Index (net) and MSCI ACWI Index (gross), the Fund's broad-based securities market index, returned 22.64% and 23.19%, respectively, while the Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD, the Fund's narrowly based securities market index, returned 3.49%.</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top contributors to performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Equities and credit-sensitive fixed income generally rallied over the fiscal year, supported by stabilizing inflation expectations and a broad trend of monetary easing by central banks globally.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Real asset equities and real asset credit generally drove outperformance relative to inflation-linked bonds as the momentum behind strong corporate earnings and falling yields helped propel risk assets forward.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Relative to the Fund's narrowly based index:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset equities, including infrastructure, natural resources, and real estate</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset credit</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top detractors from performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to real estate underperformed the Fund’s broad-based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to inflation-linked fixed income underperformed the Fund’s narrowly based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Security selection within inflation-linked fixed income slightly detracted.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Within sectors, paper and forest products as well as containers and packaging detracted.</div> <div style="break-before: always; margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in multiple <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market indices and multiple narrowly based securities market indices for the same period.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">For the period October 31, 2015, through October 31, 2025</div> <div style="margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g81794g31m13.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; border-bottom-color: rgb(0, 0, 0); height: auto;"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 0 3pt 0;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>October 31, 2025</strong>)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>10 year</strong></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Institutional Class) – including sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.95</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">6.13</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Institutional Class) – excluding sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.95</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">6.13</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">22.64</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.31</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (gross)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">23.19</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">15.14</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.87</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">-0.71</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">2.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Infrastructure Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">16.99</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.81</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.43</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">FTSE EPRA Nareit Developed Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.02</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Natural Resources Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.58</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.16</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Nomura Global Listed Real Assets Fund (Institutional Class) – including sales charge 0.1149 0.0895 0.0613 Nomura Global Listed Real Assets Fund (Institutional Class) – excluding sales charge 0.1149 0.0895 0.0613 MSCI ACWI Index (net) 0.2264 0.1461 0.1131 MSCI ACWI Index (gross) 0.2319 0.1514 0.1187 Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD 0.0349 -0.0071 0.0242 S&P Global Infrastructure Index (net) 0.1699 0.1281 0.0743 FTSE EPRA Nareit Developed Index (net) 0.0342 0.0589 0.0302 S&P Global Natural Resources Index (net) 0.1058 0.1416 0.0861 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of October 31, 2025)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>108,493,445</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">257</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>510,846</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">61<span>%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 10pt;"> <tr style="border-bottom-width: 0px; border-bottom-style: initial; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; margin-bottom: 0; font-weight: normal; font-family: 'Arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); width: 1%; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; margin-bottom: 0; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 108493445 257 510846 0.61 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of October 31, 2025)</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Portfolio composition</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Common Stocks</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">64.64<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">US Treasury Obligations</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.06<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Corporate Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.91<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Sovereign Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.77<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Exchange-Traded Fund</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.74<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Loan Agreements</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">1.01<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.79<span>%</span></td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.6464 0.1106 0.0891 0.0877 0.0274 0.0101 0.0079 <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.0170 0.0144 0.0133 0.0127 0.0117 0.0110 0.0104 0.0097 0.0092 0.0090 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective October 1, 2025, Van Eck Associates Corporation, located at 666 Third Avenue, New York, NY, 10017 ("Van Eck"), became an additional sub-adviser to the Fund. There were no changes to the Fund’s investment objective in connection with this addition. On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Institutional Class shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Institutional Class shares of 0.90% (excluding certain items, such as distribution and service (12b-1) fees).</div> 2025-02-27 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. 2025-09-09 Nomura Global Listed Real Assets Fund(formerly, Macquarie Global Listed Real Assets Fund) Class R6 DPRDX This annual shareholder report contains important information about Nomura Global Listed Real Assets Fund (Fund) for the period of <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">November 1, 2024,</span> to October 31, 2025. annual shareholder report You can find additional information about the Fund at nomuraassetmanagement.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. nomuraassetmanagement.com/literature  800 523-1918 <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;">This report describes changes to the Fund that occurred during the reporting period except as otherwise noted in the Material Fund changes section.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;"><b>What were the </b> <b>Fund's</b> <b> costs for </b> <b>the last 12 months</b> <b>?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class R6</td> <td style="break-inside: avoid-page; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>88</td> <td style="break-inside: avoid-page; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.83<span>%</span></td> </tr> </table> 88 0.0083 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Management's discussion of Fund performance</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Performance highlights</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Nomura Global Listed Real Assets Fund (Class R6) returned 11.56% (excluding sales charge)<span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;"> </span>for the 12 months ended <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">October 31, 2025.</span> During the same period, the MSCI ACWI (All Country World Index) Index (net) and MSCI ACWI Index (gross), the Fund's broad-based securities market index, returned 22.64% and 23.19%, respectively, while the Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD, the Fund's narrowly based securities market index, returned 3.49%.</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top contributors to performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Equities and credit-sensitive fixed income generally rallied over the fiscal year, supported by stabilizing inflation expectations and a broad trend of monetary easing by central banks globally.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Real asset equities and real asset credit generally drove outperformance relative to inflation-linked bonds as the momentum behind strong corporate earnings and falling yields helped propel risk assets forward.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Relative to the Fund's narrowly based index:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset equities, including infrastructure, natural resources, and real estate</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to real asset credit</div> <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top detractors from performance:</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to real estate underperformed the Fund’s broad-based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The Fund’s allocation to inflation-linked fixed income underperformed the Fund’s narrowly based index.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Security selection within inflation-linked fixed income slightly detracted.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Within sectors, paper and forest products as well as containers and packaging detracted.</div> <div style="break-before: always; margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt;">Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years (or period) of the Class for the life of the Class. It also assumes a $10,000 initial investment at the Class's inception date in multiple <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market indices and multiple narrowly based securities market indices for the same period.</div> <div style="margin-top: 0px; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">For the period August 31, 2016 (Class R6's inception), through October 31, 2025</div> <div style="margin-bottom: 6pt;"> <img alt="Fund Performance - Growth of 10K" src="g81794g89y63.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; border-bottom-color: rgb(0, 0, 0); height: auto;"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-indent: 0; width: 60%; line-height: 12pt; text-align: left; padding: 6pt 0 3pt 0;"><strong>Average annual total returns </strong>(<strong>as of </strong><strong>October 31, 2025</strong>)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>1 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>5 year</strong></td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; line-height: 12pt; padding: 6pt 0 3pt 0;"><strong>Since inception</strong><strong><br/>(8/31/16)</strong></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class R6) – including sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.56</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">9.04</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.48</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Nomura Global Listed Real Assets Fund (Class R6) – excluding sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">11.56</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">9.04</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.48</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">22.64</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.61</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.01</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">MSCI ACWI Index (gross)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">23.19</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">15.14</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.56</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.49</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">-0.71</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">1.47</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Infrastructure Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">16.99</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">12.81</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">8.24</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">FTSE EPRA Nareit Developed Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">3.42</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">5.89</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">2.25</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; line-height: 100%; padding: 6pt 0 3pt 0;">S&amp;P Global Natural Resources Index (net)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">10.58</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">14.16</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 3pt 0;">7.39</td> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 2016-08-31 Nomura Global Listed Real Assets Fund (Class R6) – including sales charge 0.1156 0.0904 0.0548 Nomura Global Listed Real Assets Fund (Class R6) – excluding sales charge 0.1156 0.0904 0.0548 MSCI ACWI Index (net) 0.2264 0.1461 0.1201 MSCI ACWI Index (gross) 0.2319 0.1514 0.1256 Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD 0.0349 -0.0071 0.0147 S&P Global Infrastructure Index (net) 0.1699 0.1281 0.0824 FTSE EPRA Nareit Developed Index (net) 0.0342 0.0589 0.0225 S&P Global Natural Resources Index (net) 0.1058 0.1416 0.0739 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit nomuraassetmanagement.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> statistics </b>(as of October 31, 2025)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>108,493,445</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings*</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">257</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total advisory fees paid (during reporting period)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>510,846</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; line-height: 80%; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; line-height: 80%; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding: 6pt 0 6pt 0;">61<span>%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 10pt;"> <tr style="border-bottom-width: 0px; border-bottom-style: initial; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; margin-bottom: 0; font-weight: normal; font-family: 'Arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); width: 1%; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">*</div> </td> <td style="break-inside: avoid-page; margin-bottom: 0; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Excludes cash and cash equivalents.</div> </td> </tr> </table> 108493445 257 510846 0.61 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund</b> <b style="font-size: 12pt;"> holdings</b> (as of October 31, 2025)</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Portfolio composition</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Common Stocks</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">64.64<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">US Treasury Obligations</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">11.06<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Corporate Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.91<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Sovereign Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">8.77<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Exchange-Traded Fund</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">2.74<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Loan Agreements</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">1.01<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 3pt 1pt 6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt 3pt 1pt 3pt;">0.79<span>%</span></td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.6464 0.1106 0.0891 0.0877 0.0274 0.0101 0.0079 <div style="border-bottom-width: 1pt; border-bottom-style: solid; line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Top 10 equity holdings</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Equinix</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.70<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Welltower</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.44<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Shell</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.33<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Newmont</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.27<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Enbridge</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.17<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Steel Dynamics</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.10<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Nutrien</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">1.04<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">Ventas</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.97<span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">NextEra Energy</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.92<span>%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-indent: -6pt; line-height: 10pt; padding: 1pt 1pt 1pt 6pt;">National Grid</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; line-height: 10pt; padding: 1pt;">0.90<span>%</span></td> </tr> </table> 0.0170 0.0144 0.0133 0.0127 0.0117 0.0110 0.0104 0.0097 0.0092 0.0090 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Material Fund changes</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective October 1, 2025, Van Eck Associates Corporation, located at 666 Third Avenue, New York, NY, 10017 ("Van Eck"), became an additional sub-adviser to the Fund. There were no changes to the Fund’s investment objective in connection with this addition. On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class R6 shares of 0.80% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> On such date, the Fund’s principal investment strategies section was revised to note that the Fund’s manager may seek investment advice and recommendations and implement model portfolio information from Van Eck for natural resources securities. <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective February 27, 2025, the Fund introduced a revised fee waiver for Class R6 shares of 0.80% (excluding certain items, such as distribution and service (12b-1) fees).</div> 2025-02-27 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective December 1, 2025, the Fund was renamed Nomura Global Listed Real Assets Fund.</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund that occurred during the reporting period except as otherwise noted. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 2, 2026, at <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">nomuraassetmanagement.com/literature</span> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> nomuraassetmanagement.com/literature 800 523-1918 <div style="line-height: 100%; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold; margin-bottom: 6pt; margin-top: 0px;">Changes in and disagreements with accountants</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. There were no disagreements with PwC during the Fund’s two most recent fiscal years or the subsequent interim period through <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>.</div> During the reporting period, there was a change in the Fund’s independent registered public accounting firm. On <span style="white-space: nowrap; font-family: 'times new roman'; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">September 9, 2025</span>, the Fund’s Board of Trustees, upon the recommendation of its Audit Committee, approved the appointment of Cohen &amp; Company, Ltd. as the independent registered public accounting firm for the Fund, effectively dismissing PricewaterhouseCoopers LLP as the Fund’s independent registered public accounting firm. 2025-09-09 Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents. Excludes cash and cash equivalents.