Macquarie Delaware Funds by Macquarie

Optimum International Fund

Key features

  • The objective of Optimum International Fund is to seek long-term growth of capital, and it may also seek income.
  • Baillie Gifford is a fundamental, bottom-up investment manager that believes durable and growing businesses that are managed by intelligent people should outperform peers over an extended time horizon. Baillie Gifford employs a qualitative investment process to construct a portfolio that consists of companies displaying a wide variety of growth.
  • Acadian utilizes a quantitative investment process to build portfolios from the bottom up, using proprietary valuation models that measure approximately 20 stock factors.
Fund information
Inception date08/01/2003
Dividends paid (if any)Annual
Capital gains paid (if any)December
Fund identifiers
NASDAQOAIEX
CUSIP246118731
Investment minimums
Initial investment$1,000
Subsequent investments$100
Account features
Payroll deductionNo
IRAsYes

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.

Average annual total return

as of month-end (11/30/2021)

as of quarter-end (09/30/2021)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)3.30% 12.31% 8.95% 9.09% 6.41% 6.06% 08/01/2003
Max offer price-2.65% 5.88% 6.82% 7.81% 5.79% 5.71%
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-4.36% 31.51% 7.35% 9.15% 7.48% 6.31% 08/01/2003
Max offer price-9.85% 23.91% 5.23% 7.86% 6.84% 5.97%
MSCI ACWI ex USA (Net)-2.99%23.91%8.03%8.94%7.48%n/a
MSCI ACWI ex USA (Gross)-2.88%24.45%8.52%9.44%7.97%n/a
MSCI EAFE Index (Net)-0.45%25.73%7.62%8.81%8.10%n/a
MSCI EAFE Index (Gross)-0.35%26.29%8.13%9.33%8.60%n/a

Returns for less than one year are not annualized.

The Manager has changed the Fund's primary index from the MSCI EAFE Index to the MSCI ACWI ex USA Index in order to reflect the Fund's ability to invest in emerging market securities.

Class A shares have a maximum up-front sales charge of 5.75% and are subject to an annual distribution fee.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Expense ratio
Gross1.35%
Net1.34%
Performance characteristics - as of 11/30/2021
Annualized standard deviation, 3 years (view definition)19.38
Calendar year total returns @ NAV
YearAnnual return
202011.17%
201919.22%
2018-14.25%
201730.08%
20164.23%
2015-3.59%
2014-8.69%
201320.56%
201212.14%
2011-9.71%

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

Investment manager

Delaware Management Company

Sub-advisors

Baillie Gifford Overseas Limited (Baillie Gifford)

Andrew Stobart

Investment Manager

Start date on the Fund: April 2021

Andrew Stobart has been a member of the International Alpha Portfolio Construction Group since 2008 and an investment manager in the Emerging Markets Equity team since 2007. Andrew previously worked in the UK, Japanese and North American teams. He joined Baillie Gifford as an investment analyst in 1991, having spent three years working in investment banking in London. Andrew graduated MA in Economics from the University of Cambridge in 1987.

Angus Franklin

Investment Manager

Start date on the Fund: April 2021

Angus Franklin conducts research for the International Alpha portfolios and has been a member of the International Alpha Portfolio Construction Group since 2006. He also chairs the firm's Emerging Markets and European Equity teams since joining Baillie Gifford in 1994. Mr. Franklin graduated MA in Social and Economic history from the University of St. Andrews and qualified as a Chartered Accountant in 1992.

Donald Farquharson

Investment Manager

Start date on the Fund: April 2021

Donald Farquharson heads the Japanese Equities team and has been a member of the International Alpha Portfolio Construction Group since 2014. He joined Baillie Gifford in 2008 and became a partner in 2017. He has 32 years' investment experience dedicated almost entirely to Japanese Equities. Donald spent 20 years working for Schroders as a Japanese specialist, latterly as Head of the Pan Pacific Equity team. Between 1991 and 1995, he headed Schroders' research team in Tokyo. Mr. Farquharson graduated MA (Hons) in Arabic studies from the University of St. Andrews in 1987 and is a CFA Charterholder.

Jenny Davis

Investment Manager

Start date on the Fund: April 2021

Ms. Davis conducts research for International Alpha portfolios and has been a member of the International Alpha Portfolio Construction Group since 2016. She joined Baillie Gifford in 2011 and worked on two of our global equity strategies, having started her career at Neptune Investment Management. Ms. Davis graduated MA in Music from the University of Oxford in 2008, and latterly undertook postgraduate studies in Psychotherapy at the University of Edinburgh.

Toby Ross

Investment Manager

Start date on the Fund: April 2021

Toby Ross is co-head of the Global Income Growth team and has been a member of the International Alpha Portfolio Construction Group since 2018. Since joining Baillie Gifford in 2006, Toby has also spent time as an investment analyst in the UK Equity team and as a Global Sector specialist. He graduated MA in English literature from the University of Cambridge in 2006, and is a CFA Charterholder.

Tom Walsh

Investment Manager

Start date on the Fund: April 2021

Tom Walsh conducts research for International Alpha portfolios and has been a member of the International Alpha Portfolio Construction Group (PCG) since 2018. He joined Baillie Gifford in 2009, working on the UK, European and Global Opportunities teams, as well as spending four years as a member of the International Focus PCG. Before joining Baillie Gifford, Tom worked at Fidelity International, Merrill Lynch and Deloitte & Touche. He graduated LLB (Hons) in Law & Economics from the University of Edinburgh in 1999 and is both CFA and ACA qualified.

Acadian Asset Management, LLC

Brendan O. Bradley, Ph.D.

Executive Vice President and Chief Investment Officer

Start date on the Fund: January 2015

Brendan O. Bradley, Ph.D., is executive vice president and chief investment officer at Acadian. Dr. Bradley joined the company in September 2004 as a senior member of the Research and Portfolio Management team. He previously served as director of portfolio management, overseeing portfolio management policy, and also as the director of Acadian’s Managed Volatility strategies. Dr. Bradley is a member of the Acadian Board of Managers and Executive Committee. Prior to Acadian, Dr. Bradley was a vice president at Upstream Technologies, where he designed and implemented investment management systems and strategies. His professional background also includes work as a research analyst and consultant at Samuelson Portfolio Strategies. Dr. Bradley earned a Ph.D. in applied mathematics from Boston University and a B.A. in physics from Boston College.

Ryan D. Taliaferro, Ph.D.

Senior Vice President, Director, Equity Strategies

Start date on the Fund: March 2019

Ryan D. Taliaferro Ph.D. is senior vice president, director, equity strategies at Acadian. Dr. Taliaferro joined Acadian in 2011 and currently serves as director of equity strategies. Previously, he was the lead portfolio manager for Acadian’s Managed Volatility strategies. Prior to joining Acadian, Dr. Taliaferro was a faculty member in the finance unit at Harvard Business School, where he taught corporate finance and asset pricing. Earlier, he was a consultant at the Boston Consulting Group. Dr. Taliaferro earned a Ph.D. in business economics (finance) from Harvard University and an M.B.A. in finance and economics from the University of Chicago. He also holds an A.M. in economics, and an A.M. and A.B. in physics from Harvard University.

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $75,000 in Optimum Funds. More information about these and other discounts is available from your financial intermediary, in the Fund's Prospectus under the section entitled "About your account," and in the Fund's statement of additional information (SAI) under the section entitled "Purchasing Shares."

The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering price5.75%
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees0.75%
Distribution and service (12b-1) fees0.25%
Other expenses0.35%
Total annual fund operating expenses1.35%
Fee waivers and expense reimbursements(0.01%)
Total annual fund operating expenses after fee waivers and expense reimbursements1.34%

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

1The Fund’s investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 1.09% of the Fund’s average daily net assets from July 29, 2021 through July 29, 2022. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

The chart below lists the percentage of the Fund's total assets under management that each sub-advisor manages on behalf of the Fund. The percentages include securities, cash, and any other assets managed by each sub-advisor in its sleeve of the Fund. These percentage allocations should be updated some time after 30 days following a given month end.

  
DateAcadianDelaware Management CompanyEARNEST Partners LLCTotal
11/30/202038.16%0.03%61.81%100%
12/31/202036.98%0.03%63.00%100%
01/31/202138.02%0.03%61.96%100%
02/28/202138.71%0.02%61.27%100%
03/31/202157.38%0.00%42.62%100%
04/30/202158.28%0.00%41.71%100%
05/31/202156.70%0.00%43.29%100%
06/30/202155.86%0.00%44.14%100%
07/31/202155.28%0.00%44.72%100%
08/31/202154.15%0.01%45.84%100%
09/30/202153.37%0.01%46.63%100%
10/31/202151.91%0.00%48.09%100%

Total may not equal 100% due to rounding.

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund’s prospectus, which may be obtained by visiting optimummutualfunds.com/literature or calling 800 914-0278. Investors should read the prospectus and, if available, the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

International investments entail risks not ordinarily associated with US investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations.

Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.

The Fund may invest in derivatives, which may involve additional expenses and are subject to risk, including the risk that an underlying security or securities index moves in the opposite direction from what the portfolio manager anticipated. A derivatives transaction depends upon the counterparties’ ability to fulfill their contractual obligations.

The disruptions caused by natural disasters, pandemics, or similar events could prevent the Fund from executing advantageous investment decisions in a timely manner and could negatively impact the Fund’s ability to achieve its investment objective and the value of the Fund’s investments.

All third-party marks cited are the property of their respective owners.

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Daily pricing (as of 12/03/2021)

Class APriceNet change
NAV$15.05-0.11
Max offer price$15.97n/a

Total net assets (as of 10/31/2021)

$1.0 billion all share classes

Lipper ranking (as of 10/31/2021)

YTD ranking251 / 347
1 year33 / 342
3 years175 / 314
5 years90 / 268
10 years123 / 171
Lipper classificationInternational Multi-Cap Core

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Holdings

Benchmark and peer group

MSCI ACWI (All Country World Index) ex USA Index (view definition)

Lipper International Multi-Cap Core Funds Average (view definition)

Additional information