Delaware Group Adviser Funds

11/13/2025 | Press release | Distributed by Public on 11/13/2025 13:48

Fidelity Bond Filing (Form 40-17G)


OCTOBER 27, 2025

RESOLUTIONS - FIDELITY BOND COVERAGE
($40 Million Joint Fidelity Bond)



WHEREAS, this Board of Trustees (the "Board") has considered the form of the joint insured broker's blanket bond for the Macquarie Funds, and the amount of such joint insured broker's blanket bond, and has considered the value of the aggregate assets of the Funds to which any covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of the assets of each of the Fund's Series, the nature of the securities in each Series' portfolios and the higher cost that would have to be paid to purchase a comparable single insured bond for each Fund;

WHEREAS, the Board, including all of the Trustees who were not then interested persons with respect to the Fund, has concluded that the Fund's participation in the proposed joint insured broker's blanket bond is in the best interest of the Fund; and

WHEREAS, the Board, including all of the Trustees who were not then interested persons with respect to the Fund, has determined that the benefits of having ICI Mutual Insurance Company ("ICI Mutual") participate in the joint insured broker's blanket bond justify the maintenance of reserve premiums with ICI Mutual and the acceptance of restrictions upon the withdrawal of those reserve premiums;

NOW, THEREFORE, IT IS RESOLVED, that the officers of the Fund are authorized and directed to cause each of its Series to participate in the joint insured broker's blanket bonds in the aggregate amount of $40,000,000, which also covers the other Delaware Funds by Macquarie, and that the Fund shall pay its share of the premium determined in accordance with the allocation methodology discussed with the Trustees; and it is further

RESOLVED, that the officers of the Fund are hereby authorized and directed to execute an agreement under Section 17(g) of the 1940 Act with the other insureds listed on the broker's blanket bond (the "Agreement"), whereby the Fund will bear its proportionate share of the premium and coverage of the bond, and the share of the premium and coverage of the other Funds shall, if appropriate, be proportionately adjusted; and it is further

RESOLVED, that the Secretary of the Fund is hereby authorized and directed to file with the Securities and Exchange Commission ("SEC") a copy of the bond and a copy of the resolutions approving the amount,



type, form and coverage of the bond and the portion of the premium to be paid by each of the Fund's Series, a statement showing the amount of the single insured bond which the Fund would have provided and maintained had it not been named as an insured under the broker's blanket bond described herein, a statement of the period for which premiums have been paid and a copy of the Agreement, all pursuant to Section 17(g) of the 1940 Act, and that the Secretary of the Fund or his appropriate designee be designated as the officer directed to make all necessary filings; and it is further

RESOLVED, that this Board, including those Trustees who do not have control over or access to any of the portfolio securities, funds or other assets of the Fund's Series, hereby conclude that the amount, scope and coverage of the fidelity bond of the Fund are adequate; and it is further

RESOLVED, that this Board, taking all relevant factors into consideration, hereby determines that it is in the best interest of the Fund and the Fund's shareholders for the Fund and each Series to participate in the joint insured broker's blanket bond described at this meeting, and that the proposed premium allocation to the Fund and to each Series is fair and reasonable to the Fund and each Series based upon a consideration of the relative higher premium that would have been paid if comparable insurance coverage were purchased separately by the insured parties.



MARSH USA LLC
ATTN: Keith Gilbertson
1166 AVE OF AMERICAS 37F
NEW YORK, NY 10036
INSURED: MACQUARIE FUNDS
PRODUCT: DFIBond
POLICY NO: 81951478
TRANSACTION: RENL_CORR

Chubb Group of Insurance Companies DECLARATIONS
202B Hall's Mill Road FINANCIAL INSTITUTION INVESTMENT
Whitehouse Station, NJ 08889 COMPANY ASSET PROTECTION BOND
NAME OF ASSURED (including its Subsidiaries): Bond Number: 81951478
MACQUARIE FUNDS
610 MARKET STREET
FEDERAL INSURANCE COMPANY
PHILADELPHIA, PA 19106 Incorporated under the laws of Indiana
a stock insurance company herein called the COMPANY
Capital Center, 251 North Illinois, Suite 1100
Indianapolis, IN 46204-1927
ITEM 1. BOND PERIOD: from 12:01 a.m. on October 31, 2025
to 12:01 a.m. on October 31, 2026
ITEM 2. LIMITS OF LIABILITY--DEDUCTIBLE AMOUNTS:
If "Not Covered" is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE and
any other reference shall be deemed to be deleted. There shall be no deductible applicable to any loss
under INSURING CLAUSE 1. sustained by any Investment Company.
SINGLE LOSS DEDUCTIBLE
INSURING CLAUSE LIMIT OF LIABILITY AMOUNT
1. Employee $ 40,000,000 $ 50,000
2. On Premises $ 40,000,000 $ 50,000
3. In Transit $ 40,000,000 $ 50,000
4. Forgery or Alteration $ 40,000,000 $ 50,000
5. Extended Forgery $ 40,000,000 $ 50,000
6. Counterfeit Money $ 40,000,000 $ 50,000
7. Threats to Person $ 40,000,000 $ 50,000
8. Computer System $ 40,000,000 $ 50,000
9. Voice Initiated Funds Transfer
Instruction $ 40,000,000 $ 50,000
10. Uncollectible Items of Deposit $ 50,000 $ 10,000
11. Audit Expense $ 100,000 $ 0
ITEM 3. THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE FOLLOWING
ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:
O THE TERMS OF THE FOLLOWING ENDORSEMENTS EXECUTED
SIMULTANEOUSLY HEREWITH:
ENDORSEMENT 1-18
ICAP Bond (5-98) - Federal
Form 17-02-1421 (Ed. 5-98) Page 1 of 1

IN WITNESS WHEREOF, THE COMPANY has caused this Bond to be signed by its authorized officers, but it shall not be
valid unless also signed by an authorized representative of the Company.

Form 17-02-1421 (Ed. 5-98)

Page 2 of 2


The COMPANY, in consideration of payment of the required premium, and in reliance
on the APPLICATION and all other statements made and information furnished to the
COMPANY by the ASSURED, and subject to the DECLARATIONS made a part of this
Bond and to all other terms and conditions of this Bond, agrees to pay the ASSURED
for:
Insuring Clauses
Employee 1 .
Loss resulting directly from Larceny or Embezzlement committed by any
Employee, alone or in collusion with others.

On Premises 2 . Loss of Property resulting directly from robbery, burglary, false pretenses,
common law or statutory larceny, misplacement, mysterious unexplainable
disappearance, damage, destruction or removal, from the possession, custody or
control of the ASSURED, while such Property is lodged or deposited at premises
located anywhere.
In Transit 3 . Loss of Property resulting directly from common law or statutory larceny,
misplacement, mysterious unexplainable disappearance, damage or destruction,
while the Property is in transit anywhere:
a. in an armored motor vehicle, including loading and unloading thereof,
b. in the custody of a natural person acting as a messenger of the ASSURED,
or
c. in the custody of a Transportation Company and being transported in a
conveyance other than an armored motor vehicle provided, however, that
covered Property transported in such manner is limited to the following:
(1)
written records,
(2)
securities issued in registered form, which are not endorsed or are
restrictively endorsed, or
(3)
negotiable instruments not payable to bearer, which are not endorsed
or are restrictively endorsed.
Coverage under this INSURING CLAUSE begins immediately on the receipt of
such Property by the natural person or Transportation Company and ends
immediately on delivery to the premises of the addressee or to any representative
of the addressee located anywhere.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 1 of 19

Insuring Clauses
(continued)
Forgery Or Alteration 4 . Loss resulting directly from:
a. Forgery on, or fraudulent material alteration of, any bills of exchange,
checks, drafts, acceptances, certificates of deposits, promissory notes, due
bills, money orders, orders upon public treasuries, letters of credit, other
written promises, orders or directions to pay sums certain in money, or
receipts for the withdrawal of Property, or
b. transferring, paying or delivering any funds or other Property, or establishing
any credit or giving any value in reliance on any written instructions, advices
or applications directed to the ASSURED authorizing or acknowledging the
transfer, payment, delivery or receipt of funds or other Property, which
instructions, advices or applications fraudulently purport to bear the
handwritten signature of any customer of the ASSURED, or shareholder or
subscriber to shares of an Investment Company, or of any financial
institution or Employee but which instructions, advices or applications either
bear a Forgery or have been fraudulently materially altered without the
knowledge and consent of such customer, shareholder, subscriber, financial
institution or Employee;
excluding, however, under this INSURING CLAUSE any loss covered under
INSURING CLAUSE 5. of this Bond, whether or not coverage for INSURING
CLAUSE 5. is provided for in the DECLARATIONS of this Bond.
For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile
signature is treated the same as a handwritten signature.
Extended Forgery 5 . Loss resulting directly from the ASSURED having, in good faith, and in the
ordinary course of business, for its own account or the account of others in any
capacity:
a. acquired, accepted or received, sold or delivered, or given value, extended
credit or assumed liability, in reliance on any original Securities,
documents or other written instruments which prove to:
(1) bear a Forgery or a fraudulently material alteration,
(2) have been lost or stolen, or
(3) be Counterfeit, or
b. guaranteed in writing or witnessed any signatures on any transfer,
assignment, bill of sale, power of attorney, guarantee, endorsement or other
obligation upon or in connection with any Securities, documents or other
written instruments.
Actual physical possession, and continued actual physical possession if taken as
collateral, of such Securities, documents or other written instruments by an
Employee, Custodian, or a Federal or State chartered deposit institution of the
ASSURED is a condition precedent to the ASSURED having relied on such items.
Release or return of such collateral is an acknowledgment by the ASSURED that it
no longer relies on such collateral.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 2 of 19

Insuring Clauses
Extended Forgery For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile
(continued) signature is treated the same as a handwritten signature.
Counterfeit Money 6 . Loss resulting directly from the receipt by the ASSURED in good faith of any
Counterfeit money.
Threats To Person 7 . Loss resulting directly from surrender of Property away from an office of the
ASSURED as a result of a threat communicated to the ASSURED to do bodily
harm to an Employee as defined in SECTION 1.e. (1), (2) and (5), a Relative or
invitee of such Employee, or a resident of the household of such Employee, who
is, or allegedly is, being held captive provided, however, that prior to the surrender
of such Property:
a. the Employee who receives the threat has made a reasonable effort to
notify an officer of the ASSURED who is not involved in such threat, and
b. the ASSURED has made a reasonable effort to notify the Federal Bureau of
Investigation and local law enforcement authorities concerning such threat.
It is agreed that for purposes of this INSURING CLAUSE, any Employee of the
ASSURED, as set forth in the preceding paragraph, shall be deemed to be an
ASSURED hereunder, but only with respect to the surrender of money, securities
and other tangible personal property in which such Employee has a legal or
equitable interest.
Computer System 8 . Loss resulting directly from fraudulent:
a. entries of data into, or
b. changes of data elements or programs within,
a Computer System, provided the fraudulent entry or change causes:
(1)
funds or other property to be transferred, paid or delivered,
(2)
an account of the ASSURED or of its customer to be added, deleted,
debited or credited, or
(3)
an unauthorized account or a fictitious account to be debited or
credited.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 3 of 19

Insuring Clauses
(continued)
Voice Initiated Funds 9 . Loss resulting directly from Voice Initiated Funds Transfer Instruction directed
Transfer Instruction to the ASSURED authorizing the transfer of dividends or redemption proceeds of
Investment Company shares from a Customer's account, provided such Voice
Initiated Funds Transfer Instruction was:
a. received at the ASSURED'S offices by those Employees of the ASSURED
specifically authorized to receive the Voice Initiated Funds Transfer
Instruction,
b. made by a person purporting to be a Customer, and
c. made by said person for the purpose of causing the ASSURED or Customer
to sustain a loss or making an improper personal financial gain for such
person or any other person.
In order for coverage to apply under this INSURING CLAUSE, all Voice Initiated
Funds Transfer Instructions must be received and processed in accordance with
the Designated Procedures outlined in the APPLICATION furnished to the
COMPANY.
Uncollectible Items of 10 . Loss resulting directly from the ASSURED having credited an account of a
Deposit customer, shareholder or subscriber on the faith of any Items of Deposit which
prove to be uncollectible, provided that the crediting of such account causes:
a. redemptions or withdrawals to be permitted,
b. shares to be issued, or
c. dividends to be paid,
from an account of an Investment Company.

In order for coverage to apply under this INSURING CLAUSE, the ASSURED
must hold Items of Deposit for the minimum number of days stated in the
APPLICATION before permitting any redemptions or withdrawals, issuing any
shares or paying any dividends with respect to such Items of Deposit.
Items of Deposit shall not be deemed uncollectible until the ASSURED'S
standard collection procedures have failed.
Audit Expense 11 . Expense incurred by the ASSURED for that part of the cost of audits or
examinations required by any governmental regulatory authority or self-regulatory
organization to be conducted by such authority, organization or their appointee by
reason of the discovery of loss sustained by the ASSURED and covered by this
Bond.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 4 of 19

General Agreements
Additional Companies A. If more than one corporation, or Investment Company, or any combination of
Included As Assured them is included as the ASSURED herein:
(1)
The total liability of the COMPANY under this Bond for loss or losses
sustained by any one or more or all of them shall not exceed the limit for
which the COMPANY would be liable under this Bond if all such loss were
sustained by any one of them.
(2)
Only the first named ASSURED shall be deemed to be the sole agent of the
others for all purposes under this Bond, including but not limited to the giving
or receiving of any notice or proof required to be given and for the purpose of
effecting or accepting any amendments to or termination of this Bond. The
COMPANY shall furnish each Investment Company with a copy of the
Bond and with any amendment thereto, together with a copy of each formal
filing of claim by any other named ASSURED and notification of the terms of
the settlement of each such claim prior to the execution of such settlement.
(3)
The COMPANY shall not be responsible for the proper application of any
payment made hereunder to the first named ASSURED.
(4)
Knowledge possessed or discovery made by any partner, director, trustee,
officer or supervisory employee of any ASSURED shall constitute knowledge
or discovery by all the ASSUREDS for the purposes of this Bond.
(5)
If the first named ASSURED ceases for any reason to be covered under this
Bond, then the ASSURED next named on the APPLICATION shall thereafter
be considered as the first named ASSURED for the purposes of this Bond.
Representation Made By B. The ASSURED represents that all information it has furnished in the
Assured APPLICATION for this Bond or otherwise is complete, true and correct. Such
APPLICATION and other information constitute part of this Bond.
The ASSURED must promptly notify the COMPANY of any change in any fact or
circumstance which materially affects the risk assumed by the COMPANY under
this Bond.
Any intentional misrepresentation, omission, concealment or incorrect statement of
a material fact, in the APPLICATION or otherwise, shall be grounds for recision of
this Bond.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 5 of 19

General Agreements
(continued)
Additional Offices Or C. If the ASSURED, other than an Investment Company, while this Bond is in force,
Employees - Consolidation, merges or consolidates with, or purchases or acquires assets or liabilities of
Merger Or Purchase Or another institution, the ASSURED shall not have the coverage afforded under this
Acquisition Of Assets Or Bond for loss which has:
Liabilities - Notice To (1)
occurred or will occur on premises, or
Company
(2)
been caused or will be caused by an employee, or
(3)
arisen or will arise out of the assets or liabilities,
of such institution, unless the ASSURED:
a. gives the COMPANY written notice of the proposed consolidation, merger or
purchase or acquisition of assets or liabilities prior to the proposed effective
date of such action, and
b. obtains the written consent of the COMPANY to extend some or all of the
coverage provided by this Bond to such additional exposure, and
c. on obtaining such consent, pays to the COMPANY an additional premium.
Change Of Control - D. When the ASSURED learns of a change in control (other than in an Investment
Notice To Company Company), as set forth in Section 2(a) (9) of the Investment Company Act of
1940, the ASSURED shall within sixty (60) days give written notice to the
COMPANY setting forth:
(1)
the names of the transferors and transferees (or the names of the beneficial
owners if the voting securities are registered in another name),
(2)
the total number of voting securities owned by the transferors and the
transferees (or the beneficial owners), both immediately before and after the
transfer, and
(3)
the total number of outstanding voting securities.
Failure to give the required notice shall result in termination of coverage for any
loss involving a transferee, to be effective on the date of such change in control.
Court Costs And E. The COMPANY will indemnify the ASSURED for court costs and reasonable
Attorneys' Fees attorneys' fees incurred and paid by the ASSURED in defense, whether or not
successful, whether or not fully litigated on the merits and whether or not settled,
of any claim, suit or legal proceeding with respect to which the ASSURED would
be entitled to recovery under this Bond. However, with respect to INSURING
CLAUSE 1., this Section shall only apply in the event that:
(1)
an Employee admits to being guilty of Larceny or Embezzlement,
(2)
an Employee is adjudicated to be guilty of Larceny or Embezzlement, or
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 6 of 19

General Agreements
Court Costs And (3) in the absence of 1 or 2 above, an arbitration panel agrees, after a review of
Attorneys' Fees an agreed statement of facts between the COMPANY and the ASSURED,
(continued)
that an Employee would be found guilty of Larceny or Embezzlement if
such Employee were prosecuted.
The ASSURED shall promptly give notice to the COMPANY of any such suit or
legal proceeding and at the request of the COMPANY shall furnish copies of all
pleadings and pertinent papers to the COMPANY. The COMPANY may, at its
sole option, elect to conduct the defense of all or part of such legal proceeding.
The defense by the COMPANY shall be in the name of the ASSURED through
attorneys selected by the COMPANY. The ASSURED shall provide all reasonable
information and assistance as required by the COMPANY for such defense.
If the COMPANY declines to defend the ASSURED, no settlement without the
prior written consent of the COMPANY nor judgment against the ASSURED shall
determine the existence, extent or amount of coverage under this Bond.
If the amount demanded in any such suit or legal proceeding is within the
DEDUCTIBLE AMOUNT, if any, the COMPANY shall have no liability for court
costs and attorney's fees incurred in defending all or part of such suit or legal
proceeding.
If the amount demanded in any such suit or legal proceeding is in excess of the
LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable
INSURING CLAUSE, the COMPANY'S liability for court costs and attorney's fees
incurred in defending all or part of such suit or legal proceedings is limited to the
proportion of such court costs and attorney's fees incurred that the LIMIT OF
LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable INSURING
CLAUSE bears to the total of the amount demanded in such suit or legal
proceeding.
If the amount demanded is any such suit or legal proceeding is in excess of the
DEDUCTIBLE AMOUNT, if any, but within the LIMIT OF LIABILITY stated in ITEM
2. of the DECLARATIONS for the applicable INSURING CLAUSE, the
COMPANY'S liability for court costs and attorney's fees incurred in defending all or
part of such suit or legal proceedings shall be limited to the proportion of such
court costs or attorney's fees that the amount demanded that would be payable
under this Bond after application of the DEDUCTIBLE AMOUNT, bears to the total
amount demanded.
Amounts paid by the COMPANY for court costs and attorneys' fees shall be in
addition to the LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 7 of 19

Conditions and
Limitations
Definitions 1 . As used in this Bond:
a. Computer System means a computer and all input, output, processing,
storage, off-line media libraries, and communication facilities which are
connected to the computer and which are under the control and supervision
of the operating system(s) or application(s) software used by the ASSURED.
b. Counterfeit means an imitation of an actual valid original which is intended
to deceive and be taken as the original.
c. Custodian means the institution designated by an Investment Company to
maintain possession and control of its assets.
d. Customer means an individual, corporate, partnership, trust customer,
shareholder or subscriber of an Investment Company which has a written
agreement with the ASSURED for Voice Initiated Funds Transfer
Instruction.
e. Employee means:
(1)
an officer of the ASSURED,
(2)
a natural person while in the regular service of the ASSURED at any of
the ASSURED'S premises and compensated directly by the ASSURED
through its payroll system and subject to the United States Internal
Revenue Service Form W-2 or equivalent income reporting plans of
other countries, and whom the ASSURED has the right to control and
direct both as to the result to be accomplished and details and means
by which such result is accomplished in the performance of such
service,
(3)
a guest student pursuing studies or performing duties in any of the
ASSURED'S premises,
(4)
an attorney retained by the ASSURED and an employee of such
attorney while either is performing legal services for the ASSURED,
(5)
a natural person provided by an employment contractor to perform
employee duties for the ASSURED under the ASSURED'S supervision
at any of the ASSURED'S premises,
(6)
an employee of an institution merged or consolidated with the
ASSURED prior to the effective date of this Bond,
(7)
a director or trustee of the ASSURED, but only while performing acts
within the scope of the customary and usual duties of any officer or
other employee of the ASSURED or while acting as a member of any
committee duly elected or appointed to examine or audit or have
custody of or access to Property of the ASSURED, or
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 8 of 19

Conditions and
Limitations
Definitions (8)
each natural person, partnership or corporation authorized by written
(continued) agreement with the ASSURED to perform services as electronic data
processor of checks or other accounting records related to such checks but
only while such person, partnership or corporation is actually performing
such services and not:
a. creating, preparing, modifying or maintaining the ASSURED'S
computer software or programs, or
b. acting as transfer agent or in any other agency capacity in issuing
checks, drafts or securities for the ASSURED,
(9)
any partner, officer or employee of an investment advisor, an underwriter
(distributor), a transfer agent or shareholder accounting recordkeeper, or an
administrator, for an Investment Company while performing acts coming
within the scope of the customary and usual duties of an officer or employee
of an Investment Company or acting as a member of any committee duly
elected or appointed to examine, audit or have custody of or access to
Property of an Investment Company.
The term Employee shall not include any partner, officer or employee of a
transfer agent, shareholder accounting recordkeeper or administrator:
a. which is not an "affiliated person" (as defined in Section 2(a) of the
Investment Company Act of 1940) of an Investment Company or of
the investment advisor or underwriter (distributor) of such Investment
Company, or
b. which is a "bank" (as defined in Section 2(a) of the Investment
Company Act of 1940).
This Bond does not afford coverage in favor of the employers of
persons as set forth in e. (4), (5) and (8) above, and upon payment to
the ASSURED by the COMPANY resulting directly from Larceny or
Embezzlement committed by any of the partners, officers or
employees of such employers, whether acting alone or in collusion with
others, an assignment of such of the ASSURED'S rights and causes of
action as it may have against such employers by reason of such acts
so committed shall, to the extent of such payment, be given by the
ASSURED to the COMPANY, and the ASSURED shall execute all
papers necessary to secure to the COMPANY the rights provided for
herein.
Each employer of persons as set forth in e.(4), (5) and (8) above and the
partners, officers and other employees of such employers shall collectively
be deemed to be one person for all the purposes of this Bond; excepting,
however, the fifth paragraph of Section 13.
Independent contractors not specified in e.(4), (5) or (8) above,
intermediaries, agents, brokers or other representatives of the same general
character shall not be considered Employees.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 9 of 19

Conditions and
Limitations
Definitions f. Forgery means the signing of the name of another natural person with the
(continued) intent to deceive but does not mean a signature which consists in whole or in
part of one's own name, with or without authority, in any capacity for any
purpose.
g. Investment Company means any investment company registered under the
Investment Company Act of 1940 and listed under the NAME OF ASSURED
on the DECLARATIONS.
h. Items of Deposit means one or more checks or drafts drawn upon a
financial institution in the United States of America.
i. Larceny or Embezzlement means larceny or embezzlement as defined in
Section 37 of the Investment Company Act of 1940.
j. Property means money, revenue and other stamps; securities; including any
note, stock, treasury stock, bond, debenture, evidence of indebtedness,
certificate of deposit, certificate of interest or participation in any profit-
sharing agreement, collateral trust certificate, preorganization certificate or
subscription, transferable share, investment contract, voting trust certificate,
certificate of deposit for a security, fractional undivided interest in oil, gas, or
other mineral rights, any interest or instruments commonly known as a
security under the Investment Company Act of 1940, any other certificate of
interest or participation in, temporary or interim certificate for, receipt for,
guarantee of, or warrant or right to subscribe to or purchase any of the
foregoing; bills of exchange; acceptances; checks; withdrawal orders; money
orders; travelers' letters of credit; bills of lading; abstracts of title; insurance
policies, deeds, mortgages on real estate and/or upon chattels and interests
therein; assignments of such policies, deeds or mortgages; other valuable
papers, including books of accounts and other records used by the
ASSURED in the conduct of its business (but excluding all electronic data
processing records); and, all other instruments similar to or in the nature of
the foregoing in which the ASSURED acquired an interest at the time of the
ASSURED'S consolidation or merger with, or purchase of the principal
assets of, a predecessor or which are held by the ASSURED for any
purpose or in any capacity and whether so held gratuitously or not and
whether or not the ASSURED is liable therefor.
k. Relative means the spouse of an Employee or partner of the ASSURED
and any unmarried child supported wholly by, or living in the home of, such
Employee or partner and being related to them by blood, marriage or legal
guardianship.
l. Securities, documents or other written instruments means original
(including original counterparts) negotiable or non-negotiable instruments, or
assignments thereof, which in and of themselves represent an equitable
interest, ownership, or debt and which are in the ordinary course of business
transferable by delivery of such instruments with any necessary
endorsements or assignments.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 10 of 19

Conditions and
Limitations
Definitions m. Subsidiary means any organization that, at the inception date of this Bond,
(continued) is named in the APPLICATION or is created during the BOND PERIOD and
of which more than fifty percent (50%) of the outstanding securities or voting
rights representing the present right to vote for election of directors is owned
or controlled by the ASSURED either directly or through one or more of its
subsidiaries.
n. Transportation Company means any organization which provides its own
or its leased vehicles for transportation or which provides freight forwarding
or air express services.
o. Voice Initiated Election means any election concerning dividend options
available to Investment Company shareholders or subscribers which is
requested by voice over the telephone.
p. Voice Initiated Redemption means any redemption of shares issued by an
Investment Company which is requested by voice over the telephone.
q. Voice Initiated Funds Transfer Instruction means any Voice Initiated
Redemption or Voice Initiated Election.
For the purposes of these definitions, the singular includes the plural and the
plural includes the singular, unless otherwise indicated.
General Exclusions - 2 . This bond does not directly or indirectly cover:
Applicable to All Insuring a. loss not reported to the COMPANY in writing within sixty (60) days after
Clauses termination of this Bond as an entirety;
b. loss due to riot or civil commotion outside the United States of America and
Canada, or any loss due to military, naval or usurped power, war or
insurrection. This Section 2.b., however, shall not apply to loss which occurs
in transit in the circumstances recited in INSURING CLAUSE 3., provided
that when such transit was initiated there was no knowledge on the part of
any person acting for the ASSURED of such riot, civil commotion, military,
naval or usurped power, war or insurrection;
c. loss resulting from the effects of nuclear fission or fusion or radioactivity;
d. loss of potential income including, but not limited to, interest and dividends
not realized by the ASSURED or by any customer of the ASSURED;
e. damages of any type for which the ASSURED is legally liable, except
compensatory damages, but not multiples thereof, arising from a loss
covered under this Bond;
f. costs, fees and expenses incurred by the ASSURED in establishing the
existence of or amount of loss under this Bond, except to the extent covered
under INSURING CLAUSE 11.;
g. loss resulting from indirect or consequential loss of any nature;
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 11 of 19

Conditions and
Limitations
General Exclusions - h. loss resulting from dishonest acts by any member of the Board of Directors
Applicable to All Insuring or Board of Trustees of the ASSURED who is not an Employee, acting
Clauses alone or in collusion with others;
(continued) i. loss, or that part of any loss, resulting solely from any violation by the
ASSURED or by any Employee:
(1)
of any law regulating:
a. the issuance, purchase or sale of securities,
b. securities transactions on security or commodity exchanges or
the over the counter market,
c. investment companies,
d. investment advisors, or
(2)
of any rule or regulation made pursuant to any such law; or
j. loss of confidential information, material or data;
k. loss resulting from voice requests or instructions received over the
telephone, provided however, this Section 2.k. shall not apply to INSURING
CLAUSE 7. or 9.
Specific Exclusions - 3 . This Bond does not directly or indirectly cover:
Applicable To All Insuring a. loss caused by an Employee, provided, however, this Section 3.a. shall not
Clauses Except Insuring apply to loss covered under INSURING CLAUSE 2. or 3. which results
Clause 1. directly from misplacement, mysterious unexplainable disappearance, or
damage or destruction of Property;
b. loss through the surrender of property away from premises of the ASSURED
as a result of a threat:
(1)
to do bodily harm to any natural person, except loss of Property in
transit in the custody of any person acting as messenger of the
ASSURED, provided that when such transit was initiated there was no
knowledge by the ASSURED of any such threat, and provided further
that this Section 3.b. shall not apply to INSURING CLAUSE 7., or
(2)
to do damage to the premises or Property of the ASSURED;
c. loss resulting from payments made or withdrawals from any account
involving erroneous credits to such account;
d. loss involving Items of Deposit which are not finally paid for any reason
provided however, that this Section 3.d. shall not apply to INSURING
CLAUSE 10.;
e. loss of property while in the mail;
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 12 of 19

Conditions and
Limitations
Specific Exclusions - f. loss resulting from the failure for any reason of a financial or depository
Applicable To All Insuring institution, its receiver or other liquidator to pay or deliver funds or other
Clauses Except Insuring Property to the ASSURED provided further that this Section 3.f. shall not
Clause 1. apply to loss of Property resulting directly from robbery, burglary,
(continued) misplacement,mysteriousunexplainabledisappearance,damage,
destruction or removal from the possession, custody or control of the
ASSURED.
g. loss of Property while in the custody of a Transportation Company,
provided however, that this Section 3.g. shall not apply to INSURING
CLAUSE 3.;
h. loss resulting from entries or changes made by a natural person with
authorized access to a Computer System who acts in good faith on
instructions, unless such instructions are given to that person by a software
contractor or its partner, officer, or employee authorized by the ASSURED to
design, develop, prepare, supply, service, write or implement programs for
the ASSURED's Computer System; or
i. loss resulting directly or indirectly from the input of data into a Computer
System terminal, either on the premises of the customer of the ASSURED
or under the control of such a customer, by a customer or other person who
had authorized access to the customer's authentication mechanism.
Specific Exclusions - 4 . This bond does not directly or indirectly cover:
Applicable To All Insuring a. loss resulting from the complete or partial non-payment of or default on any
Clauses Except Insuring loan whether such loan was procured in good faith or through trick, artifice,
Clauses 1., 4., And 5. fraud or false pretenses; provided, however, this Section 4.a. shall not apply
to INSURING CLAUSE 8.;
b. loss resulting from forgery or any alteration;
c. loss involving a counterfeit provided, however, this Section 4.c. shall not
apply to INSURING CLAUSE 5. or 6.
Limit Of Liability/Non- 5 . At all times prior to termination of this Bond, this Bond shall continue in force for
Reduction And Non- the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS,
Accumulation Of Liability notwithstanding any previous loss for which the COMPANY may have paid or be
liable to pay under this Bond provided, however, that the liability of the COMPANY
under this Bond with respect to all loss resulting from:
a. any one act of burglary, robbery or hold-up, or attempt thereat, in which no
Employee is concerned or implicated, or
b. any one unintentional or negligent act on the part of any one person
resulting in damage to or destruction or misplacement of Property, or
c. all acts, other than those specified in a. above, of any one person, or
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 13 of 19

Conditions and
Limitations
Limit Of Liability/Non- d. any one casualty or event other than those specified in a., b., or c. above,
Reduction And Non- shall be deemed to be one loss and shall be limited to the applicable LIMIT OF
Accumulation Of Liability LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of
(continued) the total amount of such loss or losses and shall not be cumulative in amounts
from year to year or from period to period.
All acts, as specified in c. above, of any one person which
i. directly or indirectly aid in any way wrongful acts of any other person or
persons, or
ii. permit the continuation of wrongful acts of any other person or persons
whether such acts are committed with or without the knowledge of the wrongful
acts of the person so aided, and whether such acts are committed with or without
the intent to aid such other person, shall be deemed to be one loss with the
wrongful acts of all persons so aided.
Discovery 6 . This Bond applies only to loss first discovered by an officer of the ASSURED
during the BOND PERIOD. Discovery occurs at the earlier of an officer of the
ASSURED being aware of:
a. facts which may subsequently result in a loss of a type covered by this Bond,
or
b. an actual or potential claim in which it is alleged that the ASSURED is liable
to a third party,
regardless of when the act or acts causing or contributing to such loss occurred,
even though the amount of loss does not exceed the applicable DEDUCTIBLE
AMOUNT, or the exact amount or details of loss may not then be known.
Notice To Company - 7 . a. The ASSURED shall give the COMPANY notice thereof at the earliest
Proof - Legal Proceedings practicable moment, not to exceed sixty (60) days after discovery of loss, in
Against Company an amount that is in excess of 50% of the applicable DEDUCTIBLE
AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
b. The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to,
with full particulars within six (6) months after such discovery.
c. Securities listed in a proof of loss shall be identified by certificate or bond
numbers, if issued with them.
d. Legal proceedings for the recovery of any loss under this Bond shall not be
brought prior to the expiration of sixty (60) days after the proof of loss is filed
with the COMPANY or after the expiration of twenty-four (24) months from
the discovery of such loss.
e. This Bond affords coverage only in favor of the ASSURED. No claim, suit,
action or legal proceedings shall be brought under this Bond by anyone
other than the ASSURED.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 14 of 19

Conditions and
Limitations
Notice To Company - f. Proof of loss involving Voice Initiated Funds Transfer Instruction shall
Proof - Legal Proceedings include electronic recordings of such instructions.
Against Company
(continued)
Deductible Amount 8 . The COMPANY shall not be liable under any INSURING CLAUSES of this Bond
on account of loss unless the amount of such loss, after deducting the net amount
of all reimbursement and/or recovery obtained or made by the ASSURED, other
than from any Bond or policy of insurance issued by an insurance company and
covering such loss, or by the COMPANY on account thereof prior to payment by
the COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in
ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event
for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the
DECLARATIONS.
There shall be no deductible applicable to any loss under INSURING CLAUSE 1.
sustained by any Investment Company.
Valuation 9 . BOOKS OF ACCOUNT OR OTHER RECORDS
The value of any loss of Property consisting of books of account or other records
used by the ASSURED in the conduct of its business shall be the amount paid by
the ASSURED for blank books, blank pages, or other materials which replace the
lost books of account or other records, plus the cost of labor paid by the
ASSURED for the actual transcription or copying of data to reproduce such books
of account or other records.
The value of any loss of Property other than books of account or other records
used by the ASSURED in the conduct of its business, for which a claim is made
shall be determined by the average market value of such Property on the
business day immediately preceding discovery of such loss provided, however,
that the value of any Property replaced by the ASSURED with the consent of the
COMPANY and prior to the settlement of any claim for such Property shall be the
actual market value at the time of replacement.
In the case of a loss of interim certificates, warrants, rights or other securities, the
production of which is necessary to the exercise of subscription, conversion,
redemption or deposit privileges, the value of them shall be the market value of
such privileges immediately preceding their expiration if said loss is not discovered
until after their expiration. If no market price is quoted for such Property or for
such privileges, the value shall be fixed by agreement between the parties.
OTHER PROPERTY
The value of any loss of Property, other than as stated above, shall be the actual
cash value or the cost of repairing or replacing such Property with Property of
like quality and value, whichever is less.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 15 of 19

Conditions and
Limitations
(continued)
Securities Settlement 10 . In the event of a loss of securities covered under this Bond, the COMPANY may,
at its sole discretion, purchase replacement securities, tender the value of the
securities in money, or issue its indemnity to effect replacement securities.
The indemnity required from the ASSURED under the terms of this Section
against all loss, cost or expense arising from the replacement of securities by the
COMPANY'S indemnity shall be:
a. for securities having a value less than or equal to the applicable
DEDUCTIBLE AMOUNT - one hundred (100%) percent;
b. for securities having a value in excess of the DEDUCTIBLE AMOUNT but
within the applicable LIMIT OF LIABILITY - the percentage that the
DEDUCTIBLE AMOUNT bears to the value of the securities;
c. for securities having a value greater than the applicable LIMIT OF LIABILITY
- the percentage that the DEDUCTIBLE AMOUNT and portion in excess of
the applicable LIMIT OF LIABILITY bears to the value of the securities.
The value referred to in Section 10.a., b., and c. is the value in accordance with
Section 9, Valuation, regardless of the value of such securities at the time the loss
under the COMPANY'S indemnity is sustained.
The COMPANY is not required to issue its indemnity for any portion of a loss of
securities which is not covered by this Bond; however, the COMPANY may do so
as a courtesy to the ASSURED and at its sole discretion.
The ASSURED shall pay the proportion of the Company's premium charge for the
Company's indemnity as set forth in Section 10.a., b., and c. No portion of the
LIMIT OF LIABILITY shall be used as payment of premium for any indemnity
purchased by the ASSURED to obtain replacement securities.
Subrogation - Assignment - 11. In the event of a payment under this Bond, the COMPANY shall be subrogated to
Recovery all of the ASSURED'S rights of recovery against any person or entity to the extent
of such payment. On request, the ASSURED shall deliver to the COMPANY an
assignment of the ASSURED'S rights, title and interest and causes of action
against any person or entity to the extent of such payment.
Recoveries, whether effected by the COMPANY or by the ASSURED, shall be
applied net of the expense of such recovery in the following order:
a. first, to the satisfaction of the ASSURED'S loss which would otherwise have
been paid but for the fact that it is in excess of the applicable LIMIT OF
LIABILITY,
b. second, to the COMPANY in satisfaction of amounts paid in settlement of
the ASSURED'S claim,
c. third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE
AMOUNT, and
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 16 of 19

Conditions and
Limitations
Subrogation - Assignment - d. fourth, to the ASSURED in satisfaction of any loss suffered by the
Recovery ASSURED which was not covered under this Bond.
(continued) Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a
recovery under this section.
Cooperation Of Assured 12 . At the COMPANY'S request and at reasonable times and places designated by
the COMPANY, the ASSURED shall:
a. submit to examination by the COMPANY and subscribe to the same under
oath,
b. produce for the COMPANY'S examination all pertinent records, and
c. cooperate with the COMPANY in all matters pertaining to the loss.
The ASSURED shall execute all papers and render assistance to secure to the
COMPANY the rights and causes of action provided for under this Bond. The
ASSURED shall do nothing after loss to prejudice such rights or causes of action.
Termination 13 . If the Bond is for a sole ASSURED, it shall not be terminated unless written notice
shall have been given by the acting party to the affected party and to the
Securities and Exchange Commission, Washington, D.C., not less than sixty (60)
days prior to the effective date of such termination.
If the Bond is for a joint ASSURED, it shall not be terminated unless written notice
shall have been given by the acting party to the affected party, and by the
COMPANY to all ASSURED Investment Companies and to the Securities and
Exchange Commission, Washington, D.C., not less than sixty (60) days prior to
the effective date of such termination.
This Bond will terminate as to any one ASSURED, other than an Investment
Company:
a. immediately on the taking over of such ASSURED by a receiver or other
liquidator or by State or Federal officials, or
b. immediately on the filing of a petition under any State or Federal statute
relative to bankruptcy or reorganization of the ASSURED, or assignment for
the benefit of creditors of the ASSURED, or
c. immediately upon such ASSURED ceasing to exist, whether through merger
into another entity, disposition of all of its assets or otherwise.
The COMPANY shall refund the unearned premium computed at short rates in
accordance with the standard short rate cancellation tables if terminated by the
ASSURED or pro rata if terminated for any other reason.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 17 of 19

Conditions and
Limitations
Termination If any partner, director, trustee, or officer or supervisory employee of an
(continued) ASSURED not acting in collusion with an Employee learns of any dishonest act
committed by such Employee at any time, whether in the employment of the
ASSURED or otherwise, whether or not such act is of the type covered under this
Bond, and whether against the ASSURED or any other person or entity, the
ASSURED:
a. shall immediately remove such Employee from a position that would enable
such Employee to cause the ASSURED to suffer a loss covered by this
Bond; and
b. within forty-eight (48) hours of learning that an Employee has committed
any dishonest act, shall notify the COMPANY, of such action and provide full
particulars of such dishonest act.
The COMPANY may terminate coverage as respects any Employee sixty (60)
days after written notice is received by each ASSURED Investment Company
and the Securities and Exchange Commission, Washington, D.C. of its desire to
terminate this Bond as to such Employee.
Other Insurance 14 . Coverage under this Bond shall apply only as excess over any valid and collectible
insurance, indemnity or suretyship obtained by or on behalf of:
a. the ASSURED,
b. a Transportation Company, or
c. another entity on whose premises the loss occurred or which employed the
person causing the loss or engaged the messenger conveying the Property
involved.
Conformity 15 . If any limitation within this Bond is prohibited by any law controlling this Bond's
construction, such limitation shall be deemed to be amended so as to equal the
minimum period of limitation provided by such law.
Change or Modification 16 . This Bond or any instrument amending or affecting this Bond may not be changed
or modified orally. No change in or modification of this Bond shall be effective
except when made by written endorsement to this Bond signed by an authorized
representative of the COMPANY.
If this Bond is for a sole ASSURED, no change or modification which would
adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
days after written notice has been furnished to the Securities and Exchange
Commission, Washington, D.C., by the acting party.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 18 of 19

Conditions And
Limitations
Change or Modification If this Bond is for a joint ASSURED, no charge or modification which would
(continued) adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
days after written notice has been furnished to all insured Investment Companies
and to the Securities and Exchange Commission, Washington, D.C., by the
COMPANY.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 19 of 19

ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 1
To be attached to and
form a part of Policy No. 81951478
Issued to: MACQUARIE FUNDS
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS
It is agreed that this insurance does not apply to the extent that trade or economic sanctions or other similar laws or
regulations prohibit the coverage provided by this insurance.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and
conditions of coverage.
All other terms, conditions and limitations of this Policy shall remain unchanged.

14-02-9228 (2/2010)

Page 1


ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 2
To be attached to and
form a part of Policy No. 81951478
Issued to: MACQUARIE FUNDS
NAME OF ASSURED ENDORSEMENT
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:
Macquarie Funds
Delaware Group Adviser Funds
Delaware Diversified Income Fund
Delaware Global Real Estate Opportunities Fund
Delaware U.S. Growth Fund
Delaware Group Cash Reserve
Delaware Investments Ultrashort Fund
Delaware Investments Ultrashort Fund (formerly, Delaware Cash Reserve Fund as of 1/5/16)
Delaware Group Equity Funds I
Delaware Mid Cap Value Fund
Delaware Group Equity Funds II
Delaware Value Fund
Delaware Group Equity Funds IV
Delaware Smid Cap Growth Fund
Delaware HealthCare Fund
Delaware Small Cap Growth Fund
Delaware Covered Call Strategy Fund
Delaware Equity Income Fund
Delaware Floating Rate II Fund
Delaware Fund for Income
Delaware Global Equity Fund
Delaware Government Cash Management Fund
Delaware Growth and Income Fund
Delaware Growth Equity Fund
Delaware Hedged U.S. Equity Opportunities Fund
Delaware International Fund
Delaware International Opportunities Bond Fund
Delaware Investment Grade Fund
Delaware Limited Duration Bond Fund
Delaware Opportunity Fund
Delaware Premium Income Fund
Delaware Strategic Income II Fund
Delaware Special Situations Fund
Delaware Total Return Fund

Delaware Group Equity Funds V
Delaware Small Cap Core Fund
Delaware Small Cap Value Fund
Delaware Wealth Builder Fund
Delaware Group Foundation Funds
Delaware Foundation Growth Allocation Fund
Delaware Foundation Conservative Allocation Fund
Delaware Strategic Allocation Fund
Delaware Group Global & International Funds
Delaware Emerging Markets Fund
Delaware Global Value Fund
Delaware International Value Equity Fund
Delaware International Small Cap Fund
Delaware Asia Select Fund
Delaware Group Government Funds
Delaware Strategic Income Fund
Delaware Emerging Markets Debt Corporate Fund
Delaware Group Income Funds
Delaware Corporate Bond Fund
Delaware Extended Duration Bond Fund
Delaware Floating Rate Fund
Delaware High-Yield Opportunities Fund
Delaware Group Limited-Term Government Funds
Delaware Limited-Term Diversified Income Fund
Delaware Tax-Exempt Income Fund
Delaware Tax-Exempt Opportunities Fund
Delaware Tax-Free California II Fund
Delaware Tax-Free New Jersey Fund
Delaware Tax-Free New York II Fund
Delaware Tax-Free Oregon Fund
Delaware Group State Tax-Free Income Trust
Delaware Tax-Free Pennsylvania Fund
Delaware Group Tax Free-Fund
Delaware Tax-Free USA Fund
Delaware Tax-Free USA Intermediate Fund
Delaware Pooled Trust
The Select 20 Portfolio
Macquarie Core Plus Bond Portfolio
Macquarie Emerging Markets Portfolio
The Focus Smid- Cap Growth Equity Portfolio
Macquarie High Yield Bond Portfolio
The International Equity Portfolio
Macquarie Labor Select International Equity Portfolio

The Large-Cap Growth Equity Portfolio
Macquarie Large Cap Value Portfolio
Delaware Global Listed Real Assets Fund
Macquarie Emerging Markets Portfolio II
Delaware VIP Trust
VIP- Limited-Term Diversified Income Series
VIP-DIVERSIFIED INCOME Series
VIP-EMERGING MARKETS Series
VIP- Smid Cap Core Series
VIP-HIGH YIELD Series
VIP-INTERNATIONAL VALUE EQUITY Series
VIP-VALUE Series
VIP-REIT SERIES
VIP-SMALL CAP VALUE Series
VIP-US GROWTH Series
VIP-COVERED CALL STRATEGY Series
VIP-EQUITY INCOME Series
VIP-FUND FOR INCOME Series
VIP-GOVERNMENT CASH MANAGEMENT Series
VIP-GROWTH AND INCOME Series
VIP-GROWTH EQUITY Series
VIP-INTERNATIONAL Series
VIP-INVESTMENT GRADE Series
VIP-LIMITED DURATION BOND Series
VIP-OPPORTUNITY Series
VIP-SPECIAL SITUATION Series
VIP-TOTAL RETURN Series
Voyageur Insured Funds
Delaware Tax-Free Arizona Fund
Voyageur Intermediate Tax Free Funds
Delaware Tax-Free Minnesota Intermediate Fund
Voyageur Mutual Funds
Delaware Minnesota High-Yield Municipal Bond Fund
Delaware National High-Yield Municipal Bond Fund
Delaware Tax-Free California Fund
Delaware Tax-Free Idaho Fund
Delaware Tax-Free New York Fund
Voyageur Mutual Funds II
Delaware Tax-Free Colorado Fund
Voyageur Mutual Funds III
Delaware Select Growth Fund
Voyageur Tax Free Funds
Delaware Tax-Free Minnesota Fund
Closed-End Funds
Delaware Investments Dividend and Income Fund, Inc.

Delaware Investments Colorado Municipal Income Fund, Inc.
Delaware Investments National Municipal Income Fund
Delaware Investments Minnesota Municipal Income Fund ll Inc.
Delaware Enhanced Global Dividend and Income Fund
Delaware Ivy High Income Opportunities Fund
Delaware Ivy Funds
Delaware Ivy Accumulative Fund
Delaware Ivy Securian Core Bond Fund
Delaware Ivy Securian Real Estate Securities Fund
Delaware Ivy Apollo Multi-Asset Income Fund
Delaware Ivy Apollo Strategic Income Fund
Delaware Ivy Asset Strategy Fund
Delaware Ivy Balanced Fund
Delaware Ivy Corporate Bond Fund
Delaware Ivy California Municipal High Income Fund
Delaware Ivy Cash Management Fund
SPAMAP-Delaware Ivy Fund
Delaware Ivy Core Equity Fund
Delaware Ivy Crossover Credit Fund
Delaware Ivy Pzena International Value Fund
Delaware Ivy Emerging Markets Equity Fund
Delaware Ivy Energy Fund
Delaware Ivy Global Bond Fund
Delaware Ivy Global Equity Income Fund
Delaware Ivy Global Growth Fund
Delaware Ivy Government Securities Fund
Delaware Ivy High Income Fund
Ivy High Income Opportunities Fund
Delaware Ivy International Small Cap Fund
Delaware Ivy International Core Equity Fund
Delaware Ivy Large Cap Growth Fund
Delaware Ivy Lasalle Global Real Estate Fund
Delaware Ivy Limited-Term Bond Fund
Delaware Ivy Managed Intl Opportunities Fund
Delaware Ivy Mid Cap Growth Funds
Delaware Ivy Mid Cap Income Opportunities Fund
Delaware Ivy Government Money Market Fund
Delaware Ivy Municipal Bond Fund
Delaware Ivy Municipal High Income Fund
Delaware Ivy Natural Resources Fund
Delaware Ivy Pictet Emerg Mkts Local Curr Debt Fund
Delaware Ivy Pictet Targeted Return Bond Fund
Delaware Ivy Pinebridge High Yield Fund
Delaware Ivy Proshares Int Rate Hgd Hgh Yld Indx Fund
Delaware Ivy Proshares Msci Acwi Index Fund
Delaware Ivy Proshares Russell 2000 Div Grw Idx Fund
Delaware Ivy Proshares S&P 500 Bond Index Fund
Delaware Ivy Proshares S&P 500 Div Aristo Index Fund
Delaware Ivy Science & Technology Fund
Delaware Ivy Small Cap Core Fund
Delaware Ivy Small Cap Growth Fund
Delaware Ivy Value Fund

Delaware Ivy Emerging Markets Local Currency Debt Fund (formerly, Delaware Ivy Pictet Emerging Markets Local
Currency Debt Fund)
Delaware Climate Solutions Fund (formerly, Delaware Ivy Energy Fund)
Delaware Global Value Equity Fund (formerly, Delaware Ivy Global Equity Income Fund)
Delaware Ivy International Value Fund (formerly, Delaware Ivy Pzena International Value Fund)
Delaware Global Real Estate Fund (formerly, Delaware Ivy LaSalle Global Real Estate Fund)
Delaware Ivy Multi-Asset Income Fund (formerly, Delaware Apollo Multi-Asset Income Fund)
Delaware Sustainable Equity Income Fund (formerly Delaware Ivy S&P 500 Dividend Aristocrats Index Fund)
Delaware Ivy Core Bond Fund (formerly, Delaware Ivy Securian Core Bond Fund)
Delaware Real Estate Securities Fund (formerly, Delaware Ivy Securian Real Estate Securities Fund)
Delaware Ivy Smid Cap Core Fund (formerly, Delaware Ivy Small Cap Core Fund)
Delaware Ivy Strategic Income Fund (formerly, Delaware Ivy Apollo Strategic Income Fund)
Delaware Ivy Systematic Emerging Markets Equity Fund (formerly, Delaware Ivy Emerging Markets Equity Fund)
Delaware Ivy Total Return Bond Fund (formerly, Delaware Ivy Pictet Targeted Return Bond Fund)
Delaware Ivy Wilshire Global Allocation Fund
Ivy Variable Insurance Portfolios
Delaware Ivy VIP Asset Strategy
Delaware Ivy VIP Balanced
Delaware Ivy VIP Core Equity
Delaware Ivy VIP Corporate Bond
Delaware Ivy VIP Energy
Delaware VIP Global Value Equity (formerly, Delaware Ivy VIP Global Equity Income)
Delaware Ivy VIP Global Growth
Delaware Ivy VIP Growth
Delaware Ivy VIP High Income
Delaware Ivy VIP International Core Equity
Delaware Ivy VIP Limited-Term Bond
Delaware Ivy VIP Mid Cap Growth
Delaware Ivy VIP Natural Resources
Delaware Ivy VIP Pathfinder Aggressive
Delaware Ivy VIP Pathfinder Conservative
Delaware Ivy VIP Pathfinder Moderate
Delaware Ivy VIP Pathfinder Moderate - Managed Volatility
Delaware Ivy VIP Pathfinder Moderately Aggressive
Delaware Ivy VIP Pathfinder Moderately Aggressive - Managed Volatility
Delaware Ivy VIP Pathfinder Moderately Conservative
Delaware Ivy VIP Pathfinder Moderately Conservative - Managed Volatility
Delaware Ivy VIP Science and Technology
Delaware VIP Real Estate Securities (formerly, Delaware Ivy VIP Securian Real Estate Securities)
Delaware Ivy VIP Small Cap Growth
Delaware Ivy VIP Smid Cap Core (formerly, Delaware Ivy VIP Small Cap Core)
Delaware Ivy VIP Value
Macquarie Energy Solutions Fund, LLC
Delaware Enhanced High Yield Municipal, LLC.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
All other terms, conditions and limitations of this Policy shall remain unchanged.

ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 6

FEDERAL INSURANCE COMPANY
Endorsement No.:
 3
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
TELEFACSIMILE INSTRUCTION FRAUD ENDORSEMENT
It is agreed that this Bond is amended as follows:
1 . By adding the following INSURING CLAUSE:
12 . Telefacsimile Instruction
Loss resulting directly from the ASSURED having transferred, paid or delivered any funds
or other Property or established any credit, debited any account or given any value on the
faith of any fraudulent instructions sent by a Customer, financial institution or another
office of the ASSURED by Telefacsimile directly to the ASSURED authorizing or
acknowledging the transfer, payment or delivery of funds or Property or the
establishment of a credit or the debiting of an account or the giving of value by the
ASSURED where such Telefacsimile instructions:
a. bear a valid test key exchanged between the ASSURED and a Customer or
another financial institution with authority to use such test key for Telefacsimile
instructions in the ordinary course of business, but which test key has been
wrongfully obtained by a person who was not authorized to initiate, make, validate
or authenticate a test key arrangement, and
b. fraudulently purport to have been sent by such Customer or financial institution
when such Telefacsimile instructions were transmitted without the knowledge or
consent of such Customer or financial institution by a person other than such
Customer or financial institution and which bear a Forgery of a signature,
provided that the Telefacsimile instruction was verified by a direct call back to an
employee of the financial institution, or a person thought by the ASSURED to be
the Customer, or an employee of another financial institution.
2 . By deleting from Section 1., Definitions, the definition of Customer in its entirety, and substituting
the following:
d. Customer means an individual, corporate, partnership, trust customer, shareholder or
subscriber of an Investment Company which has a written agreement with the ASSURED
for Voice Initiated Funds Transfer Instruction or Telefacsimile Instruction.
ICAP Bond
Form 17-02-2367 (Rev. 10-03) Page 1

3 . By adding to Section 1., Definitions, the following:
r. Telefacsimile means a system of transmitting written documents by electronic signals
over telephone lines to equipment maintained by the ASSURED for the purpose of
reproducing a copy of said document. Telefacsimile does not mean electronic
communication sent by Telex or similar means of communication, or through an
electronic communication system or through an automated clearing house.
4 . By adding to Section 3., Specific Exclusions Applicable to All Insuring Clauses Except Insuring
Clause 1. the following:
j. loss resulting directly or indirectly from Telefacsimile instructions provided, however, this
exclusion shall not apply to this INSURING CLAUSE.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond
Form 17-02-2367 (Rev. 10-03) Page 2

FEDERAL INSURANCE COMPANY
Endorsement No.:
 4
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
AUTOMATED TELEPHONE TRANSACTION ENDORSEMENT
It is agreed that this Bond is amended as follows:
1 . By adding the following INSURING CLAUSE:
13. Automated Telephone System Transaction
Loss resulting directly from the ASSURED having transferred funds on the faith of any
Automated Phone System (APS) Transaction, where the request for such APS
Transaction is unauthorized or fraudulent and is made with the intent to deceive. In order for
coverage to apply under this INSURING CLAUSE the ASSURED shall maintain and follow all
APS Designated Procedures. A single failure of the ASSURED to maintain and follow a
particular APS Designated Procedure in a particular APS Transaction will not preclude
coverage under this INSURING CLAUSE.
2 . By adding to Section 1., Definitions, the following:
s. APS Designated Procedures means all of the following procedures:
(1)
No APS Transaction shall be executed unless the shareholder or unitholder to whose
account such an APS Transaction relates has previously elected to APS Transactions.
(Election in Application)
(2)
All APS Transactions shall be logged or otherwise recorded and the records shall be
retained for at least six (6) months. (Logging)
Information contained in the records shall be capable of being retrieved and produced
within a reasonable time after retrieval of specific information is requested, at a success
rate of no less than 85 percent.
(3)
The caller in any request for an APS Transaction, before executing that APS
Transaction must enter a personal identification number (PIN), social security number
and account number. (Identity Test)
If the caller fails to enter a correct PIN within three (3) attempts, the caller must not be
allowed additional attempts during the same telephone call to enter the PIN. The caller
may either be instructed to redial a customer service representative or may be
immediately connected to such a representative. (Limited attempts to Enter PIN)
ICAP Bond
Form 17-02-2345 (Ed. 10-00) Page 1

(4)
A written confirmation of any APS Transaction or change of address shall be mailed to
the shareholder or unitholder to whose account such transaction relates, at the record
address, by the end of the insured's next regular processing cycle, but in no event later
than five (5) business days following such APS Transaction. (Written Confirmation)
(5)
Access to the equipment which permits the entity receiving the APS Transaction
request to process and effect the transaction shall be limited in the following manner:
(Access to APS Equipment)
t. APS Election means any election concerning various account features available to the
shareholder or unitholder which is made through the Automated Phone System by means of
information transmitted by an individual caller through use of a Automated Phone System.
These features include account statements, auto exchange, auto asset builder, automatic
withdrawal, dividend/capital gain options, dividend sweep, telephone balance consent and
change of address.
u. APS Exchange means any exchange of shares or units in a registered account of one fund
into shares or units in an account with the same tax identification number and same
ownership-type code of another fund in the same complex pursuant to exchange privileges of
the two funds, which exchange is requested through the Automated Phone System by
means of information transmitted by an individual caller through use of an Automated Phone
System.
v. APS Purchase means any purchase of shares or units issued by an Investment Company
which is requested through an Automated Phone System.
w. APS Redemption means any redemption of shares or units issued by an Investment
Company which it requested through the telephone by means of information transmitted by an
individual caller through use of a Automated Phone System.
x. APS Transaction means any APS Purchase, APS Redemption, APS Election or APS
Exchange.
y. Automated Phone System means an automated system which receives and converts to
executable instructions transmissions through the Automated Phone System through use of
a touch-tone keypad or other tone system; and always excluding transmissions from a
computer system or part thereof.
3 . By adding the following Section after Section 4., Specific Exclusions-Applicable To All Insuring
Clauses Except 1., 4., 5.:
Section 4.A Specific Exclusion-Applicable to Insuring Clause 13
This Bond does not directly or indirectly cover under Insuring Clause 13:
Loss resulting from:
a. the redemption of shares or units, where the proceeds of such redemption are made payable
to other than:
(1)
the shares or units of record,
(2)
a person designated to receive redemption proceeds, or
(3)
a bank account designated to receive redemption proceeds, or
b. the redemption of shares or units, where the proceeds of such redemption are paid by check
mailed to any address, unless such address has either been designated the shareholder or
unitholder by voice through an Automated Phone System or in writing, at least thirty (30) days
prior to such redemption, or
ICAP Bond
Form 17-02-2345 (Ed. 10-00) Page 2

c. the redemption of shares or units, where shareholder or unitholder of the ASSURED
designated bank account of record.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond
Form 17-02-2345 (Ed. 10-00) Page 3

FEDERAL INSURANCE COMPANY
Endorsement No.: 5
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
STOP PAYMENT ORDER OR REFUSAL TO PAY CHECK ENDORSEMENT
It is agreed that this Bond is amended as follows:
1 . By adding the following INSURING CLAUSE:
" 14 . Stop Payment Order or Refusal to Pay Check
Loss resulting directly from the ASSURED being legally liable to pay compensatory damages
for:
a. complying or failing to comply with notice from any customer of the ASSURED or any
authorized representative of such customer, to stop payment on any check or draft made or
drawn upon or against the ASSURED by such customer or by any authorized
representative of such customer, or
b. refusing to pay any check or draft made or drawn upon or against the ASSURED by any
customer of the ASSURED or by any authorized representative of such customer."
2 . By adding the following Specific Exclusion:
"Section 4.A. Specific Exclusions - Applicable to INSURING CLAUSE 14
This Bond does not directly or indirectly cover:
a. liability assumed by the ASSURED by agreement under any contract, unless such liability would
have attached to the ASSURED even in the absence of such agreement,
b. loss arising out of:
(1 ) libel, slander, wrongful entry, eviction, defamation, false arrest, false imprisonment,
malicious prosecution, assault or battery,
(2 ) sickness, disease, physical bodily harm, mental or emotional distress or anguish, or death
of any person, or
(3 ) discrimination."
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond

Form 17-02-2365 (Ed. 10-00)


FEDERAL INSURANCE COMPANY
Endorsement No.:
 6
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
UNAUTHORIZED SIGNATURE ENDORSEMENT
It is agreed that this Bond is amended as follows:
1 . By adding the following INSURING CLAUSE:
15 . Unauthorized Signature
Loss resulting directly from the ASSURED having accepted, paid or cashed any check or
Withdrawal Order made or drawn on or against the account of the ASSURED'S customer
which bears the signature or endorsement of one other than a person whose name and signature
is on file with the ASSURED as a signatory on such account.
It shall be a condition precedent to the ASSURED'S right of recovery under this INSURING
CLAUSE that the ASSURED shall have on file signatures of all the persons who are signatories
on such account.
2 . By adding to Section 1., Definitions, the following:
z. Instruction means a written order to the issuer of an Uncertificated Security requesting that the
transfer, pledge or release from pledge of the specified Uncertificated Security be registered.
aa. Uncertificated Security means a share, participation or other interest in property of or an
enterprise of the issuer or an obligation of the issuer, which is:
(1)
not represented by an instrument and the transfer of which is registered on books
maintained for that purpose by or on behalf of the issuer, and
(2)
of a type commonly dealt in on securities exchanges or markets, and
(3)
either one of a class or series or by its terms divisible into a class or series of shares,
participations, interests or obligations.
ICAP Bond
Form 17-02-5602 (Ed. 10-03) Page 1

bb. Withdrawal Order means a non-negotiable instrument, other than an Instruction, signed by a
customer of the ASSURED authorizing the ASSURED to debit the customer's account in the
amount of funds stated therein.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond
Form 17-02-5602 (Ed. 10-03) Page 2

FEDERAL INSURANCE COMPANY
Endorsement No.: 7
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
CLAIMS EXPENSE ENDORSEMENT
It is agreed that this Bond is amended as follows:
1 . By adding the following INSURING CLAUSE:
17. Claims Expense
Reasonable expense incurred by the ASSURED, solely for independent firms or individuals to
determine the amount of loss where:
(1)
the loss is covered under the Bond, and
(2)
the loss is in excess of the applicable DEDUCTIBLE AMOUNT.
2 . Under General Exclusions-Applicable To All Insuring Clauses, Section 2.f. does not apply to loss
covered under this INSURING CLAUSE.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond

Form 17-02-6282 (Ed. 11-04)


FEDERAL INSURANCE COMPANY
Endorsement No.:
 8
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
NON-CUMULATIVE ENDORSEMENT
It is agreed that in the event of a loss covered under this Bond and also covered under FEDERAL
INSURANCE COMPANY'S Bond No. J05974689 issued to MACQUARIE MANAGEMENT HOLDINGS,
INC., the SINGLE LOSS LIMIT OF LIABILITY under this Bond shall be reduced by any payment under Bond
No. J05974689 and only the remainder, if any, shall be applicable to such loss hereunder.
Name and Address of Assured:
MACQUARIE FUNDS
610 MARKET STREET
PHILADELPHIA, PA 19106
Signature of Assured's Representative
Position/Title
Date
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond

Form 17-02-0955 (Rev. 1-97)


FEDERAL INSURANCE COMPANY
Endorsement No. 9
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
REVISE ITEM 2. ENDORSEMENT
It is agreed that this Bond is amended by deleting ITEM 2. in its entirety on the DECLARATIONS and
substituting the following:
ITEM 2. LIMITS OF LIABILITY-DEDUCTIBLE AMOUNTS:
If "Not Covered" is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE
and any other reference to such INSURING CLAUSE in this Bond shall be deemed to be deleted. There
shall be no deductible applicable to any loss under INSURING CLAUSE 1 sustained by any
Investment Company.
SINGLE LOSS DEDUCTIBLE
INSURING CLAUSE LIMIT OF LIABILITY AMOUNT
1 . Employee $ 40,000,000 $ 0
2 . On Premises $ 40,000,000 $ 50,000
3 . In Transit $ 40,000,000 $ 50,000
4 . Forgery or Alteration $ 40,000,000 $ 50,000
5 . Extended Forgery $ 40,000,000 $ 50,000
6 . Counterfeit Money $ 40,000,000 $ 50,000
7 . Threats to Person $ 40,000,000 $ 50,000
8 . Computer System $ 40,000,000 $ 50,000
9 . Voice Initiated Funds Transfer Instruction $ 40,000,000 $ 50,000
10 . Uncollectible Items of Deposit $ 50,000 $ 10,000
11 . Audit Expense $ 100,000 $ 0
12 . Telefacsimile Instruction Fraud $ 40,000,000 $ 50,000
13 . Automated Telephone Transaction $ 40,000,000 $ 50,000
14 . Stop Payment Order or Refusal to Pay Check $ 40,000,000 $ 50,000
15 . Unauthorized Signature $ 50,000 $ 10,000
16 . Extended Computer Systems $ 40,000,000 $ 50,000
17 . Claims Expense $ 100,000 $ 0
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025



Authorized Representative
ICAP Bond
Form 17-02-1582 (Ed. 5-98) Page 2

FEDERAL INSURANCE COMPANY
Endorsement No.: 10
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
AMEND DISCOVERY ENDORSEMENT
It is agreed that this Bond is amended by deleting Section 6., Discovery, in its entirety and substituting the
following:
6 . Discovery
This Bond applies only to loss first discovered by the General Counsel or Risk Management of the
ASSURED during the BOND PERIOD. Discovery occurs at the earlier of the General Counsel or
Risk Management of the ASSURED being aware of:
a. facts which may subsequently result in a loss of a type covered by this Bond, or
b. an actual or potential claim in which it is alleged that the ASSURED is liable to a third party,
regardless of when the act or acts causing or contributing to such loss occurred, even though the
amount of loss does not exceed the applicable DEDUCTIBLE AMOUNT, or the exact amount or
details of loss may not then be known.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond

Form 17-02-6260 (Ed. 6-04)


FEDERAL INSURANCE COMPANY
Endorsement No.:
 11
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
AMENDING DEFINITION OF EMPLOYEE-FORMER EMPLOYEES ENDORSEMENT
It is agreed that this Bond is amended by adding to the definition of Employee in Section 1., Definitions, the
following:
(10 ) a natural person who resigns, retires or is terminated from the service of the ASSURED during the
BOND PERIOD provided that this applies:
a. for a period of ninety (90) days subsequent to such resignation, retirement or termination but
not beyond the date of expiration or termination of the Bond; and
b. if such resignation, retirement or termination has not arisen from or in connection with the
discovery by the ASSURED of any actual or alleged dishonest, fraudulent or criminal act(s) of
such person.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond

Form 17-02-2335 (Ed. 10-00)


ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 12
To be attached to and
form a part of Bond No. 81951478
Issued to: MACQUARIE FUNDS
DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
ENDORSEMENT
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
1 . The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.
2 . The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced with
the following:
If this Bond is for a joint ASSURED, no change or modification which would adversely affect the
rights of the ASSURED shall be effective prior to sixty (60) days after written notice has been
furnished to all insured Investment Companies and the Securities and Exchange Commission,
Washington, D.C., by the COMPANY.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the
terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.

17-02-2437 (12/2006) rev.

Page 1


ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 13
To be attached to and
form a part of Bond No. 81951478
Issued to: MACQUARIE FUNDS
AMENDED NOTICE ENDORSEMENT
It is agreed Section 7., Notice to Company-Proof-Legal Proceedings Against Company, is amended by deleting in
its entirety paragraph a. and substituting the following:
a. The ASSURED shall give the COMPANY notice thereof at the earliest practicable moment, not to
exceed ninety (90) days after discovery of loss, in an amount that is in excess of 50% of the applicable
DEDUCTIBLE AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms
and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.

14-02-12867 (02/2007)

Page 1


ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 14
To be attached to and
form a part of Bond No. 81951478
Issued to: MACQUARIE FUNDS
AUTOMATIC INCREASE IN LIMITS ENDORSEMENT
In consideration of the premium charged, it is agreed that GENERAL AGREEMENTS, Section C. Additional
Offices Or Employees-Consolidation, Merger Or Purchase Or Acquisition Of Assets Or Liabilities-Notice To
Company, is amended by adding the following subsection:
Automatic Increase in Limits for Investment Companies
If an increase in bonding limits is required pursuant to rule 17g-1 of the Investment Company Act of 1940 ("the
Act"), due to:
(i) the creation of a new Investment Company, other than by consolidation or merger with, or purchase or
acquisition of assets or liabilities of, another institution; or
(ii) an increase in asset size of current Investment Companies covered under this Bond,
then the minimum required increase in limits shall take place automatically without payment of additional
premium for the remainder of the BOND PERIOD.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms
and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.

14-02-14098 (04/2008)

Page 1


FEDERAL INSURANCE COMPANY
Endorsement No.: 15
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
AUTOMATIC ACQUISITION PERCENTAGE THRESHOLD ENDORSEMENT
It is agreed that this Bond is amended by deleting in its entirety General Agreement C., Additional Offices
or Employees-Consolidation, Merger or Purchase or Acquisition of Assets or Liabilities-Notice To
Company, and substituting the following:
C. Additional Offices or Employees-Consolidation, Merger or Purchase or Acquisition Of Assets or
Liabilities-Notice to Company
If the ASSURED, other than an Investment Company, while this Bond is in force, merges or
consolidates with, or purchases or acquires assets or liabilities of another institution, the ASSURED
shall not have the coverage afforded under this Bond for loss which has:
(1)
occurred or will occur on premises,
(2)
been caused or will be caused by an employee, or
(3)
arisen or will arise out of the assets or liabilities,
of such institution, unless the ASSURED:
a. gives the COMPANY written notice of the proposed consolidation, merger or purchase or
acquisition of assets or liabilities prior to the proposed effective date of such action, and
b. obtains the written consent of the COMPANY to extend some or all of the coverage provided
by this Bond to such additional exposure, and
c. on obtaining such consent, pays to the COMPANY an additional premium.
Notwithstanding anything stated above to the contrary, the COMPANY hereby agrees to provide
coverage which shall be effective on the date of acquisition under this Bond for those acquired
institutions in which the ASSURED owns greater than fifty percent (50%) of the voting stock or voting
rights either directly or through one or more of its subsidiaries for the remainder of the BOND
PERIOD, with no additional premium, provided the acquired institution meets all of the following
conditions:
i. the assets shall not exceed twenty- five percent (25%) of the ASSURED'S assets,
ii. there shall be neither any paid nor pending Bond claim for the three (3) year period prior to the
date of acquisition, and
iii. the ASSURED is not aware of any disciplinary action or proceeding by State or Federal
officials involving the acquired institution as of the date of acquisition.
ICAP Bond
Form 17-02-6247 (Ed. 3-04) Page 1

The COMPANY further agrees that as respects any acquisition that involves a State or Federal
regulatory assisted acquisition or assumption of assets and/or liabilities, coverage shall be provided
under this Bond for the remainder of the BOND PERIOD as long as conditions i. and ii. above are
met. As respects such acquisition or assumption of assets and/or liabilities, coverage applies only to
a Single Loss fully sustained by the ASSURED on or after the date of such acquisition or
assumption. All of the circumstances, conditions or acts causing or contributing to a Single Loss
must occur on or after the date of such acquisition or assumption for coverage to apply regardless of
the time such loss is discovered by the ASSURED.
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.

Date: November 11, 2025


ICAP Bond
Form 17-02-6247 (Ed. 3-04) Page 2

FEDERAL INSURANCE COMPANY
Endorsement No.: 16
Bond Number: 81951478
NAME OF ASSURED: MACQUARIE FUNDS
CO-SURETY ENDORSEMENT
It is agreed that this Bond is amended as follows:
1 . By adding to Section 1., Definitions, the following:
"hh. Controlling Company means FEDERAL INSURANCE COMPANY.
ii. Company means, unless otherwise specified, each insurance company, including the
Controlling Company, executing this Endorsement.
jj. Companies means, unless otherwise specified, all of the insurance companies, including the
Controlling Company, executing this Endorsement."
2 . By adding to Section 5., Limit of Liability/Non-Reduction and Non-Accumulation of Liability, the
following:
"Each COMPANY shall be liable only for such proportion of any Single Loss as the LIMIT OF
LIABILITY underwritten by such Company, as specified in this Endorsement, bears to the LIMIT OF
LIABILITY as stated in ITEM 2. of the DECLARATIONS, but in no event shall any Company be liable
for an amount greater than that underwritten by it."
3 . By adding to Section 7., Notice To Company-Proof-Legal Proceedings Against Company, the following:
"g. In the absence of a request from any Company to pay premiums directly to it, premiums for this
Bond may be paid to the Controlling Company for the account of all Companies.
h. In the absence of a request from any Company that notice of claim and proof of loss be given to
or filed directly with it, the ASSURED giving such notice to and the filing of such proof with the
Controlling Company shall be deemed to be in compliance with the conditions of this Bond for
the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with said
conditions."
4 . By adding to Section 13., Termination, the following:
"The Controlling Company may give notice in accordance with the terms of this Bond terminating the
Bond as an entirety or as to any Employee or ASSURED, and any notice so given shall terminate the
liability of all Companies as an entirety or as to such Employee or ASSURED, as the case may be.
Any Company other than the Controlling Company may give notice in accordance with the terms of
this Bond, terminating the entire liability of such other Company under this Bond or as to any person or
entity.
In the absence of a request from any Company that notice of termination by the ASSURED of this
Bond in its entirety may be given to or filed directly with it, the giving of such notice in accordance with
the terms of this Bond to the Controlling Company shall terminate the liability of all Companies as an
entirety. The ASSURED may terminate the entire liability of any Company, under this Bond by giving
notice of such termination to that Company and by sending a copy of such notice to the Controlling
Company.
ICAP Bond
Form 17-02-2836 (Ed. 5-02) Page 1

In the event of the termination of this Bond as an entirety, no Company shall be liable to the ASSURED
for a greater proportion of any return premium due the ASSURED than the LIMIT OF LIABILITY
underwritten by that Company bears to the LIMIT OF LIABILITY as stated in ITEM 2. of the
DECLARATIONS.
In the event of the termination of this Bond as to any Company, such Company alone shall be liable to
the ASSURED for any return premium due the ASSURED on account of such termination. The
termination of the attached Bond as to any Company other than the Controlling Company shall not
terminate or otherwise affect the liability of the other Companies under this Bond."
5 . By adding the following Section:
"Section 17. Controlling Company
The execution by the Controlling Company of the DECLARATIONS, Endorsements 1-18, shall
constitute execution by all the Companies signing this Endorsement.
In the event this Bond is modified during the BOND PERIOD, the Controlling Company shall notify
the Companies or their respective representatives, in writing, of such change. Each Company shall
be deemed to agree to such modification, unless such Company notifies the Controlling Company or
the Controlling Company's representative in writing, that they do not agree to such modification. If a
Company fails to object to a modification within fifteen (15) days of receipt of notice from the
Controlling Company, such Company shall be deemed to agree to such modification."
This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2025.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Underwritten for a SINGLE LOSS FEDERAL INSURANCE COMPANY
LIMIT OF LIABILITY of $25,000,000 Controlling Company
CHUBB & SON
A division of Federal Insurance Company
Manager

Date: November 11, 2025


Underwritten for a SINGLE LOSS ICI Mutual Insurance Co, A Risk Retention
Group
LIMIT OF LIABILITY of $15,000,000
Part of $40,000,000
By
Attorney-in-Fact

ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 17
To be attached to and
form a part of Policy No. 81951478
Issued to: MACQUARIE FUNDS
FRAUDULENT INSTRUCTIONS EXCLUSION ENDORSEMENT (ICAP)
In consideration of the premium charged, it is agreed that the Conditions and Limitations of this Bond is amended
to include the following Section:
Specific Exclusions - Applicable to Insuring Clause 8.:
This Bond does not cover loss resulting directly or indirectly from any transfer, payment or delivery of
Property:
(1) authorized by an Employee; or
(2) arising out of any misrepresentation received by any Employee, agent, broker, factor, commission
merchant, independent contractor, intermediary, finder or other representative of the same general
character of the ASSURED,
whether such transfer, payment or delivery was made in good faith or as a result of trick, artifice, fraud or
false pretenses.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and
conditions of coverage.
All other terms, conditions and limitations of this Policy shall remain unchanged.

MS-307332 (09/2020)

Page 1 of 1


ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 31, 2025
FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 18
To be attached to and
form a part of Bond No. 81951478
Issued to: MACQUARIE FUNDS
EXTENDED COMPUTER SYSTEMS ENDORSEMENT
It is agreed that this Bond is amended as follows:
1. By adding the following INSURING CLAUSE:
Extended Computer Systems
A. Electronic Communication
Loss resulting directly from the ASSURED having transferred, paid or delivered any funds or property,
established any credit, debited any account or given any value on the faith of any electronic
communications directed to the ASSURED, which were transmitted or appear to have been transmitted
through:
(1)
an Electronic Communication System,
(2)
an automated clearing house or custodian, or
(3)
A Telex, TWX, or similar means of communication.
directly into the ASSURED'S Computer System or Communication Terminal, and fraudulently purport
to have been sent by a customer, automated clearing house, custodian, or financial institution, but which
communications were either not sent by said customer, automated clearing house, custodian, or financial
institution, or were fraudulently modified during physical transit of Electronic Media to the ASSURED or
during electronic transmission to the ASSURED'S Computer System or Communication Terminal.
B. Electronic Transmission
Loss resulting directly from a customer of the ASSURED, any automated clearing house, custodian, or
financial institution having transferred, paid or delivered any funds or property, established any credit, debited
any account or given any value on the faith of any electronic communications, purporting to have been
directed by the ASSURED to such customer, automated clearing house, custodian, or financial institution
initiating, authorizing, or acknowledging, the transfer, payment, delivery or receipt of funds or property, which
communications were transmitted through:
(1)
an Electronic Communication System,
(2)
an automated clearing house or custodian, or
(3)
a Telex, TWX, or similar means of communication,

MS-324890 (04/2021)

Page 1 of 3


directly into a Computer System or Communication Terminal of said customer, automated clearing
house, custodian, or financial institution, and fraudulently purport to have been directed by the
ASSURED, but which communications were either not sent by the ASSURED, or were fraudulently
modified during physical transit of Electronic Media from the ASSURED or during electronic transmission
from the ASSURED'S Computer System or Communication Terminal, and for which loss the
ASSURED is held to be legally liable.
2 . By adding to Section 1., Definitions, the following:
Communication Terminal means a teletype, teleprinter or video display terminal, or similar device capable
of sending or receiving information electronically. Communication Terminal does not mean a telephone.
Electronic Communication System means electronic communication operations by Fedwire, Clearing
House Interbank Payment System (CHIPS), Society of Worldwide International Financial Telecommunication
(SWIFT), similar automated interbank communication systems, and Internet access facilities.
Electronic Data means facts or information converted to a form usable in Computer Systems and which is
stored on Electronic Media for use by computer programs.
Electronic Instruction means computer programs converted to a form usable in a Computer System to act
upon Electronic Data.
Electronic Media means the magnetic tape, magnetic disk, optical disk, or any other bulk media on which
data is recorded.
3 . By adding the following Section after Section 4., Specific Exclusions-Applicable to All INSURING CLAUSES
except 1., 4., and 5.:
Section 4.A. Specific Exclusions-Applicable to Extended Computer Systems INSURING CLAUSE
This Bond does not directly or indirectly cover:
a. loss resulting directly or indirectly from Forged, altered or fraudulent negotiable instruments, securities,
documents or written instruments used as source documentation in the preparation of Electronic Data;
b. loss of negotiable instruments, securities, documents or written instruments except as converted to
Electronic Data and then only in that converted form;
c. loss resulting from mechanical failure, faulty construction, error in design, latent defect, wear or tear,
gradual deterioration, electrical disturbance, Electronic Media failure or breakdown or any malfunction or
error in programming or error or omission in processing;
d. loss resulting directly or indirectly from the input of Electronic Data at an authorized electronic terminal of
an Electronic Funds Transfer System or a Customer Communication System by a person who had
authorized access from a customer to that customer's authentication mechanism; or
e. liability assumed by the ASSURED by agreement under any contract, unless such liability would have
attached to the ASSURED even in the absence of such agreement; or

MS-324890 (04/2021)

Page 2 of 3


f. loss resulting directly or indirectly from:
(1)
written instruction unless covered under this INSURING CLAUSE; or
(2)
instruction by voice over the telephone, unless covered under this INSURING CLAUSE.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and
conditions of coverage.
All other terms, conditions and limitations of this Policy shall remain unchanged.

MS-324890 (04/2021)

Page 3 of 3


Important Notice:
The SEC Requires Proof of Your Fidelity Insurance Policy
Your company is now required to file an electronic copy of your fidelity insurance coverage
(Chubb's ICAP Bond policy) to the Securities and Exchange Commission (SEC), according to
rules adopted by the SEC on June 12, 2006.
Chubb is in the process of providing your agent/broker with an electronic copy of your insurance
policy as well as instructions on how to submit this proof of fidelity insurance coverage to the
SEC. You can expect to receive this information from your agent/broker shortly.
The electronic copy of your policy is provided by Chubb solely as a convenience and does not
affect the terms and conditions of coverage as set forth in the paper policy you receive by mail.
The terms and conditions of the policy mailed to you, which are the same as those set forth in
the electronic copy, constitute the entire agreement between your company and Chubb.
If you have any questions, please contact your agent or broker.

Form 14-02-12160 (ed. 7/2006)


Chubb Producer Compensation
Practices & Policies
Chubb believes that policyholders should have access to information about Chubb's practices and policies related
to the payment of compensation to brokers and independent agents. You can obtain that information by
accessing our website at http://www.chubbproducercompensation.com or by calling the following toll-free
telephone number:
1-866-512-2862.

ALL-20887a (09/19)

Page 1 of 1
















ATTACHMENT I TO JOINT INSURANCE
AGREEMENT DATED AS OF OCTOBER 31, 2025
MACQUARIE FUNDS



FUND
Delaware Group® Adviser Funds
Macquarie Diversified Income Fund
Delaware Group® Cash Reserve
Macquarie Ultrashort Fund
Delaware Group® Equity Funds II
Macquarie Value Fund
Delaware Group® Equity Funds IV
Macquarie Healthcare Fund
Macquarie Growth and Income Fund
Macquarie Opportunity Fund
Delaware Group® Equity Funds V
Macquarie Small Cap Core Fund
Macquarie Small Cap Value Fund
Macquarie Wealth Builder Fund
Delaware Group® Global & International Funds
Macquarie Emerging Markets Fund
Delaware Group® Government Fund
Macquarie Emerging Markets Debt Corporate Fund
Macquarie Strategic Income Fund
Delaware Group® Income Funds
Macquarie Corporate Bond Fund
Macquarie Extended Duration Bond Fund
Macquarie Floating Rate Fund
Delaware Group® Limited-Term Government Funds
Macquarie Limited-Term Diversified Income Fund
Macquarie Tax-Free Oregon Fund
Delaware Group® State Tax-Free Income Trust
Macquarie Tax-Free Pennsylvania Fund
Delaware Group® Tax-Free Fund
Macquarie Tax-Free USA Fund
Macquarie Tax-Free USA Intermediate Fund
Delaware Pooled® Trust
Macquarie Global Listed Real Assets Fund
FUND
Delaware VIP® Trust
Macquarie VIP Emerging Markets Series
Macquarie VIP Small Cap Value Series
Macquarie VIP Fund for Income Series
Macquarie VIP Growth and Income Series
Macquarie VIP Growth Equity Series
Macquarie VIP Investment Grade Series
Macquarie VIP Limited Duration Bond Series
Macquarie VIP Opportunity Series
Macquarie VIP Total Return Series
Voyageur Mutual Funds
Macquarie Minnesota High-Yield Municipal Bond
Fund
Macquarie National High-Yield Municipal Bond Fund
Macquarie Tax-Free California Fund
Macquarie Tax-Free Idaho Fund
Macquarie Tax-Free New York Fund
Voyageur Mutual Funds II
Macquarie Tax-Free Colorado Fund
Voyageur Tax Free Funds
Macquarie Tax-Free Minnesota Fund
Ivy Funds
Macquarie Asset Strategy Fund
Macquarie Balanced Fund
Macquarie Core Equity Fund
Macquarie Climate Solutions Fund
Macquarie Global Bond Fund
Macquarie Global Growth Fund
Macquarie High Income Fund
Macquarie International Core Equity Fund
Macquarie Large Cap Growth Fund
Macquarie Mid Cap Growth Fund
Macquarie Mid Cap Income Opportunities Fund
Macquarie Natural Resources Fund
Macquarie Science and Technology Fund
Macquarie Real Estate Securities Fund
Macquarie Small Cap Growth Fund

FUND
Ivy Funds (continued)
Macquarie Smid Cap Core Fund
Macquarie Systematic Emerging Markets Equity Fund
Ivy Variable Insurance Portfolios
Macquarie VIP Asset Strategy Series
Macquarie VIP Balanced Series
Macquarie VIP Core Equity Series
Macquarie VIP Corporate Bond Series
Macquarie VIP Energy Series
Macquarie VIP Global Growth Series
Macquarie VIP Growth Series
Macquarie VIP High Income Series
Macquarie VIP International Core Equity Series
Macquarie VIP Limited-Term Bond Series
Macquarie VIP Mid Cap Growth Series
Macquarie VIP Natural Resources Series
Macquarie VIP Pathfinder Aggressive Series
Macquarie VIP Pathfinder Conservative Series
Macquarie VIP Pathfinder Moderate Series
Macquarie VIP Pathfinder Moderate - Managed Volatility Series
Macquarie VIP Pathfinder Moderately Aggressive Series
Macquarie VIP Pathfinder Moderately Aggressive - Managed Volatility Series
Macquarie VIP Pathfinder Moderately Conservative Series
Macquarie VIP Pathfinder Moderately Conservative - Managed Volatility Series
Macquarie VIP Science and Technology Series
Macquarie VIP Small Cap Growth Series
Macquarie VIP Smid Cap Core Series
Macquarie VIP Value Series



FUND
Minimum Amount of Fidelity Bond Coverage (000's)
Delaware Group® Adviser Funds
1,900.00
Macquarie Diversified Income Fund
Delaware Group® Cash Reserve
525.00
Macquarie Investments Ultrashort Fund
Delaware Group® Equity Funds II
1,700.00
Macquarie Value® Fund
Delaware Group® Equity Funds IV
1,900.00
Macquarie Healthcare Fund
Macquarie Growth and Income Fund
Macquarie Opportunity Fund
Delaware Group® Equity Funds V
2,500.00
Macquarie Small Cap Core Fund
Macquarie Small Cap Value Fund
Macquarie Wealth Builder Fund
Delaware Group® Global & International Funds
2,500.00
Macquarie Emerging Markets Fund
Delaware Group® Government Fund
750.00
Macquarie Emerging Markets Debt Corporate Fund
Macquarie Strategic Income Fund
Delaware Group® Income Funds
1,700.00
Macquarie Corporate Bond Fund
Macquarie Extended Duration Bond Fund
Macquarie Floating Rate Fund


FUND
Minimum Amount of Fidelity Bond Coverage (000's)
Delaware Group® Limited-Term Government Funds
900.00
Macquarie Limited-Term Diversified Income Fund
Macquarie Tax-Free Oregon Fund
Delaware Group® State Tax-Free Income Trust
750.00
Macquarie Tax-Free Pennsylvania Fund
Delaware Group® Tax-Free Fund
1,700.00
Macquarie Tax-Free USA Fund
Macquarie Tax-Free USA Intermediate Fund
Delaware Pooled® Trust
525.00
Macquarie Global Listed Real Assets Fund
Delaware VIP® Trust
2,300.00
Macquarie VIP Emerging Markets Series
Macquarie VIP Small Cap Value Series
Macquarie VIP Fund for Income Series
Macquarie VIP Growth and Income Series
Macquarie VIP Growth Equity Series
Macquarie VIP Investment Grade Series
Macquarie VIP Limited Duration Bond Series
Macquarie VIP Opportunity Series
Macquarie VIP Total Return Series
Voyageur Mutual Funds
2,500.00
Macquarie Minnesota High-Yield Municipal Bond Fund
Macquarie National High-Yield Municipal Bond Fund
Macquarie Tax-Free California Fund
Macquarie Tax-Free Idaho Fund
Macquarie Tax-Free New York Fund


FUND
Minimum Amount of Fidelity Bond Coverage (000's)
Voyageur Mutual Funds II
600.00
Macquarie Tax-Free Colorado Fund
Voyageur Tax Free Funds
900.00
Macquarie Tax-Free Minnesota Fund
Ivy Funds
2,500.00
Macquarie Asset Strategy Fund
Macquarie Balanced Fund
Macquarie Core Equity Fund
Macquarie Climate Solutions Fund
Macquarie Global Bond Fund
Macquarie Global Growth Fund
Macquarie High Income Fund
Macquarie International Core Equity Fund
Macquarie Large Cap Growth Fund
Macquarie Mid Cap Growth Fund
Macquarie Mid Cap Income Opportunities Fund
Macquarie Natural Resources Fund
Macquarie Science and Technology Fund
Macquarie Real Estate Securities Fund
Macquarie Small Cap Growth Fund
Macquarie Smid Cap Core Fund
Macquarie Systematic Emerging Markets Equity Fund




FUND
Minimum Amount of Fidelity Bond Coverage (000's)
Ivy Variable Insurance Portfolios
2,500.00
Macquarie VIP Asset Strategy Series
Macquarie VIP Balanced Series
Macquarie VIP Core Equity Series
Macquarie VIP Corporate Bond Series
Macquarie VIP Energy Series
Macquarie VIP Global Growth Series
Macquarie VIP Growth Series
Macquarie VIP High Income Series
Macquarie VIP International Core Equity Series
Macquarie VIP Limited-Term Bond Series
Macquarie VIP Mid Cap Growth Series
Macquarie VIP Natural Resources Series
Macquarie VIP Pathfinder Aggressive Series
Macquarie VIP Pathfinder Conservative Series
Macquarie VIP Pathfinder Moderate Series
Macquarie VIP Pathfinder Moderate - Managed
Volatility Series
Macquarie VIP Pathfinder Moderately Aggressive
Series
Macquarie VIP Pathfinder Moderately Aggressive -
Managed Volatility Series
Macquarie VIP Pathfinder Moderately Conservative
Series
Macquarie VIP Pathfinder Moderately Conservative -
Managed Volatility Series
Macquarie VIP Science and Technology Series
Macquarie VIP Small Cap Growth Series
Macquarie VIP Smid Cap Core Series
Macquarie VIP Value Series





Delaware Group Adviser Funds published this content on November 13, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 13, 2025 at 19:49 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]