Delaware Ivy Systematic Emerging Markets Equity Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
17.6%
1 yr return
26.5%
3 Yr Avg Return
-1.9%
5 Yr Avg Return
7.2%
Net Assets
$719 M
Holdings in Top 10
42.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.11%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 38.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
IMEGX - Profile
Distributions
- YTD Total Return 17.6%
- 3 Yr Annualized Total Return -1.9%
- 5 Yr Annualized Total Return 7.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.98%
- Dividend Yield 2.9%
- Dividend Distribution Frequency Annual
Fund Details
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Legal NameDelaware Ivy Systematic Emerging Markets Equity Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateJul 31, 2014
-
Shares OutstandingN/A
-
Share ClassR6
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CurrencyUSD
-
Domiciled CountryUS
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ManagerScot Thompson
Fund Description
Delaware Ivy Systematic Emerging Markets Equity Fund invests, under normal circumstances, at least 80% of its net assets in equity securities, primarily common stock, of companies (i) from countries considered to be emerging market countries or (ii) that are economically linked to emerging market countries. Emerging market countries include, but are not limited to, those considered to be developing by the International Monetary Fund, the World Bank, the International Finance Corporation or one of the leading global investment banks. The Manager has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Asia, Latin America, the Middle East, Central and Eastern Europe, and Africa. The Fund may invest in companies of any size and market capitalization and in companies in any industry. The issuer of a security or other investment generally is deemed to be economically linked to a particular country if: (a) the security or other investment is issued or guaranteed by the government of that country or any of its agencies, authorities or instrumentalities; (b) the issuer is organized under the laws of, and maintains a principal office in, that country; (c) the issuer has its principal securities trading market in that country; (d) the issuer derives 50% or more of its total revenues from goods sold or services performed in that country; (e) the issuer has 50% or more of its assets in that country; or (f) the issuer is included in an index which is representative of that country.
The Fund may invest up to 100% of its total assets in foreign securities and may invest in depositary receipts of foreign issuers. The Fund also may invest up to 20% of its net assets in companies that are not located in, or economically linked to, emerging market countries: (1) if the Fund’s portfolio managers believe that the performance of a company or its industry will be influenced by opportunities in the emerging markets; (2) to maintain exposure to industry segments where the portfolio managers believe there are not satisfactory investment opportunities in emerging market countries; and/or (3) if the portfolio managers believe there is the potential for benefit to the Fund.
The Fund may invest in “A-Shares” of certain Chinese companies through various “connect programs” with local stock exchanges in China.
For the purposes of this section, a reference to the Manager may also include Macquarie Investment Management Global Limited (MIMGL), an affiliate of the Manager, with respect to its role as sub-advisor of the Fund.
Using a systematic bottom-up approach, the Fund seeks to select securities that have (1) solid earnings appreciation with trending price action, (2) demonstrated business quality, as seen through superior profitability, balance sheet strength, earnings stability, and corporate sustainability, and (3) reasonable company valuations relative to their current growth prospects, and their peer group. All of these factors give insight into the outlook for a company, and identify companies poised for sustainable growth. Sustainable growth, if it occurs, may result in price appreciation for the company’s stock. The Manager may sell a security if it no longer believes that the security is likely to contribute to meeting the investment objective of the Fund or if there are other opportunities that appear more attractive.
In determining whether to sell a security, the Manager generally considers whether the security has failed to meet its growth expectations, whether its valuation has exceeded its target, whether there has been a change in political regime, or whether it has lost confidence in management. The Manager also may sell a security to reduce the Fund’s holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
In addition, the Manager may permit MIMGL to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.
IMEGX - Performance
Return Ranking - Trailing
Period | IMEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 17.6% | -12.5% | 37.0% | 30.81% |
1 Yr | 26.5% | -3.2% | 48.3% | 38.66% |
3 Yr | -1.9%* | -12.0% | 13.3% | 68.22% |
5 Yr | 7.2%* | -3.0% | 12.7% | 27.33% |
10 Yr | 5.7%* | -2.5% | 7.1% | 12.66% |
* Annualized
Return Ranking - Calendar
Period | IMEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.4% | -6.5% | 35.5% | 60.20% |
2022 | -36.2% | -50.1% | -2.4% | 94.38% |
2021 | -5.2% | -33.1% | 22.5% | 50.30% |
2020 | 34.2% | -22.1% | 80.1% | 10.22% |
2019 | 22.4% | -0.7% | 42.0% | 27.44% |
Total Return Ranking - Trailing
Period | IMEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 17.6% | -12.5% | 37.0% | 30.81% |
1 Yr | 26.5% | -3.2% | 48.3% | 38.66% |
3 Yr | -1.9%* | -12.0% | 13.3% | 68.22% |
5 Yr | 7.2%* | -3.0% | 12.7% | 27.33% |
10 Yr | 5.7%* | -2.5% | 7.1% | 12.66% |
* Annualized
Total Return Ranking - Calendar
Period | IMEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.2% | -2.7% | 42.0% | 47.77% |
2022 | -27.0% | -42.2% | 1.9% | 79.54% |
2021 | -4.3% | -32.5% | 33.1% | 71.19% |
2020 | 35.6% | -20.0% | 81.6% | 8.95% |
2019 | 23.8% | 2.3% | 42.0% | 30.74% |
NAV & Total Return History
IMEGX - Holdings
Concentration Analysis
IMEGX | Category Low | Category High | IMEGX % Rank | |
---|---|---|---|---|
Net Assets | 719 M | 682 K | 103 B | 42.26% |
Number of Holdings | 105 | 10 | 7534 | 47.56% |
Net Assets in Top 10 | 320 M | 290 K | 23.8 B | 37.38% |
Weighting of Top 10 | 42.89% | 2.9% | 100.2% | 18.72% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 10.57%
- Samsung Electronics Co Ltd 6.58%
- Tencent Holdings Ltd 4.46%
- ICICI Bank Ltd 3.75%
- Kia Corp 3.66%
- Bajaj Auto Ltd 3.32%
- NetEase Inc 2.81%
- MediaTek Inc 2.77%
- Infosys Ltd 2.51%
- FirstRand Ltd 2.46%
Asset Allocation
Weighting | Return Low | Return High | IMEGX % Rank | |
---|---|---|---|---|
Stocks | 97.59% | 0.00% | 107.82% | 42.68% |
Cash | 1.56% | -2.03% | 16.88% | 55.09% |
Preferred Stocks | 1.28% | 0.00% | 13.31% | 37.24% |
Other | 0.00% | -0.46% | 26.93% | 80.06% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 81.46% |
Bonds | 0.00% | 0.00% | 88.10% | 83.54% |
Stock Sector Breakdown
Weighting | Return Low | Return High | IMEGX % Rank | |
---|---|---|---|---|
Technology | 22.62% | 0.00% | 47.50% | 45.62% |
Consumer Cyclical | 17.37% | 0.00% | 48.94% | 14.27% |
Communication Services | 16.51% | 0.00% | 39.29% | 2.97% |
Financial Services | 15.60% | 0.00% | 48.86% | 83.19% |
Consumer Defense | 7.01% | 0.00% | 25.90% | 35.45% |
Energy | 6.40% | 0.00% | 24.80% | 19.63% |
Industrials | 6.20% | 0.00% | 43.53% | 47.03% |
Basic Materials | 3.37% | 0.00% | 30.03% | 83.76% |
Real Estate | 2.88% | 0.00% | 17.15% | 20.48% |
Healthcare | 2.04% | 0.00% | 16.53% | 78.67% |
Utilities | 0.00% | 0.00% | 39.12% | 93.50% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | IMEGX % Rank | |
---|---|---|---|---|
Non US | 95.81% | 0.00% | 101.28% | 7.95% |
US | 1.78% | 0.00% | 100.13% | 92.61% |
IMEGX - Expenses
Operational Fees
IMEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.11% | 0.03% | 29.98% | 67.83% |
Management Fee | 0.94% | 0.00% | 2.00% | 62.99% |
12b-1 Fee | N/A | 0.00% | 1.00% | 15.15% |
Administrative Fee | N/A | 0.01% | 0.85% | 3.59% |
Sales Fees
IMEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
IMEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
IMEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 38.00% | 0.00% | 189.00% | 42.81% |
IMEGX - Distributions
Dividend Yield Analysis
IMEGX | Category Low | Category High | IMEGX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.95% | 0.00% | 9.74% | 16.74% |
Dividend Distribution Analysis
IMEGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
IMEGX | Category Low | Category High | IMEGX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.98% | -1.98% | 17.62% | 40.96% |
Capital Gain Distribution Analysis
IMEGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 15, 2023 | $0.641 | OrdinaryDividend |
Dec 15, 2022 | $2.486 | OrdinaryDividend |
Dec 16, 2021 | $0.264 | OrdinaryDividend |
Dec 10, 2020 | $0.295 | OrdinaryDividend |
Dec 12, 2019 | $0.242 | OrdinaryDividend |
Dec 13, 2018 | $0.202 | OrdinaryDividend |
Dec 14, 2017 | $0.065 | OrdinaryDividend |
Dec 10, 2015 | $0.145 | OrdinaryDividend |
Dec 11, 2014 | $0.143 | OrdinaryDividend |
IMEGX - Fund Manager Analysis
Managers
Scot Thompson
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Scot Thompson Managing Director, Co-Head of Systematic Investments, Portfolio Manager Scot Thompson is the co-head of the Macquarie Systematic Investments (MSI) team, a role he assumed in August 2014. His responsibilities include the day-to-day management of the global portfolios, oversight of the trading function, development of new strategies, and client engagement. From June 2003 to August 2014, Thompson was the equities head of product, responsible for product design, development, and client relationships for the firm’s Australian and global equities product range. Before that, he was a member of the firm’s private equity fund-of-fund and performance analytics teams. Prior to joining Macquarie in November 2001 as a quantitative performance analyst, he worked on the performance analytics team for Cogent Investment Administration, where he was responsible for investment performance and attribution reporting for a variety of clients over all asset classes. Thompson also work in civil engineering before moving to finance, working for several Australian companies as a project manager focusing on underground installations, quarrying, and mining. He received a Bachelor of Civil Engineering from the University of Sydney and a Master of Applied Finance from Macquarie University.
Benjamin Leung
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Benjamin Leung, CFA Managing Director, Co-Head of Systematic Investments, Head of Research Benjamin Leung is the co-head of the Macquarie Systematic Investments (MSI) team, a role he assumed in August 2014. In addition to the day-to-day management of the global portfolios, he is also the head of research, responsible for driving the continual evolution of the systematic investment process. Leung joined the MSI team in May 2005 as a quantitative analyst, where his responsibilities included the development and maintenance of various quantitative models. Following his successful efforts to expand the quantitative capability to international markets, he formed the foundation of the current systematic investment approach. Prior to joining the MSI team, he worked as a software engineer for Macquarie’s Investment Banking Group Information Services Division in Sydney. Leung received a Bachelor of Engineering with Honours and a Masters in Commerce from the University of New South Wales.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.64 | 13.42 |