Macquarie Large Cap Growth Fund Q4 2025 Commentary

Macquarie Asset Management30 FollowersFollow5ShareSavePlay(11min)CommentsSummaryEquity markets continued to advance in 4Q25; however, volatility increased through October and November.The Fund’s relative performance reflected a combination of stock selection mistakes and external pressures.For 4Q25, Nomura Large Cap Growth Fund delivered positive absolute returns but underperformed its benchmark, the Russell 1000 Growth Index. Read more here. J Studios/DigitalVision via Getty Images Market review Equity markets continued to advance in 4Q25; however, volatility increased through October and November. Artificial intelligence (AI)-related investments remained at the forefront of headlines, but gains moderated as expectations became more demanding and investors grew slightly moreThis article was written byMacquarie Asset Management30 FollowersFollowMacquarie Asset Management (MAM) is the asset management division of Macquarie Group. MAM is an integrated asset manager across public and private markets offering a diverse range of capabilities, including real assets, real estate, credit, equities and multi-asset solutions. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. Delaware Funds by Macquarie refers to certain investment solutions that MAM distributes, offers, or advises. Investment advisory services are provided to the Delaware Funds by Delaware Management Company, a series of Macquarie Investment Management Business Trust (MIMBT), a Securities and Exchange Commission (SEC) registered investment adviser.

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