Nomura Global Listed Real Assets Fund Q4 2025 Commentary

Macquarie Asset Management38 FollowersFollow5ShareSavePlay(7min)CommentsSummaryDespite significant bouts of volatility, global markets generally finished 4Q25 with positive returns.For 4Q25, the Nomura Global Listed Real Assets Fund outperformed the Fund’s primary benchmark, the Bloomberg Global Inflation-Linked Total Return Index Value Hedged USD.The Fund seeks to achieve its investment objective by investing in listed real asset securities and may purchase both equity and fixed income securities. Rawpixel Ltd/iStock via Getty Images Market review Despite significant bouts of volatility, global markets generally finished 4Q25 with positive returns. Expensive valuations and tight spreads amplified instances of underperformance and macro weakness. Those headwinds were offset, however, by nimble corporate actions to mitigate theThis article was written byMacquarie Asset Management38 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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