Regulatory disclosures

Research Disclosures

Important Disclosures regarding specific companies covered in reports issued by:

• Macquarie Research
• Global Research Disclaimer

Financial Disclosures

• Basel III Pillar 3 regulatory disclosures

United States of America - Delaware Funds^sm by Macquarie / Delaware Distributors, L.P.

If you are considering a mutual fund transaction, then carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds' prospectuses, which may be obtained by visiting http://www.delawarefunds.com/. Investors should read the prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group, including registered investment adviser Macquarie Investment Management Business Trust (MIMBT) and its series. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.

United Kingdom & Europe Corporate and Regulatory Status Disclosures

Macquarie Bank Limited London Branch

Macquarie Bank Limited (“MBL”) is an Australian Public Limited Company incorporated in the Australian Capital Territory, Australia (ABN 46 008 583 542 Australian Financial Services Licence (“AFSL”) and Australian Credit Licence 237502). The registered office for MBL is Level 6, 50 Martin Place, Sydney NSW 2000, Australia. 

MBL (including its branches) is authorised by the Australian Prudential Regulation Authority (“APRA”). Details of the extent of our regulation by APRA and the Australian Securities & Investment Commission (“ASIC”) are available from us on request.

Macquarie Bank Limited (London Branch) (“MBLLB”) is registered in England and Wales as a branch of a foreign company under number BR002678 (Company No. FC018220). The registered office for MBLLB is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom.

Macquarie Bank Limited (including its branches) is authorised and regulated by the Australian Prudential Regulation Authority. MBLLB is authorised by the Prudential Regulation Authority, and is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request (FCA Firm No. 170934).

Switzerland: Macquarie Bank Limited maintains Representative Offices in Zurich but is not authorised to conduct business in Switzerland by FINMA.

Macquarie Bank International Limited

Macquarie Bank International Limited (“MBIL”) is incorporated and registered in England and Wales (Company No. 06309906). The registered office for MBIL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom. Authorised Directors: David Fass, Paul Plewman, Timothy Wade, Andrew Williams, George Alford. Company Secretary: Helen Everitt.

MBIL is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FCA Firm No. 471080).

Germany: Macquarie Bank International Limited, Germany Branch is registered with the local court (Amtsgericht) in Munich under company no. HRB 189708.

Macquarie Capital (Europe) Limited

Macquarie Capital (Europe) Limited (“MCEL”) is incorporated and registered as a private limited company in England and Wales (Company No. 03704031). The registered office for MCEL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom.

MCEL is authorised and regulated by the Financial Conduct Authority (FCA Firm No. 193905).

Germany: Macquarie Capital (Europe) Limited, German branch is registered with the local court (Amtsgericht) in Frankfurt/Main under number HRB 82506 having its registered office at OpernTurm Bockenheimer Landstrasse 2-4, 60306 Frankfurt am Main, Germany.

Switzerland: Macquarie Capital (Europe) Limited maintains a Representative Office in Geneva but is not authorised to conduct business in Switzerland by FINMA.

Macquarie Capital (Ireland) Designated Activity Company

Republic of Ireland: Macquarie Capital (Ireland) Designated Activity Company (“MCI”) is incorporated and registered in Ireland (company number 634747). The registered office for MCI is 5th Floor, The Exchange, George’s Dock, IFSC, Dublin 1, DO1P2V6

Macquarie Capital (Ireland) Designated Activity Company is regulated by the Central Bank of Ireland.

Macquarie Infrastructure and Real Assets (Europe) Limited 

Macquarie Infrastructure and Real Assets (Europe) Limited (“MIRAEL”) is registered in England and Wales (Company No. 03976881). The registered office for MIRAEL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom. 

MIRAEL is authorised and regulated by the Financial Conduct Authority (FCA Firm No.195652).

Dubai: Macquarie Infrastructure and Real Assets (Europe) Limited (MIRAEL) maintains a Representative Office in Dubai which is regulated to conduct business by Dubai Financial Services Authority (DFSA).

Germany: Macquarie Infrastructure and Real Assets (Europe) Limited, German Branch is regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN).

Macquarie Investment Management Europe Limited

Macquarie Investment Management Europe Limited (“MIMEL”) is incorporated and registered as a private limited company in England and Wales (Company No. 09612439, Firm Reference No. 733534). The registered office for MIMEL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD.

MIMEL is authorised and regulated by the Financial Conduct Authority (FCA Firm No. 733534).

UK FRC Stewardship Code

Under Rule 2.2.3R of the Financial Conduct Authority's Conduct of Business Sourcebook, Macquarie Investment Management Europe Limited ("MIMEL") is required to make accessible disclosure of the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with listed UK equity issuers. Investors that commit to the Code can either comply with it in full or choose not to comply with aspects of the Code, in which case they are required to explain their non-compliance.

MIMEL manages investment in fixed income and currency instruments. MIMEL’s investment strategy does not include investments in UK listed equities therefore the Code will not be relevant to its activities. As a result, MIMEL has chosen not to commit to the Code.

Germany: Macquarie Investment Management Europe Limited, Munich Branch is registered with the local court (Amtsgericht) in Munich under company number HRB 235204 having its registered office at Sternstraße 5, Lehel Carré, 80538 Munich, Germany.

Italy: Macquarie Investment Management Europe Limited maintains a Representative Office in Milan but is not authorised to conduct business in Italy by Consob.

Macquarie Investment Management Europe S.A.

Macquarie Investment Management Europe S.A. (MIME S.A) is incorporated and registered in the Grand Duchy of Luxembourg (Register of Trade and Companies number B62793, Firm Reference No. P00000118). The registered office of MIME S.A. is 36, rue Marie-Adelaide L-2128, Luxembourg.

MIME S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier.

Macquarie Investment Management Switzerland GmbH

Macquarie Investment Management Switzerland GmbH is authorised and regulated by FINMA in Switzerland as a distributor of collective investment schemes.

Macquarie Investment Management Austria Kapitalanlage AG 

Macquarie Investment Management Austria Kapitalanlage AG (registered with the commercial register of the commercial court Vienna under FN 171881t, with the data protection authority under DVR 0976121 and with the finance administration under ATU 45295808) is regulated by the Austrian Financial Market Authority (FMA) in the conduct of business in the European Economic Area (EEA).

MIF Holdings Limited

MIF Holdings Limited is an appointed representative of Ambant Underwriting Services Limited (for general insurance intermediary business), a company authorised and regulated by the Financial Conduct Authority under firm reference number 597301 to carry on insurance mediation activities.

UK Climate Investments LLP 

UK Climate Investments LLP is a joint venture between the secretary of state for Business, Energy and Industrial Strategy and UK Green Investment Climate International Limited and is a limited liability partnership majority owned by the UK Government registered number OC399662. UK Climate Investments LLP registered office is at Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD. UK Climate Investments LLP is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

UK Green Investment Climate International Limited

UK Green Investment Climate International Limited is a private limited company registered in England and Wales, with registered number 9568027 and its registered office is at Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD and it is part of the Macquarie Group. UK Green Investment Climate International Limited is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

Green Investment Group Management Limited

Green Investment Group Management Limited is authorised and regulated by the Financial Conduct Authority. It is a private limited company registered in Scotland, registered number SC460459, and its registered office is at 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, Scotland and it is part of the Macquarie Group.

UK Green Investment Bank Limited

UK Green Investment Bank Limited is a private limited company registered in Scotland, registered number SC424067, and its registered office is at Atria One, 144 Morrison Street, Edinburgh EH3 8EX. It is part of the Macquarie Group and is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

Green Investment Group Limited

Green Investment Group Limited is a private limited company registered in Scotland, registered number SC574147, and its registered office is at Atria One, 144 Morrison Street, Edinburgh EH3 8EX. It is part of the Macquarie Group and is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.