Delaware Pauses Cash Liquidation
A new SEC filing for the Delaware Ivy Cash Management Fund tells us, "The liquidation of the Fund noted in supplements dated September 2021 and October 2021 has been temporarily suspended until a date to be announced in a future supplement. Shareholders will receive at least 60 days' notice of the new liquidation date. The dates that the Fund will be closed to new and existing shareholders remain the same as what was noted in the supplement dated October 1, 2021." (See "Delaware Ivy Cash Funds Liquidating" (10/4/21).) The Delaware supplement continues, "Effective on or about November 15, 2021, the portfolio manager team of the Fund will change to a new portfolio manager team of the Fund's investment manager, Delaware Management Company. On the Portfolio Manager Effective Date, Stephen Juszczyszyn and Kathleen Marnell Burst will serve as portfolio managers of the Fund. Upon the Portfolio Manager Effective Date, the following replaces the information in the sections entitled 'Investment Adviser' and 'Portfolio Manager': Investment manager, Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust); Portfolio managers, Stephen Juszczyszyn, Managing Director, Senior Portfolio Manager (November 2021) and Kathleen Marnell Burst, Portfolio Manager (November 2021)." It adds, "Delaware Management Company (Manager) is an indirect wholly owned subsidiary of Macquarie Group Limited (MGL). Other than Macquarie Bank Limited (MBL), a subsidiary of MGL and an affiliate of the Manager, none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise. The Fund is governed by US laws and regulations." For more, see our earlier Crane Data News updates: "Delaware Liquidates Govt Cash Mgmt" (1/11/21) and "Delaware Investments' Cash Reserves Converting to Ultra Short Bond Fund" (10/28/15).
