Concurrent with the completion of the transaction, Macquarie sold WDR's wealth management platform to LPL Financial Holdings Inc. (Nasdaq: LPLA), a leading US retail investment advisory firm, independent broker-dealer, and registered investment advisor custodian. In connection with this transaction, Macquarie and LPL have entered into a long-term partnership, with Macquarie becoming one of LPL's top-tier strategic asset management partners.
Shawn Lytle, President of Delaware Funds by Macquarie and Head of Macquarie Group in the Americas, said, "We are pleased to welcome the Ivy Funds shareholders to the Delaware Funds by Macquarie. Both fund families have a shared focus on delivering strong investment results and an excellent client experience for all. This combination, along with our enhanced partnership with LPL, unlocks substantial value for Waddell & Reed advisors and their clients."
LPL Financial President and Chief Executive Officer Dan Arnold said, "Waddell & Reed advisors are seasoned and well-regarded throughout the industry and are a strong cultural and strategic fit with us. We look forward to supporting them with our comprehensive platform that helps them design and operate the perfect practice for them and their clients. Waddell & Reed and Macquarie have been strong partners throughout the process, and we look forward to our ongoing collaboration."
MAM will retain Waddell & Reed Financial, Inc.'s asset management business, bringing $US76 billion in assets under management. The transaction will result in MAM becoming a top 201 actively managed, long-term open-end US mutual fund manager by assets under management.
About Macquarie Asset Management
Macquarie Asset Management (MAM) is a specialist global asset manager, providing investment solutions across a range of capabilities including infrastructure & renewables, real estate, agriculture, asset finance, private credit, equities, fixed income and multi-asset solutions.
As at 31 December 2020, MAM had $A550.9 billion of assets under management and over 1,900 staff operating across 20 markets in Australia, the Americas, Europe and Asia.
MAM has been managing assets for institutional and retail investors since 1980 in Australia and in the United States, retail investors recognize Delaware Funds by Macquarie family of funds as one of the longest standing mutual fund families, with more than 80 years in existence.
Macquarie Investment Management (MIM) is the marketing name for certain companies comprising the asset management division of Macquarie Group. Investment products and advisory services are distributed and offered by and referred through affiliates which include Delaware Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) and Macquarie Investment Management Business Trust (MIMBT), a Securities and Exchange Commission (SEC)-registered investment advisor. Investment advisory services are provided by a series of MIMBT. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. Delaware Funds by Macquarie refers to certain investment solutions that MIM distributes, offers, refers, or advises.
© 2021 Macquarie Management Holdings, Inc. 1627200.
Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds' prospectuses and their summary prospectuses, which may be obtained by visiting delawarefunds.com/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.
1 Source: Assets under management as at 31 March 2021. Based on data represented in Strategic Insight and Morningstar. Data include ICI Method of Sales: Salesforce, institutional, direct market, and retirement. Data exclude variable insurance products, closed-end funds, ETFs, passive mutual funds, money market funds, and Optimum Funds.
Contacts
Sam Dobson
Macquarie Group Investor Relations
+61 2 8232 9986
Lee Lubarsky
Macquarie Group Media Relations
+1 347 302 3000
For financial advisor inquiries
+1 877 693 3546
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