Nomura Mid Cap Income Opportunities Fund Class A IVOAX Strategy

The investment seeks to provide total return through a combination of current income and capital appreciation. The fund seeks to achieve its objective by investing primarily in a diversified portfolio of income-producing common stocks of mid-capitalization companies that the Manager believes demonstrate favorable prospects for total return. Under normal circumstances, it invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities of mid-capitalization companies (80% policy).