In the first quarter of 2026, Nomura Wealth Builder Fund's Institutional Class shares outperformed its benchmark, driven by strong performance in US quality, income, and large-cap value stocks. Despite initial optimism, escalating geopolitical tensions led to market disruptions.

• 01Nomura Wealth Builder Fund's Institutional Class shares outperformed a benchmark of 60% S&P 500 Index and 40% Bloomberg US Aggregate Index.
• 02The Fund's success was attributed to its exposure to US quality and income stocks, as well as US large-cap value stocks.
• 03The strategic policy weights of the Fund emphasize diversification across different geographies and asset classes.
• 04The beginning of Q1 2026 saw cautious optimism in global markets, which later diminished due to geopolitical tensions.
• 05Market disruptions occurred as the quarter progressed, impacting overall performance.

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