Delaware Investments is to be rebranded and take on the name of parent company Macquarie.
The asset manager will now be called Macquarie Investment Management.
However, the firm’s US registered mutual funds and separately managed accounts will continue to carry the Delaware name.
According to a statement from the firm, this was because the Delaware brand has strong name recognition among retail investors in the United States.
Founded in 1929 at the start of the Great Depression, Delaware Investments introduced its first mutual fund back in 1938. The firm was acquired by Australia-headquartered Macquarie Group from Lincoln Financial Group in 2010 for $428 million and has doubled its assets from $125 billion to $256.9 billion as of December 31, 2016 since the acquisition.
‘Bringing our organization together under one global brand makes it easier for clients to access the strength of the entire investment platform,’ said Ben Bruck, global head of Macquarie Investment Management.
Shawn Lytle, head of Macquarie Investment Management, Americas, said the name change would not affect the way the firm managed money.
‘We are known for high-conviction, active management and taking a long-term view. We’ll continue to embrace that philosophy on behalf of clients, and, importantly, our portfolio management teams will retain the autonomy they have always enjoyed to pursue their areas of specialization,’ he said.