Important information

Regulatory disclosures

Macquarie Group Important Information

The name ‘Macquarie’ refers to Macquarie Group Limited and its worldwide affiliates and subsidiaries (the Macquarie Group).

Macquarie only carries on banking activities in those countries it is authorised to do so. Macquarie Bank Limited (MBL) is authorised by the Australian Prudential Regulation Authority (APRA) to carry out banking business in Australia. MBL, acting through its Singapore Branch, is authorised and regulated by the Monetary Authority of Singapore to carry out banking business in Singapore. MBL, acting through its Hong Kong branch, is authorised and regulated by the Hong Kong Monetary Authority to carry on banking business in Hong Kong. MBL London Branch (MBLLB) is authorised to carry out banking business in the United Kingdom as described in the UK & Europe Corporate and Regulatory Status Disclosures section below. Macquarie Bank Europe Designated Activity Company is regulated by the Central Bank of Ireland. Macquarie Bank Limited maintains Representative Offices in the states of Illinois, New York and Texas, but is not authorised to conduct business in the US. No member of the Macquarie Group of companies is registered as a bank in New Zealand under the Reserve Bank of New Zealand Act 1989.

Other than Macquarie Bank Limited ABN 46 008 583 542 (MBL), any Macquarie Group entity noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. Any investments are subject to investment risk including possible delays in repayment and loss of income and principal invested.  MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Macquarie Group Limited and its related corporations are not otherwise currently authorised to accept deposits or conduct banking business in any other jurisdiction. Other members of the Macquarie Group are subject to regulation in the regions in which they operate.

Research Disclosures

Important Disclosures regarding specific companies covered in reports issued by:

Macquarie Research

Global Research Disclaimer

International Organization of Securities Commissions (IOSCO) Principles

Regional Disclosures

United States of America - Delaware Fundssm by Macquarie / Delaware Distributors, L.P.

If you are considering a mutual fund transaction, then carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds' prospectuses, which may be obtained by visiting http://www.delawarefunds.com. Investors should read the prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group, including registered investment adviser Macquarie Investment Management Business Trust (MIMBT) and its series. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.

United States of America - California Finance Lenders Law License Disclaimer

The following affiliates of Macquarie Group Limited are licensed as finance lenders in California: Macquarie Investments US Inc. (No. 603J763), Macquarie Capital Funding LLC (No. 603L174), Macquarie CAF LLC (No. 60DBO-43903, No. 60DBO-74288 and No. 60DBO-77450), Macquarie Equipment Capital Inc. (No. 60DBO-46229), Macquarie Corporate and Asset Funding Inc. (No. 60DBO-46230), Macquarie Funding LLC (No. 60DBO-74329) and Advantage Funding Commercial Capital Corp. (No. 603C001).

United Kingdom & Europe Corporate and Regulatory Status Disclosures

Macquarie Bank Limited London Branch

Macquarie Bank Limited (“MBL”) is an Australian Public Limited Company incorporated in the Australian Capital Territory, Australia (ABN 46 008 583 542 Australian Financial Services Licence (“AFSL”) and Australian Credit Licence 237502). The registered office for MBL is Level 6, 50 Martin Place, Sydney NSW 2000, Australia. 

MBL (including its branches) is authorised by the Australian Prudential Regulation Authority (“APRA”). Details of the extent of our regulation by APRA and the Australian Securities & Investment Commission (“ASIC”) are available from us on request.

Macquarie Bank Limited (London Branch) (“MBLLB”) is registered in England and Wales as a branch of a foreign company under number BR002678 (Company No. FC018220). The registered office for MBLLB is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom.

Macquarie Bank Limited (including its branches) is authorised and regulated by the Australian Prudential Regulation Authority. MBLLB is authorised by the Prudential Regulation Authority, and is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request (FCA Firm No. 170934).

Dubai: Macquarie Bank Limited – DIFC Branch is a Branch office of Macquarie Bank Limited (‘MBL’) in the Dubai International Financial Centre (‘DIFC’). Macquarie Bank Limited – DIFC Branch is regulated by the Dubai Financial Services Authority (DFSA). The registered office is Office 4, Level 304, Building 11, The Gate Village, DIFC, Dubai, United Arab Emirates, PO Box 506751. 

Macquarie Bank Limited – DIFC Branch is authorised by the DFSA (under Financial Services Permission No. F001369) to conduct the following regulated activities:

  • arranging Deals in Investments
  • advising on Financial Products
  • arranging Credit and Advising on Credit.

South Africa: Macquarie Bank Limited maintains a Representative Office in South Africa and is an authorised Financial Services Provider (FSP 43949) licensed by the Financial Sector Conduct Authority.

Switzerland: Macquarie Bank Limited maintains a Representative Office in Zurich but is not authorised to conduct business in Switzerland by FINMA.

Macquarie Bank Europe Designated Activity Company

Republic of Ireland: Macquarie Bank Europe Designated Activity Company (“MBE”) is incorporated and registered in Ireland (company number 634817).  The registered office for MBE is 1st Floor Connaught House, 1 Burlington Road, Dublin 4, Ireland.

Macquarie Bank Europe Designated Activity Company is regulated by the Central Bank of Ireland.

France: Macquarie Bank Europe Designated Activity Company Paris Branch (“MBE Paris Branch”) is regulated by the Autorité de contrôle prudentiel et de résolution (“ACPR”) and the Autorité des Marchés Financiers (“AMF”) for conduct of business rules. The address for the MBE Paris Branch is 41, avenue Georges V, 75008 Paris.

Germany: Macquarie Bank Europe Designated Activity Company, Frankfurt Branch (“MBE Frankfurt Branch”) is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”) for conduct of business rules. The address for the MBE Frankfurt Branch is OpernTurm, Bockenheimer Landstrasse 2-4, 60306 Frankfurt am Main.

Macquarie Capital (Europe) Limited

Macquarie Capital (Europe) Limited (“MCEL”) is incorporated and registered as a private limited company in England and Wales (Company No. 03704031). The registered office for MCEL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom.

MCEL is authorised and regulated by the Financial Conduct Authority (FCA Firm No. 193905).

Ireland: Macquarie Capital (Europe) Limited, Dublin branch (“MCEL Dublin Branch”). The registered office for MCEL Dublin Branch is 1st Floor Connaught House, 1 Burlington Road, Dublin 4, Ireland. MCEL Dublin Branch is not authorised or regulated to conduct business in Ireland by the Central Bank of Ireland.

Switzerland: Macquarie Capital (Europe) Limited maintains a Representative Office in Geneva but is not authorised to conduct business in Switzerland by the Swiss Financial Market Supervisory Authority (“FINMA”).

Macquarie Capital France SA

Macquarie Capital France SA (“MCF”) is incorporated and registered in France (company number 885 184 697 R.C.S. Paris). The registered office for MCF is 41, avenue Georges V, 75008 Paris.

MCF is regulated by the Autorité de contrôle prudentiel et de résolution (“ACPR”) and the Autorité des Marchés Financiers (“AMF”) (CIB 15283).

Germany: Macquarie Capital France SA, Niederlassung Deutschland (“MCF Germany Branch”) is registered with the local court (Amtsgericht) in Frankfurt/Main under number HRB 120651. MCF Germany Branch is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”) for conduct of business rules. The registered office for MCF Germany Branch is OpernTurm Bockenheimer Landstrasse 2-4, 60306 Frankfurt am Main, Germany.

Netherlands: Macquarie Capital France SA, Benelux Branch (“MCF Benelux Branch”) is regulated by the Netherlands Authority for the Financial Markets (“AFM”) for conduct of business rules. The registered office  for MCF Benelux Branch is Strawinskylaan 1021 1077XX, Amsterdam, The Netherlands.

Spain: Macquarie Capital France SA, Sucursal en España (“MCF Spain Branch”) is regulated by the National Securities Market Commission (“CNMV”) for conduct of business rules. The registered office for MCF Spain Branch is at Calle Serrano, 21, level 5, 28001 Madrid, Spain.

Macquarie Asset Management

Macquarie Asset Management (MAM) offers a diverse range of products including securities investment management, infrastructure and real asset management, and fund and equity-based structured products. Macquarie Asset Management (MAM) is the marketing name for certain companies comprising the asset management division of Macquarie Group. 

Macquarie Infrastructure and Real Assets (Europe) Limited

Macquarie Infrastructure and Real Assets (Europe) Limited (“MIRAEL”) is registered in England and Wales (Company No. 03976881). The registered office for MIRAEL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD, United Kingdom.

MIRAEL is authorised and regulated by the Financial Conduct Authority (FCA Firm No.195652).

Shareholders Rights Directive II

Under Rule 2.2B.5R of the Conduct of Business Sourcebook in the FCA Rules, Macquarie Infrastructure and Real Assets (Europe) Limited (the "Firm" or “MIRAEL”) when investing on behalf of investors in shares traded on a regulated market, is required either to develop and publicly disclose an engagement policy as described in the revised Shareholder Rights Directive (the “SRD II”) or publicly disclose a clear and reasoned explanation of why it has chosen not to develop and adopt a shareholder engagement policy.

The Firm is an investment manager which manages a number of wholesale investment fund vehicles established to pursue investment opportunities predominantly in the infrastructure sector in Europe. The majority of these fund vehicles target assets with core infrastructure characteristics including providing essential services to the community with sustainable and predictable cashflows over the long term with relatively limited exposure to the economic cycle. In all such fund vehicles, the Firm seeks to make investments in portfolio companies where the fund vehicle has with sufficient influence over the key strategic, commercial and financial decisions of each portfolio company for so that the Firm to be is able to utilise its expertise and capability to contribute to the success of the investment. As such, the Firm rarely invests in listed equity securities, and if it does, this is typically with the objective of taking such company listed equity issuer private. MIRAEL has established stewardship practices for its fund vehicles and regularly communicates with its investors.

The Firm is generally supportive of the objectives that underlie the SRD II. However, the Firm does not consider it appropriate to adopt a shareholder engagement policy as described by SRD II. Furthermore, the Firm has determined that, given the above strategy, it would be impractical for the Firm to have active engagement with company management or participate in the proxy voting process. In addition, the Firm believes that the operational cost and time involved in such activities would outweigh any potential benefit to the trading strategies deployed by the Firm on behalf of its clients.

UK FRC Stewardship Code

Under Rule 2.2.3R of the Financial Conduct Authority's Conduct of Business Sourcebook, Macquarie Infrastructure and Real Assets (Europe) Limited ("MIRAEL") is required to make accessible disclosure of the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with listed UK equity issuers and stewardship in respect of listed equity and other asset classes, such as fixed income, bonds, real estate and infrastructure.

MIRAEL pursues an investment strategy that involves funds it manages investing in a variety of real asset businesses across Europe. MIRAEL is a long-term, focused, responsible investor committed to the sustainable long-term development of each of its investments. MIRAEL has established stewardship practices in place for the funds it manages and regularly communicates with investors. As such, MIRAEL has decided not to commit to the Code.

Macquarie Investment Management Europe Limited

Macquarie Investment Management Europe Limited (“MIMEL”) is incorporated and registered as a private limited company in England and Wales (Company No. 09612439, Firm Reference No. 733534). The registered office for MIMEL is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD.

MIMEL is authorised and regulated by the Financial Conduct Authority (FCA Firm No. 733534).

UK FRC Stewardship Code

Under Rule 2.2.3R of the Financial Conduct Authority's Conduct of Business Sourcebook, Macquarie Investment Management Europe Limited ("MIMEL") is required to make accessible disclosure of the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with listed UK equity issuers and stewardship in respect of listed equity and other asset classes, such as fixed income, bonds, real estate and infrastructure.

MIMEL pursues an investment strategy that involves funds and strategies it manages investing in a variety of fixed income and infrastructure debt assets. MIMEL is a long-term, focused, responsible investor committed to sustainable investing. MIMEL has established stewardship practices in place for the funds and strategies it manages and regularly communicates with investors. As such, MIMEL has decided not to commit to the Code.

Article 3(g) of Directive 2007/36/EC as amended by Directive (EU) 2017/828 (together with the relevant national implementing regulations, the “SRD”) requires asset managers to adopt on a “comply or explain” basis an engagement policy describing how an asset manager integrates its investment strategy relating to shareholder engagement in companies that are listed on regulated markets. In relation to its equity investment strategies, MIMEL is an asset manager for the purposes of the SRD and its Engagement Policy is available here.

Macquarie Private Debt Europe Limited

Macquarie Private Debt Europe Limited (“MPDEL”) is incorporated and registered in Ireland (company number 590627). The registered office is Level One, Connaught House, 1 Burlington Road, Dublin 4, D04 C5Y6, Ireland.

MPDEL is authorised by the Central Bank of Ireland (CBI Reference Number C163715) as an alternative investment fund manager under the European Union (Alternative Investment Fund Managers) Regulations 2013, as amended.

Shareholder Rights Directive II

Article 3(g) of Directive 2007/36/EC as amended by Directive (EU) 2017/828 (together with the relevant national implementing regulations, the “SRD”) requires asset managers to adopt on a “comply or explain” basis an engagement policy describing how an asset manager integrates its investment strategy relating to shareholder engagement in companies that have a registered office in the EU and are listed on EU regulated markets (“EU investee companies”).

Macquarie Private Debt Europe Limited (“MPDEL”) is an asset manager for the purposes of the SRD. MPDEL does not actively invest as part of its investment strategy in the shares of EU investee companies. Any shares in EU investee companies would only be held as an investment ancillary to, or as a result of, a credit investment. On this basis, MPDEL has determined that it is not appropriate to adopt an engagement policy for the purposes of the SRD.

Financial Statements

31 March 2019 Audited Financial Statements for Macquarie Private Debt Funds ICAV are available upon request from Macquarie Private Debt Europe Limited at its registered address of Level One, Connaught House, 1 Burlington Road, Dublin 4, D04 C5Y6, Ireland.

Macquarie Investment Management Europe S.A.

Macquarie Investment Management Europe S.A. (MIME S.A) is incorporated and registered in the Grand Duchy of Luxembourg (Register of Trade and Companies number B62793, Firm Reference No. P00000118). The registered office of MIME S.A. is 10A, Boulevard Joseph II, L-1840 Luxembourg.

MIME S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier.

Article 3(g) of Directive 2007/36/EC as amended by Directive (EU) 2017/828 (together with the relevant national implementing regulations, the “SRD”) requires asset managers to adopt on a “comply or explain” basis an engagement policy describing how an asset manager integrates its investment strategy relating to shareholder engagement in companies that are listed on regulated markets. In relation to its equity investment strategies, MIME S.A. is an asset manager for the purposes of the SRD and its Engagement Policy is available here.

Germany: Macquarie Investment Management Europe S.A., Niederlassung Deutschland (MIMESA German Branch) is registered with the local court (Amtsgericht) in Munich under company number HRB 250325 having its registered office at Sternstraße 5, Lehel Carré, 80538 Munich, Germany. MIMESA German Branch is regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).

UK Stewardship Code

MIME S.A. has committed to the 2020 UK Stewardship Code and has officially been listed as signatory by the Financial Reporting Council (FRC). MIME S.A. Statement on the UK Stewardship Code can be found here.

Macquarie Asset Management Europe S.a r.l.

Macquarie Asset Management Europe S.a r.l. (MAMES) is registered in Luxembourg (Company number B233.546). The registered office for MAMES is 20, Boulevard Royal, L-2449 Luxembourg.

MAMES is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF number A00002436).

Denmark: Macquarie Asset Management Europe S.a r.l., Denmark Branch, fillial of Macquarie Asset management Europe S.a r.l., Luxembourg (MAMES Denmark Branch) is registered with the central business register in Copenhagen (CVR) under company number 42498254 having its registered office at c/o Habour House, Sundkrogsgade 21, 2100 Copenhagen, Denmark. MAMES Denmark Branch is regulated by the Danish Financial Supervisory Authority (DFSA).

Germany: Macquarie Asset Management Europe S.a r.l., Niederlassung Deutschland (MAMES Germany Branch) is registered with the local court (Amtsgericht) in Munich under company number HRB 265605 having its registered office at Sternstraße 5, Lehel Carré, 80538 Munich, Germany. MAMES Germany Branch is regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).

Italy: Macquarie Asset Management Europe S.a r.l., Italy Branch (MAMES Italy Branch) is registered with the chamber of commerce in Milan under company number MI-2608249 having its registered office at Largo Donegani 2, 20121 Milano, Italy. MAMES Italy Branch is regulated by Commissione Nazionale per le Società e la Borsa (CONSOB).

Sweden: Macquarie Asset Management Europe S.a r.l., Sweden Filial (MAMES Sweden Branch) is registered with the Swedish Companies Registration Office in Stockholm under company number 516412-5832 having its registered office at Västra Trädgardsgatan 15, 11153 Stockholm, Sweden. MAMES Sweden Branch is regulated by Sweden's financial supervisory authority (Finansinspektionen).

Macquarie Insurance Facility Luxembourg S.à.rl.

Macquarie Insurance Facility Luxembourg S.à r.l. (MIFLS) is registered in Luxembourg (Trade register number B231.864). The registered office is 20 Boulevard Royal L-2449 Luxembourg.

MIFLS is authorised and regulated by the Commissariat Aux Assurances (CAA firm number 2019CM007).

Macquarie Investment Management Switzerland GmbH

Macquarie Investment Management Switzerland GmbH is authorised and regulated by FINMA in Switzerland as a distributor of collective investment schemes.

Macquarie Investment Management Austria Kapitalanlage AG

Macquarie Investment Management Austria Kapitalanlage AG (registered with the commercial register of the commercial court Vienna under FN 171881t, with the data protection authority under DVR 0976121 and with the finance administration under ATU 45295808) is regulated by the Austrian Financial Market Authority (FMA) in the conduct of business in the European Economic Area (EEA).

Article 3(g) of Directive 2007/36/EC as amended by Directive (EU) 2017/828 (together with the relevant national implementing regulations, the “SRD”) requires asset managers to adopt on a “comply or explain” basis an engagement policy describing how an asset manager integrates its investment strategy relating to shareholder engagement in companies that are listed on regulated markets. In relation to its equity investment strategies, MIMAK is an asset manager for the purposes of the SRD and its Engagement Policy is available here.

Macquarie Corporate and Asset Finance 1 Limited

Macquarie Corporate and Asset Finance 1 Limited is incorporated and registered as a private limited company in England and Wales (Company No. 07815862, VAT Registration No. GB 577 7048 00). The registered office for Macquarie Corporate and Asset Finance 1 Limited is Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD. Macquarie Corporate and Asset Finance 1 Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 726503).

MIF Holdings Limited

MIF Holdings Limited is an appointed representative of Davies MGA Services Limited (FCA Reference number: 597301) and Ambant Limited (FCA Reference number: 486865) for general insurance intermediary business, both companies are authorised and regulated by the Financial Conduct Authority to carry on insurance mediation activities.

MIF Holdings GmbH

MIF Holdings GmbH (MIF Germany) is licensed as an insurance agent pursuant to section 34d para. 1 German Industrial Code (Versicherungsvertreter gem. § 34d Abs. 1 Satz 2 Nr. 1 GewO) issued by the Chamber of Commerce and Industry, Frankfurt am Main, and registered in the intermediary register (under register number: D-Q0FO-1A1VZ-04).

MIF Germany is registered with the local court of Frankfurt am Main under HRB 121454 and has its registered office at OpernTurm, Bockenheimer Landstraße 2-4, 60306 Frankfurt am Main. Managing directors of MIF Germany are Mark Vorbach, Cord von Lewinski and Thomas Metzger.

UK Climate Investments LLP

UK Climate Investments LLP is a joint venture between the secretary of state for Business, Energy and Industrial Strategy and UK Green Investment Climate International Limited and is a limited liability partnership majority owned by the UK Government registered number OC399662. UK Climate Investments LLP registered office is at Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD. UK Climate Investments LLP is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

UK Green Investment Climate International Limited

UK Green Investment Climate International Limited is a private limited company registered in England and Wales, with registered number 9568027 and its registered office is at Ropemaker Place, 28 Ropemaker Street, London, EC2Y 9HD and it is part of the Macquarie Group. UK Green Investment Climate International Limited is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

Green Investment Group Limited

Green Investment Group Limited is a private limited company registered in Scotland, registered number SC574147, and its registered office is at Atria One, 144 Morrison Street, Edinburgh EH3 8EX. It is part of the Macquarie Group and is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

GLL Real Estate Partners GmbH

GLL Real Estate Partners GmbH (“GLL”) is incorporated and registered with the local court (Amtsgericht) in Munich, Germany under company no. HRB 134 934. The registered office for GLL is Lindwurmstrasse 76, 80337 Munich, Germany. Managing Directors: Dana Gibson, Helmut Gierstorfer, Rainer Göbel, Alexander Kratzel, Gerd Kremer, Florian Winkle. 

GLL Real Estate Partners Kapitalverwaltungsgesellschaft mbH

GLL Real Estate Partners Kapitalverwaltungsgesellschaft mbH (“GLL KVG”) is incorporated and registered with the local court (Amtsgericht) in Munich, Germany under company no. HRB 206 240. The registered office for GLL KVG is Lindwurmstrasse 76, 80337 Munich, Germany. Managing Directors: Rainer Göbel, Mara Grünwald, Gerd Kremer, Martin Müller, Brigitte Schmale and Jochen Schnier. Chairman of the Supervisory Board: Dr. Claus Helbig

GLL Real Estate Partners Kapitalverwaltungsgesellschaft mbH is authorised and regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).

United Arab Emirates

Macquarie Bank Limited – DIFC Branch

Macquarie Bank Limited – DIFC Branch is a Branch office of Macquarie Bank Limited (‘MBL’) in the Dubai International Financial Centre (‘DIFC’).  MBL is a wholly-owned subsidiary of Macquarie Group Limited (‘MGL’), Macquarie Bank Limited – DIFC Branch is regulated by the Dubai Financial Services Authority (DFSA). The registered office is Office 4, Level 304, Building 11, The Gate Village, DIFC, Dubai, United Arab Emirates, PO Box 506751. 

Macquarie Bank Limited – DIFC Branch is authorised by the DFSA (under Financial Services Permission No. F001369) to conduct the following regulated activities:

  • arranging Deals in Investments
  • advising on Financial Products
  • arranging Credit and Advising on Credit.