Delaware Management Company
EX-99.d.2
Delaware Management Company
0000 Xxxxxx Xxxxxx
Philadelphia, PA 19103
March 24, 2020
Delaware Group Global & International Funds
0000 Xxxxxx Xxxxxx
Philadelphia, PA 19103
Re: Expense Limitations
Ladies and Gentlemen:
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Management Company, a series of Macquarie Investment Management Business Trust (the “Manager”), agrees that in order to improve the performance of the series of Delaware Group Global & International Funds listed below (collectively, the “Funds”), the Manager shall waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations (collectively, the “Excluded Expenses”)) in an aggregate amount equal to the amount by which the Funds’ total annual operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below for the period from March 27, 2020 through March 31, 2021. For purposes of this Agreement, Excluded Expenses may also include such additional costs and expenses as may be agreed upon from time to time by the Funds’ Board of Trustees and the Manager.
| Fund | Class A, Class C Class R, and Institutional Class Expense Cap |
Class R6 Expense Cap |
| Delaware Emerging Markets Fund | 1.37% | 1.25% |
| Delaware Global Value Fund | 1.15% | N/A |
| Delaware International Small Cap Fund | 1.12% | 1.00% |
| Delaware International Value Equity Fund | 1.09% | 1.03% |
The Manager acknowledges that it (1) shall not be entitled to collect on, or make a claim for, waived fees at any time in the future, and (2) shall not be entitled to collect on, or make a claim for, reimbursed Fund expenses at any time in the future.
Delaware Management Company, a series of
Macquarie Investment Management Business Trust
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Senior Vice President | |||
Your signature below acknowledges acceptance of this Agreement:
Delaware Group Global & International Funds
| By: | s/ Xxxxx X. Xxxxx | |||
| Name: | Xxxxx X. Xxxxx | |||
| Title: | President & Chief Executive Officer | |||
| Date: | March 24, 2020 | |||
