Optimum Fixed Income Instl
OIFIX
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- Optimum Fixed Income Fund (OIFIX) is an open-end mutual fund launched in 2003 and domiciled in the United States that seeks a high level of income with potential for capital growth by investing primarily in fixed income securities. The fund, part of Optimum Fund Trust, maintains at least 80% of its net assets, plus any borrowings for investment purposes, in a diversified portfolio of investment grade securities, including those issued or guaranteed by the U.S. government or its agencies or instrumentalities; corporate debt securities; taxable and tax-exempt municipal securities; and mortgage-backed and asset-backed securities rated BBB- or higher by S&P or Baa3 or higher by Moody's, with allocations to U.S. bonds (approximately 74%), non-U.S. bonds (16%), cash (10%), and minor equity positions. It benchmarks performance against the Bloomberg U.S. Aggregate Bond Index and features top holdings such as Federal National Mortgage Association mortgage-backed securities and repurchase agreements, focusing on factors including interest rates, economic conditions, credit quality, sector allocation, and maturity profiles. The fund is managed by Delaware Management Company, a Macquarie Investment Management affiliate, with sub-advisory from Pacific Investment Management Company LLC (PIMCO) and input from affiliated sub-advisors; it targets institutional and retail investors in the intermediate core-plus bond category through multiple share classes, including Institutional Class (OIFIX), available primarily in the United States. As of late 2025, total net assets stand at approximately $2.7 billion, with a net expense ratio of 0.79-0.80% reflecting contractual waivers through July 2026. In May 2024, the fund underwent a significant portfolio management change, with Janaki Rao, Head of US Multisector at Nomura Asset Management (formerly Macquarie), and Andrew Vonthethoff assuming primary responsibilities alongside PIMCO managers Marc Seidner, Michael Cudzil, and Mohit Mittal. This transition coincided with Nomura's $1.8 billion acquisition of Macquarie Asset Management's U.S. and European public investments business, completed in late 2025, integrating the fund's management team into Nomura while preserving operational continuity under Delaware Management. No major funding rounds, product launches, or acquisitions were reported for the fund itself within the last two years.