Skip to contentHome page Seeking Alpha - Power to InvestorsMar 24, 2026, 7:45 PM ETNomura Mid Cap Income Opportunities Fund Inst (IVOIX), IVOAX, IVOCX, IVORX, IVOSX, IVOYXMacquarie Asset Management40 FollowersCommentsSummaryUS equities rose in 4Q25 amid a complex mix of optimism about growth driven by artificial intelligence and growing concerns about profitability, spending, and macroeconomic uncertainty.In 4Q25, Nomura Mid Cap Income Opportunities Fund Institutional Class shares underperformed the Fund's benchmark, the Russell Midcap Index.Negative stock selection in industrials was the primary detractor during the quarter with adverse stock selection in consumer discretionary and materials also detracting.Cardinal Health Inc., a leading distributor of pharmaceuticals and medical products, experienced a lift in growth from specialty pharmaceutical markets.Investor focus will increasingly shift toward profitability, free cash flow generation, and disciplined capital allocation.Funtap/iStock via Getty ImagesMarket reviewUS equities rose in 4Q25 amid a complex mix of optimism about growth driven by artificial intelligence (AI) and growing concerns about profitability, spending, and macroeconomic uncertainty. While enthusiasm for AI investments remained a defining theme, investor scrutiny increasedThis article was written byMacquarie Asset Management40 FollowersMacquarie Asset Management (MAM) is the asset management division of Macquarie Group. MAM is an integrated asset manager across public and private markets offering a diverse range of capabilities, including real assets, real estate, credit, equities and multi-asset solutions. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. Delaware Funds by Macquarie refers to certain investment solutions that MAM distributes, offers, or advises. Investment advisory services are provided to the Delaware Funds by Delaware Management Company, a series of Macquarie Investment Management Business Trust (MIMBT), a Securities and Exchange Commission (SEC) registered investment adviser. The Delaware Funds are distributed by Delaware Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) and an affiliate of MIMBT. Note: This account is not managed or monitored by Macquarie Asset Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use the Macquarie Asset Management's official channels.CommentsTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.