Nomura to Convert Three Mutual Funds Into Active Bond ETFs

Nomura Asset Management plans to convert three existing mutual funds into active ETFs around Feb. 19, 2027. The Nomura Diversified Income Fund will become the Nomura Diversified Income ETF (DFIX), allocating across investment-grade, high-yield, developed and emerging-market debt. The Nomura Limited-Term Diversified Income Fund will become the Nomura Limited-Term Diversified Income ETF, targeting 1–3 year duration with up to 20% in high yield. The Nomura Tax-Free California Fund will become the Nomura Tax-Free California ETF (TFCA), investing at least 80% in federally and California tax-exempt munis. Shareholders will receive equivalent-value ETF shares, with fractional shares paid in cash.