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The Delaware information provided
herein may be used in conjunction with the offering of shares only if preceded
or accompanied by a prospectus. All Delaware Investments funds are offered by
prospectus only. See below for information on obtaining prospectuses.
Overview Information
| Fund profile |
Objective
|
|
Portfolio manager(s)
|
| Delaware Diversified Income Fund seeks maximum long-term total return, consistent with reasonable risk. |
|
Kevin P. Loome (2007)
Paul Grillo (2001)
Roger A. Early (2007)
Thomas H. Chow (2007)
Wen-Dar Chen (2007)
Delaware Management Company
|
Main investment strategies
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The Fund allocates its investments principally among the following four sectors of the fixed income securities markets: the U.S. Investment Grade Sector, the U.S. High-Yield Sector, the International Developed Markets Sector, and the Emerging Markets Sector. Under normal circumstances, the Fund will invest at least 80% of its net assets in fixed income securities (the 80% policy). We will determine how much of the Fund to allocate to each of the four sectors, based on our evaluation of economic and market conditions and our assessment of the returns and potential for appreciation that can be achieved from investments in each of the four sectors. We will periodically reallocate the Fund's assets, as deemed necessary.
In unusual market conditions, in order to meet redemption requests, for temporary defensive purposes, and pending investment, the Fund may hold a substantial portion of its assets in cash or short-term fixed income obligations. The Fund may also use a wide range of hedging instruments, including options, futures contracts, and options on futures contracts subject to certain limitations.
The Fund's investments in emerging markets will, in the aggregate, be limited to no more than 15% of the Fund's total assets. The Manager will limit non-U.S. dollar denominated securities to no more than 50% of net assets, but total non-U.S. dollar currency exposure will be limited, in aggregate, to no more than 25% of net assets.
The Fund's 80% policy described above may be changed without shareholder approval. However, shareholders will be given notice at least 60 days prior to any such change.
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| Fund information (As of 10/31/09) |
| Total net assets |
$5.5 billion |
| Class A |
$3.7 billion |
| Class B |
$50.6 million |
| Class C |
$1.4 billion |
| Class I |
$323.1 million |
| Class R |
$137.2 million |
| Inception date |
|
| Class A |
12/29/97 |
| Class B |
10/28/02 |
| Class C |
10/28/02 |
| Class I |
10/28/02 |
| Class R |
06/02/03 |
| Dividends |
Mid Month |
| Capital gains |
December |
|
Fund Facts
| Fund identifiers |
| |
Class A |
Class B |
Class C |
Class I |
Class R |
| NASDAQ |
DPDFX |
DPBFX |
DPCFX |
DPFFX |
DPRFX |
| CUSIP |
246248744 |
246248611 |
246248595 |
246248587 |
246248553 |
| Delaphone ID |
189 |
193 |
194 |
195 |
531 |
|
| Expense information |
| |
Class A |
Class B |
Class C |
Class I |
Class R |
| Max sales load |
4.50% |
0.00% |
0.00% |
0.00% |
0.00% |
| Max CDSC |
0.00% |
4.00% |
1.00% |
0.00% |
0.00% |
| Management fee |
0.47% |
0.47% |
0.47% |
0.47% |
0.47% |
| Net expense ratio |
0.97% |
1.72% |
1.72% |
0.72% |
1.22% |
| Gross expense ratio |
1.02% |
1.72% |
1.72% |
0.72% |
1.32% |
|
Quarter-End Performance
The performance data quoted represent past performance; past performance does not guarantee future results. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Performance includes reinvestment of all distributions and is subject to change. Expenses may have been subsidized. Had they not, performance would be lower. For more information, please call 800 523-1918. Class A shares have a maximum up-front sales charge of 4.50% and are subject to an annual distribution fee. Class B shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of up to 4.00% if redeemed before the end of the 6th year. Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Class R shares are subject to an annual distribution fee. Please see the fee table in the Fund's prospectus for more information.
Investors should consider the investment objectives, risks, charges, and expenses of the investment company carefully before investing. The prospectus contains this and other important information about the investment company. Please request a prospectus by calling 800 523-1918 or by visiting our Web site at www.delawareinvestments.com. Read it carefully before you invest or send money.
Class I and R shares are only available to certain investors. See the prospectus and statement of additional information for a complete explanation.
| Cumulative Data (as of 11/20/09) |
|
Average Annualized (as of 09/30/09) |
| |
Price |
Net Chg |
YTD |
|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Since
Inception |
Inception
Date |
| Class A |
| At NAV |
$9.32 |
-0.01 |
23.71% |
|
20.47% |
8.75% |
6.97% |
8.61% |
8.27% |
12/29/97 |
| At offer |
$9.76 |
-- |
-- |
|
15.00% |
7.08% |
5.98% |
8.11% |
7.84% |
|
| |
| Class B |
| At NAV |
$9.31 |
-0.01 |
22.92% |
|
19.60% |
7.95% |
6.19% |
n/a |
7.63% |
10/28/02 |
| At offer |
$9.31 |
-- |
-- |
|
15.60% |
7.31% |
5.95% |
n/a |
7.63% |
|
| |
| Class C |
| At NAV |
$9.32 |
-0.01 |
22.89% |
|
19.57% |
7.94% |
6.20% |
n/a |
7.64% |
10/28/02 |
| At offer |
$9.32 |
-- |
-- |
|
18.57% |
7.94% |
6.20% |
n/a |
7.64% |
|
| |
| Class R |
| At NAV |
$9.32 |
-0.01 |
23.60% |
|
20.17% |
8.48% |
6.69% |
n/a |
6.69% |
06/02/03 |
| At offer |
$9.32 |
-- |
-- |
|
20.17% |
8.48% |
6.69% |
n/a |
6.69% |
|
| |
|
Click here for Gross Expense Ratio
Holdings
| Maturity distribution (as of 10/31/09)
|
| |
|
% of Portfolio |
| Under 1 Yr |
5.7% |
|
| 1 to 3 Yrs |
15.8% |
|
| 3 to 5 Yrs |
22.5% |
|
| 5 to 7 Yrs |
20.1% |
|
| 7 to 10 Yrs |
21.5% |
|
| 10 to 20 Yrs |
5.7% |
|
| 20 Yrs and over |
8.5% |
|
|
|
|
| Top 10 holdings (as of 10/31/09)
|
| |
| Holding |
% of Portfolio |
| U.S. Treasury N/B |
1.52% |
|
| FNCL Nov TBA |
0.83% |
|
| General Electric Capital Corp |
0.78% |
|
| FNCL Nov TBA |
0.71% |
|
| FNCL Nov TBA |
0.7% |
|
| Citigroup Inc |
0.59% |
|
| Dow Chemical Co/The |
0.58% |
|
| Jp Morgan Chase Capital Xxv |
0.58% |
|
| Mexican Bonos |
0.55% |
|
| Ford Motor Company Term B |
0.5% |
|
| Total % Portfolio in Top 10 holdings |
7.4% |
|
|
|
| Top 10 sectors (as of 10/31/09)
|
| |
| Sector |
% of Portfolio |
| Investment Grade Credit |
32.9% |
|
| High Yield Credits |
31.7% |
|
| Mbs & CMOs |
12.5% |
|
| Non-Dollar |
6.0% |
|
| Commercial Mortgage-backed securitiesuri |
4.8% |
|
| Cash |
3.5% |
|
| Emerging markets |
3.1% |
|
| Abs |
2.8% |
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| U.S. Treasury securities |
2.4% |
|
| Municipal bonds |
0.2% |
|
|
|
|
| Holding information (as of 10/31/09)
|
| |
| # Securities |
1,197 |
|
| # Fixed Income Securities |
1,171 |
|
| # Equity Securities |
19 |
|
| # Countries |
34 |
|
| # Issuers |
873 |
|
|
| Asset allocation (as of 10/31/09)
|
| |
| High Grade Securities |
57.9% |
|
| High Yield Securities |
33.0% |
|
| Non-U.S. Dollar Denominated Securities |
6.0% |
|
| Emerging Markets |
3.1% |
|
|
|
|
Portfolio Characteristics
| Fixed income statistics |
|
| |
As of 10/31/09 |
|
Beta vs Benchmark
|
1.20 |
|
|
Annualized Standard Deviation
|
6.72 |
|
|
Weighted Average Credit Quality
|
BBB |
|
|
Weighted Average Effective Maturity
|
7.7 years |
|
|
Weighted Average Coupon
|
6.82% |
|
|
Weighted Average Effective Duration
|
4.1 years |
|
|
Effective at the close of business on May 31, 2007, no new or subsequent investments will be allowed in Class B shares of the Delaware Investments® Family of Funds except through a reinvestment of dividends or capital gains or permitted exchanges. http://www.delawareinvestments.com/Corporate/shareholder/supp_bclass.pdf
The Fund will also be affected by prepayment risk due to its holdings of mortgage-backed securities. With prepayment risk, when homeowners prepay mortgages during periods of low interest rates, the Fund may be forced to re-deploy its assets in lower yielding securities.
If, and to the extent that, we invest in forward foreign currency contracts or use other investments to hedge against currency risks, the Fund will be subject to the special risks associated with those activities
A rise/fall in the interest rates can have a significant impact on bond prices and the NAV (net asset value) of the fund. Funds that invest in bonds can lose their value as interest rates rise and an investor can lose principal.
The Delaware information provided herein may be used in conjunction with the offering of shares only if preceded or accompanied by a prospectus. All Delaware Funds are offered by prospectus only. The prospectus contains more complete information on advisory fees, distribution charges, and other expenses and should be read carefully before investing or sending money. A printed copy of any Delaware Investments fund prospectus may be obtained by calling Delaware Investments at 800 523-1918.
Distributed by Delaware Distributors L.P.
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