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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)
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| Delaware Extended Duration Bond Fund seeks to provide investors with total return. |
|
Kevin P. Loome (2007)
Roger A. Early (2007)
Thomas H. Chow (2007)
Delaware Management Company
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Main investment strategies
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We invest primarily in corporate bonds. Our focus is on corporate bonds that have investment grade credit ratings from a nationally recognized statistical ratings organization (NRSRO). The bonds we select for the portfolio are typically rated BBB and above by Standard & Poor's or Baa and above by Moody's Investors Service, Inc. We may also invest in unrated bonds, if we believe their credit quality is comparable to those that have investment grade ratings.
Delaware Extended Duration Bond Fund will typically have a duration between 8 and 11 years.
Under normal circumstances, the Fund will invest at least 80% of its net assets in corporate bonds. This policy is not a fundamental investment policy and can 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 |
$266.1 million |
| Class A |
$215.6 million |
| Class B |
$4.0 million |
| Class C |
$20.7 million |
| Class I |
$25.0 million |
| Class R |
$0.8 million |
| Inception date |
|
| Class A |
09/15/98 |
| Class B |
09/15/98 |
| Class C |
09/15/98 |
| Class I |
09/15/98 |
| Class R |
10/03/05 |
| Dividends |
Mid Month |
| Capital gains |
November |
|
Fund Facts
| Fund identifiers |
| |
Class A |
Class B |
Class C |
Class I |
Class R |
| NASDAQ |
DEEAX |
DEEBX |
DEECX |
DEEIX |
DEERX |
| CUSIP |
245908835 |
245908827 |
245908819 |
245908793 |
245908728 |
| Delaphone ID |
464 |
465 |
466 |
467 |
549 |
|
| 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 |
0.55% |
0.55% |
0.55% |
0.55% |
0.55% |
| Net expense ratio |
0.90% |
1.65% |
1.65% |
0.65% |
1.15% |
| Gross expense ratio |
1.23% |
1.93% |
1.93% |
0.93% |
1.53% |
|
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 |
$5.97 |
-0.01 |
24.75% |
|
33.35% |
8.14% |
6.72% |
8.77% |
7.68% |
09/15/98 |
| At offer |
$6.25 |
-- |
-- |
|
27.23% |
6.47% |
5.75% |
8.27% |
7.23% |
|
| |
| Class B |
| At NAV |
$5.96 |
-0.01 |
23.96% |
|
32.64% |
7.40% |
5.93% |
8.10% |
7.09% |
09/15/98 |
| At offer |
$5.96 |
-- |
-- |
|
28.64% |
6.75% |
5.69% |
8.10% |
7.09% |
|
| |
| Class C |
| At NAV |
$5.97 |
-0.01 |
23.93% |
|
32.37% |
7.34% |
5.93% |
7.96% |
6.90% |
09/15/98 |
| At offer |
$5.97 |
-- |
-- |
|
31.37% |
7.34% |
5.93% |
7.96% |
6.90% |
|
| |
| Class R |
| At NAV |
$5.98 |
no chg |
24.44% |
|
33.24% |
7.93% |
n/a |
n/a |
6.53% |
10/03/05 |
| At offer |
$5.98 |
-- |
-- |
|
33.24% |
7.93% |
n/a |
n/a |
6.53% |
|
| |
|
Click here for Gross Expense Ratio
Holdings
| Maturity distribution (as of 10/31/09)
|
| |
|
% of Portfolio |
| Under 1 Yr |
2.9% |
|
| 1 to 3 Yrs |
6.2% |
|
| 3 to 5 Yrs |
8.4% |
|
| 5 to 7 Yrs |
6.3% |
|
| 7 to 10 Yrs |
24.3% |
|
| 10 to 20 Yrs |
6.1% |
|
| 20 Yrs and over |
45.8% |
|
|
|
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| Top 10 holdings (as of 10/31/09)
|
| |
| Holding |
% of Portfolio |
| Goldman Sachs Group Inc |
2.37% |
|
| Telecom Italia Capital Sa |
1.88% |
|
| Bank of America Na |
1.54% |
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| Capital One Capital V |
1.52% |
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| Darden Restaurants |
1.46% |
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| Jp Morgan Chase Capital Xxv |
1.44% |
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| Quest Diagnostics Inc |
1.32% |
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| Fhrr R008 Za |
1.32% |
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| Carefusion Corp |
1.28% |
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| Nordstrom Inc |
1.28% |
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| Total % Portfolio in Top 10 holdings |
15.4% |
|
|
|
| Top 10 sectors (as of 10/31/09)
|
| |
| Sector |
% of Portfolio |
| Financial Institutions |
29.0% |
|
| Communications |
16.1% |
|
| Utility |
13.0% |
|
| Consumer cyclical |
8.8% |
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| Consumer noncyclical |
5.7% |
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| Basic industry |
5.5% |
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| Noncorporate |
4.3% |
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| Abs, Commercial Mortgage-backed securiti |
4.3% |
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| Capital goods |
4.0% |
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| Energy |
3.9% |
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| Holding information (as of 10/31/09)
|
| |
| # Securities |
276 |
|
| # Fixed Income Securities |
270 |
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| # Equity Securities |
1 |
|
| # Countries |
21 |
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| # Issuers |
245 |
|
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| Asset allocation (as of 10/31/09)
|
| |
| Corporate Bonds |
93.2% |
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| Mortgage-Backed/Asset Backed Securities |
4.3% |
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| Government Securities |
2.5% |
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| Municipal Bonds |
n/a |
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|
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Portfolio Characteristics
| Fixed income statistics |
|
| |
As of 10/31/09 |
|
Beta vs Benchmark
|
0.92 |
|
|
Annualized Standard Deviation
|
13.98 |
|
|
Weighted Average Credit Quality
|
BBB |
|
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Weighted Average Effective Maturity
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17.8 years |
|
|
Weighted Average Coupon
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7.24% |
|
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Weighted Average Effective Duration
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10.1 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 may be affected by economic conditions which may hinder a company's ability to make interest and principal payments on its debt.
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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