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 Paul Grillo
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| Education |
| Mr. Grillo holds a bachelor's degree in Business Management from North Carolina State University and an MBA in Finance from Pace University. |
| Experience |
| Prior to joining Delaware in 1992, Mr. Grillo served as mortgage strategist and trader at Dreyfus Corporation. He also served as mortgage strategist and portfolio manager at Chemical Investment Group and as financial analyst at Chemical Bank. He is a CFA Charterholder. |
| Other Funds Managed |
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High-yielding, non-investment grade bonds involve higher risk than investment grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities.
Inflation-protected debt securities tend to react to changes in interest rates, that is, the expected impact of inflation on interest rates. In general, the price of an inflation-protected debt security can fall when interest rates rise, and can rise when interest rates fall. Interest payments on inflation-protected debt securities will vary as the principal and/or interest is adjusted for inflation.
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 experience portfolio turnover in excess of 100%, which could result in higher transaction costs and tax liability for investors.
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.
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