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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
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Portfolio manager(s)
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| Delaware Inflation Protected Bond Fund seeks to provide inflation protection and current income. |
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Paul Grillo (2007)
Roger A. Early (2007)
Delaware Management Company
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Main investment strategies
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Under normal circumstances, the Fund will invest at least 80% of its net assets in inflation indexed bonds issued by the U.S. government, its agencies or instrumentalities, and corporations. This policy is not a fundamental policy and can be changed without shareholder approval. However, shareholders would be given notice at least 60 days prior to any change in this policy. We may also invest in other securities including, but not limited to, mortgage and asset-backed securities, commercial mortgage-backed securities, options, futures contracts, forward contracts, swap agreements, commodity linked notes, foreign and high yield securities, and loan participations. We will seek to maintain the Fund's interest rate sensitivity at a level approximating that of the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) Index.
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| Fund information (As of 10/31/09) |
| Total net assets |
$268.2 million |
| Class A |
$102.8 million |
| Class B |
$2.0 million |
| Class C |
$48.9 million |
| Class I |
$114.5 million |
| Inception date |
|
| Class A |
12/01/04 |
| Class B |
12/01/04 |
| Class C |
12/01/04 |
| Class I |
12/01/04 |
| Dividends |
Mid Month |
| Capital gains |
|
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Fund Facts
| Fund identifiers |
| |
Class A |
Class B |
Class C |
Class I |
| NASDAQ |
DIPAX |
DIPBX |
DIPCX |
DIPIX |
| CUSIP |
246094882 |
246094874 |
246094866 |
246094858 |
| Delaphone ID |
556 |
557 |
558 |
559 |
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| Expense information |
| |
Class A |
Class B |
Class C |
Class I |
| Max sales load |
4.50% |
0.00% |
0.00% |
0.00% |
| Max CDSC |
0.00% |
4.00% |
1.00% |
0.00% |
| Management fee |
0.45% |
0.45% |
0.45% |
0.45% |
| Net expense ratio |
0.75% |
1.50% |
1.50% |
0.50% |
| Gross expense ratio |
0.94% |
1.69% |
1.69% |
0.69% |
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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 |
$10.50 |
-0.03 |
11.83% |
|
6.63% |
6.11% |
n/a |
n/a |
5.06% |
12/01/04 |
| At offer |
$10.99 |
-- |
-- |
|
1.85% |
4.51% |
n/a |
n/a |
4.07% |
|
| |
| Class B |
| At NAV |
$10.50 |
-0.03 |
11.12% |
|
5.87% |
5.32% |
n/a |
n/a |
4.34% |
12/01/04 |
| At offer |
$10.50 |
-- |
-- |
|
1.87% |
4.63% |
n/a |
n/a |
4.08% |
|
| |
| Class C |
| At NAV |
$10.50 |
-0.03 |
11.12% |
|
5.87% |
5.31% |
n/a |
n/a |
4.34% |
12/01/04 |
| At offer |
$10.50 |
-- |
-- |
|
4.87% |
5.31% |
n/a |
n/a |
4.34% |
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| |
|
Click here for Gross Expense Ratio
Holdings
| Maturity distribution (as of 10/31/09)
|
| |
|
% of Portfolio |
| Under 1 Yr |
5.1% |
|
| 1 to 3 Yrs |
24.7% |
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| 3 to 5 Yrs |
14.9% |
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| 5 to 7 Yrs |
30.7% |
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| 7 to 10 Yrs |
14.4% |
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| 10 to 20 Yrs |
7.2% |
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| 20 Yrs and over |
3.0% |
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| Top 10 holdings (as of 10/31/09)
|
| |
| Holding |
% of Portfolio |
| Tsy Infl Ix N/B |
12.98% |
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| Tsy Infl Ix N/B |
12.09% |
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| Tsy Infl Ix N/B |
8.49% |
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| Tsy Infl Ix N/B |
7.99% |
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| Tsy Infl Ix N/B |
7.71% |
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| Tsy Infl Ix N/B |
7.65% |
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| Tsy Infl Ix N/B |
7.3% |
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| Tsy Infl Ix N/B |
4.82% |
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| Tsy Infl Ix N/B |
4.53% |
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| Tsy Infl Ix N/B |
2.64% |
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| Total % Portfolio in Top 10 holdings |
76.2% |
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| Top 10 sectors (as of 10/31/09)
|
| |
| Sector |
% of Portfolio |
| Tips |
78.1% |
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| High Yield Credits |
7.7% |
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| Investment Grade Credit |
5.3% |
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| U.S. Treasury securities |
4.3% |
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| Cash/Other |
4.3% |
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| Commercial Mortgage-backed securitiesuri |
0.2% |
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| Abs |
0.1% |
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| Mbs & CMOs |
n/a |
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| Non-Dollar |
n/a |
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| Agency Bonds |
n/a |
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| Holding information (as of 10/31/09)
|
| |
| # Securities |
100 |
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| # Fixed Income Securities |
98 |
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| # Equity Securities |
0 |
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| # Countries |
7 |
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| # Issuers |
88 |
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| Asset allocation (as of 10/31/09)
|
| |
| U.S. Government Securities |
82.5% |
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| Corporate Bonds |
12.9% |
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| Cash & Cash Equivalents |
4.3% |
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| Mortgage-Backed Securities |
0.2% |
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| Asset-Backed Securities |
0.1% |
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| Non-Corporate Securities |
0.1% |
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| Municipal Bonds |
n/a |
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Portfolio Characteristics
| Fixed income statistics |
|
| |
As of 10/31/09 |
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Annualized Standard Deviation
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7.68 |
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Weighted Average Credit Quality
|
AAA |
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Weighted Average Effective Maturity
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6.3 years |
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Weighted Average Coupon
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3.09% |
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Weighted Average Effective Duration
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4.4 years |
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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.
Distributed by Delaware Distributors L.P.
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