Delaware Small Cap Core Fund - Overview

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Fund profile
Objective		Portfolio manager(s)
Delaware Small Cap Core Fund seeks long-term capital appreciation.		Christopher S. Adams (2004) Donald G. Padilla (2004) Francis X. Morris (2004) Michael S. Morris (2004) Delaware Management Company
Main investment strategies
We invest primarily in common stocks of small growth-oriented or emerging growth companies that we believe offer above-average opportunities for long-term price appreciation. Under normal circumstances, the Fund will invest at least 80% of its net assets in investments of small-capitalization companies (the 80% policy). The Fund uses a bottom-up approach to security selection that seeks companies with high-expected growth in earnings and revenues, which are believed to be leaders, or are expected to be leaders, in their respective industries. This means we search for outstanding performance of individual stocks before considering the impact of economic trends. We look at estimated growth rates, price-to-earnings ratios, market capitalization and cash flows as we strive to determine how attractive a company is relative to other companies.
Fund information (As of 10/31/09)
Equity style		Total net assets $65.3 million       Class A $24.3 million       Class C $7.8 million       Class I $29.4 million       Class R $3.7 million Inception date         Class A 12/29/98       Class C 08/01/05       Class I 12/29/98       Class R 08/01/05 Dividends Annual Capital gains December

Funds that invest small and/or mid-size company stocks typically involve greater risk, particularly in the short term, than those investing in larger, more established companies.

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.