Delaware Growth Opportunities Fund - Overview

Overview Fund facts Performance Holdings Distributions Manager bios Portfolio characteristics Account features Shareholder literature Prospectus Fund summary

Fund profile
Objective		Portfolio manager(s)
Delaware Growth Opportunities Fund seeks long-term capital growth.		Marshall T. Bassett (1997) Barry S. Gladstein (2005) Christopher M. Holland (2005) Lori P. Wachs (1997) Michael S. Tung, M.D. (2007) Rudy D. Torrijos III (2005) Delaware Management Company
Main investment strategies
We invest primarily in common stocks of medium-sized companies. We consider medium-sized companies to be those companies whose market capitalizations fall within the range represented in the Russell Midcap® Growth Index at the time of the Fund's investment. As of the latest reconstitution on Dec. 31, 2007, the average market capitalization of a company in the Russell Midcap® Growth Index was approximately $9.9 billion and the median market capitalization was approximately $4.5 billion. The Index had a total market capitalization range of approximately $624 million to $42 billion. We may also invest in securities that are convertible into common stock. In selecting stocks for the Fund, we typically look for companies that have established themselves within their industry, but still have growth potential. We use a bottom-up approach to select stocks, evaluating individual companies rather than trends in the economy or the investment markets. Researching each company, its products, services, competitors, and management team helps us to select stocks of companies that we think will provide high and consistent earnings growth with a reasonable level of risk.
Fund information (As of 10/31/09)
Equity style		Total net assets $232.3 million       Class A $217.9 million       Class B $3.8 million       Class C $5.3 million       Class I $4.5 million       Class R $0.7 million Inception date         Class A 03/27/86       Class B 09/06/94       Class C 11/29/95       Class I 11/09/92       Class R 06/02/03 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.

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 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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