Delaware Enhanced Global Dividend and Income Fund

Objective

The Fund's primary investment objective is to seek current income, with a secondary objective of capital appreciation.

Strategy

The Fund's primary investment objective is to seek current income, with a secondary objective of capital appreciation. The Fund invests globally in dividend-paying or income-generating securities across multiple asset classes, including but not limited to: equity securities of large, well-established companies, securities issued by real estate companies (including real estate investment trusts and real estate industry operating companies), debt securities (such as government bonds, investment grade and high risk, high yield corporate bonds, and convertible bonds), and emerging market securities. The Fund also utilizes enhanced income strategies by engaging in dividend capture trading, option overwriting, and realization of gains on the sale of securities, dividend growth, and currency forwards.

Under normal market conditions, the Fund will invest: (1) at most 60% of its net assets in securities of U.S. issuers; and (2) at least 40% of its net assets in securities of non-U.S. issuers, unless market conditions are not deemed favorable by the Manager, in which case, the Fund would invest at least 30% of its net assets in securities of non-U.S. issuers. In addition, the Fund utilizes leveraging techniques in an attempt to obtain higher return for the Fund.

Historic pricing
NAV dateNAVMarket pricePremium/Discount
10/17/2014$12.79$11.39-10.95%
10/16/2014$12.61$11.10-11.97%
10/15/2014$12.61$11.04-12.45%
10/14/2014$12.82$11.19-12.71%
10/13/2014$12.78$11.15-12.75%
Fund information as of 09/30/2014
Ticker symbol (NAV)XDEWX
Ticker symbolDEX
Trading ExchangeNYSE
SEC yield4.15%
YTD distributions declared$0.68
Expense ratio1.15%
Turnover ratio56%
Inception date06/29/2007

Holdings are as of the date indicated and subject to change.

Bob Zenouzi

Bob Zenouzi 

Senior Vice President, Chief Investment Officer — Real Estate Securities and Income Solutions (RESIS)

Start date on the Fund: June 2007

Years of industry experience: 28

(View bio)


Ty Nutt

Ty Nutt  

Senior Vice President, Senior Portfolio Manager, Team Leader

Start date on the Fund: June 2007

Years of industry experience: 31

(View bio)


Damon Andres

Damon Andres, CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: June 2007

Years of industry experience: 23

(View bio)


Ned Gray

Ned Gray, CFA

Senior Vice President, Chief Investment Officer — Global and International Value Equity

Start date on the Fund: July 2008

Years of industry experience: 28

(View bio)


Liu-Er Chen

Liu-Er Chen, CFA

Senior Vice President, Chief Investment Officer — Emerging Markets and Healthcare

Start date on the Fund: June 2007

Years of industry experience: 18

(View bio)


Roger Early

Roger Early, CPA, CFA, CFP

Senior Vice President, Co-Chief Investment Officer — Total Return Fixed Income Strategy

Start date on the Fund: January 2008

Years of industry experience: 38

(View bio)


Thomas Chow

Thomas H. Chow, CFA

Senior Vice President, Chief Investment Officer — Corporate Credit

Start date on the Fund: June 2007

Years of industry experience: 26

(View bio)


Wayne Anglace

Wayne A. Anglace, CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: March 2010

Years of industry experience: 16

(View bio)


Paul Matlack

Paul Matlack, CFA

Senior Vice President, Senior Portfolio Manager, Fixed Income Strategist

Start date on the Fund: December 2012

Years of industry experience: 29

(View bio)


Craig Dembeck

Craig C. Dembek, CFA

Senior Vice President, Co-Head of Credit Research, Senior Research Analyst

Start date on the Fund: December 2012

Years of industry experience: 20

(View bio)


John McCarthy

John P. McCarthy, CFA

Senior Vice President, Co-Head of Credit Research, Senior Research Analyst

Start date on the Fund: December 2012

Years of industry experience: 27

(View bio)


Christopher Testa

Christopher M. Testa, CFA

Senior Vice President, Senior Portfolio Manager

Start date on the Fund: June 2014

Years of industry experience: 28

(View bio)


Ratios and supplemental data
Year ended

  11/30/13 11/30/12 11/30/11 11/30/10 11/30/09
Net assets, end of period (000 omitted) $214,429 $190,602 $179,414 $160,465 $156,048
Ratio of expenses to average net assets1,2 1.88% 2.15% 1.98% 1.95% 2.14%
Ratio of net investment income to average net assets3 4.47% 4.74% 4.68% 4.68% 6.73%
Portfolio turnover 56% 53% 72% 83% 88%

1The ratio of expenses before interest expense to adjusted average net assets (excluding debt outstanding) for the years ended Nov. 30, 2013, 2012, 2011, 2010, and 2009 were 1.15%, 1.19%, 1.28%, 1.22%, and 1.26%, respectively.

2The ratio of interest expense to adjusted average net assets (excluding debt outstanding) for the years ended Nov. 30, 2013, 2012, 2011, 2010, and 2009 were 0.27%, 0.42%, 0.31%, 0.33%, and 0.35%, respectively.

3The ratio of net investment income to adjusted net assets for the years ended Nov. 30, 2013, 2012, 2011, 2010, and 2009 were 3.38%, 3.57%, 3.76%, 3.73%, and 5.06%, respectively.

Investing in closed-end investment companies involves risk, including the possible loss of principal.

Diversification may not protect against market risk.

Fixed income securities and bond funds can lose value, and investors can lose principal, as interest rates rise. They also may be affected by economic conditions that hinder an issuer’s ability to make interest and principal payments on its debt.

The Fund may also be subject to prepayment risk, the risk that the principal of a fixed income security that is held by the Fund may be prepaid prior to maturity, potentially forcing the Fund to reinvest that money at a lower interest rate.

High yielding, noninvestment grade bonds (junk bonds) involve higher risk than investment grade bonds.

Narrowly focused investments may exhibit higher volatility than investments in multiple industry sectors.

REIT investments are subject to many of the risks associated with direct real estate ownership, including changes in economic conditions, credit risk, and interest rate fluctuations.

The Funds may invest in derivatives, which may involve additional expenses and are subject to risk, including the risk that an underlying security or securities index moves in the opposite direction from what the portfolio manager anticipated. A derivative transaction depends upon the counterparties’ ability to fulfill their contractual obligations.

International investments entail risks not ordinarily associated with U.S. investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations.

Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.

If and when the Fund invests in forward foreign currency contracts or uses other investments to hedge against currency risks, the Fund will be subject to special risks, including counterparty risk.

The Fund may experience portfolio turnover that approaches or exceeds 100%, which could result in higher transaction costs and tax liability.

NAV, market price, and premium or discount will fluctuate with changes in market conditions. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment.

Market Price is the price an investor would pay for shares of a fund on the secondary market. Market price shown is the market closing price as of the previous business day.

Net asset value (NAV) is the total assets less total liabilities divided by the number of shares outstanding.

Premium/Discount is the amount by which the market price trades above or below the NAV.

If and when the Fund utilizes leverage, the Fund may not be permitted to declare dividends or other distributions with respect to its common shares or purchase its capital stock, unless the Fund meets certain asset coverage requirements.

To the extent the Fund engages in option overwriting, it may receive less total return in certain periods and in other periods greater total return from its option overwriting strategy.

The use of dividend capture strategies will expose the Fund to increased trading costs and potential for capital loss or gain, particularly in the event of significant short-term price movements of stocks subject to dividend capture trading, and resultant dividends may not be qualified dividends eligible to individuals for reduced federal income tax rates.

Closed-end funds, unlike open-end funds, are not continuously offered. After being issued during a one-time-only public offering, shares of closed-end funds are sold in the open market through a securities exchange. Net asset value (NAV) is calculated by subtracting total liabilities by total assets, then dividing by the number of shares outstanding. At the time of sale, your shares may have a market price that is above or below NAV, and may be worth more or less than your original investment.

The Fund may make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a Fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Total net assets (as of 09/30/2014)

$212.2 million all share classes

Lipper ranking (as of 09/30/2014)

YTD ranking10 / 23
1 year10 / 22
3 years7 / 22
5 years5 / 20
10 yearsn/a
Lipper classificationCE Global Funds

(View Lipper disclosure)

Literature

Additional information