Institutional Class shares

Alternative/specialty funds

• Delaware Global Real Estate Securities Fund
• Delaware Healthcare Fund
• Delaware Macquarie Global Infrastructure Fund
• Delaware REIT Fund

Fixed income funds

• Delaware Core Bond Fund
• Delaware Core Plus Bond Fund
• Delaware Corporate Bond Fund
• Delaware Diversified Floating Rate Fund
• Delaware Diversified Income Fund
• Delaware Extended Duration Bond Fund
• Delaware High-Yield Opportunities Fund
• Delaware Inflation Protected Bond Fund
• Delaware International Bond Fund
• Delaware Limited-Term Diversified Income Fund
• Delaware National High-Yield Municipal Bond Fund
• Delaware Tax-Free USA Fund
• Delaware Tax-Free USA Intermediate Fund

Global/international equity funds

• Delaware Emerging Markets Fund
• Delaware Focus Global Growth Fund
• Delaware Global Value Fund
• Delaware International Value Equity Fund

Income and growth fund

• Delaware Dividend Income Fund

Multi-asset funds

• Delaware Foundation^® Conservative Allocation Fund
• Delaware Foundation^® Equity Fund
• Delaware Foundation^® Growth Allocation Fund
• Delaware Foundation^® Moderate Allocation Fund

U.S. core equity fund

• Delaware Small Cap Core Fund

U.S. growth equity funds

• Delaware Select Growth Fund
• Delaware Smid Cap Growth Fund*
• Delaware U.S. Growth Fund

U.S. value equity funds

• Delaware Mid Cap Value Fund
• Delaware Small Cap Value Fund
• Delaware Value^® Fund

 

*Effective at the close of business on Feb. 24, 2012, Delaware Smid Cap Growth Fund was closed to new investors. Existing shareholders of the Fund; certain retirement plans and IRA transfers and rollovers from these plans; and certain advisory or fee-based programs sponsored by and/or controlled by financial intermediaries where the financial intermediary has entered into an arrangement with the Fund’s Distributor or transfer agent (mutual fund wrap accounts) may continue to purchase shares. Please read the prospectus and supplement, dated Feb. 9, 2012, and the summary prospectus for more information concerning this event.

Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds' prospectuses, and, if available, their summary prospectuses which may be obtained by visiting the literature section or calling 800 362-7500. Investors should read the prospectus and, if available, the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

The Funds are distributed by Delaware Distributors L.P., an affiliate of Delaware Management Holdings, Inc., and Macquarie Group Limited.