Delaware Investments Delaware Investments Delaware Investments

Small-Cap Value / Mid-Cap Value Equity team

Small/Mid-Cap Value Equity team

Bottom-up research

Christopher S. Beck, CFA

Chris Beck, chief investment officer for the Small-Cap Value / Mid-Cap Value Equity team, discusses the importance of bottom-up (stock-by-stock) research in his team’s investment process. Run time (1:17)

The views expressed represent the Manager’s assessment of the Fund and market environment as of August 2012, and should not be considered a recommendation to buy, hold, or sell any security, and should not be relied on as research or investment advice.

Our team
Market Talk

Small-cap equities: Signs of life despite a lumbering economy

Listen as Chris Beck takes you through his views on recent developments in the small-cap market that provide for investor confidence. [Runtime: 5:20]

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Investment philosophy

We are a value manager. We believe that markets misprice securities. Our mission is to exploit this inefficiency on a consistent basis through active, research-based management.

Investment team

Chris Beck

Christopher S. Beck, CFA

Chief Investment Officer — Small-Cap Value / Mid-Cap Value Equity

(View bio)

Kent P. Madden, CFA

Portfolio Manager, Equity Analyst

(View bio)

Kelley A. McKee, CFA

Portfolio Manager, Equity Analyst

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Steven G. Catricks, CFA

Portfolio Manager, Equity Analyst

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Chris Beck on the importance of free cash flow in his team’s investment process. Run time (0:27)

The views expressed represent the Manager’s assessment of the Fund and market environment as of August 2012, and should not be considered a recommendation to buy, hold, or sell any security, and should not be relied on as research or investment advice.

Video: Fundamental research
Distinguishing characteristics / Funds we manage

Distinguishing characteristics

  • Intensive fundamental, bottom-up (stock-by-stock) research is the foundation of our process and the primary source of excess return
  • Focus on cash flow and the ability to generate sustainable free cash flow is the most important variable in our stock selection
  • Tenured team
  • Controlling risk throughout the process
  • Effective, timely decision making is part of our process.

Learn more about the Funds we manage:

Fund Load waived
With load
Delaware Small Cap Value Fund1
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4 stars
4 stars
Delaware Mid Cap Value Fund
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1 (View Morningstar disclosure)

Chris Beck on the benefits of the Delaware Investments multiboutique structure. Run time (0:59)

The views expressed represent the Manager’s assessment of the Fund and market environment as of August 2012, and should not be considered a recommendation to buy, hold, or sell any security, and should not be relied on as research or investment advice.

Our team
Video: Fundamental research

A 10-K is a financial document that explains a company's finances, risks, opportunities, and current operations. A 10-Q is a smaller version of a 10-K and it available each quarter.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund’s prospectus and its summary prospectus, which may be obtained by visiting our fund literature page or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

IMPORTANT RISK CONSIDERATIONS

Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.

A bottom-up approach to investing primarily considers factors affecting individual companies and secondarily focuses on industries and economic trends.

Price-to-cash flow ratio is a measure of the market's expectations of a firm's future financial health.

Not FDIC Insured | No Bank Guarantee | May Lose Value