Delaware Cash Reserve® Fund

Objective

Delaware Cash Reserve Fund seeks to provide maximum current income, while preserving principal and maintaining liquidity.

Strategy

The Fund invests primarily in short-term money market securities, including securities issued or guaranteed by the U.S. government, asset-backed securities, and short-term debt instruments of banks and corporations.

Fund information
Inception date06/30/1978
Dividends paid (if any)Monthly
Fund identifiers
NASDAQDCRXX
CUSIP245910104
Account features
CheckwritingYes
Payroll DeductionYes
IRAsYes
Investment minimums
Initial investment$1,000
Subsequent Investments$100
Systematic withdrawal balance$5,000

On Sept. 25, 2014, Class B shares of the Fund converted to Consultant Class shares.

The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance quoted.

Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.

7-day yield
As of 11/25/20140.02%

The 7-day yield more closely reflects the current earnings of the Fund than do the total returns.

Average annual total return as of month-end (10/31/2014)
YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)0.02%0.02%0.06%0.05%1.44%5.06%06/30/1978
Average annual total return as of quarter-end (09/30/2014)
QTDYTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)0.01%0.02%0.03%0.06%0.05%1.45%5.07%06/30/1978

Returns for less than one year are not annualized.

Expense ratio
Gross0.69%
Net0.69%

In efforts to prevent a negative yield, the Fund's investment manager, Delaware Management Company (Manager), has voluntarily agreed to waive or limit its fees, pay/reimburse expenses and, if necessary, make a capital infusion into the Fund. These waivers and reimbursements are voluntary and may be modified or discontinued by the Manager and the Fund's distributor, Delaware Distributors, L.P. (Distributor) at any time, and without further notice.

Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20140.00%0.01%0.01%n/an/a
20130.02%0.01%0.01%0.01%0.05%
20120.02%0.03%0.02%0.02%0.10%
20110.01%0.01%0.01%0.02%0.05%
20100.01%0.01%0.01%0.01%0.06%
20090.08%0.04%0.03%0.01%0.16%
20080.81%0.51%0.46%0.35%2.15%
20071.15%1.17%1.19%1.13%4.71%
20060.94%1.07%1.17%1.18%4.43%
20050.45%0.59%0.71%0.84%2.60%
20040.15%0.15%0.26%0.34%0.91%
Portfolio characteristics - as of 10/31/2014
Share assets$184.8 million
Number of holdings49
Effective maturity (weighted average) (view definition)47 days
Portfolio composition as of 10/31/2014Total may not equal 100% due to rounding.
Cash and cash equivalents100.0%
Top 10 holdings as of 10/31/2014
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holding% of portfolio
FEDERAL HOME LOAN BANKS2.0%
BlackRock Inc. 3.500 12/10/20141.7%
New York State Housing Finance Agency 0.070 5/1/20441.0%
Bank of New York Mellon Corp. 4.950 3/15/20150.3%
American Honda Finance Corp. 1.450 2/27/20150.3%
General Electric Capital Corp. 3.500 6/29/20150.2%
Total % Portfolio in Top 10 holdings5.5%

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

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2010 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

Top sectors as of 10/31/2014
List excludes cash and cash equivalents.
Sector% of portfolio
Sovereign2.0%
Diversified Financial Services1.7%
Municipal1.0%
Diversified Finan Serv0.5%
Banks0.3%
Distribution history - annual distributions (Class A)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20140.0000.000
20130.0000.000
20120.0000.001
20110.0000.000
20100.0000.001
20090.0000.002
20080.0000.022
20070.0000.046
20060.0000.043
20050.0000.025
20040.0000.009

1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).

2Information on return of capital distributions is only provided from June 1, 2014 onward.

3Includes both short- and long-term capital gains.

Cynthia Isom

Cynthia I. Isom  

Vice President, Portfolio Manager

Start date on the Fund: April 1998

Years of industry experience: 38

(View bio)


Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering pricenone
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees0.45%
Distribution and service (12b-1) feesnone
Other expenses0.24%
Total annual fund operating expenses0.69%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements0.69%

1In efforts to prevent a negative yield, the Fund's investment manager, Delaware Management Company (Manager), has voluntarily agreed to waive or limit its fees, pay/reimburse expenses and, if necessary, make a capital infusion into the Fund. These waivers and reimbursements and capital infusions are voluntary and may be modified or discontinued by the Manager and the Fund's distributor, Delaware Distributors, L.P. (Distributor) at any time, and without further notice.

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 clicking the prospectus link located in the right-hand sidebar 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.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of an investment at $1.00 per share, it is possible to lose money by investing in them.

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Daily pricing (as of 11/25/2014)

Class APriceNet changeYTD
NAV$1.00no chg0.02%
Max offer price$1.00n/an/a

Total net assets (as of 10/31/2014)

$198.7 million all share classes

Lipper ranking (as of 10/31/2014)

YTD ranking11 / 217
1 year12 / 217
3 years8 / 210
5 years10 / 196
10 years70 / 167
Lipper classificationMoney Market Funds

(View Lipper disclosure)

Additional information