Delaware Pooled® Trust Portfolios

U.S. Growth Equity Portfolios

U.S. Value Equity Portfolios

International Equity Portfolios

U.S. Fixed Income Portfolios

*Proposed reorganization

On November 18, 2015, the Board of Trustees of the Trust approved the submission of an Agreement and Plan of Reorganization to shareholders of The International Equity Portfolio, proposing to merge The International Equity Portfolio into the Mondrian International Equity Fund series of Gallery Trust (the “Reorganization”). The Reorganization is subject to the approval of the shareholders of The International Equity Portfolio and is intended to be a tax-free transaction. On the date of the Reorganization, The International Equity Portfolio will exchange all of its assets at net asset value for shares of the Mondrian International Equity Fund. Shareholders of The International Equity Portfolio will receive shares of the Mondrian International Equity Fund with a value equal to the net asset value of their ownership interests in the Portfolio at the date of the Reorganization. More information about the proposed Reorganization will be provided to shareholders in the proxy materials. If approved by shareholders of The International Equity Portfolio, the Reorganization is expected to occur in the first quarter of 2016.

Carefully consider the Portfolios’ investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Portfolios' prospectus and their summary prospectuses, which may be obtained by clicking here or calling 800 231-8002. Investors should read the prospectus and the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

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

Not FDIC Insured | No Bank Guarantee | May Lose Value