Delaware Emerging Markets Fund

Objective

Delaware Emerging Markets Fund seeks long-term capital appreciation.

Strategy

The Fund invests primarily in a broad range of equity securities of companies located in emerging market countries.

Fund information
Inception date06/10/1996
Dividends paid (if any)Annually
Capital gains paid (if any)December
Fund identifiers
NASDAQDEMIX
CUSIP245914817

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. 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.

Average annual total return as of month-end (07/31/2014)
YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)7.19%20.77%5.26%10.20%13.21%9.27%06/10/1996
MSCI Emerging Markets Index (Gross)8.46%15.72%0.74%7.68%12.72%n/a
MSCI Emerging Markets Index (Net)8.19%15.32%0.40%7.34%12.36%n/a
Average annual total return as of quarter-end (06/30/2014)
QTDYTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)7.92%6.39%25.19%4.12%12.22%13.41%9.27%06/10/1996
MSCI Emerging Markets Index (Gross)6.71%6.32%14.68%-0.06%9.58%12.30%n/a
MSCI Emerging Markets Index (Net)6.59%6.14%14.31%-0.39%9.24%11.94%n/a

Returns for less than one year are not annualized.

Expense ratio
Gross1.46%
Net1.46%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
2014-1.41%7.92%n/an/an/a
20132.15%-5.16%13.61%3.57%13.99%
201212.11%-11.73%9.48%7.73%16.72%
20113.60%-3.96%-25.47%6.98%-20.66%
20102.71%-10.48%18.01%9.54%18.85%
2009-0.91%35.18%22.81%8.59%78.62%
2008-9.65%1.79%-26.84%-26.59%-50.61%
20073.17%17.54%11.10%4.59%40.92%
20069.43%-5.92%4.58%18.38%27.45%
20051.88%3.96%16.57%2.57%26.65%
20047.41%-6.02%11.10%18.30%32.68%

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

Portfolio characteristics - as of 07/31/2014
Share assets$2.5 billion
Number of holdings128
Market cap (median)$6.21 billion
Market cap (weighted average)$40.77 billion
Portfolio turnover (last fiscal year)24%
Beta (relative to MSCI Emerging Markets Index (Gross)) (view definition)1.03
Annualized standard deviation, 3 years (view definition)20.75
Portfolio composition as of 07/31/2014Total may not equal 100% due to rounding.
International equities & depository receipts99.8%
Domestic equities1.6%
Cash and cash equivalents-1.4%
Top 10 holdings as of 07/31/2014
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holdings based by issuer.
Holding% of portfolio
Baidu Inc5.3%
Samsung Electronics Co Ltd5.2%
Reliance Industries Ltd4.8%
SK Telecom Co Ltd3.4%
Petroleo Brasileiro SA3.1%
Teva Pharmaceutical Industries2.5%
Sohu.com Inc2.5%
B2W Cia Digital2.4%
SINA Corp/China2.4%
China Mobile Ltd2.4%
Total % Portfolio in Top 10 holdings34.0%

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

Top 10 countries as of 07/31/2014List excludes cash and cash equivalents.
Country% of portfolio
China20.5%
South Korea20.0%
Brazil17.5%
Russia8.4%
Mexico6.8%
India6.7%
Taiwan4.2%
Argentina3.6%
Israel2.5%
Turkey1.9%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20140.0000.000
20130.0000.154
20120.0000.142
20110.1390.167
20100.0000.120
20090.0000.031
20080.8230.051
20075.4810.283
20065.2980.571
20050.9000.310
20040.3840.124

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.

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

Liu-Er Chen

Liu-Er Chen, CFA

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

Start date on the Fund: September 2006

(View bio)


Institutional Class shares are only available to certain investors. See the prospectus for more information. 

The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

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 fees1.18%
Distribution and service (12b-1) feesnone
Other expenses0.28%
Total annual fund operating expenses1.46%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements1.46%

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

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 800 362-7500. Investors should read the prospectus and the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

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.

Diversification may not protect against market risk.

The Funds are 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

Fund Finder

Daily pricing (as of 08/19/2014)

Institutional ClassPriceNet changeYTD
NAV$18.020.1210.76%
Max offer price$18.02n/an/a

Total net assets (as of 07/31/2014)

$3.2 billion all share classes

Lipper ranking (as of 07/31/2014)

YTD ranking288 / 734
1 year32 / 656
3 years32 / 461
5 years32 / 317
10 years23 / 152
Lipper classificationEmerging Markets Funds

(View Lipper disclosure)

Benchmark, peer group

MSCI Emerging Markets Index (view)

Lipper Emerging Markets Funds Average (view)

Additional information