Delaware Focus Global Growth Fund

Objective

Delaware Focus Global Growth Fund seeks long-term capital appreciation.

Strategy

The Fund invests primarily in common stocks of U.S. and non-U.S. companies, which may include companies located or operating in developed or emerging markets. Under normal circumstances, the Fund will invest in equity securities of issuers located throughout the world, including the United States, and the Fund will invest at least 40% of its net assets in non-U.S. securities. The Fund may invest in companies across all market capitalizations but will primarily invest in mid- and large-cap equity securities.

Fund information
Inception date12/29/2008
Dividends paid*Annually
Capital gains paid*Annually

*If any.

Fund identifiers
NASDAQDGGIX
CUSIP246118517

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 (03/31/2014)
YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-1.33%15.76%10.56%21.26%n/a20.32%12/29/2008
MSCI World Index (Gross)1.40%19.72%10.86%18.94%n/an/a
MSCI World Index (Net)1.26%19.07%10.23%18.28%n/an/a
Average annual total return as of quarter-end (03/31/2014)
QTDYTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-1.33%-1.33%15.76%10.56%21.26%n/a20.32%12/29/2008
MSCI World Index (Gross)1.40%1.40%19.72%10.86%18.94%n/an/a
MSCI World Index (Net)1.26%1.26%19.07%10.23%18.28%n/an/a

Returns for less than one year are not annualized.

Prior to Dec. 29, 2010, the Fund had not engaged in a broad distribution of its shares and had been subject to limited redemption requests. The returns reflect expense limitations that were in effect during certain periods and that may have been lower than the Fund's current expenses. The returns would have been lower without the expense limitations.

Expense ratio
Gross1.26%
Net1.26%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
2014-1.33%n/an/an/an/a
20135.41%-1.53%10.67%7.66%23.67%
201216.58%-6.36%5.38%2.49%17.90%
20114.13%3.49%-15.32%7.19%-2.20%
20104.40%-8.51%18.42%8.32%22.53%
2009-0.46%21.59%15.55%8.24%51.36%

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

Portfolio characteristics - as of 03/31/2014
Share assets$68.4 million
Number of holdings38
Market cap (median)$21.90 billion
Market cap (weighted average)$62.43 billion
Portfolio turnover (last fiscal year)36%
P/E ratio (weighted average trailing 12 months) (view definition)28.17x
Beta (relative to MSCI World Index (Gross)) (view definition)1.03
Annualized standard deviation, 3 years (view definition)15.14
Portfolio composition as of 03/31/2014Total may not equal 100% due to rounding.
Domestic equities53.0%
International equities & depository receipts44.4%
Cash and cash equivalents2.6%
Top 10 holdings as of 03/31/2014
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holding% of portfolio
priceline.com Inc.3.9%
QUALCOMM Inc.3.7%
MasterCard Inc.3.6%
Microsoft Corp.3.4%
Core Laboratories NV3.3%
Celgene Corp.3.2%
VeriFone Systems Inc.3.2%
eBay Inc.3.1%
EOG Resources Inc.3.1%
Google Inc.3.1%
Total % Portfolio in Top 10 holdings33.6%

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

Top 10 countries as of 03/31/2014List excludes cash and cash equivalents.
Country% of portfolio
United States53.0%
United Kingdom14.7%
Japan6.5%
Switzerland4.8%
Brazil4.1%
Denmark2.7%
France2.6%
Spain2.4%
India2.3%
Finland2.2%
Distribution history - annual distributions (Institutional Class)
Distributions ($ per share)
YearCapital gainsDividends
20140.0000.000
20130.3230.014
20120.0000.000
20110.1110.000
20100.4060.028
20091.1700.027
20080.0000.000
20070.0000.000
20060.0000.000
20050.0000.000
20040.0000.000

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

Greg Heywood

Gregory M. Heywood, CFA

Portfolio Manager, Equity Analyst

Start date on the Fund: December 2008

(View bio)


Patrick Fortier

Patrick G. Fortier, CFA

Portfolio Manager, Equity Analyst

Start date on the Fund: December 2008

(View bio)


Chris Bonavico

Christopher J. Bonavico, CFA

Senior Portfolio Manager, Equity Analyst

Start date on the Fund: December 2008

(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 fees0.85%
Distribution and service (12b-1) feesnone
Other expenses0.41%
Total annual fund operating expenses1.26%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements1.26%

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

1The Fund's investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, acquired fund fees and expenses, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent annual fund operating expenses from exceeding 1.30% of the Fund's average daily net assets from March 28, 2014 through March 30, 2015. This waiver and/or reimbursement may only be terminated by agreement of the Manager and the Fund.

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.

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

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.

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 04/17/2014)

Institutional ClassPriceNet changeYTD
NAV$19.110.03-2.15%
Max offer price$19.11n/an/a

Total net assets (as of 03/31/2014)

$123.2 million all share classes

Lipper ranking (as of 03/31/2014)

YTD ranking203 / 236
1 year177 / 226
3 years51 / 179
5 years22 / 124
10 yearsn/a
Lipper classificationGlobal Multi-Cap Growth

(View Lipper disclosure)

Literature

Prospectuses and reports

Benchmark, peer group

MSCI World Index (view)

Lipper Global Multi-Cap Growth Funds Average (view)

Additional information