Delaware Macquarie Global Infrastructure Fund (Closed to new investors)*

Objective

Delaware Macquarie Global Infrastructure Fund seeks long-term capital appreciation and current income.

Strategy

The Fund invests globally in securities issued by companies that are principally engaged in the ownership and/or operation of infrastructure assets.

Fund information
Inception date12/31/2009
Dividends paid (if any)Annually
Capital gains paid (if any)December
Fund identifiers
NASDAQDMGIX
CUSIP245914536

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)10.92%17.66%10.90%n/an/a10.26%12/31/2009
S&P Global Infrastructure Index13.64%22.56%11.30%n/an/an/a
Average annual total return as of quarter-end (06/30/2014)
QTDYTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)7.35%12.59%23.41%10.36%n/an/a10.83%12/31/2009
S&P Global Infrastructure Index8.42%16.03%30.42%11.08%n/an/an/a

Returns for less than one year are not annualized.

Expense ratio
Gross1.55%
Net1.20%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from March 28, 2014 to March 30, 2015. Please see the fee table in the Fund’s prospectus for more information.

Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20144.88%7.35%n/an/an/a
20135.30%-1.15%6.50%2.92%14.09%
20127.81%-1.96%5.63%1.82%13.68%
20116.42%1.99%-14.14%7.23%-0.09%
2010-0.14%-11.67%17.37%5.11%8.82%

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

Portfolio characteristics - as of 07/31/2014
Share assets$3.7 million
Number of holdings50
Market cap (median)$13.30 billion
Market cap (weighted average)$23.09 billion
Portfolio turnover (last fiscal year)66%
Beta (relative to S&P Global Infrastructure Index) (view definition)0.92
Annualized standard deviation, 3 years (view definition)11.47
Portfolio composition as of 07/31/2014Total may not equal 100% due to rounding.
International equities & depository receipts61.2%
Domestic equities34.7%
Cash and cash equivalents4.1%
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.
Holding% of portfolio
Transurban Group5.8%
Enbridge Inc.5.0%
Sempra Energy4.7%
TransCanada Corp.4.0%
National Grid PLC3.8%
China Merchants Holdings International Co. Ltd.3.7%
GDF Suez3.6%
Groupe Eurotunnel S.A.3.4%
Williams Cos. Inc.3.1%
Crown Castle International Corp.2.8%
Total % Portfolio in Top 10 holdings39.9%

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

Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20140.0000.109
20131.8340.318
20120.2480.239
20110.1090.176
20100.0610.169
20090.0000.000
20080.0000.000
20070.0000.000
20060.0000.000
20050.0000.000
20040.0000.000

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. 

Investment manager

Delaware Management Company, a series of Delaware Management Business Trust

Sub-advisor

Macquarie Capital Investment Management LLC

Brad Frishberg

Brad Frishberg, CFA

Managing Director, Chief Investment Officer of Infrastructure Securities — Macquarie Capital Investment Management LLC

Start date on the Fund: April 2010

(View bio)


Jonathon Ong

Jonathon Ong, CFA

Managing Director, Portfolio Manager — Macquarie Capital Investment Management LLC

Start date on the Fund: November 2012

(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 fees0.90%
Distribution and service (12b-1) feesnone
Other expenses0.65%
Total annual fund operating expenses1.55%
Fee waivers and expense reimbursements(0.35%)
Total annual fund operating expenses after fee waivers and expense reimbursements1.20%

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 1.20% 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.

*On Aug. 20, 2014, the Board of Trustees responsible for Delaware Macquarie Global Infrastructure Fund voted and approved a proposal to liquidate and dissolve the Fund. The liquidation and dissolution is expected to take effect on or before Oct. 31, 2014. Effective Aug. 21, 2014, the Fund will be closed to new investors. The Fund will continue to accept purchases from existing shareholders (including reinvested dividends or capital gains) until five business day before the liquidation date. Please read the prospectus, summary prospectus, and related supplements dated Aug. 21, 2014 for more information concerning this event.

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.

Narrowly focused investments may exhibit higher volatility than investments in multiple industry sectors.

Investment strategies that hold securities issued by companies principally engaged in the infrastructure industry have greater exposure to the potential adverse economic, regulatory, political, and other changes affecting such entities.

“Nondiversified” funds may allocate more of their net assets to investments in single securities than “diversified” Funds. Resulting adverse effects may subject these Funds to greater risks and volatility.

REIT investments are subject to many of the risks associated with direct real estate ownership, including changes in economic conditions, credit risk, and interest rate fluctuations.

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 08/26/2014)

Institutional ClassPriceNet changeYTD
NAV$9.53-0.0113.30%
Max offer price$9.53n/an/a

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

$10.2 million all share classes

Lipper ranking (as of 07/31/2014)

YTD ranking51 / 104
1 year52 / 87
3 years42 / 74
5 yearsn/a
10 yearsn/a
Lipper classificationSpecialty & Misc Funds

(View Lipper disclosure)

Benchmark, peer group

The S&P Global Infrastructure Index (view)


Additional information