Delaware Select Growth Fund*

Objective

Delaware Select Growth Fund seeks long-term capital appreciation.

Strategy

The Fund invests in companies of any size or market capitalization that are believed to have long-term capital appreciation potential and are expected to grow faster than the U.S. economy.

Fund information
Inception date08/28/1997
Dividends paid*Annually
Capital gains paid*December

*If any.

Fund identifiers
NASDAQVAGGX
CUSIP928931757

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)-1.16%20.41%13.89%26.31%9.46%11.05%08/28/1997
Russell 3000 Growth Index1.07%23.53%14.53%21.94%7.95%n/a
Average annual total return as of quarter-end (03/31/2014)
QTDYTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-1.16%-1.16%20.41%13.89%26.31%9.46%11.05%08/28/1997
Russell 3000 Growth Index1.07%1.07%23.53%14.53%21.94%7.95%n/a

Returns for less than one year are not annualized.

Expense ratio
Gross1.00%
Net1.00%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
2014-1.16%n/an/an/an/a
20138.22%1.04%10.66%8.96%31.84%
201217.73%-5.09%4.47%-0.97%15.60%
20119.84%2.27%-11.17%7.93%7.70%
20106.29%-6.16%15.14%10.23%26.58%
20090.53%23.34%15.57%9.80%57.35%
2008-9.16%-3.86%-14.85%-24.91%-44.16%
20070.62%3.83%7.45%-2.11%9.89%
20063.84%-7.57%-1.46%7.38%1.55%
2005-6.29%4.77%13.48%5.49%17.53%
20043.76%-2.71%-5.53%13.49%8.22%

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

Portfolio characteristics - as of 03/31/2014
Share assets$468.7 million
Number of holdings70
Market cap (median)$9.02 billion
Market cap (weighted average)$55.79 billion
Portfolio turnover (last fiscal year)20%
P/E ratio (weighted average FY1) (view definition)19.80x
Beta (relative to Russell 3000 Growth Index) (view definition)1.02
Annualized standard deviation, 3 years (view definition)14.02
Portfolio composition as of 03/31/2014Total may not equal 100% due to rounding.
Domestic equities89.0%
International equities & depository receipts9.9%
Cash and cash equivalents1.1%
Top 10 holdings as of 03/31/2014
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holding% of portfolio
CommonWealth REIT5.3%
Microsoft Corp.5.3%
DineEquity Inc.3.8%
EOG Resources Inc.3.7%
VeriFone Systems Inc.3.7%
QUALCOMM Inc.3.6%
K12 Inc.3.2%
Adobe Systems Inc.3.1%
Celgene Corp.3.0%
Crown Castle International Corp.2.8%
Total % Portfolio in Top 10 holdings37.5%
Top sectors as of 03/31/2014
List excludes cash and cash equivalents.
Sector% of portfolio
Technology30.4%
Consumer Discretionary28.4%
Financial Services19.1%
Health Care9.0%
Energy6.0%
Producer Durables3.3%
Consumer Staples1.3%
Utilities1.2%
Materials & Processing0.2%
Distribution history - annual distributions (Institutional Class)
Distributions ($ per share)
YearCapital gainsDividends
20140.0000.000
20131.7770.000
20120.0000.000
20110.0000.000
20100.0000.000
20090.0000.000
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. 

Jeff VanHarte

Jeffrey S. Van Harte, CFA

Chief Investment Officer — Focus Growth Equity

Start date on the Fund: May 2005

(View bio)


Chris Bonavico

Christopher J. Bonavico, CFA

Senior Portfolio Manager, Equity Analyst

Start date on the Fund: May 2005

(View bio)


Ken Broad

Kenneth F. Broad, CFA

Senior Portfolio Manager, Equity Analyst

Start date on the Fund: May 2005

(View bio)


Patrick Fortier

Patrick G. Fortier, CFA

Portfolio Manager, Equity Analyst

Start date on the Fund: May 2005

(View bio)


Greg Heywood

Gregory M. Heywood, CFA

Portfolio Manager, Equity Analyst

Start date on the Fund: August 2006

(View bio)


Daniel J. Prislin, CFA

Senior Portfolio Manager, Equity Analyst

Start date on the Fund: May 2005

(View bio)


Chris Ericksen

Christopher M. Ericksen, CFA

Portfolio Manager, Equity Analyst

Start date on the Fund: July 2007

(View bio)


Ian Ferry

Ian D. Ferry 

Portfolio Manager, Equity Analyst

Start date on the Fund: January 2013

(View bio)


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

The following table 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 fees0.72%
Distribution and service (12b-1) feesnone
Other expenses0.28%
Total annual fund operating expenses1.00%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements1.00%

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

*Effective after the close of business on June 8, 2012, Delaware Select Growth Fund was closed to new investors. Existing shareholders of the Fund; certain retirement plans and IRA transfers and rollovers from these plans; and certain advisory or fee-based programs sponsored by and/or controlled by financial intermediaries where the financial intermediary has entered into an arrangement with the Fund’s Distributor or transfer agent (mutual fund wrap accounts) may continue to purchase shares. Please read the prospectus and the summary prospectus for more information concerning this event.

*Effective after the close of business on June 8, 2012, Delaware Select Growth Fund was closed to new investors. Existing shareholders of the Fund; certain retirement plans and IRA transfers and rollovers from these plans; and certain advisory or fee-based programs sponsored by and/or controlled by financial intermediaries where the financial intermediary has entered into an arrangement with the Fund’s Distributor or transfer agent (mutual fund wrap accounts) may continue to purchase shares. Please read the latest prospectus and the summary prospectus 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.

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$51.390.04-3.67%
Max offer price$51.39n/an/a

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

$1.1 billion all share classes

Lipper ranking (as of 03/31/2014)

YTD ranking510 / 576
1 year448 / 547
3 years155 / 471
5 years15 / 416
10 years50 / 273
Lipper classificationMulti-Cap Growth Funds

(View Lipper disclosure)

Literature

Prospectuses and reports

Benchmark, peer group

Russell 3000® Growth Index (view)

Lipper Multi-Cap Growth Funds Average (view)

Additional information