Delaware Foundation® Conservative Allocation Fund

Objective

Delaware Foundation Conservative Allocation Fund seeks a combination of current income and preservation of capital with capital appreciation.

Strategy

The Fund invests in a combination of underlying securities, using an active allocation approach and representing a variety of asset classes and investment styles that are managed by the advisor.

Fund information
Inception date12/31/1997
Dividends paid (if any)Quarterly
Capital gains paid (if any)November or December
Fund identifiers
NASDAQDFIIX
CUSIP245918404

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 (01/31/2017)

as of quarter-end (12/31/2016)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)0.85%8.57%3.78%5.12%5.21%4.97%12/31/1997
Bloomberg Barclays U.S. Aggregate Index0.20%1.45%2.59%2.09%4.37%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)0.21%5.89%3.10%5.51%5.21%4.95%12/31/1997
Bloomberg Barclays U.S. Aggregate Index-2.98%2.65%3.03%2.23%4.34%n/a

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Expense ratio
Gross1.11%
Net0.90%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from July 29, 2016 to July 29, 2017. Please see the fee table in the Fund’s prospectus for more information.

Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20160.95%2.13%2.50%0.21%5.89%
20152.24%-0.79%-3.79%1.25%-1.20%
20141.64%3.59%-1.24%0.73%4.75%
20133.41%-2.11%3.83%3.46%8.73%
20125.04%-0.67%3.82%1.28%9.71%
20112.95%1.63%-6.60%5.01%2.60%
20103.12%-3.74%7.57%2.99%9.96%
2009-3.48%11.87%11.92%3.99%25.67%
2008-3.22%-2.11%-5.55%-4.07%-14.16%
20071.28%2.32%1.14%-0.34%4.46%

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

Portfolio characteristics - as of 01/31/2017Idx Blend Foundation Conserv.
Number of holdings1,250n/a
Portfolio turnover (last fiscal year)168%%
SEC 30-day yield with waiver (view definition)2.62%
SEC 30-day yield without waiver (view definition)2.40%
Annualized standard deviation, 3 years (view definition)4.75n/a
Asset allocations* (as of 01/31/2017)
Range Strategic policy weight Actual**
Equity asset class (total) 20-50% 40% 38.2%
U.S. equity asset class5-30%20%19.7%
U.S. large-cap core4.6%
U.S. large-cap growth3.9%
U.S. large-cap value6.4%
U.S. small-cap core4.9%
U.S. small-cap growth0.0%
U.S. small-cap value0.0%
International equity asset class5-30%15%11.5%
International growth4.8%
International small-cap growth0.0%
International value6.6%
Global real estate equity asset class0-15%0%2.4%
Global ex-U.S. real estate0.0%
U.S. real estate2.4%
Emerging markets asset class0-10%5%4.6%
Emerging markets4.6%
Emerging markets opportunities0.0%
Emerging markets small-cap0.0%
Fixed income asset class (total) 50-80% 60% 61.8%
Diversified fixed income asset class50-80%60%61.8%
Diversified fixed income30-70%57%61.7%
Money market / cash equivalents0-20%2%0.1%

*The percentages listed in this chart for "Range," "Strategic policy weight," and "Actual" represent the proportion of the Fund's assets allocated to the portfolio manager responsible for investing in a particular asset class or investment style. Each individual manager is responsible for determining how his or her assets are invested, subject to the constraints outlined in the Fund's prospectus. The "Range" and "Strategic policy weight" are as of the prospectus date.

**Total may not equal 100% due to rounding.

Top 10 equity holdings as of 01/31/2017
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holding% of portfolio
AT&T Inc.0.3%
Chevron Corp.0.3%
Microsoft Corp.0.3%
Novartis AG0.3%
Merck & Co. Inc.0.3%
Mitsubishi UFJ Financial Group Inc.0.3%
Intel Corp.0.3%
Facebook Inc.0.3%
Pfizer Inc.0.3%
Samsung Electronics Co. Ltd.0.3%
Total % Portfolio in Top 10 holdings3.0%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20170.0000.000
20160.1300.199
20150.4940.215
20140.8920.285
20130.2180.203
20120.0700.223
20110.2620.241
20100.2960.272
20090.0000.283
20080.0000.227
20070.0990.348

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 (if any) 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. 

Jackson Square Partners, LLC (JSP), a U.S. registered investment advisor, is the sub-advisor to the Fund's U.S. large-cap growth sleeve. As sub-advisor, JSP is responsible for day-to-day management of its portion of the Fund’s assets. Although JSP serves as sub-advisor, the investment manager, Delaware Management Company (DMC), a series of Delaware Management Business Trust, has ultimate responsibility for all investment advisory services.

Paul Grillo

Paul Grillo,  CFA

Senior Vice President, Co-Chief Investment Officer — Total Return Fixed Income Strategy

Start date on the Fund: September 2008

Years of industry experience: 35

(View bio)


Sharon Hill

Sharon Hill, Ph.D.

Senior Vice President, Head of Equity Quantitative Research and Analytics

Start date on the Fund: September 2008

Years of industry experience: 18

(View bio)


Francis X. Morris

Francis X. Morris 

Senior Vice President, Chief Investment Officer — Core Equity

Start date on the Fund: May 2004

Years of industry experience: 33

(View bio)


Bob Zenouzi

Bob Zenouzi 

Senior Vice President, Chief Investment Officer — Real Estate Securities and Income Solutions (RESIS)

Start date on the Fund: September 2008

Years of industry experience: 30

(View bio)


Investment manager

Delaware Management Company, a series of Delaware Management Business Trust

Sub-advisor

Jackson Square Partners, LLC (Large-cap growth investment sleeve)


Jeff VanHarte

Jeffrey S. Van Harte, CFA

Chairman, Chief Investment Officer — Jackson Square Partners, LLC

Start date on the Fund: May 2014

Years of industry experience: 36

(View bio)


Chris Bonavico

Christopher J. Bonavico, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: May 2014

Years of industry experience: 29

(View bio)


Chris Ericksen

Christopher M. Ericksen, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: May 2014

Years of industry experience: 22

(View bio)


Daniel J. Prislin, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: May 2014

Years of industry experience: 22

(View bio)


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

Jackson Square Partners, LLC (JSP), a U.S. registered investment advisor, is the sub-advisor to the Fund's U.S. large-cap growth sleeve. As sub-advisor, JSP is responsible for day-to-day management of its portion of the Fund’s assets. Although JSP serves as sub-advisor, the investment manager, Delaware Management Company (DMC), a series of Delaware Management Business Trust, has ultimate responsibility for all investment advisory services.

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 fees0.65%
Distribution and service (12b-1) feesnone
Other expenses0.46%
Total annual fund operating expenses1.11%
Fee waivers and expense reimbursements(0.21%)
Total annual fund operating expenses after fee waivers and expense reimbursements0.90%

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

1 “Other expenses” have been restated to reflect future lower operating expenses.

2 The 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, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.90% of the Fund's average daily net assets from July 29, 2016 through July 29, 2017. These waivers and reimbursements 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.

This Fund is subject to the same risks as the underlying styles in which it invests.

Fixed income securities and bond funds can lose value, and investors can lose principal, as interest rates rise. They also may be affected by economic conditions that hinder an issuer’s ability to make interest and principal payments on its debt.

The Fund may also be subject to prepayment risk, the risk that the principal of a fixed income security that is held by the Fund may be prepaid prior to maturity, potentially forcing the Fund to reinvest that money at a lower interest rate.

High yielding, non-investment-grade bonds (junk bonds) involve higher risk than investment grade bonds.

If and when the Fund invests in forward foreign currency contracts or uses other investments to hedge against currency risks, the Fund will be subject to special risks, including counterparty risk.

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.

Risk controls and asset allocation models do not promise any level of performance or guarantee against loss of principal.

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

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 Fund may experience portfolio turnover in excess of 100%, which could result in higher transaction costs and tax liability.

All third-party marks cited are the property of their respective owners.

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 02/17/2017)

Institutional ClassPriceNet change
NAV$9.60no chg
Max offer price$9.60n/a

Total net assets (as of 01/31/2017)

$83.3 million all share classes

Overall Morningstar RatingTM

 
Institutional Class shares (as of 01/31/2017)
RatingNo. of funds
Overall4417
3 Yrs3417
5 Yrs3361
10 Yrs4241
Morningstar categoryAllocation--30% to 50% Equity

(View Morningstar disclosure)

Morningstar ranking (as of 01/31/2017)

YTD ranking444 / 544
1 year347 / 517
3 years184 / 417
5 years199 / 361
10 years28 / 241
Morningstar categoryAllocation--30% to 50% Equity

(View Morningstar disclosure)

Lipper ranking (as of 01/31/2017)

YTD ranking244 / 373
1 year151 / 360
3 years100 / 321
5 years100 / 288
10 years19 / 216
Lipper classificationMixed-Asset Target Allocation Conserv

(View Lipper disclosure)

Benchmark, peer group

Bloomberg Barclays U.S. Aggregate Index (view definition)

Morningstar Allocation — 30% to 50% Equity Category (view definition)

Lipper Mixed-Asset Target Allocation Conservative Funds Average (view definition)

Additional information