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 its portfolio managers believe 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 (if any)Annually
Capital gains paid (if any)November or December
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 (01/31/2017)

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

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)3.31%10.58%4.46%9.10%7.86%7.67%08/28/1997
Russell 3000 Growth Index3.23%17.91%10.45%13.81%8.36%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-3.41%-1.64%1.67%9.88%7.74%7.52%08/28/1997
Russell 3000 Growth Index1.20%7.39%8.27%14.43%8.28%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
Gross0.98%
Net0.98%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
2016-6.03%-1.44%9.95%-3.41%-1.64%
20153.55%0.81%-10.47%6.78%-0.21%
2014-1.16%3.51%-3.10%7.98%7.05%
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%

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

Portfolio characteristics - as of 01/31/2017Russell 3000 Growth Index
Number of holdings751,768
Market cap (median)$14.62 billion$1.50 billion
Market cap (weighted average)$98.48 billion$147.64 billion
Portfolio turnover (last fiscal year)33%n/a
Beta (relative to Russell 3000 Growth Index) (view definition)1.01n/a
Annualized standard deviation, 3 years (view definition)12.87n/a
Portfolio composition as of 01/31/2017Total may not equal 100% due to rounding.
Domestic equities94.8%
International equities & depositary receipts5.6%
Cash and cash equivalents-0.3%
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
Microsoft Corp.6.2%
Celgene Corp.4.9%
PayPal Holdings Inc.4.5%
Biogen Inc.3.9%
Allergan plc3.5%
Symantec Corp.3.4%
eBay Inc.2.8%
Alphabet Inc.2.7%
Liberty TripAdvisor Holdings Inc.2.6%
Pandora Media Inc.2.6%
Total % Portfolio in Top 10 holdings37.1%

Equity sectors as of 01/31/2017

List excludes cash and cash equivalents.

SectorFundBenchmark
Information technology47.1%0.0%
Healthcare18.7%0.0%
Consumer discretionary17.1%0.0%
Financials6.8%0.0%
Real Estate5.7%0.0%
Industrials2.8%0.0%
Energy1.6%0.0%
Consumer staples0.5%0.0%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20170.0000.000
20165.2120.000
20159.7200.000
20145.7790.216
20131.7770.000
20120.0000.000
20110.0000.000
20100.0000.000
20090.0000.000
20080.0000.000
20070.0000.000

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 (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. 

Investment manager

Delaware Management Company, a series of Delaware Management Business Trust (a Delaware statutory trust)

Sub-advisor

Jackson Square Partners, LLC


Jeff VanHarte

Jeffrey S. Van Harte, CFA

Chairman, Chief Investment Officer — Jackson Square Partners, LLC

Start date on the Fund: May 2005

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 2005

Years of industry experience: 29

(View bio)


Ken Broad

Kenneth F. Broad, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: May 2005

Years of industry experience: 28

(View bio)


Chris Ericksen

Christopher M. Ericksen, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: July 2007

Years of industry experience: 22

(View bio)


Ian Ferry

Ian D. Ferry 

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: January 2013

Years of industry experience: 12

(View bio)


Patrick Fortier

Patrick G. Fortier, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: May 2005

Years of industry experience: 21

(View bio)


Greg Heywood

Gregory M. Heywood, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: August 2006

Years of industry experience: 23

(View bio)


Daniel J. Prislin, CFA

Portfolio Manager, Equity Analyst — Jackson Square Partners, LLC

Start date on the Fund: May 2005

Years of industry experience: 22

(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 fees0.72%
Distribution and service (12b-1) feesnone
Other expenses0.26%
Total annual fund operating expenses0.98%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements0.98%

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, acquired fund fees and expenses, 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 1.00% of the Fund's average daily net assets from Feb. 26, 2016 through Feb. 28, 2017. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

*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.

Jackson Square Partners, LLC (JSP), a U.S. registered investment advisor, is the sub-advisor to the Fund. As sub-advisor, JSP is responsible for day-to-day management 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.

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

Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

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 02/17/2017)

Institutional ClassPriceNet change
NAV$37.490.12
Max offer price$37.49n/a

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

$444.7 million all share classes

Morningstar ranking (as of 01/31/2017)

YTD ranking948 / 1517
1 year1326 / 1462
3 years1237 / 1313
5 years1122 / 1162
10 years247 / 806
Morningstar categoryLarge Growth

(View Morningstar disclosure)

Lipper ranking (as of 01/31/2017)

YTD ranking411 / 612
1 year534 / 591
3 years432 / 513
5 years406 / 453
10 years88 / 306
Lipper classificationMulti-Cap Growth Funds

(View Lipper disclosure)

Benchmark, peer group

Russell 3000® Growth Index (view definition)

Morningstar Large Growth Category (view definition)

Lipper Multi-Cap Growth Funds Average (view definition)

Additional information