IMPORTANT INFORMATION
Investing involves risk, including the possible loss of principal.
Diversification may not protect against market risk.
Carefully consider the Fund’s investment objectives, risk factors, and charges
and
expenses before investing. This and other information can be found in the Fund’s prospectus or the
summary prospectus, which may be obtained by visiting macquarie.com/mam/literature
for mutual funds or
calling 877 693-3546 Read the prospectus carefully before investing.
Fixed income securities can lose value, including the possible loss of principal.
The prices of bonds and other fixed income securities will increase as interest rates fall and
decrease as interest rates rise. Fixed income securities with longer maturities or duration generally
are more sensitive to interest rate changes. Loans can be difficult to value and less liquid than
other types of debt instruments; they are also subject to non-payment, collateral, bankruptcy,
default, extension, prepayment, and insolvency risks.
The Bloomberg Municipal Index measures the total return
performance of the long-term, investment grade tax-exempt bond market.
The Bloomberg US Treasury Index measures the performance of US
Treasury bonds and notes that have at least one year to maturity.
The Bloomberg US Mortgage-Backed Securities (MBS) Index measures
the performance of agency
mortgage-backed pass-through securities (both fixed-rate and hybrid adjustable-rate mortgage) issued
by
the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Association
(Freddie
Mac), and Government National Mortgage Association (Ginnie Mae).
The Bloomberg US Corporate Bond Index is composed of US
dollar-denominated, investment grade corporate
bonds that are US Securities and Exchange Commission (SEC)-registered or 144A with registration
rights,
and issued by industrial, utility, and financial companies. All bonds in the index have at least one
year
to maturity.
The Bloomberg US Corporate High-Yield Index is composed of US
dollar-denominated, non-investment-grade
corporate bonds for which the middle rating among Moody’s Investors Service, Inc., Fitch, Inc., and
Standard & Poor’s is Ba1/BB+/BB+ or below.
The Bloomberg Emerging Markets USD Aggregate Bond Index is a
flagship hard-currency emerging markets debt
benchmark that includes fixed- and floating-rate US dollar-denominated debt issued from sovereign,
quasi-sovereign, and corporate emerging markets issuers.
Past performance does not guarantee future results.
All third-party marks cited are the property of their respective owners.
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