Important notice and disclaimer
Past performance is not a guarantee of future results.
© 2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.
Macquarie Asset Management (MAM) is the asset management division of Macquarie Group. MAM is a full-service asset manager offering a diverse range of products across public and private markets including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewables, natural assets, real estate, and asset finance. MAM, through its entities, operates as a full-service asset manager offering a diverse range of products. Macquarie Asset Management Public Investments is the marketing name for certain companies comprising the asset management division of Macquarie Group. Investment products and advisory services are distributed and offered by and referred through affiliates which include Delaware Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) and Macquarie Investment Management Business Trust (MIMBT), a Securities and Exchange Commission (SEC)-registered investment advisor. Investment advisory services are provided by a series of MIMBT. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. Delaware Funds by Macquarie refers to certain investment solutions that MPI distributes, offers, refers, or advises. Separately managed account advisory services are provided by Delaware Capital Management (DCM), a series of MIMBT. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.
The Delaware Funds by Macquarie Premier Models are a fee-based investment advisory service provided by MPI. Premier accounts are charged an annual asset-based fee that is billed quarterly, in advance. For complete information, see your financial advisor and the relevant mutual fund prospectuses.
Each model in the Delaware Premier Program is comprised of allocations to mutual funds within Delaware Funds by Macquarie.
Diversification and asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. Investment returns and the principal value of an investment will fluctuate, so that when the investment is sold or redeemed, it may be worth more or less than the original cost. Expenses may fluctuate depending on fund allocations. There is no assurance the models will meet their objective.
© 2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.
The Morningstar Allocation — 15% to 30% Equity Category compares funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These funds are dominated by domestic holdings and have equity exposures between 15% and 30%.
The Morningstar Allocation — 30% to 50% Equity Category compares funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These funds are dominated by domestic holdings and have equity exposures between 30% and 50%.
The Morningstar Allocation — 50% to 70% Equity Category compares funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These funds are dominated by domestic holdings and have equity exposures between 50% and 70%.
The Morningstar Allocation — 70% to 85% Equity Category compares funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These funds are dominated by domestic holdings and have equity exposures between 70% and 85%.
The Morningstar Allocation — 85%+ Equity Category compares funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These funds are dominated by domestic holdings and have equity exposures of more than 85%. These funds typically allocate at least 10% to equities of foreign companies and do not exclusively allocate between cash and equities.
For financial professionals: Delaware Capital Management’s (DCM) role is limited to providing you or your firm (collectively, the “Advisor”) with non-discretionary investment advice in the form of model portfolios in connection with its management of its clients’ accounts. The implementation of, or reliance on, a Managed Portfolio Strategy is left to the discretion of the Advisor. DCM is not responsible for determining the securities to be purchased, held and sold for a client’s account(s), nor is DCM responsible for determining the suitability or appropriateness of a Managed Portfolio Strategy or any securities included therein for any of the Advisor’s clients. DCM does not place trade orders for any of the Advisor’s clients’ account(s). Information and other marketing materials provided to you by DCM concerning a Managed Portfolio Strategy - including holdings, performance and other characteristics - may not be indicative of a client’s actual experience from an account managed in accordance with the strategy.
For end users: DCM’s role is limited to providing your Advisor with non-discretionary investment advice in the form of model portfolios in connection with its management of its clients’ accounts. The implementation of, or reliance on, a Managed Portfolio Strategy is left to the discretion of your Advisor. DCM is not responsible for determining the securities to be purchased, held and sold for your account(s), nor is DCM responsible for determining the suitability or appropriateness of a Managed Portfolio Strategy or any securities included therein. DCM does not place trade orders for any Managed Portfolio Strategy account. Information and other marketing materials provided to you by DCM concerning a Managed Portfolio Strategy - including holdings, performance and other characteristics - may not be indicative of a client’s actual experience from an account managed in accordance with the strategy. This material has been created by DCM and the information included herein has not been verified by your Advisor and may materially differ from information provided by your Advisor.
Other than Macquarie Bank Limited (MBL), none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.