Key features
Total net assets
as of
12/31/2024
All share classes
$4.4 billion
Overview
Benchmark and peer group
Portfolio
International equities & depositary receipts
5.2%
Cash, cash equivalents and other assets
2.0%
Top 10 holdings
as of 01/31/2025
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents. Please see the Fund's complete list of holdings for more information.
Holdings based by issuer.
WEBSTER FINANCIAL CORPORATION
1.96
HANCOCK WHITNEY CORP
1.95
AXIS CAPITAL HOLDINGS LTD
1.83
SYNOVUS FINANCIAL CORP
1.79
STIFEL FINANCIAL CORP
1.66
EAST WEST BANCORP INC.
1.66
COLUMBIA BANKING SYSTEM INC.
1.66
Total % Portfolio in Top 10 holdings - 17.63%
Sector allocation
as of 01/31/2025
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Consumer discretionary
9.8%
Distribution history - annual distributions (Class )1,2
Distributions ($ per share)
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.
Management
Kelley Carabasi, CFA
-
Co-Head of US Small-Mid Cap Value Equity
-
Start date on the Fund:
July 2012
-
Years of industry experience:
22
-
Read bio
Kelley Carabasi
Co-Head of US Small-Mid Cap Value Equity
- Joined Delaware Investments in 2005, acquired by Macquarie in 2010
- Based in Philadelphia
Kelley is Co-Head of US Small-Mid Cap Value Equity, a role she assumed in January 2022. Kelley assumed portfolio management responsibilities in July 2012. She joined Delaware Investments in July 2005 as an Equity Analyst.
Prior to joining Delaware Investments, Kelley participated in Lincoln Financial Group’s rotational Professional Development Program, where she began her investment career in 2002.
Kelley earned a Bachelor of Science in finance from Georgetown University and a Master of Business Administration from The Wharton School of the University of Pennsylvania. Kelley holds the Chartered Financial Analyst® designation, and she is a member of the CFA Institute and the CFA Society of Philadelphia.
Kent Madden, CFA
-
Co-Head of US Small-Mid Cap Value Equity
-
Start date on the Fund:
July 2012
-
Years of industry experience:
28
-
Read bio
Kent Madden
Co-Head of US Small-Mid Cap Value Equity
- Joined Delaware Investments in 2004, acquired by Macquarie in 2010
- Based in Philadelphia
Kent is Co-Head of US Small-Mid Cap Value Equity, a role he assumed in January 2022. He assumed portfolio management responsibilities in July 2012. He joined Delaware Investments in December 2004 as an Equity Analyst and was promoted to Senior Equity Analyst in October 2010.
Prior to joining Delaware Investments, he was an Equity Analyst at Gartmore Global Investments, where he covered technology stocks. Kent worked at Federated Investors as an Equity Analyst, where he gained experience covering small-capitalization stocks, and he was a Corporate Finance Analyst at Lehman Brothers.
Kent earned a Bachelor of Arts in economics from DePauw University and a Master of Business Administration from the University of Chicago. He holds the Chartered Financial Analyst® designation, and he is a member of the CFA Institute and the CFA Society of Philadelphia.
Michael Foley, CFA
-
Senior Portfolio Manager – US Small-Mid Cap Value Equity
-
Start date on the Fund:
July 2019
-
Years of industry experience:
15
-
Read bio
Michael Foley
Senior Portfolio Manager – US Small-Mid Cap Value Equity
- Joined Macquarie in 2015
- Based in Philadelphia
Mike is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) US Small-Mid Cap Value Equity Team. He assumed portfolio management responsibilities in July 2019. He joined the investment team in February 2015 as a Senior Equity Analyst.
Prior to joining the firm, Mike was an Associate at Patriot Financial Partners, a private equity firm, where he focused on the analysis of companies in the financial services sector. He started his career with Janney Montgomery Scott as an Investment Banking Analyst within the financial institutions group in 2009.
Mike is on the board of directors of the McNamee Scholars Program.
Mike earned a Bachelor of Science in finance and accounting from The Wharton School of the University of Pennsylvania, he holds the Chartered Financial Analyst® designation, and he is a member of the CFA Institute and the CFA Society of Philadelphia.
Fees
The table below describes the fees and expenses that you may pay if you buy, hold, and sell
shares of the Fund.
You may pay other fees, such as brokerage commissions and other fees
to financial intermediaries, which are not reflected in the table below. You may
qualify for sales-charge discounts if you and your family invest, or agree to invest in the
future, at least $50,000 in Macquarie Funds. More information about these and other
discounts is available from your financial intermediary, in the Fund’s Prospectus under the
section entitled “About your account,” and in the Fund’s statement of additional information
(SAI) under the section entitled “Purchasing Shares.”
| Shareholder fees |
| Maximum sales charge (load) imposed on purchases as a percentage of offering price |
5.75% |
| Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower |
none |
| Annual fund operating expenses |
| Management fees |
0.64% |
| Distribution and service (12b-1) fees |
0.25% |
| Other expenses |
0.22% |
| Total annual fund operating expenses |
1.11% |
Please see the prospectus and SAI for additional information.
Resources
Fact sheet and commentaries
Shareholder report – Annual
Shareholder report – Semi-annual
You are now leaving the Delaware Funds by Macquarie website
The link you have selected will take you to a website not controlled by Delaware Funds by Macquarie. Your web browser will automatically redirect you to the site in a few moments. Delaware Funds by Macquarie is not responsible for the content of the website you are about to visit.
Thank you for visiting the Delaware Funds by Macquarie website.
Other than Macquarie Bank Limited (MBL), none of the entities noted are authorised 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.
The Funds are distributed by Delaware Distributors, L.P., an affiliate of Macquarie Investment Management Business Trust (MIMBT), Macquarie Management Holdings, Inc., and Macquarie Group Limited. Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group Limited and its subsidiaries and affiliates worldwide.
Separately managed account advisory services are provided by Delaware Capital Management (DCM), a series of MIMBT. Separately managed account advisory services are referred through Delaware Capital Management Advisers, Inc., an SEC-registered investment advisor.