Macquarie Investment Management today announced that Christopher
S. Beck, senior vice president and chief investment officer of the
firm’s Small-Cap Value / Mid-Cap Value Equity team, celebrated his
20th anniversary as portfolio manager of Delaware Small Cap Value
Fund.
Beck and his team of four manage both small- and mid-cap value
equity styles including the $3.8 billion Delaware Small Cap Value
Fund (DEVIX). The team manages more than $6 billion in assets on
behalf of clients as of April 30, 2017.
Delaware Small Cap Value Fund (Institutional Class shares) holds
a 4-star Overall Morningstar RatingTM against 347 funds in the
Small Value category as of April 30, 2017. The Fund has generated
consistently strong returns over Beck’s tenure. Morningstar ranks
the Fund’s Institutional Class shares* in the 6th
percentile among its Small Value Category peers over one
year, 13th percentile over three years, 37th
percentile over five years, and 14th percentile over 10
years, as of April 30, 2017. For more information on Delaware Small
Cap Value Fund click here.
“In the 20 years since I joined the firm, the number of
small-cap value funds has jumped from more than 100 to more than
400,” Beck said. “During that time, our focus has not changed. We
have always believed that companies that consistently return
capital to shareholders in some form, whether it be dividends,
share buybacks, or debt paydowns, should outperform over time. We
also believe that cash flow is the most honest way to measure the
value of a company. In our view, this bottom-up, fundamental
research has served our shareholders well over the long run.”
Beck joined Macquarie Investment Management, which acquired
Delaware Investments in 2010, in 1997 as a vice president and
senior portfolio manager. He is a member of the CFA Society of
Philadelphia and past president of the Wilmington Society of
Securities Analysts.
About Macquarie Investment Management
Macquarie Investment Management is a global asset manager with
offices throughout the US, Europe, Asia, and Australia. As active
managers, we prioritize autonomy and accountability at the team
level in pursuit of opportunities that matter for clients. Our
conviction-based, long-term approach has led institutional and
individual clients to entrust us to manage US$236.6 billion in
assets as of March 31, 2017. Macquarie Investment Management is a
division of Macquarie Asset Management, a global asset manager
with US$367.2 billion in assets under management as of March 31,
2017.
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. Performance
data current to the most recent month end may be obtained by
calling 800 523-1918 or visiting
delawarefunds.com/performance.
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 summary
prospectus, which may be obtained by visiting
delawarefunds.com/literature or calling 800 523-1918. For Defined
Contribution Investment-Only, call 800 266-3816. Investors should
read the prospectus and summary prospectus carefully before
investing.
Investing involves risk, including the possible loss of
principal.
The Funds are distributed by Delaware Distributors, L.P.
(DDLP), an affiliate of Macquarie Investment Management
Business Trust 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.
Investments in small and/or medium-sized companies typically
exhibit greater risk and higher volatility than larger, more
established companies. • 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. •
International investments entail risks not ordinarily associated
with US 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.
Morningstar Rank is the total return percentile rank within each
Morningstar Category. The highest (or most favorable) percentile
rank is zero and the lowest (or least favorable) percentile rank is
100. Historical percentile ranks are based on a snapshot of a fund
at the time of calculation. Percentile Rank is a standardized way
of ranking items within a peer group, in this case, funds within
the same Morningstar Category. The observation with the largest
numerical value is ranked zero the observation with the smallest
numerical value is ranked 100. The remaining observations are
placed equal distance from one another on the rating scale. Note
that lower percentile ranks are generally more favorable for
returns (high returns), while higher percentile ranks are generally
more favorable for risk measures (low risk).
© 2017 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.
Delaware Small Cap Value Fund (Institutional Class shares)
rated 4, 3, and 4 stars for the 3-, 5-, and 10-year periods ended
April 30, 2017 among 347, 306, and 198 Small Value funds,
respectively. There are 347 funds in the overall rating.
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 Class share class only;
other classes may have different performance characteristics.
*Delaware Small Cap Value Fund (Institutional Class shares)
ranked 24/407 (6th), 45/347 (13th), 113/306 (37th), and 28/198
(14th) in the Morningstar Small Value category for the 1-, 3-, 5-,
and 10-year periods ended April 30, 2017.
Institutional Class shares do not reflect a sales charge and are
available only to certain investors. See the current prospectus for
more information.
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version on businesswire.com: http://www.businesswire.com/news/home/20170606006619/en/
Macquarie Investment ManagementDaniela Palmieri,
215-255-8878daniela.palmieri@macquarie.comorJessica
Fitzgerald, 215-255-1336jessica.fitzgerald@macquarie.com
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