Delaware Investments® Dividend and Income Fund, Inc. Announces Change to Portfolio Management Team
October 31 2018 - 7:40AM
Business Wire
Today, Delaware Investments Dividend and Income Fund, Inc. (the
“Fund”), a New York Stock Exchange–listed closed-end fund trading
under the symbol “DDF,” announced that Ty Nutt, senior portfolio
manager and team leader for Delaware Management Company’s Large-Cap
Value team, will retire on July 15, 2019, after 14 years with the
firm. Mr. Nutt has been a member of the Fund’s portfolio management
team since 2005. Senior portfolio manager Nik Lalvani will succeed
Nutt as the Large-Cap Value team leader, effective immediately. Mr.
Lalvani has been a portfolio manager for the Fund since 2006. Nutt
will remain an active member of the Large-Cap Value team and the
Fund’s portfolio management team through his retirement date,
working closely with Lalvani to ensure a smooth transition. The
other members of the Fund’s portfolio management team are Roger
Early, Babak Zenouzi, Damon Andres, Wayne Anglace, Kristen
Bartholdson, Adam Brown, Paul Matlack, John McCarthy and Robert
Vogel.
The Fund is a diversified closed-end fund. The primary
investment objective is to seek high current income; capital
appreciation is a secondary objective. The Fund seeks to achieve
its objectives by investing, under normal circumstances, at least
65% of its total assets in income-generating equity securities,
including dividend-paying common stocks, convertible securities,
preferred stocks, and other equity-related securities, which may
include up to 25% in real estate investment trusts (REITs) and real
estate industry operating companies. Up to 35% of the Fund's total
assets may be invested in nonconvertible debt securities consisting
primarily of high-yield, high-risk corporate bonds. In addition,
the Fund utilizes leveraging techniques in an attempt to obtain a
higher return for the Fund. There is no assurance that the Fund
will achieve its investment objectives.
About Macquarie Investment Management
Macquarie Investment Management, a member of Macquarie Group,
includes the former Delaware Investments and is a global asset
manager with offices throughout the United States, Europe, Asia,
and Australia. As active managers, we prioritize autonomy and
accountability at the team level in pursuit of opportunities that
matter for clients. Macquarie Investment Management is supported by
the resources of Macquarie Group (ASX: MQG; ADR: MQBKY), a global
provider of asset management, investment, banking, financial and
advisory services.
Advisory services are provided by Macquarie Investment
Management Business Trust, a registered investment advisor.
Macquarie Group refers to Macquarie Group Limited and its
subsidiaries and affiliates worldwide. For more information about
Delaware Funds® by Macquarie, visit delawarefunds.com or call 800
523-1918.
Other than Macquarie Bank Limited (MBL), none of the entities
referred to in this document 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, a subsidiary of Macquarie
Group Limited and an affiliate of Macquarie Investment Management.
MBL does not guarantee or otherwise provide assurance in respect of
the obligations of these entities, unless noted otherwise.
© 2018 Macquarie Management Holdings, Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181031005446/en/
InvestorsComputershare866
437-0252delawarefunds.com/closed-endorMedia
contactsMacquarie Investment ManagementDaniela Palmieri, 215
255-8878orJessica Fitzgerald, 215 255-1336
Delaware Investments Div... (NYSE:DDF)
Historical Stock Chart
From Sep 2024 to Oct 2024
Delaware Investments Div... (NYSE:DDF)
Historical Stock Chart
From Oct 2023 to Oct 2024