Fund Description

The fund was incepted in August 2003 and is managed by Delaware Management Company. The fund seeks a high level of income. The fund may also seek growth of capital. The fund invests under normal circumstances, at least 80% of its net assets in fixed income securities. The fund focuses on securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities, corporate debt securities, taxable and tax-exempt municipal securities and mortgage-backed and asset-backed securities. The fund invests primarily in investment grade fixed income securities (that is, those rated in the four highest rating categories by S&P or Moody?s or, if unrated, determined by the Manager or a sub-adviser to be of comparable quality). Dividends are distributed quarterly. Capital gains are distributed annually.