Delaware VIP® Government Cash Management Series**
(formerly, First Investors Life Series Government Cash Management Fund)
Delaware VIP Value Series seeks long-term capital appreciation.
The Series invests in securities of large-capitalization companies, seeking consistent long-term performance. The Series follows a traditional value-oriented investment philosophy using a research-based approach.
|Dividends paid (if any)||Monthly|
|Capital gains paid (if any)||Annually|
Please click below to view Series performance:
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.
Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.
Average annual total return
as of month-end (10/31/2019)
as of quarter-end (09/23/2019)
|YTD||1 year||3 year||5 year||10 year||Lifetime||Inception date|
|NAV (view definition)||1.21%||1.49%||0.90%||0.54%||0.27%||n/a||11/09/1987|
|1 year||3 year||5 year||10 year||Lifetime||Inception date|
|NAV (view definition)||0.27%||n/a||n/a||n/a||n/a||n/a||11/09/1987|
Returns for less than one year are not annualized.
Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.
The performance and expense ratio information shown represent the performance and fees as they relate to actual shares of the Series. These examples do not include any fees or sales charges imposed by the variable insurance contract for which the Series is an investment option. If they were included, your costs would be higher and performance would be lower. Investors should consult the contract prospectus or disclosure documents for more information.
|Quarterly total returns @ NAV|
|Year||1st quarter||2nd quarter||3rd quarter||4th quarter||Annual return|
Please click here to view monthly holdings.
|Portfolio characteristics - as of 10/31/2019|
|Number of holdings||17|
|Market cap (median) Source: FactSet||n/a billion|
|Market cap (weighted average) Source: FactSet||n/a billion|
|Portfolio turnover (last fiscal year)||%|
|Beta, 3 years (relative to ) (view definition)||377393232446663.00|
|Annualized standard deviation, 3 years (view definition)||0.15|
|Top 10 holdings as of 10/31/2019|
Holdings are as of the date indicated and subject to change.
List may exclude cash, cash equivalents, and exchanged-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Holdings based by issuer.
|Holding||% of portfolio|
|Federal Home Loan Banks||65.11%|
|UNITED STATES TREASURY||18.91%|
|Federal Farm Credit Banks Funding Corp.||14.07%|
|Total % Portfolio in Top 10 holdings||98.09%|
Managing Director, Senior Portfolio Manager
Start date on the Fund: October 2019
Years of industry experience: 28
Start date on the Fund: October 2019
Years of industry experience: 32
The table below describes the fees and expenses that you may pay if you buy and hold shares of the Series. The fee table and example do not reflect any fees or
sales charges imposed by variable insurance contracts. If they did, the expenses would be higher.
|Annual series operating expenses|
|Distribution and service (12b-1) fees||none|
|Total annual series operating expenses||1.01%|
|Total annual series operating expenses after fee waivers||0.83%|
*Effective Oct. 4, 2019, the Series added the ICE BofAML US 3-Month Treasury Bill Index. The Series elected to use the new index because it more closely reflected the Series’ investment strategies.
**April 6, 2019, Foresters Investment Management Company, Inc. (FIMCO), the investment adviser to the First Investors Funds, entered into an agreement with Macquarie Management Holdings, Inc. (MMHI), a leading global investment management company, whereby MMHI, on behalf of its affiliate Delaware Management Company (DMC), a series of Macquarie Investment Management Business Trust (Macquarie), would acquire FIMCO's asset management business (the “Transaction”). In connection with the Transaction, the Board of Trustees of the First Investors Trusts approved, pursuant to an Agreement and Plan of Reorganization (the “Agreement”), the transfer of all assets and liabilities of each First Investors Fund to a corresponding, newly formed fund (each, an “Acquiring Fund,” and collectively, the “Acquiring Funds”) in the Delaware Funds by Macquarie family of funds (each, a “Reorganization” and together, the “Reorganizations”). Following the requisite approval of each Reorganization from shareholders of each First Investors Fund, each Acquiring Fund will be managed by DMC and each Acquiring Fund will have the same or substantially the same investment objective and the same or similar principal investment strategies and principal risks as the corresponding First Investors Fund. The Transaction closed on Oct. 4, 2019 (the “Closing Date”). Information, including without limitation historical holdings and performance information, relating to the Acquiring Funds for periods prior to the Closing Date has been provided by FIMCO and is attributable to the Acquired Funds.
All third-party marks cited are the property of their respective owners.
Carefully consider the Series' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Series' prospectus and its summary prospectus, which may be obtained by visiting delawarefunds.com/vip/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.
Investing involves risk, including the possible loss of principal.
An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of an investment at $1.00 per share, it is possible to lose money by investing in the Fund.
Liquidity risk is the possibility that securities cannot be readily sold within seven days at approximately the price at which a fund has valued them.
The risk that all or a majority of the securities in a certain market — like the stock market or bond market — will decline in value because of factors such as adverse political or economic conditions, future expectations, investor confidence, or heavy institutional selling.
The yields received by the Series on its investments will generally decline as interest rates decline.
Like the values of other debt instruments, the market values of US Government securities are affected by changes in interest rates. When interest rates rise, the market values of US Government securities generally decline. This could cause the Series' NAV to decline below $1.00 per share.
The US Government securities the Series invests in may or may not be backed by the full faith and credit of the US Government. Securities issued by US Government sponsored enterprises are supported only by the credit of the issuing entity. The value of an investment will decline if there is a default by or a deterioration in the credit quality of the issuer or a provider of a credit enhancement or demand feature. This could cause the Series NAV to decline below $1.00 per share.
Delaware VIP Series refers to Delaware VIP Funds. Delaware VIP Funds are not available for direct investment except for issuers of variable insurance product contracts. They are available only through the purchase of certain variable insurance products.