Delaware Growth Equity Fund** (formerly, First Investors Select Growth Fund)

Key features

  • Concentrated approach that seeks high-quality companies with undiscovered growth potential
  • Systematic integration of technology and fundamental analysis leads to strong risk controls and drives performance
  • Straightforward investment philosophy that has been applied consistently for more than 30 years
Fund information
Inception date04/01/2013
Dividends paid (if any)Annually
Capital gains paid (if any)November or December
Fund identifiers
NASDAQFICIX
CUSIP24611D680

Please click below to view Fund 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 (09/30/2019)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)14.65%5.28%15.21%10.25%n/a12.89%04/01/2013
Russell 1000 Growth Index26.77%17.10%18.92%13.43%n/a15.28%
Russell 3000 Growth Index26.21%16.34%18.50%13.05%n/a14.93%
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-1.74%-5.66%13.32%10.66%n/a12.66%04/01/2013
Russell 1000 Growth Index1.49%3.71%16.89%13.39%n/a15.00%
Russell 3000 Growth Index1.10%2.70%16.36%13.07%n/a14.65%

Returns for less than one year are not annualized.

Benchmark lifetime returns are as of the Fund's inception date.

Class C shares redeemed within one year of purchase are subject to a 1.00% contingent deferred sales charge (CDSC). Class C shares are eligible to automatically convert to Class A shares with a lower 12b-1 fee approximately 10 years after you buy Class C shares.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Expense ratio
Gross0.74%
Net0.74%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
2019n/an/a-1.74%n/an/a
20178.48%4.51%n/an/an/a
2016-2.15%0.46%4.29%n/an/a
20154.63%0.32%-5.69%4.38%3.33%
2014n/an/an/a7.64%13.60%

Please click here to view monthly holdings.

Portfolio characteristics - as of 10/31/2019Russell 1000 Growth Index
Number of holdings39521
Market cap (median) $40.7 billion13148809000.000000000
Market cap (weighted average) $190.1 billion349190173406.310000000
Portfolio turnover (last fiscal year)37%n/a
Beta (relative to Russell 1000 Growth Index) (view definition)0.99n/a
Annualized standard deviation, 3 years (view definition)11.44n/a
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
MICROSOFT CORP4.08%
Alphabet Inc.3.60%
ZEBRA TECH CORP3.46%
Adobe Inc.3.43%
Cadence Design Systems Inc.3.38%
Fortinet Inc.3.24%
Facebook Inc.3.22%
PAYPAL HOLDINGS INC3.19%
Automatic Data Processing Inc.3.16%
Apple Inc.2.93%
Total % Portfolio in Top 10 holdings33.69%
Distribution history - annual distributions (Class J)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20190.0000.000
20180.0000.000
20170.0000.000
20160.0000.000
20150.0000.000
20140.0000.000
20130.0000.000
20120.0000.000
20110.0000.000
20100.0000.000
20090.0000.000

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.

Investment manager

Delaware Management Company (DMC)

Sub-advisor

Smith Asset Management Group


Stephen Smith

Stephen S. Smith, CFA

Chief Executive Officer, Chief Investment Officer

Start date on the Fund: October 2019

Years of industry experience: 42

(View bio)


John Brim

John D. Brim, CFA

Chief Investment Officer

Start date on the Fund: October 2019

Years of industry experience: 29

(View bio)


Eivind Olsen

Eivind Olsen, CFA

Portfolio Manager

Start date on the Fund: October 2019

Years of industry experience: 25

(View bio)


The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering pricenone
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees0.65%
Distribution and service (12b-1) feesnone
Other expenses0.09%
Total annual fund operating expenses0.74%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements0.74%

1 “Other expenses” for Class R6 are estimated and account for Class R6 shares not being subject to certain expenses as described further in the section of the prospectus entitled “Choosing a share class."

2 The Fund’s investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any acquired fund fees and expenses, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.79% of the Fund’s average daily net assets from Oct. 4, 2019 through Oct. 31, 2021. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

*The Fund changed its broad-based index from the Russell 3000 Growth Index as of Jan. 31, 2019. The Fund elected to use the new index because it more closely reflects the Fund’s investment strategy.

**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.

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 its summary prospectus, which may be obtained by clicking the prospectus link located in the right-hand sidebar. For investors investing in Delaware Funds by Macquarie (formerly First Investors Funds) please call 800 423-4026. Investors should read the prospectus and the summary prospectus carefully before investing.

Smith Asset Management Group, L.P. (Smith), a US registered investment advisor, is the sub-advisor to the Fund. As sub-advisor, Smith is responsible for day-to-day management of the Fund’s assets. Delaware Management Company (DMC), a series of Macquarie Investment Management Business Trust (MIMBT), has ultimate responsibility for all investment advisory services.

Investing involves risk, including the possible loss of principal.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

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.

Because the Fund expects to hold a concentrated portfolio of a limited number of securities, the Fund's risk is increased because each investment has a greater effect on the Fund's overall performance.

All third-party marks cited are the property of their respective owners.

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Daily pricing (as of 11/18/2019)

Class R6PriceNet change
NAV$13.320.01
Max offer price$13.32n/a

Total net assets (as of 10/31/2019)

$649.7 million all share classes

Overall Morningstar RatingTM

 
Class J shares (as of 10/31/2019)
Class JNo. of funds
Overall31232
3 Yrs21232
5 Yrs31095
10 Yrs3813
Morningstar categoryMorningstar Large Growth Category

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking (as of 10/31/2019)

YTD ranking1333 / 1378
1 year1342 / 1373
3 years828 / 1232
5 years719 / 1095
10 yearsn/a
Morningstar categoryMorningstar Large Growth Category

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking (as of 10/31/2019)

YTD ranking508 / 556
1 year518 / 555
3 years441 / 498
5 years332 / 437
10 yearsn/a
Lipper classificationLipper Multi-Cap Growth Funds Average

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Literature

Prospectuses and reports

Benchmark and peer group

Russell 1000® Growth Index (view definition)

Russell 3000® Growth Index (view definition)

Morningstar Large Growth Category (view definition)

Lipper Multi-Cap Growth Funds Average (view definition)

Additional information