Institutional Class shares

Alternative/specialty funds

Fixed income funds

Global/international equity funds

Limited distribution funds

Multi-asset funds

U.S. equity funds

Delaware International Small Cap Fund

(formerly, Delaware Focus Global Growth Fund)

1/16 (15884)

*Closed to certain new investors. Please refer to the appropriate prospectus and summary prospectus for additional information.

Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds' prospectuses and their summary prospectuses, which may be obtained by visiting delawarefunds.com/literature or calling 800 362-7500. Investors should read the prospectuses and the summary prospectuses carefully before investing.

Investing involves risk, including the possible loss of principal.

The Funds are distributed by Delaware Distributors, L.P., an affiliate of Macquarie Investment Management Business Trust (MIMBT), Macquarie Management Holdings, Inc., 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.

Not FDIC Insured | No Bank Guarantee | May Lose Value