Key features
Provides exposure to US large-cap equity securities with the benefit of an income stream
May complement traditional bond investments and helps diversify income sources within an overall portfolio
Trades potential upside of a stock for current income while seeking downside protection
Daily pricing
as of
02/03/2023
NAV 1-day net change
-0.03
Total net assets
as of
12/31/2022
All share classes
$42.1 million
Overview
Fund identifiers |
NASDAQ |
FPILX |
CUSIP |
24611D730 |
Benchmark and peer group
Portfolio
Market cap (median) Source: FactSet
$152.1 billion
Market cap (weighted average) Source: FactSet
$350.3 billion
Portfolio turnover (last fiscal year)
23%
Cash, cash equivalents and other assets
3.1%
International equities & depositary receipts
-0.2%
Values in excess of 100% and negative values may appear as the result of certain assets and liabilities. See the Fund's prospectus for securities in which the Fund would typically invest.
Top 10 equity holdings as of 12/31/2022
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents.
Total % Portfolio in Top 10 holdings - 46.96%
Sector allocation
as of 12/31/2022
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Information technology
24.6%
Consumer discretionary
10.7%
Communication services
7.2%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
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.
Management
Investment manager
Delaware Management Company (DMC)
Sub-advisor
Ziegler Capital Management, LLC (ZCM)
Wiley D. Angell
-
Chief Investment Officer – ZCM's Fiduciary Asset Management (FAMCO) Group, Senior Portfolio Manager
-
Start date on the Fund:
October 2019
-
Years of industry experience:
37
-
Read bio
Wiley D. Angell
Chief Investment Officer – ZCM's Fiduciary Asset Management (FAMCO) Group, Senior Portfolio Manager
Wiley D. Angell is the chief investment officer and senior portfolio manager for the Fiduciary Asset Management (FAMCO) Group at Ziegler Capital Management. Prior to joining the firm in May 2015, he was chief executive officer and chief investment officer for equities and fixed income for FAMCO since the firm’s inception in 1994. Prior to that, Angell served as portfolio manager for General Dynamics. He was also treasurer of Franklin Savings Association where he managed a multi-billion-dollar mortgage portfolio and was responsible for the firm’s hedging strategies and balance sheet risk control. He has managed institutional portfolios for more than 25 years, specializing in equity, covered call, fixed income, and liability-driven investing (LDI). He received his bachelor’s degree in business and economics from Ottawa University and has served on boards of university endowments and charitable organizations. Angell is currently a board member and board secretary for The Crossing, and he is chairman of the board for Aspenstand.
Sean C. Hughes, CFA
-
Senior Portfolio Manager — Ziegler Capital Management, LLC
-
Start date on the Fund:
October 2019
-
Years of industry experience:
18
-
Read bio
Sean C. Hughes
Senior Portfolio Manager — Ziegler Capital Management, LLC
Sean C. Hughes is a senior portfolio manager for the Fiduciary Asset Management (FAMCO) Group at Ziegler Capital Management. Prior to joining the firm in May 2015, he was a research analyst for FAMCO since 2013. He joined FAMCO in 2005 as a research analyst. Prior to that, Hughes worked at Washington University, where he was involved in managing the Investment Praxis Fund, a portion of the Washington University endowment. He earned a bachelor’s degree from Oberlin College and he is a graduate of the Tuck School of Business Bridge Program. Hughes received his MBA from Washington University in St. Louis. He is a member of CFA Institute and the CFA Society St. Louis.
Fees
The table below describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table below. You may quality for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Delaware Funds by Macquarie. More information about these and other discounts is available from your financial intermediary, in the Fund’s Prospectus under the section entitled “About your account,” and in the Fund’s statement of additional information (SAI) under the section entitled “Purchasing Shares.”
Shareholder fees |
Maximum sales charge (load) imposed on purchases as a percentage of offering price |
none |
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower |
none |
Annual fund operating expenses |
Management fees |
0.80% |
Distribution and service (12b-1) fees |
none |
Other expenses |
0.45% |
Total annual fund operating expenses |
1.25% |
Fee waivers and expense reimbursements1 |
(0.20%) |
Total annual fund operating expenses after fee waivers and expense reimbursements |
1.05% |
Please see the prospectus and SAI for additional information.
1Net expense ratio reflects a contractual waiver of certain fees/and/or expense reimbursements from January 28, 2022 through January 28, 2023. Please see the fee table in the Fund's prospectus for more information.
Institutional Class shares are available only to certain investors. See the prospectus for more information.
Resources
Fact sheet and commentaries
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Other than Macquarie Bank Limited (MBL), none of the entities noted are authorised 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. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.
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.
Separately managed account advisory services are provided by Delaware Capital Management (DCM), a series of MIMBT. Separately managed account advisory services are referred through Delaware Capital Management Advisers, Inc., an SEC-registered investment advisor.