Institutional Class (DULTX)
Key features
A high quality ultrashort fund designed to protect principal while generating income
An actively managed portfolio emphasizing risk control and liquidity
An experienced management team with a long history managing short-term portfolios
Daily pricing
as of
10/10/2024
NAV 1-day net change
No Change
Total net assets
as of
09/30/2024
All share classes
$116.3 million
Overview
Fund identifiers |
NASDAQ |
DULTX |
CUSIP |
245910500 |
Benchmark and peer group
Portfolio
Number of credit issuers
55
Portfolio turnover (last fiscal year)
81%
Top 10 fixed income holdings as of 09/30/2024
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
ARI FLEET LEASE TRUST ARIFL_24-B
1.74
Total % Portfolio in Top 10 holdings - 19.18%
Fixed income sectors
as of 09/30/2024
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Asset-backed securities
44.4%
Commercial mortgage-backed securities
0.6%
Credit quality as of 09/30/2024
Total may not equal 100% due to rounding. The Fund’s investment manager, Delaware Management Company (DMC) receives “Credit Quality” ratings for the underlying securities held by the Fund from three “nationally recognized statistical rating organizations” (NRSROs) — Standard & Poor’s (S&P), Moody’s Investors Service, and Fitch, Inc. The credit quality breakdown is calculated by DMC based on the NSRO ratings and the index credit quality rules. For securities rated by an NRSRO other than S&P, that rating is converted to the equivalent S&P credit rating. Securities that are unrated by any of the three NRSROs are included in the “not rated” category when applicable. Unrated securities do not necessarily indicate low quality. More information about securities ratings is contained in the Fund’s Statement of Additional Information.
Distribution history - annual distributions (Institutional
Class)1,2
Distributions ($ 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
Stephen M. Juszczyszyn
-
Managing Director, Senior Portfolio Manager
-
Start date on the Fund:
June 2019
-
Years of industry experience:
33
-
Read bio
Stephen M. Juszczyszyn
Managing Director, Senior Portfolio Manager
- Re-joined Delaware Investments in 2007, acquired by Macquarie in 2010
- Based in Philadelphia
Stephen is a Senior Portfolio Manager for Fixed Income within Macquarie Asset Management (MAM) Credit, a role he assumed in July 2020. He is primarily responsible for portfolio construction and asset allocation of MAM Credit’s structured products. He is also responsible for research analysis, trading, and portfolio management for MAM Credit’s structured products including mortgage-backed securities (MBS), commercial MBS, and asset-backed securities across all core, core plus, multisector, limited-term, and insurance strategies.
He has more than 25 years of experience as a fixed income Portfolio Manager, Trader, and Analyst specializing in structured products. He re-joined Delaware Investments as a Vice President and Senior Structured Products Analyst and Trader. He previously worked at Delaware Investments from 1991 to 2001, leaving as a Senior Fixed Income Trader and Assistant Portfolio Manager.
Prior to re-joining Delaware Investments, Stephen worked at Sovereign Bank Capital Markets as Director of Fixed Income Trading.
He earned a Bachelor of Finance from La Salle University and a Master of Business Administration with a concentration in finance from Saint Joseph’s University.
Kathleen (Marnell) Burst
-
Vice President, Portfolio Manager
-
Start date on the Fund:
June 2019
-
Years of industry experience:
37
-
Read bio
Kathleen (Marnell) Burst
Vice President, Portfolio Manager
- Joined Delaware Investments in 1987, acquired by Macquarie in 2010
- Based in Philadelphia
Kathleen is a Portfolio Manager for Fixed Income within Macquarie Asset Management (MAM) Credit, a role she assumed in June 2019. She is primarily responsible for short-term investments. Additionally, her responsibilities include executing trade strategies for the firm’s short-term trading desk, a role she assumed with Delaware Investments in June 1994.
She earned a Bachelor of Science in accounting and management from La Salle University.
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
qualify for sales-charge discounts if you and your family invest, or agree to invest in the
future, at least $100,000 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 |
0.30% |
Distribution and service (12b-1) fees |
none |
Other expenses |
0.36% |
Total annual fund operating expenses |
0.66% |
Fee waivers and expense reimbursements1 |
(0.26%) |
Total annual fund operating expenses after fee waivers and expense reimbursements |
0.40% |
Please see the prospectus and SAI for additional information.
1Net expense ratio reflects a contractual waiver of certain fees and/or expense
reimbursements from July 31, 2024 through July 30, 2025. 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.