Delaware Global Equity Fund**(formerly, First Investors Global Fund)

Key features

Seek securities that are potentially mispriced due to the market’s short-term bias

Disciplined investment process that seeks to identify underappreciated businesses

Investment philosophy that balancing valuation and quality can reduce downside risk

Daily pricing as of 07/02/2020

NAV
NAV 1-day net change
Max offer price
$6.69

Total net assets as of 05/31/2020

All share classes
$300.0 million

Overview

Fund information
Inception date04/01/2013
Dividends paid (if any)Annually
Capital gains paid (if any)November or December
Fund identifiers
NASDAQFIITX
CUSIP24611D805

Benchmark and peer group

MSCI World Index (primary) (view definition)

MSCI All Country World Index (ACWI) (view definition)

Morningstar World Large Stock Category (view definition)

Lipper Global Large-Cap Growth Funds Average (view definition)

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 (06/30/2020)

Returns for less than one year are not annualized.

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

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

Performance shown prior to Oct. 4, 2019, are as of the predecessor fund and investment team. Please see the Updated Significant Fund Event and prospectus for more information.

Average annual total return as of quarter-end (06/30/2020)

Returns for less than one year are not annualized.

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

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

Performance shown prior to Oct. 4, 2019, are as of the predecessor fund and investment team. Please see the Updated Significant Fund Event and prospectus for more information.

Overall Morningstar RatingTM

Institutional Class shares - as of 05/31/2020

MorningstarMorningstarMorningstar
RatingNo. of funds
Overall3762
3 years3762
5 years3626
10 years3368
Morningstar categoryWorld Large Stock
 

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 05/31/2020
YTD ranking 334 / 910
1 year 477 / 868
3 years 409 / 762
5 years 346 / 626
10 years n/a
Morningstar categoryWorld Large Stock

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of 05/31/2020
YTD ranking 170 / 192
1 year 175 / 176
3 years 155 / 161
5 years 126 / 129
10 years n/a
Lipper classificationLipper Global Large-Cap Growth Fds

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
1.16%
Net
1.07%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from Oct. 4, 2019 through Oct. 31, 2021. Please see the fee table in the Fund's prospectus for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2019
22.06%
2018
-10.89%
2017
24.23%
2016
1.75%
2015
2.54%
2014
4.68%

Portfolio

Portfolio characteristics as of 05/31/2020

Number of holdings
38
Market cap (median) Source: FactSet
$26.1 billion
Market cap (weighted average) Source: FactSet
$75.7 billion
Portfolio turnover (last fiscal year)
119%
Beta (relative to MSCI World Index (Net)) (view definition)
0.79
Annualized standard deviation, 3 years (view definition)
13.55

Portfolio composition as of 06/30/2020
Total may not equal 100% due to rounding.

International equities & depositary receipts
67.0%
Domestic equities
32.7%
Cash and cash equivalents
0.3%

Top 10 holdings as of 06/30/2020

Holdings are as of the date indicated and subject to change.

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.

Holdings based by issuer.

Holding
% of portfolio
Holding
% of portfolio
Roche Holding AG
5.24
KIMBERLY-CLARK CORPORATION
5.22
Koninklijke Ahold Delhaize NV
5.16
Danone S.A.
4.78
Novo Nordisk A S
4.62
General Mills Inc.
4.39
Nestle S.A.
4.31
LAIR LIQUIDE SA POUR LETUDE ET LEXPLO DE
4.23
Conagra Brands Inc.
4.15
Fresenius Medical Care AG & Co. KGaA
4.12

Total % Portfolio in Top 10 holdings - 46.22%

List of monthly holdingsList of quarterly holdings

Top 10 countries as of 06/30/2020

List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes.

Country
% of portfolio
Country
% of portfolio
United States
32.7%
France
15.7%
Japan
14.6%
Switzerland
11.1%
Germany
6.3%
Netherlands
5.2%
United Kingdom
5.1%
Denmark
4.6%
Sweden
3.4%
Ireland
1.1%

Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)

Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income
2020
0.000
0.000
2019
1.037
0.052
2018
0.997
0.000
2017
0.630
0.051
2016
0.000
0.018
2015
0.397
0.010
2014
1.514
0.000
2013
0.110
0.000
2012
0.000
0.000
2011
0.000
0.000
2010
0.000
0.000

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.

Management

Jens Hansen

Jens Hansen 

  • Chief Investment Officer — Global Equity Team
  • Start date on the Fund: October 2019
  • Years of industry experience: 30
  • Read bio
Klaus Petersen

Klaus Petersen, CFA

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: October 2019
  • Years of industry experience: 22
  • Read bio
Claus Juul

Claus Juul 

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: October 2019
  • Years of industry experience: 21
  • Read bio
Asa Annerstedt

Åsa Annerstedt 

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: October 2019
  • Years of industry experience: 23
  • Read bio
Allan Saustrup Jensen

Allan Saustrup Jensen, CFA, CAIA®

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: May 2020
  • Years of industry experience: 22
  • Read bio
Chris Gowlland

Chris Gowlland, CFA

  • Senior Vice President, Head of Equity Quantitative Research
  • Start date on the Fund: October 2019
  • Years of industry experience: 23
  • Read bio

Fees

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 fees0.85%
Distribution and service (12b-1) feesnone
Other expenses0.31%
Total annual fund operating expenses1.16%
Fee waivers and expense reimbursements1(0.09%)
Total annual fund operating expenses after fee waivers and expense reimbursements1.07%

1 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 1.07% 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.

Resources

Institutional Class shares are available only to certain investors. See the prospectus for more information.

*The Fund changed its broad-based securities index to the MSCI World Index (net) as of Oct. 4, 2019. The Fund elected to use the new index because it more closely reflected the Fund’s investment strategies.

**Updated Significant Fund Event. On 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), whereby MMHI, on behalf of its affiliate Delaware Management Company (DMC), a series of Macquarie Investment Management Business Trust (MIMBT), would acquire FIMCO’s asset management business (the “Transaction”). In connection with the Transaction, the Board of Trustees of the First Investors Trusts and the First Investors Fund shareholders 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 in the Delaware Funds by Macquarie family of funds. The Transaction closed on Oct. 4, 2019.

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 under the Resources section, or calling 877 693-3546. Investors should read the prospectus and the summary prospectus carefully before investing.

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 are located under the Resources section, or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

The Fund’s investment manager, Delaware Management Company (Manager), may permit its affiliates, Macquarie Investment Management Global Limited (MIMGL) and Macquarie Funds Management Hong Kong Limited, to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Investing involves risk, including the possible loss of principal.

International investments entail risks not ordinarily associated with US investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations. Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.

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 Fund may allocate more of their net assets to investments in single securities than “diversified” funds.

Narrowly focused investments may exhibit higher volatility than investments in multiple industry sectors.

Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis, and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and can be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund’s investments. Given the increasing interdependence among global economies and markets, conditions in one country, market, or region are increasingly likely to adversely affect markets, issuers, and/or foreign exchange rates in other countries. These disruptions could prevent the Fund from executing advantageous investment decisions in a timely manner and could negatively impact the Fund’s ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund.

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

Not FDIC Insured • No Bank Guarantee • May Lose Value

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