Key features
A high quality, research-driven corporate bond fund designed for long-term growth
Leverages the team’s expertise and presence in corporate bond market
An experienced management team and a time-tested process and philosophy
Daily pricing
as of
11/29/2023
NAV 1-day net change
0.03
Total net assets
as of
10/31/2023
All share classes
$443.6 million
Overview
| Series identifiers |
| CUSIP |
46600H307 |
Benchmark
Portfolio
Portfolio turnover (last fiscal year)
67%
U.S. government securities
2.9%
Top 10 fixed income holdings as of 10/31/2023
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
ATHENE GLOBAL FUNDING
1.08
CREDIT SUISSE AG (NEW YORK BRANCH)
0.99
Total % Portfolio in Top 10 holdings - 11.94%
Sector allocation
as of 10/31/2023
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Series’ complete list of holdings for more information.
Financial institutions
35.2%
Consumer noncyclical
8.4%
Credit quality as of 10/31/2023
Total may not equal 100% due to rounding. The Series' 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.
Management
Michael G. Wildstein, CFA
-
Senior Managing Director, Head of US Credit and Insurance
-
Start date on the Fund:
November 2021
-
Years of industry experience:
22
-
Read bio
Michael G. Wildstein
Senior Managing Director, Head of US Credit and Insurance
Michael G. Wildstein is Head of US Credit and Insurance for Macquarie Asset Management Fixed Income (MFI). He manages corporate credit-related portfolios. Before joining the team, he was a senior corporate bond analyst for MFI, focused on the telecommunications sector for high-grade and high yield portfolios. Prior to joining Macquarie Asset Management in March 2007 as a senior research analyst, Wildstein spent five years at Merrill Lynch Investment Managers in various roles that included portfolio manager for the core bond team, corporate bond research analyst, and corporate bond trader. Prior to this, Wildstein worked in finance, corporate strategy, and business development with several firms including RCN Corporation and AT&T Local Services. He earned an MBA from Drexel University and a bachelor’s degree from the University of Tampa.
Kashif Ishaq
-
Managing Director, Senior Portfolio Manager
-
Start date on the Fund:
November 2021
-
Years of industry experience:
21
-
Read bio
Kashif Ishaq
Managing Director, Senior Portfolio Manager
Kashif Ishaq is a Senior Portfolio Manager across Macquarie Asset Management Fixed Income’s (MFI) US
Corporate Bond strategies. He manages corporate bond exposure within MFI’s portfolios which include performing relative value analysis across different issuers, corporate curves and capital structures as well as
risk surveillance. Given his experience in trading and risk systems, he has oversight for our corporate credit
traders and maintains our key broker/dealer relationships. He started his fixed income career with Macquarie
Asset Management (MAM) as a portfolio analyst on the firm’s insurance portfolio management team before
taking a position as an investment grade trader. Previously, he participated in Lincoln Financial Group’s
rotational Professional Development Program. He started the program as a financial analyst in the Hartford
office, followed by a position in information technology, and lastly he spent a year in the client services
department of Delaware Investments. Ishaq received his bachelor’s degree in corporate finance and
accounting from Bentley College.
Fees
The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Portfolio. The fee table does not reflect any fees or sales charges imposed by variable insurance contracts. If it did, the expenses would be higher.
| Annual portfolio operating expenses |
| Management fees |
0.47% |
| Distribution and service (12b-1) fees |
0.25% |
| Other expenses |
0.08% |
| Total annual portfolio operating expenses |
0.80% |
Please see the prospectus and SAI for additional information.
1Net expense ratio reflects a contractual waiver of certain fees/and/or expense reimbursements from May 1, 2023 through April 30, 2024. Please see the fee table in the Portfolios' prospectus for more information.
Resources
Fact sheet and commentaries