Key features
A research-driven high yield bond fund seeking long-term growth and income
Leverages the team’s credit expertise and presence in the corporate bond market
An experienced management team with significant experience managing through market cycles
Daily pricing
as of
12/12/2024
NAV 1-day net change
No Change
Total net assets
as of
11/30/2024
All share classes
$72.7 million
Overview
Series identifiers |
CUSIP |
246493522 |
Benchmark
Portfolio
Portfolio turnover (last fiscal year)
33%
Cash and cash equivalents
1.2%
Top 10 fixed income holdings as of 11/30/2024
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
EQM MIDSTREAM PARTNERS LP
1.07
SCIENTIFIC GAMES HOLDINGS LP
1.05
FRONTIER COMMUNICATIONS HOLDINGS L
1.04
GENESEE & WYOMING INC.
1.01
JONES DESLAURIERS INSURANCE MANAGE
0.95
Total % Portfolio in Top 10 holdings - 10.81%
Sector allocation
as of 11/30/2024
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.
Technology & electric
5.2%
Credit quality as of 11/30/2024
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 Series' Statement of Additional Information.
Management
John P. McCarthy, CFA
-
Managing Director, Senior Portfolio Manager
-
Start date on the Fund:
October 2019
-
Years of industry experience:
37
-
Read bio
John P. McCarthy
Managing Director, Senior Portfolio Manager
- Re-joined Delaware Investments in 2007, acquired by Macquarie in 2010
- Based in Philadelphia
John is a Senior Portfolio Manager for Fixed Income within Macquarie Asset Management (MAM) Credit, a role he assumed in July 2016. He manages MAM Credit’s high yield portfolios and serves as a Co-Portfolio Manager for MAM Credit’s bank loans, fixed rate multisector, and core plus strategies.
Previously, he was Co-Head of Credit Research for MAM Credit. Before that, he held a number of roles with Delaware Investments, including Senior Research Analyst, Senior High Yield Analyst, High Yield Trader, and Municipal Bond Trader. He worked for Delaware Investments from 1990 to 2002 and re-joined the firm in 2007.
Prior to re-joining Delaware Investments, John was a Senior High Yield Analyst and Trader at Chartwell Investment Partners for five years.
John earned a Bachelor of Science in business administration from Babson College. He holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Philadelphia.
Vivek Bommi
-
Managing Director, Head of Leveraged Credit
-
Start date on the Fund:
November 2023
-
Years of industry experience:
25
-
Read bio
Vivek Bommi
Managing Director, Head of Leveraged Credit
- Joined Macquarie in 2023
- Based in Philadelphia
Vivek is Head of Leveraged Credit within Macquarie Asset Management (MAM) Credit, a role he assumed in November 2023.
He has overall responsibility for the team’s leveraged credit capabilities, including portfolio and business
management.
Prior to joining Macquarie, he was Head of European and UK Fixed Income at AllianceBernstein from August 2021 to
November 2023, responsible for leadership and strategy of European Fixed Income. Before that, Vivek spent more than
10 years at Neuberger Berman within Leveraged Credit in various roles, including Director of Research, Portfolio
Manager, and Head of Europe.
Vivek received a Bachelor of Science in finance from the University of Illinois and a Master of Business
Administration in finance and management from Columbia Business School. He holds the Chartered Financial Analyst®
designation and he is a Certified Public Accountant.
Fees
The following table describes the fees and expenses that you may pay if you buy, hold,
and sell shares of the Series. 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 |
0.65% |
Distribution and service (12b-1) fees |
none |
Other expenses |
0.21% |
Total annual series operating expenses |
0.86% |
Fee waivers and expense reimbursements1 |
(0.11%) |
Total annual series operating expenses after fee waivers and expense reimbursements |
0.75% |
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, 2024 through April 30, 2025. Please see the fee table in the Fund's
prospectus for more information.
Resources
Shareholder report – Annual
Shareholder report – Semi-annual