Key features
A flexible short-term bond fund designed with the goal of weathering market cycles
An actively managed bond portfolio emphasizing risk mitigation and liquidity
Experienced management team with a long history of managing short-term portfolios
Daily pricing
as of
11/08/2024
NAV 1-day net change
No Change
Total net assets
as of
10/31/2024
All share classes
$173.0 million
Overview
Series identifiers |
CUSIP |
46600H687 |
Benchmark
Portfolio
Portfolio turnover (last fiscal year)
143%
U.S. government securities/Short term
28.8%
Asset-backed securities
26.1%
Mortgage-backed securities
6.1%
Commercial mortgage-backed securities
4.1%
Top 10 fixed income holdings as of 10/31/2024
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Total % Portfolio in Top 10 holdings - 30.97%
Sector allocation
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 Series’ complete list of holdings for more information.
Investment grade corporates
31.3%
U.S. Treasury securities
27.6%
Asset-backed securities/CLO
26.1%
Commercial mortgage-backed securities
4.1%
High yield corporates
2.1%
Credit quality as of 09/30/2024
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
Janaki Rao
-
Managing Director, Head of US Multisector
-
Start date on the Fund:
May 2024
-
Years of industry experience:
31
-
Read bio
Janaki Rao
Managing Director, Head of US Multisector
- Joined Macquarie in 2024
- Based in Philadelphia
Janaki is Head of the US Multisector Team within Macquarie Asset Management (MAM) Credit, a role he assumed in May
2024. He has overall responsibility for MAM Credit’s US multisector capabilities, including the portfolios, the team,
and client and business management.
Prior to joining Macquarie, he was Director of US Multisector Fixed Income at AllianceBernstein from November 2019 to
February 2023, responsible for managing multisector fixed income portfolios, including Treasury inflation-protected
securities (TIPS) and agency mortgage-backed securities (MBS) portfolios. Before that, he was AllianceBernstein’s
Head of Agency MBS from March 2013 to November 2019, and prior to that spent seven years at Morgan Stanley as Vice
President of Agency MBS Research.
Janaki received a Bachelor of Arts (Honors) in economics from the University of Delhi, a Master of Business
Administration with an emphasis in marketing from Symbiosis Institute of Business Management, and a Master of
Business Administration with an emphasis in finance from the Zicklin School of Business at Baruch College.
Andrew Vonthethoff, CFA
-
Senior Portfolio Manager
-
Start date on the Fund:
May 2024
-
Years of industry experience:
17
-
Read bio
Andrew Vonthethoff
Senior Portfolio Manager
- Joined Macquarie in 2008
- Based in Philadelphia
Andrew is a Senior Portfolio Manager for the Global Fixed Income Team within Macquarie Asset Management (MAM) Credit. He is a lead portfolio manager for global multisector and global bond strategies, a role he assumed in June 2013, and for US multisector portfolios, which he assumed in May 2024. In this role, he is responsible for asset allocation, sector rotation, and security selection across MAM Credit’s global and US multisector portfolios.
Andrew joined the firm in 2008 as a Quantitative Analyst on MAM Credit’s Markets and Quantitative Team, where he was involved in building and maintaining financial models. He transferred to the Global Fixed Income Team in 2010, becoming an Assistant Portfolio Manager.
He earned a Bachelor of Commerce in actuarial studies and finance from the University of New South Wales. He also holds the Chartered Financial Analyst® designation.
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 |
0.50% |
Distribution and service (12b-1) fees |
0.25% |
Other expenses |
0.11% |
Total annual series operating expenses |
0.86% |
Fee waivers and expense reimbursements1 |
(0.07%) |
Total annual series operating expenses after fee waivers and expense reimbursements |
0.79% |
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 Series'
prospectus for more information.
Resources
Shareholder report – Annual
Shareholder report – Semi-annual