Strategy. Delaware Investments Fund Advisers (DIFA) serves as the Funds sub-adviser. In managing the Fund, DIFA may utilize sub-sub-adviser, Macquarie Investment Management Global Limited, which is an affiliate of DIFA (collectively, the Sub-Adviser). The Sub-Adviser is responsible for the day-to-day management of the Funds assets. The Fund, under normal circumstances, pursues its objective by investing at least 80% of the Funds assets in medium-sized U.S. companies with market capitalizations, at the time of purchase, similar to the market capitalization of companies in the Russell Midcap Value Index. The market capitalization range of the Russell Midcap Value Index was $272.8 million to $86.31 billion as of March 31, 2025. The Fund may also invest in some small-cap companies. The Fund may invest … Show more… Delaware Investments Fund Advisers (DIFA) serves as the Funds sub-adviser. In managing the Fund, DIFA may utilize sub-sub-adviser, Macquarie Investment Management Global Limited, which is an affiliate of DIFA (collectively, the Sub-Adviser). The Sub-Adviser is responsible for the day-to-day management of the Funds assets. The Fund, under normal circumstances, pursues its objective by investing at least 80% of the Funds assets in medium-sized U.S. companies with market capitalizations, at the time of purchase, similar to the market capitalization of companies in the Russell Midcap Value Index. The market capitalization range of the Russell Midcap Value Index was $272.8 million to $86.31 billion as of March 31, 2025. The Fund may also invest in some small-cap companies. The Fund may invest in real estate investment trusts (REITs). The Funds management style focuses on seeking medium-sized companies whose stock prices appear low relative to their underlying value or future potential. Among other factors, the Sub-Adviser considers the financial strength of a company, its management style, the prospects for its industry, and any anticipated changes within the company that might suggest a more favorable outlook going forward. Additionally, the Sub-Adviser focuses on free cash flow and a company's sustainability to buy back its shares, lower its debt and/or increase or initiate dividends. The Fund uses a blend of quantitative analysis and fundamental research in its effort to find the most attractive stocks in each industry. This blended assessment includes a review of a number of factors, including low price-to-earnings ratio, low price-to-cash flow, and improving earnings estimates. Fund investments are replaced if a possible new investment appears significantly more attractive under the Funds investment criteria. Show less