Strategy. Delaware Investments Fund Advisers (DIFA or Sub-Adviser) serves as the Funds sub-adviser. In managing the Fund, DIFA may utilize sub-sub-advisers, Macquarie Investment Management Global Limited (MIMGL), Macquarie Investment Management Europe Limited (MIMEL), and Macquarie Investment Management Austria Kapitalanlage (MIMAK), which are affiliates of DIFA (collectively, the Affiliated Sub-Sub-Advisers). DIFA and MIMAK are primarily responsible for the day-to-day management of the Funds portfolio and determine its asset allocation. MIMGL is responsible for managing real estate investment trust securities and other equity asset classes to which the portfolio managers may allocate assets. For purposes of this section, a reference to Sub-Adviser may also include MIMAK and MIMGL with respect to their role as sub-sub-advisers to the Fund. The Fund invests primarily in … Show more… Delaware Investments Fund Advisers (DIFA or Sub-Adviser) serves as the Funds sub-adviser. In managing the Fund, DIFA may utilize sub-sub-advisers, Macquarie Investment Management Global Limited (MIMGL), Macquarie Investment Management Europe Limited (MIMEL), and Macquarie Investment Management Austria Kapitalanlage (MIMAK), which are affiliates of DIFA (collectively, the Affiliated Sub-Sub-Advisers). DIFA and MIMAK are primarily responsible for the day-to-day management of the Funds portfolio and determine its asset allocation. MIMGL is responsible for managing real estate investment trust securities and other equity asset classes to which the portfolio managers may allocate assets. For purposes of this section, a reference to Sub-Adviser may also include MIMAK and MIMGL with respect to their role as sub-sub-advisers to the Fund. The Fund invests primarily in income-generating securities (debt and equity), which may include equity securities of large, well-established companies, and debt securities, including high yield, high-risk corporate bonds, investment grade fixed income securities, and U.S. government securities. The Fund, under normal circumstances, may invest approximately 50% of its assets in income-generating equity securities, including real estate investment trusts (REITs) and exchange-traded funds (ETFs). While debt securities may comprise up to 40% to 60% of the Funds assets, no more than 10% of the Funds assets may be invested in high yield, high-risk debt securities. No more than 25% of the Funds assets may be invested in any one industry sector nor, as to 75% of the Funds assets, more than 5% may be invested in securities of any one issuer. The Fund may invest up to 30% of its assets in foreign equity and debt securities. The Fund does not invest more than 10% of its assets in securities of issuers principally located or principally operating in markets of emerging countries. In allocating assets, the Sub-Adviser applies a dedicated yield focus for existing asset classes, uses systematic strategies to expand the investment universe and implements a systematic yield-enhancing security selection process. The Sub-Adviser's dynamic asset-allocation framework is used to determine the proportion of the Funds assets that will be allocated to the various asset classes, based on the market assessment and portfolio risk contribution for such asset classes. The framework is intended to reduce riskier assets in times of market volatility and provide additional downside protection. It is expected that the proportion of the Funds assets invested in income-generating equity securities and equity equivalent securities may vary from 40% to 60% of the Funds assets. The proportion of the Funds assets in debt securities may correspondingly vary from 40% to 60% of the Funds assets. In addition, the Sub-Adviser may seek investment advice and recommendations from MIMEL and MIMGL. The Sub-Adviser may also permit MIMEL and MIMGL to execute Fund security trades on behalf of the Sub-Adviser. The Sub-Adviser may also permit MIMEL and MIMGL to exercise investment discretion for securities in certain markets where it believes it will be beneficial to utilize the Affiliated Sub-Sub-Advisers specialized market knowledge, and the Sub-Adviser may also seek quantitative support from MIMGL. The Fund may use a wide range of derivative instruments, typically including forward foreign currency contracts, options, futures contracts, options on futures contracts, and credit default swaps. The Fund will use derivatives for both hedging and non-hedging purposes. For example, the Fund may invest in: futures and options to manage duration and for defensive purposes, such as to protect gains or hedge against potential losses in the portfolio without actually selling a security, or to stay fully invested; forward foreign currency contracts to manage foreign currency exposure; and credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return. The Fund may engage in frequent and active trading of its portfolio investments. Show less