Strategy. Delaware Investments Fund Advisers (DIFA) serves as the Funds sub-adviser. In managing the Fund, DIFA may utilize sub-sub-advisers, Macquarie Investment Management Europe Limited, Macquarie Investment Management Global Limited and Macquarie Investment Management Austria Kapitalanlage, which are affiliates 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, will invest at least 80% of its assets in floating rate securities, including but not limited to, investment grade corporate bonds, bank loans, high yield bonds (junk bonds), non-agency mortgage-backed securities, asset-backed securities, securities issued or guaranteed by the U.S. government, municipal bonds, securities of foreign issuers in both developed and emerging markets, and may include derivative instruments that attempt to … Show more… Delaware Investments Fund Advisers (DIFA) serves as the Funds sub-adviser. In managing the Fund, DIFA may utilize sub-sub-advisers, Macquarie Investment Management Europe Limited, Macquarie Investment Management Global Limited and Macquarie Investment Management Austria Kapitalanlage, which are affiliates 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, will invest at least 80% of its assets in floating rate securities, including but not limited to, investment grade corporate bonds, bank loans, high yield bonds (junk bonds), non-agency mortgage-backed securities, asset-backed securities, securities issued or guaranteed by the U.S. government, municipal bonds, securities of foreign issuers in both developed and emerging markets, and may include derivative instruments that attempt to achieve a floating rate of income for the Fund when they are combined with a group of fixed rate securities. The Funds investments may be variable and floating rate fixed-income securities that generally pay interest at rates that adjust whenever a specified interest rate changes and/or reset on predetermined dates (such as the last day of a month or calendar quarter). Some of the Funds investments in bank loans may also include an IBOR floor. Derivative instruments may be utilized to effectively convert the fixed rate of interest payments from a group of certain Fund portfolio securities into floating rate interest payments. The average portfolio duration (i.e., the sensitivity to general changes in interest rates) of the Fund will generally not exceed one year. Up to 50% of the Funds assets may be allocated to below investment grade securities (junk bonds). Investments in emerging markets will, in the aggregate, be limited to no more than 15% of the Funds assets. Non-U.S. dollar-denominated securities will be limited to no more than 50% of assets, but total non-U.S. dollar currency exposure will be limited, in the aggregate, to no more than 25% of assets. The Fund may also invest up to 20% of its assets in a wide range of derivative instruments, including options, futures contracts, options on futures contracts, and swaps. Derivatives may be used for hedging or non-hedging purposes, such as to enhance total return or to gain exposure to certain securities or markets. The Fund may invest up to 15% of assets in illiquid holdings. In addition, the Fund may hold a portion of its assets in cash or cash equivalents. As a part of its risk management, the Fund's portfolio of securities has an overall minimum weighted average credit rating of A-/A3 or above as defined by Standard & Poor's Corp. and by Moody's Investors Service, Inc., respectively. This minimum credit rating ensures that the portfolio on average will remain investment grade even though the Fund may invest in individual securities rated below investment grade that present a higher level of risk. Show less