Strategy. Macquarie VIP Fund for Income Series primarily invests in corporate bonds rated at the time of purchase lower than BBB- by Standard & Poors Financial Services LLC (S&P) or lower than Baa3 by Moodys Investors Service, Inc. (Moodys), or similarly rated by another nationally recognized statistical rating organization (NRSRO). These are commonly known as high yield bonds or junk bonds and involve greater risks than investment grade bonds. The Series Series summary may also invest in unrated bonds that the Manager judges to be of comparable quality. Unrated bonds may be more speculative in nature than rated bonds. The Series may also invest in US and foreign government securities and corporate bonds of foreign issuers. The Series may invest in … Show more… Macquarie VIP Fund for Income Series primarily invests in corporate bonds rated at the time of purchase lower than BBB- by Standard & Poors Financial Services LLC (S&P) or lower than Baa3 by Moodys Investors Service, Inc. (Moodys), or similarly rated by another nationally recognized statistical rating organization (NRSRO). These are commonly known as high yield bonds or junk bonds and involve greater risks than investment grade bonds. The Series Series summary may also invest in unrated bonds that the Manager judges to be of comparable quality. Unrated bonds may be more speculative in nature than rated bonds. The Series may also invest in US and foreign government securities and corporate bonds of foreign issuers. The Series may invest in bonds of any maturity or duration. The Series may invest up to 40% of its net assets in foreign securities; however, the Series total non-US-dollar currency exposure will be limited, in the aggregate, to no more than 25% of the Series net assets, and investments in emerging market securities will be limited to 20% of the Series net assets. Emerging market countries include those currently considered to be developing or emerging countries by the World Bank, the United Nations, the countries governments, or in the judgment of the Manager. In selecting bonds for the portfolio, the Manager evaluates the income provided by the bond and the bonds appreciation potential as well as the issuers ability to make income and principal payments. In addition, the Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), Macquarie Investment Management Europe Limited (MIMEL), and Macquarie Investment Management Global Limited (MIMGL) (together, the Affiliated Sub-Advisors). The Manager may also permit these Affiliated Sub-Advisors to execute Series security trades on behalf of the Manager and exercise investment discretion for securities in certain markets where the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor's specialized market knowledge. Show less