-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Lu0jaxpwLC4xp9Bf/USpZN+7Q4NrnQVi4b2etPP0Hxeh0i5b3Mx5Rwag5MqcKGJb I9kgBNwQ0RB5PrLP6PXH0Q== 0000950116-98-002435.txt : 19981216 0000950116-98-002435.hdr.sgml : 19981216 ACCESSION NUMBER: 0000950116-98-002435 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS I INC CENTRAL INDEX KEY: 0000027801 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 510082601 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-10765 FILM NUMBER: 98769624 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2157512926 MAIL ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP DELAWARE FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE FUND INC DATE OF NAME CHANGE: 19880718 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS II INC CENTRAL INDEX KEY: 0000027574 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 510100310 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-13017 FILM NUMBER: 98769625 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2157512926 MAIL ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP DECATUR FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DECATUR FUND INC DATE OF NAME CHANGE: 19880808 FORMER COMPANY: FORMER CONFORMED NAME: DECATUR INCOME FUND INC DATE OF NAME CHANGE: 19860515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS III INC CENTRAL INDEX KEY: 0000027937 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 510106828 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-28871 FILM NUMBER: 98769626 BUSINESS ADDRESS: STREET 1: 1 COMMERCE SQ 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2157512926 MAIL ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP TREND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DELTA TREND FUND INC DATE OF NAME CHANGE: 19880630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VOYAGEUR MUTUAL FUNDS III INC /MN/ CENTRAL INDEX KEY: 0000763749 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: PA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-95928 FILM NUMBER: 98769627 BUSINESS ADDRESS: STREET 1: 1818 MARKET STREET STREET 2: STE 4400 CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2152552926 MAIL ADDRESS: STREET 1: 1818 MARKET STREET STREET 2: STE 4400 CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: VOYAGEUR GROWTH STOCK FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VOYAGEUR GRANIT GROWTH STOCK FUND INC DATE OF NAME CHANGE: 19901211 FORMER COMPANY: FORMER CONFORMED NAME: BANKERS SYSTEMS GRANIT GROWTH STOCK FUND INC DATE OF NAME CHANGE: 19890704 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS V INC CENTRAL INDEX KEY: 0000809821 STANDARD INDUSTRIAL CLASSIFICATION: [] FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-11419 FILM NUMBER: 98769628 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2157512926 MAIL ADDRESS: STREET 1: ONE COMMERCE SQ STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP VALUE FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP INSIGHT FUND INC DATE OF NAME CHANGE: 19870621 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE POOLED TRUST INC CENTRAL INDEX KEY: 0000875352 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 232651511 STATE OF INCORPORATION: PA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-40991 FILM NUMBER: 98769629 BUSINESS ADDRESS: STREET 1: 2005 MARKET STREET STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2157512926 MAIL ADDRESS: STREET 1: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP GLOBAL & INTERNATIONAL FUNDS INC CENTRAL INDEX KEY: 0000875610 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-41034 FILM NUMBER: 98769630 BUSINESS ADDRESS: STREET 1: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2157512923 MAIL ADDRESS: STREET 1: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP ADVISER FUNDS INC /MD/ CENTRAL INDEX KEY: 0000910682 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 521842569 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-67490 FILM NUMBER: 98769631 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2152552926 MAIL ADDRESS: STREET 1: DELAWARE GROUP ADVISERS FUNDS INC STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP ADVISER FUNDS INC DATE OF NAME CHANGE: 19960508 FORMER COMPANY: FORMER CONFORMED NAME: LINCOLN ADVISOR FUNDS INC DATE OF NAME CHANGE: 19931203 FORMER COMPANY: FORMER CONFORMED NAME: LINCOLN RENAISSANCE FUNDS INC DATE OF NAME CHANGE: 19930817 497 1 FORM 497 Aggressive Growth Fund Growth Stock Fund Tax-Efficient Equity Fund Supplement to Statement of Additional Information dated June 29, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
Average Annual Total Return Cumulative Total Return ------------------------------------- ------------------------------------------------------------ Aggressive Growth Growth Stock Aggressive Growth Growth Stock Tax-Efficient Equity Fund A Class Fund A Class Fund A Class Fund A Class Fund A Class (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2)(3) ----------------- ---------------- ----------------- ---------------- -------------------- 3 months ended 4/30/98 N/A N/A 12.96% 0.19% 4.86% 6 months ended 4/30/98 N/A N/A 13.91% 10.20% 15.77% 9 months ended 4/30/98 N/A N/A 29.50% 7.29% 13.27% 1 year ended 4/30/98 87.14% 27.49% 87.14% 27.49% N/A 3 years ended 4/30/98 36.72% 22.34% N/A 83.12% N/A 5 years ended 4/30/98 N/A 16.34% N/A 113.09% N/A 10 years ended 4/30/98 N/A 15.14% N/A 309.57% N/A Life of Fund(4) 27.99% 16.33% 165.68% 588.02% 22.06%
(1) Effective November 2, 1998, the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. (2) Reflects voluntary waivers and payments of expenses in effect during the periods. In the absence of such waivers and payments, performance would have been affected negatively. (3) For the period beginning February 1, 1998 through December 31, 1998, the Distributor has elected voluntarily to waive 0.05% of the 0.30% 12b-1 Plan expenses otherwise payable by Class A Shares of Tax-Efficient Equity Fund. Such waiver has a favorable impact on Class A Shares. (4) Aggressive Growth Fund A Class commenced operations on May 16, 1994. Growth Stock Fund A Class commenced operations on August 1, 1985. Tax-Efficient Equity Fund A Class commenced operations on June 27, 1997.
Average Annual Total Return Cumulative Total Return --------------------------------- ------------------------------------------------------------ Aggressive Growth Growth Stock Aggressive Growth Growth Stock Tax-Efficient Equity Fund B Class Fund B Class Fund B Class Fund B Class Fund B Class (Including (Including (Including (Including (Including CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2)(3) ----------------- ----------- ------------------ ------------ -------------------- 3 months ended 4/30/98 N/A N/A 14.68% 1.12% 6.04% 6 months ended 4/30/98 N/A N/A 15.41% 11.48% 17.46% 9 months ended 4/30/98 N/A N/A 31.70% 8.17% 14.65% 1 year ended 4/30/98 92.12% 29.29% 92.12% 29.29% N/A
(1) Reflects voluntary waivers and payments of expenses in effect during the periods. In the absence of such waivers and reimbursements, performance would have been affected negatively. (2) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. (3) For the period June 27, 1997 (commencement of operations) through April 30, 1998 cumulative total return was 23.94% for Tax-Efficient Equity Fund B Class. Delaware Group Adviser Funds, Inc. Supplement to Statement of Additional Information dated February 28, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
Average Annual Total Return Cumulative Total Return --------------------------------------------------- ---------------------------------------------------- U.S. Growth Overseas Equity New Pacific U.S. Growth Overseas Equity New Pacific Fund A Class Fund A Class Fund A Class Fund A Class Fund A Class Fund A Class (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2) (At Offer)(1)(2) ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- 3 months ended 10/31/97 N/A N/A N/A (7.29%) (14.66%) (34.14%) 6 months ended 10/31/97 N/A N/A N/A 15.31% (1.73%) (28.61%) 9 months ended 10/31/97 N/A N/A N/A 12.96% 0% (29.58%) 1 year ended 10/31/97 25.55% 1.51% (25.65%) 25.55% 1.51% (25.65%) 3 years ended 10/31/97 19.34% 4.71% (11.27%) 69.95% 14.80% (30.15%) Life of Fund(3) 15.15% 6.20% (7.75%) 73.65% 26.52% (24.14%)
(1) Effective November 2, 1998 the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. Prior to May 6, 1996, the 12b-1 Plan fee payable by Class A Shares was 0.35% of average daily net assets. Beginning May 6, 1996, the 12b-1 Plan payments were set at 0.30%. Performance calculations for periods after May 6, 1996 have been calculated using the lower 12b-1 Plan fee rate. (2) Certain expenses of each Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (3) Each Fund's Class A Shares commenced operations on December 3, 1993.
Average Annual Total Return Cumulative Total Return -------------------------------------------------- ------------------------------------------------- U.S. Growth Overseas Equity New Pacific U.S. Growth Overseas Equity New Pacific Fund B Class Fund B Class Fund B Class Fund B Class Fund B Class Fund B Class (Including (Including (Including (Including (Including (Including CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2) ----------- --------------- ------------- ------------ --------------- ------------ 3 months ended 10/31/97 N/A N/A N/A (6.72%) (14.15%) (33.64%) 6 months ended 10/31/97 N/A N/A N/A 16.98% (1.13%) (28.27%) 9 months ended 10/31/97 N/A N/A N/A 14.30% 0.49% (29.27%) 1 year ended 10/31/97 27.30% 1.96% (25.58%) 27.30% 1.96% (25.58%)
(1) Certain expenses of each Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (2) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. Small Cap Value Fund Supplement to Statement of Additional Information dated February 3, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
Average Annual Total Return Cumulative Total Return Small Cap Value Fund A Class (At Small Cap Value Fund A Class (At Offer)(1) Offer)(1) -------------------------------- -------------------------------- 3 months ended 11/30/97 N/A (1.62%) 6 months ended 11/30/97 N/A 10.25% 9 months ended 11/30/97 N/A 18.83% 1 year ended 11/30/97 28.55% 28.55% 3 years ended 11/30/97 22.59% 84.25% 5 years ended 11/30/97 16.27% 112.48% 10 years ended 11/30/97 19.16% 477.26% Life of Fund(2) 15.95% 368.76%
(1) Effective November 2, 1998, the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. (2) Class A Shares commenced operation on June 24, 1987.
Average Annual Total Return Cumulative Total Return Small Cap Value Fund B Class Small Cap Value Fund B Class (Including CDSC)(1) (Including CDSC)(1) ---------------------------- ---------------------------- 3 months ended 11/30/97 N/A (0.83%) 6 months ended 11/30/97 N/A 11.54% 9 months ended 11/30/97 N/A 20.36% 1 year ended 11/30/97 30.36% 30.36%
(1) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. Trend Fund Supplement to Statement of Additional Information dated August 28, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
__________________________________________________________________________________________________________ Average Annual Total Return Cumulative Total Return Trend Fund A Class Trend Fund A Class (At Offer)(1)(2) (At Offer)(1)(2) __________________________________________________________________________________________________________ 3 months ended 6/30/98 N/A (5.89%) 6 months ended 6/30/98 N/A 3.40% 9 months ended 6/30/98 N/A (2.79%) 1 year ended 6/30/98 16.85% 16.85% 3 years ended 6/30/98 17.22% 61.06% 5 years ended 6/30/98 15.05% 101.62% 10 years ended 6/30/98 18.24% 433.98% 15 years ended 6/30/98 11.61% 419.25% Life of Fund(3) 9.55% 1,408.82% __________________________________________________________________________________________________________
(1) Effective November 2, 1998 the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. (2) Class A Shares began paying 12b-1 payments on June 1, 1992 and performance prior to that date does not reflect such payments. (3) Class A Shares commenced operations on October 3, 1968.
__________________________________________________________________________________________________________ Average Annual Total Return Cumulative Total Return Trend Fund B Class Trend Fund B Class (Including CDSC)(1) (Including CDSC)(1) __________________________________________________________________________________________________________ 3 months ended 6/30/98 N/A (5.37%) 6 months ended 6/30/98 N/A 4.31% 9 months ended 6/30/98 N/A (2.33%) 1 year ended 6/30/98 18.09% 18.09% __________________________________________________________________________________________________________
(1) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. Decatur Income Fund Decatur Total Return Fund Blue Chip Fund Social Awareness Fund Supplement to Statement of Additional Information dated January 30, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
Average Annual Total Return Cumulative Total Return -------------------------------------- ------------------------------------------------------------------------ Decatur Income Decatur Total Decatur Income Decatur Total Blue Chip Social Awareness Fund A Class Return Fund A Fund A Class Return Fund A Fund A Class Fund A Class (At Offer)(1)(4) Class (At Offer)(1) (At Offer)(1)(4) Class (At Offer)(1) (At Offer)(1)(2) (At Offer)(1)(2) ---------------- ------------------- ---------------- ------------------- ---------------- ---------------- 3 months ended 11/30/97 N/A N/A (1.94%) (2.03%) (0.20%) 2.28% 6 months ended 11/30/97 N/A N/A 5.07% 4.96% 6.49% 11.20% 9 months ended 11/30/97 N/A N/A 10.91% 11.47% 11.80% 17.52% 1 year ended 11/30/97 17.61% 18.11% 17.61% 18.11% N/A N/A 3 years ended 11/30/97 24.25% 25.72% 91.80% 98.71% N/A N/A 5 years ended 11/30/97 17.18% 17.91% 120.90% 127.90% N/A N/A 10 years ended 11/30/97 14.45% 16.21% 285.54% 349.18% N/A N/A 15 years ended 11/30/97 14.88% N/A 700.53% N/A N/A N/A Life of Fund(3) 12.45% 13.97% 11,771.42% 336.13% 9.20% 14.52%
(1) Effective November 2, 1998, the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. (2) Certain expenses of Blue Chip Fund and Social Awareness Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (3) Decatur Income Fund A Class commenced operations on March 18, 1957. Decatur Total Return Fund A Class commenced operations on August 27, 1986. Blue Chip Fund A Class commenced operations on February 24, 1997. Social Awareness Fund A Class commenced operations on February 24, 1997. (4) Performance figures reflect the applicable Rule 12b-1 distribution expenses that apply on and after May 2, 1994.
Average Annual Total Return Cumulative Total Return ----------------------------------- ------------------------------------------------------------------------- Decatur Income Decatur Total Decatur Income Decatur Total Blue Chip Social Fund B Class Return Fund B Fund B Class Return Fund B Fund B Class Awareness Fund (Including Class (Including (Including Class (Including (Including A B Class CDSC)(1) CDSC)(1) CDSC)(1) CDSC)(1) CDSC)(1)(2)(3) (Including CDSC)(1)(2)(4) -------------- ---------------- --------------- ---------------- -------------- -------------- 3 months ended 11/30/97 N/A N/A (1.19%) (1.28%) 0.72% 3.44% 6 months ended 11/30/97 N/A N/A 6.02% 5.95% 7.64% 12.49% 9 months ended 11/30/97 N/A N/A 12.03% 12.59% 13.07% 19.16% 1 year ended 11/30/97 18.73% 19.45% 18.73% 19.45% N/A N/A
(1) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. (2) Certain expenses of Blue Chip Fund and Social Awareness Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (3) Cumulative total return from February 24, 1997 (commencement of operations) through November 30, 1997 was 10.29% for Blue Chip Fund B Class. (4) Cumulative total return from February 24, 1997 (commencement of operations) through November 30, 1997 was 15.94% for Social Awareness Fund B Class. The Real Estate Investment Trust Portfolio REIT Fund A Class REIT Fund B Class Supplement to Statement of Additional Information dated August 31, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
Average Annual Total Return Cumulative Total Return REIT Fund A Class (At Offer)(1)(2) REIT Fund A Class (At Offer)(1)(2) ---------------------------------- ---------------------------------- 3 months ended 4/30/98 N/A (7.87%) 6 months ended 4/30/98 N/A (4.16%) 9 months ended 4/30/98 N/A 2.88% 1 year ended 4/30/98 18.43% 18.43% Life of Fund(3) 26.86% 77.07%
(1) Certain expenses of the Portfolio have been waived and paid by the investment adviser. In the absence of such waivers and payments, performance would have been affected negatively. (2) The total return presented above is based upon the performance of the original (and then only) class of shares offered by The Real Estate Investment Trust Portfolio, which did not carry a front-end sales charge and was not subject to Rule 12b-1 distribution expenses. That original class has been redesignated REIT Fund A Class. Effective October 14, 1997, a front-end sales charge was imposed on sales of those shares and effective November 3, 1997 the class was subject to annual 12b-1 distribution expenses of up to 0.30% of average daily net assets of the class. Performance numbers for REIT Fund A Class (At Offer) are calculated giving effect to the sales charge. For periods prior to November 3, 1997, no adjustment has been made to reflect the effect of 12b-1 payments. Performance on and after November 3, 1997 will be affected by 12b-1 payments. REIT Fund A Class is subject to other expenses (at a higher rate than applicable to the original class) which may affect performance of the Class. Beginning November 2, 1998, the front-end sales charge was increased from 4.75% to 5.75%. The performance numbers have been calculated to reflect 5.75% as the applicable sales charge for all periods. (3) Date of initial sale of the original class (now REIT Fund A Class) was December 6, 1995. Cumulative Total Return REIT Fund B Class (Including CDSC)(1)(2) ----------------------- 3 months ended 4/30/98 (7.38%) Life of Fund(3) (3.03%) (1) Certain expenses of the Portfolio have been waived and paid by the investment adviser. In the absence of such waivers and payments, performance would have been affected negatively. (2) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. (3) Class B Shares commenced operations on November 11, 1997. International Equity Fund Global Equity Fund Emerging Markets Fund Supplement to Statement of Additional Information dated February 4, 1998 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
Average Annual Total Return Cumulative Total Return ------------------------------------------------- -------------------------------------------------- International Emerging International Emerging Equity Fund A Global Equity Markets Fund Equity Fund A Global Equity Markets Fund Class (At Fund A Class A Class (At Class (At Fund A Class A Class (At Offer)(1)(2) (At Offer) Offer)(1)(2) Offer)(1)(2) (At Offer) Offer)(1)(2) (1)(2)(4) (1)(2)(4) ------------- ------------- ------------ -------------- ------------- ------------- 3 months ended 11/30/97 N/A N/A N/A (8.67%) (4.28%) (19.37%) 6 months ended 11/30/97 N/A N/A N/A (10.55%) (2.68%) (19.87%) 9 months ended 11/30/97 N/A N/A N/A (4.44%) 2.48% (16.12%) 1 year ended 11/30/97 (2.65%) 3.60% (2.76%) (2.65%) 3.60% (2.76%) 3 years ended 11/30/97 9.35% N/A N/A 30.75% N/A N/A 5 years ended 11/30/97 11.93% N/A N/A 75.72% N/A N/A Life of Fund(3) 9.04% 14.51% (2.07%) 69.41% 48.70% (3.04%)
(1) Effective November 2, 1998, the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. (2) Certain expenses of each Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (3) International Equity Fund A Class commenced operations on October 31, 1991. Global Equity Fund A Class (formerly known as Global Assets Fund A Class) commenced operations on December 27, 1994. Emerging Markets Fund A Class commenced operations on June 10, 1996. (4) During this period, Global Equity Fund was known as Global Assets Fund; the above performance does not reflect the shift in investment focus made effective July 21, 1998, the date on which the Fund's name was changed.
Average Annual Total Return Cumulative Total Return ------------------------------------------------ --------------------------------------------------- Emerging Emerging International Global Equity Market Fund International Global Equity Markets Fund Equity Fund B Fund B Class B Class Equity Fund B Fund B Class B Class Class (Including (Including (Including Class (Including (Including (Including CDSC)(1)(2) CDSC)(1)(2)(3) CDSC)(1)(2) CDSC)(1)(2) CDSC)(1)(2)(3) CDSC)(1)(2) ---------------- -------------- ----------- ---------------- -------------- ------------- 3 months ended 11/30/97 N/A N/A N/A (8.16%) (3.57%) (18.88%) 6 months ended 11/30/97 N/A N/A N/A (10.12%) (2.11%) (19.56%) 9 months ended 11/30/97 N/A N/A N/A (4.13%) 3.17% (15.97%) 1 year ended 11/30/97 (2.46%) 4.18% (2.52%) (2.46%) 4.18% (2.52%)
(1) Certain expenses of each Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (2) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. (3) During this period, Global Equity Fund was known as Global Assets Fund; the above performance does not reflect the shift in investment focus made effective July 21, 1998, the date on which the Fund's name was changed. Delaware Fund Devon Fund Supplement to Statement of Additional Information dated December 30, 1997 The following replaces all references to maximum front-end sales charge for Class A Shares and contingent deferred sales charges for Class B Shares: Beginning November 2, 1998, the maximum front-end sales charge for Class A Shares is 5.75%. Also beginning November 2, 1998, the contingent deferred sales charge for Class B Shares is as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The following replaces Average Annual Total Return and Cumulative Total Return for certain periods shown under Performance Information:
___________________________________________________________________________________________________________________________ Average Annual Total Return Cumulative Total Return ___________________________________________________________________________________________________________________________ Delaware Fund A Devon Fund A Delaware Fund A Devon Fund A Class (At Offer)(1)(5) Class (At Offer)(1)(2) Class (At Offer)(1)(5) Class (At Offer)(1)(2) ___________________________________________________________________________________________________________________________ 3 months ended 10/31/97 N/A N/A (6.57%) (7.12%) 6 months ended 10/31/97 N/A N/A 7.17% 11.30% 9 months ended 10/31/97 N/A N/A 7.72% 12.72% 1 year ended 10/31/97 15.02% 24.53% 15.02% 24.53% 3 years ended 10/31/97 15.78% 23.54% 55.21% 88.57% 5 years ended 10/31/97 12.08% N/A 76.85% N/A 10 years ended 10/31/97 13.51% N/A 255.09% N/A 15 years ended 10/31/97 12.66% N/A 498.16% N/A Life of Fund(3) 11.25% 20.70% 56,771.04% 106.00% ___________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________ Average Annual Total Return Cumulative Total Return __________________________________________________________________________________________________________________________ Delaware Fund B Devon Fund B Delaware Fund B Devon Fund B Class (Including Class (Including Class (Including Class (Including CDSC)(4) CDSC)(2)(4) CDSC)(4) CDSC)(2)(4) ___________________________________________________________________________________________________________________________ 3 months ended 10/31/97 N/A N/A (5.97%) (6.49%) 6 months ended 10/31/97 N/A N/A 8.24% 12.69% 9 months ended 10/31/97 N/A N/A 8.59% 13.99% 1 year ended 10/31/97 16.09% 26.21% 16.09% 26.21% ___________________________________________________________________________________________________________________________
(1) Effective November 2, 1998, the maximum front-end sales charge was increased from 4.75% to 5.75%. The above performance numbers have been calculated using 5.75% as the applicable sales charge for all time periods. (2) Certain expenses of Devon Fund have been waived and paid by the Manager. In the absence of such waivers and payments, performance would have been affected negatively. (3) Delaware Fund A Class commenced operations on April 25, 1938. Devon Fund A Class commenced operations on December 29, 1993. (4) Effective November 2, 1998, the CDSC schedule for Class B Shares changed as follows: 5% if shares are redeemed within one year after purchase; 4% if shares are redeemed within two years after purchase; 3% if shares are redeemed within the third or fourth year after purchase; 2% if shares are redeemed within the fifth year after purchase; 1% if shares are redeemed within the sixth year after purchase; and 0% thereafter. The above performance numbers have been calculated using this schedule for the time periods shown. (5) Delaware Fund A Class began paying 12b-1 payments on June 1, 1992 and performance prior to that date does not reflect such payments. -----END PRIVACY-ENHANCED MESSAGE-----