-----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, AD9cdXGjxQECabkOpYCwYydcLp03QEqRa2RjPN5KTY3DHiFCeOYbms3T4QRr/sZf Tq9Fv1ynWjJpM9FVxF8hUQ== 0001137439-10-000043.txt : 20100218 0001137439-10-000043.hdr.sgml : 20100218 20100218161946 ACCESSION NUMBER: 0001137439-10-000043 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100218 DATE AS OF CHANGE: 20100218 EFFECTIVENESS DATE: 20100218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS II CENTRAL INDEX KEY: 0000027574 IRS NUMBER: 232448660 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-13017 FILM NUMBER: 10616517 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS II INC DATE OF NAME CHANGE: 19970730 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS I CENTRAL INDEX KEY: 0000027801 IRS NUMBER: 261651457 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-10765 FILM NUMBER: 10616518 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS I INC DATE OF NAME CHANGE: 19970604 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 INCOME FUNDS CENTRAL INDEX KEY: 0000027825 IRS NUMBER: 232869117 FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-37707 FILM NUMBER: 10616510 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP INCOME FUNDS INC DATE OF NAME CHANGE: 19961202 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP DELCHESTER HIGH YIELD BOND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DELCHESTER BOND FUND INC DATE OF NAME CHANGE: 19880718 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS III CENTRAL INDEX KEY: 0000027937 IRS NUMBER: 510106828 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-28871 FILM NUMBER: 10616516 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS III INC DATE OF NAME CHANGE: 19970909 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: DELAWARE GROUP LIMITED-TERM GOVERNMENT FUNDS CENTRAL INDEX KEY: 0000357059 IRS NUMBER: 232448704 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-75526 FILM NUMBER: 10616509 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP LIMITED TERM GOVERNMENT FUNDS DATE OF NAME CHANGE: 19991223 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP LIMITED TERM GOVERNMENT FUNDS INC DATE OF NAME CHANGE: 19950828 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP TREASURY RESERVES INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP TAX FREE FUND CENTRAL INDEX KEY: 0000728352 IRS NUMBER: 232448684 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-86606 FILM NUMBER: 10616508 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP TAX FREE FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DMC TAX FREE INCOME USA INC DATE OF NAME CHANGE: 19890904 FORMER COMPANY: FORMER CONFORMED NAME: DMC TAX FREE BOND FUND INC DATE OF NAME CHANGE: 19831122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VOYAGEUR MUTUAL FUNDS III CENTRAL INDEX KEY: 0000763749 IRS NUMBER: 411777915 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-95928 FILM NUMBER: 10616506 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: VOYAGEUR MUTUAL FUNDS III /MN/ DATE OF NAME CHANGE: 20020625 FORMER COMPANY: FORMER CONFORMED NAME: VOYAGEUR MUTUAL FUNDS III INC /MN/ DATE OF NAME CHANGE: 19940318 FORMER COMPANY: FORMER CONFORMED NAME: VOYAGEUR GROWTH STOCK FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP GOVERNMENT FUND CENTRAL INDEX KEY: 0000769220 IRS NUMBER: 232448685 FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-97889 FILM NUMBER: 10616511 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP GOVERNMENT FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS IV CENTRAL INDEX KEY: 0000778108 IRS NUMBER: 232369628 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-00442 FILM NUMBER: 10616514 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS IV INC DATE OF NAME CHANGE: 19970128 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP DELCAP FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DELCAP FUND INC DATE OF NAME CHANGE: 19880929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS V CENTRAL INDEX KEY: 0000809821 IRS NUMBER: 232450217 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-11419 FILM NUMBER: 10616513 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP EQUITY FUNDS V INC DATE OF NAME CHANGE: 19970128 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 CENTRAL INDEX KEY: 0000875352 IRS NUMBER: 232651511 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-40991 FILM NUMBER: 10616504 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE POOLED TRUST INC DATE OF NAME CHANGE: 19920717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP GLOBAL & INTERNATIONAL FUNDS CENTRAL INDEX KEY: 0000875610 IRS NUMBER: 232651520 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-41034 FILM NUMBER: 10616512 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP GLOBAL & INTERNATIONAL FUNDS INC DATE OF NAME CHANGE: 19920717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VOYAGEUR MUTUAL FUNDS CENTRAL INDEX KEY: 0000906236 IRS NUMBER: 411720518 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-63238 FILM NUMBER: 10616507 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: VOYAGEUR MUTUAL FUNDS INC DATE OF NAME CHANGE: 19930714 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP ADVISER FUNDS CENTRAL INDEX KEY: 0000910682 IRS NUMBER: 521842569 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-67490 FILM NUMBER: 10616515 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: DELAWARE GROUP ADVISER FUNDS INC /MD/ DATE OF NAME CHANGE: 19961202 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELAWARE GROUP FOUNDATION FUNDS CENTRAL INDEX KEY: 0001048133 IRS NUMBER: 232943633 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-38801 FILM NUMBER: 10616505 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 18005231918 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 0000027574 S000002391 DELAWARE VALUE FUND C000006336 DELAWARE VALUE FUND INSTITUTIONAL CLASS DDVIX 0000027574 S000002392 DELAWARE LARGE CAP VALUE FUND C000006341 DELAWARE LARGE CAP VALUE FUND INSTITUTIONAL CLASS DEDIX 0000027801 S000020812 Delaware Mid Cap Value Fund C000058135 Institutional Class DLMIX 0000027825 S000003921 DELAWARE CORPORATE BOND FUND C000011005 INSTITUTIONAL CLASS DGCIX 0000027825 S000003923 DELAWARE EXTENDED DURATION BOND FUND C000011014 INSTITUTIONAL CLASS DEEIX 0000027825 S000003924 DELAWARE HIGH-YIELD OPPORTUNITIES FUND C000011019 INSTITUTIONAL CLASS DHOIX 0000027825 S000026275 Delaware Core Bond Fund C000079005 Institutional Class 0000027937 S000002394 DELAWARE AMERICAN SERVICES FUND C000006348 DELAWARE AMERICAN SERVICES FUND INSTITUTIONAL CLASS DASIX 0000027937 S000002395 DELAWARE SMALL CAP GROWTH FUND C000006353 DELAWARE SMALL CAP GROWTH FUND INSTITUTIONAL CLASS DSCIX 0000027937 S000002396 DELAWARE TREND FUND C000006358 DELAWARE TREND FUND INSTITUTIONAL CLASS DGTIX 0000357059 S000002397 DELAWARE LIMITED-TERM DIVERSIFIED INCOME FUND C000006363 DELAWARE LIMITED-TERM DIVERSIFIED INCOME FUND INSTITUTIONAL CLASS DTINX 0000728352 S000002403 DELAWARE TAX-FREE USA FUND C000074146 Institutional Class DTFIX 0000728352 S000002404 DELAWARE TAX-FREE USA INTERMEDIATE FUND C000074147 Institutional Class DUSIX 0000763749 S000003946 DELAWARE SELECT GROWTH FUND C000011059 INSTITUTIONAL CLASS VAGGX 0000763749 S000013156 Delaware Large Cap Core Fund C000035416 Delaware Large Cap Core Fund Institutional Class DDCIX 0000769220 S000003919 DELAWARE CORE PLUS BOND FUND C000010996 INSTITUTIONAL CLASS DUGIX 0000769220 S000003920 DELAWARE INFLATION PROTECTED BOND FUND C000011000 INSTITUTIONAL CLASS DIPIX 0000778108 S000003914 DELAWARE GROWTH OPPORTUNITIES FUND C000010974 INSTITUTIONAL CLASS DFDIX 0000778108 S000018872 Delaware Global Real Estate Securities Fund C000052256 Class I DLRIX 0000778108 S000018873 Delaware Healthcare Fund C000052260 Class I DLHIX 0000809821 S000002399 DELAWARE DIVIDEND INCOME FUND C000006372 DELAWARE DIVIDEND INCOME FUND INSTITUTIONAL CLASS DDIIX 0000809821 S000002400 DELAWARE SMALL CAP CORE FUND C000006376 DELAWARE SMALL CAP CORE FUND INSTITUTIONAL CLASS DCCIX 0000809821 S000002401 DELAWARE SMALL CAP VALUE FUND C000006381 DELAWARE SMALL CAP VALUE FUND INSTITUTIONAL CLASS DEVIX 0000875352 S000003937 DELAWARE REIT FUND C000011045 INSTITUTIONAL CLASS DPRSX 0000875610 S000003916 DELAWARE EMERGING MARKETS FUND C000010982 INSTITUTIONAL CLASS DEMIX 0000875610 S000003917 DELAWARE GLOBAL VALUE FUND C000010986 INSTITUTIONAL CLASS DABIX 0000875610 S000003918 DELAWARE INTERNATIONAL VALUE EQUITY FUND C000010991 INSTITUTIONAL CLASS DEQIX 0000875610 S000024716 DELAWARE FOCUS GLOBAL GROWTH FUND C000073409 Institutional Class DGGIX 0000875610 S000027634 Delaware Macquarie Global Infrastructure Fund C000083469 Institutional Class 0000906236 S000002413 DELAWARE NATIONAL HIGH-YIELD MUNICIPAL BOND FUND C000074152 Institutional Class DVHIX 0000910682 S000003911 DELAWARE DIVERSIFIED INCOME FUND C000010960 INSTITUTIONAL CLASS DPFFX 0000910682 S000003912 DELAWARE U.S. GROWTH FUND C000010965 INSTITUTIONAL CLASS DEUIX 0001048133 S000004196 DELAWARE MODERATE ALLOCATION PORTFOLIO C000011804 INSTITUTIONAL CLASS DFFIX 0001048133 S000004197 DELAWARE AGGRESSIVE ALLOCATION PORTFOLIO C000011809 INSTITUTIONAL CLASS DFGIX 0001048133 S000004198 DELAWARE CONSERVATIVE ALLOCATION PORTFOLIO C000011814 INSTITUTIONAL CLASS DFIIX 0001048133 S000026306 Delaware Foundation Equity Fund C000079067 Institutional Class 497 1 diffinstpro49702082010.htm diffinstpro49702082010.htm


Delaware Investments® Family of Funds

Supplement to the current Institutional Class Prospectuses for each Fund
(each, a “Fund” and together, the “Funds”)

The following replaces the information in the section entitled, “About your account – Investing in the Fund(s)” of the Funds’ prospectuses.

Investing in the Fund

Institutional Class shares are available for purchase only by the following:

·  
retirement plans introduced by persons not associated with brokers or dealers that are primarily engaged in the retail securities business and rollover IRAs from such plans;

·  
tax-exempt employee benefit plans of the Manager or its affiliates and of securities dealer firms with a selling agreement with Delaware Distributors, L.P. (Distributor);

·  
institutional advisory accounts (including mutual funds) managed by the Manager or its affiliates and clients of Delaware Investment Advisers, an affiliate of the Manager, as well as the clients’ affiliates, and their corporate sponsors, subsidiaries, related employee benefit plans, and rollover IRAs of, or from, such institutional advisory accounts;

·  
a bank, trust company, or similar financial institution investing for its own account or for the account of its trust customers for whom the financial institution is exercising investment discretion in purchasing shares of the Class, except where the investment is part of a program that requires payment to the financial institution of a Rule 12b-1 Plan fee;

·  
registered investment advisors (RIAs) investing on behalf of clients that consist solely of institutions and high net worth individuals having at least $1 million entrusted to an RIA for investment purposes. Use of the Institutional Class shares is restricted to RIAs who are not affiliated or associated with a broker or dealer and who derive compensation for their services exclusively from their advisory clients;

·  
certain plans qualified under Section 529 of the Internal Revenue Code of 1986, as amended (Code), for which the Fund’s Manager, Distributor, or service agent, or one or more of their affiliates provide record keeping, administrative, investment management, marketing, distribution, or similar services;

·  
programs sponsored by and/or controlled by financial intermediaries where: (1) such programs allow or require the purchase of Institutional Class shares; (2) the financial intermediary has entered into an agreement covering the arrangement with the Distributor and/or the Fund’s transfer agent; and (3) the financial intermediary (i) charges clients an ongoing fee for advisory, investment consulting or similar service, or (ii) offers the Institutional Class shares through a no-commission network or platform; or

·  
private investment vehicles, including, but not limited to, foundations and endowments purchasing shares directly from the Manager.


Please keep this supplement for future reference.

This Supplement is dated February 18, 2010.


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