Mutual Fund Summary Prospectus (497k)
November 01 2013 - 3:18PM
Edgar (US Regulatory)
DELAWARE
GROUP
®
TAX-FREE FUND
Delaware Tax-Free USA
Intermediate Fund (the Fund)
Supplement to the Funds Class
A, Class B, Class C, and Institutional Class
Summary Prospectus dated
December 28, 2012
The following replaces the
information in the section entitled, What are the Funds fees and expenses?.
What are the Funds fees and
expenses?
The following table describes the
fees and expenses that you may pay if you buy and hold shares of the Fund. You
may qualify for sales-charge discounts if you and your family invest, or agree
to invest in the future, at least $100,000 in Delaware Investments
®
Funds. More information about these and other discounts is available from your
financial advisor, in the Funds prospectus under the section entitled About
your account, and in the Funds statement of additional information under the
section entitled Purchasing shares.
Shareholder fees (fees paid directly
from your investment)
Class
|
|
A
|
|
B
|
|
C
|
|
Inst.
|
Maximum sales charge (load) imposed on purchases as
a
|
|
|
|
|
|
|
|
|
percentage of offering price
|
|
2.75%
|
|
none
|
|
none
|
|
none
|
Maximum contingent deferred
sales charge (load) as a percentage
|
|
|
|
|
|
|
|
|
of original purchase price or
redemption price, whichever is lower
|
|
none
|
|
2.00%
1
|
|
1.00%
|
|
none
|
Annual fund operating expenses
(expenses that you pay each year as a percentage of the value of your
investment)
Class
|
A
|
|
B
|
|
C
|
|
Inst.
|
Management fees
|
0.49%
|
|
0.49%
|
|
0.49%
|
|
0.49%
|
Distribution and
service (12b-1) fees
|
0.25%
|
|
1.00%
|
|
1.00%
|
|
none
|
Other expenses
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
Total annual
fund operating expenses
|
0.92%
|
|
1.67%
|
|
1.67%
|
|
0.67%
|
Fee waivers and expense
reimbursements
|
(0.17%)
2
|
|
(0.92%)
2
|
|
(0.07%)
2
|
|
(0.07%)
2
|
Total annual
fund operating expenses after fee waivers and
|
|
|
|
|
|
|
|
expense
reimbursements
|
0.75%
|
|
0.75%
|
|
1.60%
|
|
0.60%
|
1
|
|
If you redeem Class B shares
during the first year after you bought them, you will pay a contingent
deferred sales charge (CDSC) of 2.00%, which declines to 1.00% during the
second and third years, and 0% thereafter. Class C shares redeemed within
one year of purchase are subject to a 1.00% CDSC.
|
|
|
|
2
|
|
The Funds investment manager,
Delaware Management Company (Manager), has contractually agreed to waive
all or a portion of its investment advisory fees and/or pay/reimburse
expenses (excluding any 12b-1 plan, taxes, interest, inverse floater
program expenses, short sale and dividend interest expenses, brokerage
fees, certain insurance costs, acquired fund fees and expenses, and
nonroutine expenses or costs, including, but not limited to, those
relating to reorganizations, litigation, conducting shareholder meetings,
and liquidations) in order to prevent annual fund operating expenses from
exceeding, in an aggregate amount, 0.60% of the Funds average daily net
assets from December 28, 2012 through December 27, 2013. The Funds
distributor, Delaware Distributors, L.P. (Distributor), has contracted to
limit the Funds Class B shares 12b-1 fee to no more than 0.15% of
average daily net assets from March 1, 2013 through February 28, 2014.
These waivers and reimbursements may only be terminated by agreement of
the Manager and the Distributor, as applicable, and the Fund.
|
Example
This example is intended to help you
compare the cost of investing in the Fund with the cost of investing in other
mutual funds. The example assumes that you invest $10,000 in the Fund for the
time periods indicated and then redeem all of your shares at the end of those
periods. The example also assumes that your investment has a 5% return each year
and reflects the applicable expense waivers and reimbursements for the 1-year
contractual period and the total operating expenses without waivers for
years 2 through 10. Although your actual
costs may be higher or lower, based on these assumptions your costs would be:
|
(if
not
|
|
(if
not
|
|
|
|
|
|
redeemed)
|
|
redeemed)
|
|
|
|
|
Class
|
|
A
|
|
B
|
|
B
|
|
C
|
|
C
|
|
Inst.
|
1 year
|
|
$349
|
|
$77
|
|
$277
|
|
$163
|
|
$263
|
|
$61
|
3 years
|
|
$544
|
|
$436
|
|
$536
|
|
$520
|
|
$520
|
|
$207
|
5
years
|
|
$754
|
|
$821
|
|
$821
|
|
$901
|
|
$901
|
|
$366
|
10 years
|
|
$1,360
|
|
$1,426
|
|
$1,426
|
|
$1,970
|
|
$1,970
|
|
$828
|
Investments in the Fund are not
and will not be deposits with or liabilities of Macquarie Bank Limited ABN 46
008 583 542 and its holding companies, including their subsidiaries or related
companies (the Macquarie Group), and are subject to investment risk, including
possible delays in repayment and loss of income and capital invested. No
Macquarie Group company guarantees or will guarantee the performance of the
Fund, the repayment of capital from the Fund, or any particular rate of
return.
Please keep this Supplement
for future reference.
This Supplement is dated November
1, 2013.
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