Optimum Small-Mid Cap Growth Fund

Key features

  • The objective of Optimum Small-Mid Cap Growth Fund is to seek long-term growth of capital.
  • Columbus Circle targets small- to mid-sized businesses providing new technologies, products or services and that it believes are poised to exceed investor expectations.
  • Peregrine focuses its research on companies experiencing high growth and significant fundamental change.
Fund information
Inception date08/01/2003
Dividends paid (if any)Annually
Capital gains paid (if any)December
Fund identifiers
NASDAQOASGX
CUSIP246118822
Investment minimums
Initial investment$1,000
Subsequent Investments$100
Account features
Payroll DeductionNo
IRAsYes

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.

Average annual total return

as of month-end (08/31/2018)

as of quarter-end (06/30/2018)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)24.50%37.82%15.93%12.68%10.08%9.36%08/01/2003
Max offer price17.31%29.86%13.65%11.35%9.44%8.94%
Russell 2500 Growth Index17.50%30.18%16.34%14.63%12.17%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)7.93%26.97%9.52%11.41%9.10%8.74%08/01/2003
Max offer price1.70%19.68%7.38%10.10%8.45%8.31%
Russell 2500 Growth Index5.53%21.53%10.86%13.87%11.38%n/a

Returns for less than one year are not annualized.

Class A shares have a maximum up-front sales charge of 5.75% and are subject to an annual distribution fee.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Expense ratio
Gross1.63%
Net1.54%

Net expense ratio reflects a contractual waiver from certain fees and/or expense reimbursements from July 27, 2018 to July 29, 2019. Please see the fee table in the Fund’s prospectus for more information.

Performance characteristics - as of 08/31/2018
Annualized standard deviation, 3 years (view definition)13.71
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20184.38%7.93%n/an/an/a
20179.01%3.61%5.29%7.04%27.29%
2016-7.98%2.92%7.45%0.83%2.61%
20154.35%1.30%-12.65%2.23%-5.61%
2014-0.57%3.25%-4.83%6.24%3.80%
201312.29%2.74%10.79%7.48%37.37%
201216.59%-5.41%4.29%1.56%16.81%
20119.88%0.79%-21.76%9.13%-5.44%
20107.31%-11.12%10.49%15.52%21.75%
2009-11.52%18.93%22.01%5.91%35.99%
2008-18.44%2.66%-8.12%-28.20%-44.76%

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

Investment manager

Delaware Management Company

Sub-advisors

Columbus Circle Investors (CCI)

Clifford G. Fox, CFA

Senior Managing Director, Portfolio Manager

Start date on the Fund: April 2016

Clifford G. Fox shares primary responsibility for the day-to-day management of CCI’s share of the Fund’s assets. He has been a senior managing director at CCI since 2000. Fox has served as a portfolio manager of CCI’s small-cap portfolios since June 2002, mid-cap portfolios since April 1999 and SMID portfolios since October 2003.

Michael Iacono, CFA

Senior Managing Director, Portfolio Manager, Mid Cap

Start date on the Fund: April 2016

Michael Iacono shares primary responsibility for the day-to-day management of CCI’s share of the Fund’s assets. He has been a managing director at CCI since 2001. Iacono has served as a co-portfolio manager of CCI’s mid-cap portfolios since March 2014, and its SMID and small-cap portfolios since 2013.

Christopher Corbett, CFA

Senior Vice President, Co-Portfolio Manager

Start date on the Fund: July 2017

Christopher Corbett shares primary responsibility for the day-to-day management of CCI’s share of the Fund’s assets. He has served as a co-portfolio manager of CCI's small-cap, mid-cap, and SMID portfolios since March 2017.

Peregrine Capital Management, LLC (Peregrine)

William A. Grierson, CFA

Principal, Portfolio Manager

Start date on the Fund: April 2016

William A. Grierson shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s assets. He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Grierson joined Peregrine’s small-cap growth team in 2000 as a securities analyst. Prior to Peregrine, he was a senior research analyst & portfolio manager with Kopp Investment Advisors for more than six years. Previously, he worked as a reporting analyst for Northern Trust. He graduated from Lawrence University in 1992. Grierson is a member of the CFA Society of Minnesota and the CFA Institute.

Daniel J. Hagen, CFA

Principal, Portfolio Manager

Start date on the Fund: April 2016

Daniel J. Hagen shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s assets. He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Hagen joined Peregrine’s small-cap growth team in 1996 as a research analyst. Prior to Peregrine, he was a managing director and assistant manager for the Equity Strategy Group at Piper Jaffray. He joined Piper Jaffray as a statistical analyst in 1983, upon graduating from the University of Minnesota. Hagen is a member of the CFA Society of Minnesota and the CFA Institute and a past board member of the Piper Jaffray Foundation. He regularly shares his financial expertise with a number of nonprofit organizations.

James P. Ross, CFA

Principal, Portfolio Manager

Start date on the Fund: April 2016

James P. Ross shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s assets. He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. He joined Peregrine’s small-cap growth team in 1996 as a senior portfolio advisor. Before coming to Peregrine, Ross spent six years at Norwest Investment Management (now Wells Capital Management), where he held various positions, including chief investment officer and product manager for the Norwest Advantage Funds. He was also responsible for the analysis and oversight of the corporation’s benefit plans. He started his career working as a treasury analyst at Ecolab, Inc. He holds a BBA and an MBA from the University of Iowa and is a member of the CFA Society of Minnesota and the CFA Institute.

Paul E. von Kuster, CFA

Principal, Portfolio Manager

Start date on the Fund: April 2016

Mr. von Kuster shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s assets. He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. He has been with the firm since its inception in 1984. Prior to Peregrine, Mr. von Kuster managed small-cap funds for the Trust Department at Norwest Bank Minnesota, N.A. (now Wells Fargo Bank Minnesota, N.A.). He began his career with Norwest Bank Minnesota, N.A. in 1972 after graduating from Princeton. Mr. von Kuster is a member of the CFA Society of Minnesota and the CFA Institute.

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $75,000 in Optimum Funds. More information about these and other discounts is available from your financial intermediary, in the Fund's Prospectus under the section entitled "About your account," and in the Fund's statement of additional information (SAI) under the section entitled "Purchasing Shares."

The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering price5.75%
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees1.05%
Distribution and service (12b-1) fees0.25%
Other expenses0.33%
Total annual fund operating expenses1.63%
Fee waivers and expense reimbursements(0.09%)
Total annual fund operating expenses after fee waivers1.54%

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

1The Fund’s 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 fees, acquired fund fees and expenses, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 1.29% of the Fund’s average daily net assets from July 27, 2018 through July 29, 2019. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

The chart below lists the percentage of the Fund's total assets under management that each sub-advisor manages on behalf of the Fund. The percentages include securities, cash, and any other assets managed by each sub-advisor in its sleeve of the Fund. These percentage allocations should be updated some time after 30 days following a given month end.

   

Date Columbus Circle Investors Delaware Management Company Peregrine Total
08/31/2017 51.41% 1.06% 47.54% 100%
09/30/2017 50.88% 1.01% 48.11% 100%
10/31/2017 51.79% 1.08% 47.13% 100%
11/30/2017 51.87% 1.09% 47.05% 100%
12/31/2017 51.83% 1.00% 47.16% 100%
01/31/2018 51.77% 0.93% 47.30% 100%
02/28/2018 51.82% 0.98% 47.21% 100%
03/29/2018 51.81% 1.08% 47.12% 100%
04/30/2018 51.71% 1.19% 47.11% 100%
05/31/2018 51.63% 1.23% 47.14% 100%
06/30/2018 51.36% 1.33% 47.31% 100%
07/31/2018 51.41% 1.24%  47.35%  100% 

Total may not equal 100% due to rounding.

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.

All third-party marks cited are the property of their respective owners.

Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund’s prospectus, which may be obtained by visiting optimummutualfunds.com/literature or calling 800 914-0278. Investors should read the prospectus and, if available, the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Daily pricing (as of 09/21/2018)

Class APriceNet change
NAV$18.17-0.09
Max offer price$19.28n/a

Total net assets (as of 08/31/2018)

$572.8 million all share classes

Lipper ranking (as of 08/31/2018)

YTD ranking26 / 383
1 year22 / 377
3 years126 / 346
5 years199 / 313
10 years136 / 222
Lipper classificationMid-Cap Growth Funds

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Holdings

Benchmark, peer group

Russell 2500 Growth Index (view definition)

Lipper Small-Cap Growth Funds Average (view definition)

Additional information

On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.