Key features
- The objective of Optimum Small-Mid Cap Value Fund is to seek long-term growth of capital.
- LSV uses a quantitative investment model to make investment decisions by ranking securities based on fundamental measures of value and indicators of near-term appreciation potential.
- Westwood utilizes a value style of investing to choose common stocks that it believes have limited downside risk and it believes are currently undervalued in the market.
| Fund identifiers |
|---|
| NASDAQ | OASVX |
| CUSIP | 246118772 |
| Investment minimums |
|---|
| Initial investment | $1,000 |
| Subsequent investments | $100 |
| Account features |
|---|
| Payroll deduction | No |
| IRAs | Yes |
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 (12/31/2019)
as of quarter-end (12/31/2019)
| YTD | 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date |
|---|
| NAV (view definition) | 24.31% | 24.31% | 4.30% | 3.59% | 8.30% | 7.15% | 08/01/2003 |
| Max offer price | 17.15% | 17.15% | 2.27% | 2.37% | 7.66% | 6.76% | |
| Russell 2500 Value Index | 23.56% | 23.56% | 6.12% | 7.18% | 11.25% | n/a | |
| | 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date |
|---|
| NAV (view definition) | 7.40% | 24.31% | 4.30% | 3.59% | 8.30% | 7.15% | 08/01/2003 |
| Max offer price | 1.25% | 17.15% | 2.27% | 2.37% | 7.66% | 6.76% | |
| Russell 2500 Value Index | 7.07% | 23.56% | 6.12% | 7.18% | 11.25% | n/a | |
Returns for less than one year are not annualized.
Performance at NAV assumes that no front-end sales charge applied. Performance at max offer price assumes that a front-end sales charge applied.
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 |
|---|
| Gross | 1.54% |
| Net | 1.47% |
Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from July 29, 2019 to July 29, 2020. Please see the fee table in the Fund’s prospectus for more information.
| Quarterly total returns @ NAV |
|---|
| Year | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | Annual return |
|---|
| 2019 | 12.41% | 1.98% | 0.97% | 7.40% | 24.31% |
| 2018 | -2.57% | 2.42% | 2.07% | -18.16% | -16.65% |
| 2017 | 2.00% | 0.29% | 3.26% | 3.66% | 9.49% |
| 2016 | 0.61% | 1.56% | 4.95% | 10.23% | 18.21% |
| 2015 | 1.64% | -0.22% | -13.08% | 0.90% | -11.06% |
| 2014 | 1.22% | 2.46% | -6.92% | 2.45% | -1.10% |
| 2013 | 10.18% | 1.67% | 9.45% | 8.18% | 32.64% |
| 2012 | 13.63% | -7.82% | 5.71% | 5.46% | 16.77% |
| 2011 | 9.37% | -2.54% | -22.38% | 17.50% | -2.78% |
| 2010 | 9.10% | -10.72% | 11.57% | 14.96% | 24.92% |
| 2009 | -13.39% | 25.13% | 22.89% | 5.49% | 40.49% |
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
Investment manager
Delaware Management Company
Sub-advisors
LSV Asset Management
Josef Lakonishok, Ph.D.
Founding Partner, Portfolio Manager, CEO, CIO
Start date on the Fund: January 2016
Josef Lakonishok shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. Dr. Lakonishok has served as CEO, CIO, partner and portfolio manager for LSV since its founding in 1994.
Menno Vermeulen, CFA
Partner, Portfolio Manager
Start date on the Fund: January 2016
Menno Vermeulen shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. Vermeulen has served as a portfolio manager for LSV since 1995 and a partner since 1998. Prior to joining LSV, he worked at ABP where he was responsible for the development and implementation of quantitative active investment strategies.
Puneet Mansharamani, CFA
Partner, Portfolio Manager
Start date on the Fund: January 2016
Puneet Mansharamani shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. He has served as a partner and portfolio manager for LSV since 2006. Prior to joining LSV, Mansharamani was an analyst at Institutional Trust National City Corporation. Prior to this experience, he was a systems consultant for Maximations, Inc.
Greg Sleight
Partner, Portfolio Manager
Start date on the Fund: January 2016
Greg Sleight shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. He has served as a quantitative analyst of LSV since 2006, a partner since 2012 and portfolio manager since 2014 and is part of LSV's quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of LSV's models and systems.
Guy Lakonishok, CFA
Partner, Portfolio Manager
Start date on the Fund: January 2016
Guy Lakonishok shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. Lakonishok has served as a quantitative analyst of LSV since 2009, a partner since 2013 and a portfolio manager since 2014. Prior to joining LSV, he was a vice president in the quantitative equity group at BlackRock.
Westwood Management Corp.
Prashant Inamdar, CFA
Senior Vice President, Portfolio Manager, Research Analyst
Start date on the Fund: December 2013
Prashant Inamdar is part of a team of portfolio managers primarily responsible for the day-to-day management of Westwood’s share of the Fund’s assets. All of the portfolio team members participate in the investment decision process when determining the stock selection for the portfolio and the appropriate weight of the stocks selected. Inamdar is a vice president and portfolio manager who joined Westwood in December 2013. Prior to joining Westwood, Inamdar worked at Chilton Investment Company as vice president of research from 2010 to 2012. Most recently, he served as senior analyst at 3 Twelve Capital from 2012 to 2013. Inamdar has held his Fund responsibilities since December 2013.
Grant Taber, CFA
Senior Vice President, Portfolio Manager, Research Analyst
Start date on the Fund: December 2008
Grant Taber is part of a team of portfolio managers primarily responsible for the day-to-day management of Westwood’s share of the Fund’s assets. All of the portfolio team members participate in the investment decision process when determining the stock selection for the portfolio and the appropriate weight of the stocks selected. Taber is a senior vice president and portfolio manager who joined Westwood in 2008. Prior to joining Westwood, Taber worked at Bessemer Trust Company from 2004 until 2008, where he served as vice president, large cap research analyst. He has held his Fund responsibilities since December 2008.
Bill Costello, CFA
Senior Vice President, Portfolio Manager, Research Analyst
Start date on the Fund: September 2018
Bill Costello is part of a team of portfolio managers primarily responsible for the day-to-day management of Westwood’s share of the Fund’s assets. All of the portfolio team members participate in the investment decision process when determining the stock selection for the portfolio and the appropriate weight of the stocks selected. Costello is a senior vice president and portfolio manager who joined Westwood in 2010. Prior to joining Westwood, Costello was a portfolio manager and director of research at the Boston Company, where he worked from 1997 to 2009, and he worked at Delphi Management as a generalist equity analyst from 1992 until 1997. He has held his Fund responsibilities since September 2018.
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 price | 5.75% |
| Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower | none |
| Annual fund operating expenses |
|---|
| Management fees | 0.95% |
| Distribution and service (12b-1) fees | 0.25% |
| Other expenses | 0.34% |
| Total annual fund operating expenses | 1.54% |
| Fee waivers and expense reimbursements | (0.07%) |
| Total annual fund operating expenses after fee waivers and expense reimbursements | 1.47% |
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
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 | LSV Asset Management | Westwood Management Corporation | Total |
|---|
| 12/31/2018 | 51.24% | 48.76% | 100% |
| 01/31/2019 | 51.85% | 48.15% | 100% |
| 02/28/2019 | 51.78% | 48.22% | 100% |
| 03/31/2019 | 51.03% | 48.97% | 100% |
| 04/30/2019 | 51.05% | 48.95% | 100% |
| 05/31/2019 | 49.81% | 50.19% | 100% |
| 06/30/2019 | 50.11% | 49.89% | 100% |
| 07/31/2019 | 49.95% | 50.05% | 100% |
| 08/31/2019 | 48.73% | 51.27% | 100% |
| 09/30/2019 | 49.74% | 50.26% | 100% |
| 10/31/2019 | 49.85% | 50.15% | 100% |
| 11/30/2019 | 49.89% | 50.11% | 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.
Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.
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.