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Delaware Investments® Dividend and Income Fund, Inc. Announces Portfolio Management Team
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Delaware Investments Dividend and Income Fund, Inc. (DDF) announced a new portfolio management team effective August 1, 2023, consisting of 10 members including Kristen E. Bartholdson and Adam H. Brown. The Fund's primary objective is high current income, with capital appreciation as a secondary goal, investing at least 65% of its assets in equity securities. It may also leverage up to 35% in high-yield debt securities. Macquarie Asset Management oversees the Fund, managing over $534 billion in assets globally.
Positive
New portfolio management team could enhance investment strategies.
Focus on high current income aligns with shareholder interests.
Negative
No assurance of achieving investment objectives; potential risks involved with high-yield debt investments.
PHILADELPHIA--(BUSINESS WIRE)--
Delaware Investments® Dividend and Income Fund, Inc. (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “DDF,” announced today that effective August 1, 2023, the members of the portfolio management team will consist of Kristen E. Bartholdson, Adam H. Brown, Chris Gowlland, Erin Ksenak, Nikhil G. Lalvani, Benjamin Leung, Stefan Löwenthal, John P. McCarthy, Scot Thompson, Michael G. Wildstein, and Jürgen Wurzer.
The Fund is a diversified closed-end fund. The primary investment objective is to seek high current income; capital appreciation is a secondary objective. The Fund seeks to achieve its objectives by investing, under normal circumstances, at least 65% of its total assets in income-generating equity securities, including dividend-paying common stocks, convertible securities, preferred stocks, and other equity-related securities, which may include up to 25% in real estate investment trusts (REITs) and real estate industry operating companies. Up to 35% of the Fund's total assets may be invested in nonconvertible debt securities consisting primarily of high-yield, high-risk corporate bonds. In addition, the Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There is no assurance that the Fund will achieve its investment objectives.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US534 billion in assets globally,1 we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments & renewables, real estate, agriculture & natural assets, asset finance, private credit, equities, fixed income and multi asset solutions.
Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment advisor. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs approximately 18,000 people in 33 markets and is listed on the Australian Securities Exchange. For more information about Delaware Fundsby Macquarie®, visit delawarefunds.com or call 800 523-1918.
Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this material is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
