Nomura National Hi-Yld Muni Bd Instl (Delaware High Yield Municipal B) Fonds

Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal securities the income from which is exempt from federal income tax. It will invest primarily in lower-rated municipal securities, which typically offer higher income potential and involve greater risk than higher-quality securities.