FIIQX — Delaware International Fund
Data updated: 2021-08-30
FIIQX — Delaware International Fund. Global (incl. US) Blend / Core Equity · $297.46M AUM · 1.09% expense ratio. Holdings, fees, performance and SEC filings.
FIIQX Fund Overview
FIIQX — Delaware International Fund is a US mutual fund managed by Delaware Group Equity Funds IV, categorised as Global (incl. US) Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Delaware Group Equity Funds IV
- Category: Global (incl. US) Blend / Core Equity
- Assets under management: $297.46M
- 1-year return: 28.1%
- Ticker: FIIQX
- SEC CIK: 0000778108
- SEC series ID: S000065914
- Share class ID: C000212925
FIIQX Investment Objective and Strategy
Delaware International Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Delaware Group Equity Funds IV.
Investment objective
Delaware International Fund seeks long-term capital growth.
Principal investment strategy
The Fund primarily invests in a portfolio of common stocks and other equity securities of companies that are located outside of the United States. To a limited degree, the Fund may also invest in companies based in the United States. The Fund may rely on the country where the issuer is incorporated, is headquartered or has its principal place of business in determining the location of an issuer. Additionally, in pursuing its investment strategies, the Fund may hold significant investments (25% or more of its assets) in a specific market sector, including the consumer staples sector. The Fund is a nondiversified fund. The investment process is bottom-up, research-driven. The aim is to produce attractive risk-adjusted long-term returns by investing in understandable, quality businesses with mispriced earnings power.
Mispricings occur when shorter term market fluctuations lead to a discount between a stock's price and its fair value which is derived from such factors as the long term sales and future earnings potential of a business. Stock selection rests on an assessment of each company and its risk-return profile. Sustainability is defined as the Fund's ability to generate profits over the long term that also from time to time have the ability to redeploy part of earnings and reinvest into future advantageous areas of the business. Research is centered on understanding the nature and sustainability of how the company creates value, including the associated risks. Businesses identified as attractive are likely to display one or more of these favorable characteristics: solid earnings power and free cash flow generation, sustainable business models and competitive advantages, ability to reinvest at rates above the cost of capital, flexibility to restructure inefficiencies, potential to benefit from consolidation within their industries, and ability to gain market share from competitors.
An estimate for long-term earnings power is derived in order to calculate the fair value of a company. Fair value is defined as the estimated worth of a company based upon the company's earning potential and other variables. To compensate for unpredictable risks, the team aims to invest in companies that can be bought within an adequate safety margin to the estimated fair value. The portfolio managers strive to purchase stocks at a discount to what they deem to be fair value. The discount effectively provides a cushion to absorb potential stock price depreciation due to such factors as unexpected negative shifts in currency values and/or economic instability and negative shifts in company earnings. Screening is a method used for idea generation. A typical screen may exclude stocks under a certain market cap and then applying numerous valuation, quality and growth metrics as hurdles that would effectively reduce the universe further.
Survivors would become candidates for fundamental research whereas in-depth analysis occurs to ultimately determine the attractiveness of a stock for potential portfolio admission. The Funds investment manager, Delaware Management Company (Manager), may permit its affiliates, Macquarie Investment Management Global Limited (MIMGL) and Macquarie Fund Management Hong Kong Limited, to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.
FIIQX Performance
Total returns for FIIQX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 28.1% |
FIIQX Risk Information
Risk metrics for FIIQX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.6%
FIIQX Costs and Fees
FIIQX costs about $109 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.09%
- Gross expense ratio: 1.11%
- Portfolio turnover: 127%
- Brokerage commissions: 8.03 bps of average net assets (SEC N-CEN)
FIIQX Cashflows
Over the 12 months to 2021-06, Delaware International Fund had net inflows of $161.27M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-06 | $9.68M |
| 2021-05 | $11.79M |
| 2021-04 | $10.38M |
| 2021-03 | $18.76M |
| 2021-02 | $11.99M |
| 2021-01 | $12.04M |
FIIQX Debt Constituents
No individual debt constituents are reported in Delaware International Fund's latest SEC N-PORT filing.
FIIQX Prospectus and SEC Filings
Official Delaware International Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-01-28
- Prospectus (485BPOS) — filed 2020-02-12
- Prospectus supplement (497) — filed 2020-02-18
- Portfolio holdings (N-PORT) — filed 2021-08-30
- Portfolio holdings (N-PORT) — filed 2021-05-20
- Portfolio holdings (N-PORT) — filed 2021-03-01
- Annual census (N-CEN) — filed 2020-12-03
Related Funds
Other Global (incl. US) Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.