Today, Delaware Investments Colorado Municipal Income Fund, Inc.,
Delaware Investments National Municipal Income Fund, and Delaware
Investments Minnesota Municipal Income Fund II, Inc. (collectively, the
“Funds”) announced a change to their investment policies regarding swap
counterparties. Effective immediately, the Funds will not be permitted
to enter into any swap transaction unless, at the time of entering into
such transaction, the unsecured long-term debt of the actual
counterparty, combined with any credit enhancements, is rated at least
BBB- by S&P or Baa3 by Moody’s or is determined to be of equivalent
credit quality by the Manager.
The investment objective of Delaware Investments Colorado Municipal
Income Fund, Inc. and Delaware Investments Minnesota Municipal Income
Fund II, Inc. is to provide current income exempt from federal income
tax and from the personal income tax of its state, if any, consistent
with the preservation of capital. The investment objective of Delaware
Investments National Municipal Income Fund is to provide current income
exempt from regular federal income tax consistent with the preservation
of capital. In addition, each Fund has the ability to utilize leveraging
techniques in an attempt to obtain a higher return for the Fund.
Currently, each Fund has outstanding a series of variable rate preferred
shares as leverage.
About Delaware Investments
Delaware Investments, a member of Macquarie Group, is a global asset
management firm that offers a wide variety of equity and fixed income
solutions for individual and institutional investors. Through teams of
disciplined and talented investment professionals, the firm is committed
to delivering long-term, consistent performance. In an ever-changing
global marketplace, Delaware Investments, with more than US $170 billion
in assets under management as of March 31, 2012, has helped its clients
move steadily forward for more than 80 years. Delaware Investments is
supported by the resources of Macquarie Group (ASX: MQG; ADR: MQBKY), a
global provider of asset management, investment, banking, financial and
advisory services with approximately US $339 billion in assets under
management as of March 31, 2012.
Delaware Investments is the marketing name for Delaware Management
Holdings, Inc. and its subsidiaries. Advisory services provided by
Delaware Management Business Trust, a registered investment advisor.
Macquarie Group refers to Macquarie Group Limited and its subsidiaries
and affiliates worldwide. For more information about Delaware
Investments, visit www.delawareinvestments.com
or call 800 523-1918.
Investments in the Funds are not and will not be deposits with or
liabilities of Macquarie Bank Limited ABN 46 008 583 542 and its holding
companies, including their subsidiaries or related companies (the
"Macquarie Group"), and are subject to investment risk, including
possible delays in repayment and loss of income and capital invested. No
Macquarie Group company guarantees or will guarantee the performance of
the Funds, the repayment of capital from the Funds, or any particular
rate of return.
© 2012 Delaware Management Holdings, Inc.