SUPPLEMENT
[GRAPHIC OMITTED]
Supplement dated June 12, 1996 to Prospectus dated September 1, 1995
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VOYAGEUR GROWTH AND INCOME FUND
VOYAGEUR GROWTH STOCK FUND
VOYAGEUR INTERNATIONAL EQUITY FUND
VOYAGEUR AGGRESSIVE GROWTH FUND
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The Prospectus dated September 1, 1995 is hereby amended to notify investors
that on May 14, 1996 the Board of Directors of Voyageur International Equity
Fund approved replacing Murray Johnstone International, Ltd. as sub-adviser to
the Voyageur International Equity Fund with Voyageur International Asset
Managers Ltd. ("Voyageur International"), Edinburgh, Scotland, an affiliate of
Voyageur Fund Managers, Inc., the Fund's investment adviser. Murray Johnstone
will continue to act as the Fund's sub-adviser until such time as sub-advisory
arrangements with Voyageur International are approved by Fund shareholders at a
meeting to be called by the Board of Directors.
