Delaware Retirement Income Fund
Supplement to Prospectus dated January 31, 2000
The following revises information in the section of the
Prospectus entitled "Portfolio managers" under "Who manages the
Fund":
Peter C. Andersen has primary responsibility for making day-to-
day investment decisions for Delaware Retirement Income Fund
regarding its investments in debt securities. In making
investment decisions for the Fund, Mr. Andersen regularly
consults with Jude T. Driscoll.
Peter C. Andersen, Vice President/Senior Portfolio Manager,
earned a master s degree in Finance from Harvard University,
where he was named a Seamans Fellow. He also holds a master s
degree in Physics from Yale University, and was named a Skinner
Fellow. Mr. Andersen received a bachelor s degree in
Mathematics/Physics from Northeastern, where he graduated summa
cum laude and ranked first in the Physics department. Prior to
joining Delaware Investments in 2000, Mr. Andersen was a
portfolio manager at Conseco Capital Management, where he managed
high-yield portfolios for both institutional and retail products.
Before that, he was a portfolio manager at Colonial Management
Associates and an investment analyst at the venture capital firm
MTDC. Mr. Andersen began his investment career at Arthur D.
Little, Inc., where he was a management consultant for the
financial services and venture capital practices. He is a CFA
charterholder. He has been participating in the management of
the Fund since September 18, 2000 and assumed primary
responsibility for making day-to-day investment decisions for the
Fund as described above on September 29, 2000.
Jude T. Driscoll, Executive Vice President/Head of Fixed-Income,
received a bachelor's degree in Economics from the University of
Pennsylvania. Prior to joining Delaware Investments in 2000, Mr.
Driscoll was Senior Vice President, Director of Fixed-Income
Process at Conseco Capital Management, where he managed bank
loan, high-yield and general insurance portfolios. He previously
held management positions at NationsBanc Montgomery Securities
and Goldman Sachs & Co.
