DECEMBER 28, 2000
DELAWARE POOLED TRUST
THE BALANCED PORTFOLIO
SUPPLEMENT TO THE PROSPECTUS AS REVISED OCTOBER 3, 2000
The Prospectus is hereby amended and supplemented to reflect the
following changes to the investment strategy of The Balanced
Portfolio of Delaware Pooled Trust.
The following replaces the last sentence in the third
paragraph under "What are the Portfolio's main investment
strategies?" on page 1 of the Prospectus.
Each bond in the portfolio will typically have a maturity between
one and 30 years, and the average maturity of the portfolio will
typically be between one and ten years.
The following replaces the description of "Futures and
Options" under the section entitled "Additional Investment
Information" on page 5 of the Prospectus.
Securities
Futures and Options: A futures contract is a bilateral agreement
providing for the purchase and sale of a specified type and
amount of a financial instrument, or for the making and
acceptance of a cash settlement, at a stated time in the future
for a fixed price. A call option is a short-term contract
pursuant to which the purchaser of the call option, in return for
the premium paid, has the right to buy the security or other
financial instrument underlying the option at a specified
exercise price at any time during the term of the option. A put
option is a similar contract which gives the purchaser of the put
option, in return for a premium, the right to sell the underlying
security or other financial instrument at a specified price
during the term of the option.
How we use them
The Portfolio may invest in futures, options and closing
transactions related thereto. These activities will not be
entered into for speculative purposes, but rather for hedging
purposes and to facilitate the ability to quickly deploy into the
markets the Portfolio's cash, short-term debt securities and
other money market instruments at times when the Portfolio's
assets are not fully invested in equity or fixed income
securities, as applicable. The Portfolio may only enter into
these transactions for hedging purposes if it is consistent with
its investment objective and policies. The Portfolio may not
engage in such transactions to the extent that obligations
resulting from these activities in the aggregate exceed 25% of
the Portfolio s assets.
DECEMBER 28, 2000
DELAWARE POOLED TRUST
THE BALANCED PORTFOLIO
SUPPLEMENT TO THE PROSPECTUS DATED SEPTEMBER 5, 2000
The Prospectus is hereby amended and supplemented to reflect the
following changes to the investment strategy of The Balanced
Portfolio of Delaware Pooled Trust.
The following replaces the last sentence in the third
paragraph under "What are the Portfolio's main investment
strategies?" on page 7 of the Prospectus.
Each bond in the portfolio will typically have a maturity between
one and 30 years, and the average maturity of the portfolio will
typically be between one and ten years.
The following replaces the description of "Futures and
Options" under the section entitled "Additional Investment
Information" on page 67 of the Prospectus.
Securities
Futures and Options: A futures contract is a bilateral agreement
providing for the purchase and sale of a specified type and
amount of a financial instrument, or for the making and
acceptance of a cash settlement, at a stated time in the future
for a fixed price. A call option is a short-term contract
pursuant to which the purchaser of the call option, in return for
the premium paid, has the right to buy the security or other
financial instrument underlying the option at a specified
exercise price at any time during the term of the option. A put
option is a similar contract which gives the purchaser of the put
option, in return for a premium, the right to sell the underlying
security or other financial instrument at a specified price
during the term of the option.
How we use them
The Core Equity, The Balanced, The Equity Income, The Select
Equity, The Mid-Cap Growth Equity, The Small-Cap Value Equity,
The Small-Cap Growth Equity, The Real Estate Investment Trust,
The Global Equity, The Emerging Markets, The International Small-
Cap, The International Large-Cap Equity, The All-Cap Growth
Equity, The Diversified Core Fixed Income and The Asset
Allocation Portfolios may invest in futures, options and closing
transactions related thereto. These activities will not be
entered into for speculative purposes, but rather for hedging
purposes and to facilitate the ability to quickly deploy into the
stock market a Portfolio's cash, short-term debt securities and
other money market instruments at times when the Portfolio's
assets are not fully invested in equity securities. Similarly,
The Balanced Portfolio may invest in futures, options and closing
transactions related thereto for hedging purposes and to
facilitate the ability to quickly deploy into the fixed income
market the Portfolio's cash, short-term debt securities and other
money market instruments at times when the Portfolio's assets are
not fully invested in fixed income securities. A Portfolio may
only enter into these transactions for hedging purposes if it is
consistent with its respective investment objective and policies.
A Portfolio may not engage in such transactions to the extent
that obligations resulting from these activities in the aggregate
exceed 25% of the Portfolio's assets. In addition, The Global
Equity, The Emerging Markets, The International Large-Cap Equity,
The Diversified Core Fixed Income, The International Fixed Income
and The Asset Allocation Portfolios may enter into futures
contracts, purchase or sell options on futures contracts, and
trade in options on foreign currencies, and may enter into
closing transactions with respect to such activities to hedge or
"cross hedge" the currency risks associated with its investments.
Generally, futures contracts on foreign currencies operate
similarly to futures contracts concerning securities, and options
on foreign currencies operate similarly to options on securities.
See also "Foreign Currency Transactions" below.
