Delaware Investments(R) Municipal Income Funds Announce Results of Special
Shareholders' Meeting
PHILADELPHIA, Nov. 12 /PRNewswire-FirstCall/ -- Delaware Investments Arizona
Municipal Income Fund, Inc. (VAZ), Delaware Investments Colorado Municipal
Income Fund, Inc. (VCF), Delaware Investments National Municipal Income Fund
(VFL), and Delaware Investments Minnesota Municipal Income Fund II, Inc. (VMM)
(together, the "Municipal Income Funds") announced the final results of voting
at the Special Meeting of Shareholders held on November 12, 2009.
Shareholders of each Municipal Income Fund approved a new investment advisory
agreement between the Municipal Income Fund and Delaware Management Company
("DMC"), a series of Delaware Management Business Trust, the current
investment adviser to the Municipal Income Funds (each, a "New Investment
Advisory Agreement").
In a press release on August 19, 2009, Lincoln National Corporation announced
that one of its subsidiaries signed a stock purchase agreement to sell
ownership of Delaware Management Holdings, Inc. and its subsidiaries (also
known by the marketing name of Delaware Investments), including DMC, to
Macquarie Group, a global provider of banking, financial, advisory, investment
and funds management services. The transaction is expected to close on or
around December 31, 2009. The New Investment Advisory Agreements will take
effect if and when the sale of Delaware Investments is completed.
The investment objective of each Municipal Income Fund, other than Delaware
Investments National Municipal Income Fund, 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 Municipal Income Fund has the ability to
utilize leveraging techniques in an attempt to obtain a higher return for the
Municipal Income Fund.
About Delaware Investments:
Delaware Investments, an affiliate of Lincoln Financial Group, is a
Philadelphia-based diversified asset management firm with more than $135
billion in assets under management as of September 30, 2009. Through a broad
range of managed accounts and portfolios, mutual funds, retirement accounts,
sub-advised funds and other investment products, Delaware Investments provides
investment services to individual investors and to institutional investors
such as private and public pension funds, foundations, and endowment funds.
Delaware Investments is the marketing name for Delaware Management Holdings,
Inc. and its subsidiaries. For more information on Delaware Investments, visit
the company at www.delawareinvestments.com or for shareholder related
questions, call 800 523-1918. Lincoln Financial Group is the marketing name
for Lincoln National Corporation (NYSE: LNC) and its affiliates. For more
information on Lincoln Financial Group, visit www.lincolnfinancial.com.
SOURCE Delaware Investments
Media Relations: Ayele Ajavon, +1-215-255-1632, AAjavon@delinvest.com or
Laurel O'Brien, +1-484-583-1735, Laurel.OBrien@lfg.com, both for Delaware
Investments
