Edgar Filing: Delaware Enhanced Global Dividend & Income Fund

deenhanglobdiv_ncsr.htm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number: 811-22050

Exact name of registrant as specified in charter:
Delaware Enhanced Global Dividend and Income Fund

Address of principal executive offices:

2005 Market Street
Philadelphia, PA 19103

Name and address of agent for service:

David F. Connor, Esq.
2005 Market Street
Philadelphia, PA 19103

Registrant’s telephone number, including area code: (800) 523-1918

Date of fiscal year end: November 30

Date of reporting period: May 31, 2011

Item 1. Reports to Stockholders





Semiannual Report	Delaware Enhanced Global Dividend and Income Fund

	May 31, 2011









	The figures in the semiannual report for Delaware Enhanced Global Dividend and Income Fund represent past results, which are not a guarantee of future results. A rise or fall in interest rates can have a significant impact on bond prices. Funds that invest in bonds can lose their value as interest rates rise.




	Closed-end fund

Table of contents

	Security type/sector/country allocations	1

	Statement of net assets	3

	Statement of operations	19

	Statements of changes in net assets	20

	Statement of cash flows	21

	Financial highlights	22

	Notes to financial statements	23

	Other Fund information	31

	About the organization	35

Unless otherwise noted, views expressed herein are current as of May 31, 2011, and subject to change.

Funds are not FDIC insured and are not guaranteed. It is possible to lose the principal amount invested.

Mutual fund advisory services are provided by Delaware Management Company, a series of Delaware Management Business Trust, which is a registered investment advisor. Delaware Investments, a member of Macquarie Group, refers to Delaware Management Holdings, Inc. and its subsidiaries. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.

All third-party trademarks cited are the property of their respective owners.

Security type/sector/country allocations

Delaware Enhanced Global Dividend and Income Fund
As of May 31, 2011

Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment manager’s internal sector classifications, which may result in the sector designations for one fund being different than another fund’s sector designations.

	Percentage
Security type/sector	of Net Assets
Common Stock	54.27	%
Consumer Discretionary	5.39	%
Consumer Staples	5.75	%
Diversified REITs	0.62	%
Energy	4.30	%
Financials	6.42	%
Healthcare	6.55	%
Healthcare REITs	0.12	%
Hotel REITs	0.13	%
Industrial REITs	0.99	%
Industrials	7.93	%
Information Technology	4.45	%
Mall REITs	0.46	%
Manufactured Housing REIT	0.08	%
Materials	2.89	%
Mixed REIT	0.29	%
Mortgage REITs	0.09	%
Multifamily REITs	0.22	%
Office REITs	0.59	%
Real Estate Management & Development	0.35	%
Self-Storage REIT	0.04	%
Shopping Center REITs	0.83	%
Single Tenant REIT	0.14	%
Telecommunications	3.75	%
Utilities	1.89	%
Convertible Preferred Stock	2.59	%
Agency Collateralized Mortgage Obligations	0.24	%
Agency Mortgage-Backed Securities	1.54	%
Commercial Mortgage-Backed Securities	1.16	%
Convertible Bonds	10.37	%
Aerospace & Defense	0.29	%
Auto Parts & Equipment	0.32	%
Banking, Finance & Insurance	0.48	%
Basic Materials	0.55	%
Cable, Media & Publishing	0.15	%
Computers & Technology	2.11	%
Energy	0.41	%
Healthcare & Pharmaceuticals	1.78	%
Leisure, Lodging & Entertainment	0.75	%
Machinery	0.11	%
Real Estate	0.94	%
Telecommunications	2.48	%
Corporate Bonds	33.65	%
Banking	1.09	%
Basic Industry	3.21	%
Brokerage	0.34	%
Capital Goods	2.95	%
Consumer Cyclical	3.67	%
Consumer Non-Cyclical	2.91	%
Energy	5.32	%
Finance & Investments	1.68	%
Media	2.50	%
Real Estate	0.42	%
Services Cyclical	2.43	%
Services Non-Cyclical	1.06	%
Technology	1.43	%
Telecommunications	3.90	%
Utilities	0.74	%
Non-Agency Asset-Backed Securities	0.15	%
Non-Agency Collateralized Mortgage Obligations	0.19	%
Senior Secured Loans	0.79	%
Sovereign Bonds	4.92	%
Supranational Bank	0.67	%
U.S. Treasury Obligations	0.28	%
Leveraged Non-Recourse Security	0.00	%
Residual Interest Trust Certificate	0.00	%
Exchange-Traded Fund	2.61	%
Preferred Stock	0.83	%
Short-Term Investments	5.53	%
Securities Lending Collateral	18.74	%
Total Value of Securities	138.53	%
Obligation to Return Securities Lending Collateral	(18.92	%)
Borrowing Under Line of Credit	(22.63	%)
Receivables and Other Assets Net of Other Liabilities	3.02	%
Total Net Assets	100.00	%

(continues) 1

Security type/sector/country allocations

Delaware Enhanced Global Dividend and Income Fund

	Percentage
Country	of Net Assets
Australia	1.01	%
Barbados	0.18	%
Belgium	0.01	%
Bermuda	0.38	%
Brazil	1.20	%
Canada	2.52	%
Cayman Islands	0.56	%
Chile	0.68	%
China	0.74	%
Colombia	0.61	%
Croatia	0.17	%
France	7.99	%
Germany	2.01	%
Hong Kong	0.99	%
Indonesia	1.18	%
Ireland	0.55	%
Israel	0.64	%
Italy	1.89	%
Japan	3.30	%
Luxembourg	1.43	%
Mexico	0.70	%
Netherlands	1.60	%
Panama	0.61	%
Peru	0.23	%
Philippines	0.61	%
Poland	0.62	%
Qatar	0.17	%
Republic of Korea	0.44	%
Russia	0.84	%
Singapore	0.88	%
Supranational	0.67	%
Spain	1.33	%
Sweden	1.39	%
Switzerland	1.41	%
Taiwan	0.88	%
Turkey	0.11	%
United Kingdom	4.12	%
United States	69.36	%
Uruguay	0.25	%
Total	114.26	%

The percentage of net assets exceeds 100% because the Fund utilizes a line of credit with The Bank of New York Mellon, as described in Note 7 in “Notes to financial statements.” The Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There is no assurance that the Fund will achieve its investment objectives through the use of such techniques.

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund
May 31, 2011 (Unaudited)

		Number of	Value
		Shares	(U.S. $)
Common Stock – 54.27%v
Consumer Discretionary – 5.39%
	Bayerische Motoren Werke	9,381	$	832,249
†	DIRECTV Class A	1,900		95,494
*	Don Quijote	14,500		506,829
*	Genuine Parts	13,100		717,880
	Home Depot	15,700		569,596
	Hyundai Department Store	3,546		604,247
	Mattel	25,800		680,991
*	PPR	3,440		600,292
*	Publicis Groupe	10,729		591,128
	Sumitomo Rubber Industries	12,409		143,765
*	Techtronic Industries	537,000		657,999
	Toyota Motor	33,284		1,390,824
	Vivendi	41,336		1,157,660
*	Yue Yuen Industrial Holdings	280,500		975,483
				9,524,437
Consumer Staples – 5.75%
*	Aryzta	23,314		1,297,068
	Coca-Cola Amatil	41,168		517,867
	ConAgra Foods	41,700		1,060,431
	Greggs	100,081		867,370
	Heinz (H.J.)	18,900		1,037,988
	Kimberly-Clark	15,400		1,051,820
	Kraft Foods Class A	30,600		1,070,082
	Lorillard	9,000		1,037,520
	Metro	13,726		917,013
	Parmalat	354,438		1,314,691
				10,171,850
Diversified REITs – 0.62%
	Cyrela Brazil Realty	4,100		43,919
*	Duke Realty	8,600		129,344
*	Entertainment Properties Trust	8,236		400,104
	Lexington Reality Trust	28,070		264,981
	Stockland	70,059		264,445
				1,102,793
Energy – 4.30%
	Chevron	6,500		681,915
	CNOOC	415,000		1,042,010
	ConocoPhillips	10,900		798,098
	Petroleo Brasileiro ADR	30,900		965,934
*	Royal Dutch Shell ADR	14,300		1,034,176
	Spectra Energy	37,600		1,037,384
*	Total	19,083		1,102,015
*	Total ADR	16,400		944,476
				7,606,008
Financials – 6.42%
	Allstate	32,500		1,019,850
*	AXA	60,009		1,286,569
	Banco Santander	60,743		723,790
	BB&T	19,100		526,014
*	Fifth Street Finance	26,754		329,877
	Gallagher (Arthur J.)	28,900		829,719
	Marsh & McLennan	23,300		714,611
*	Mitsubishi UFJ Financial Group	190,989		880,525
	Nordea Bank	90,500		1,063,284
	Solar Capital	43,539		1,077,590
	Standard Chartered	38,931		1,045,174
	Travelers	14,300		887,744
	UniCredit	420,721		959,653
				11,344,400
Healthcare – 6.55%
	Abbott Laboratories	14,900		778,525
*†	Alliance HealthCare Services	6,522		28,240
	Baxter International	9,400		559,488
	Bristol-Myers Squibb	33,700		969,212
	Johnson & Johnson	14,000		942,060
*	Meda Class A	124,711		1,392,279
	Merck	37,400		1,374,450
	Novartis	18,471		1,191,486
	Pfizer	53,944		1,157,099
*	Sanofi	14,228		1,128,092
*	Sanofi ADR	23,100		914,991
	Teva Pharmaceutical
	Industries ADR	22,300		1,135,070
				11,570,992
Healthcare REITs – 0.12%
	Cogdell Spencer	15,000		90,000
	Nationwide Health Properties	2,800		122,640
				212,640
Hotel REITs – 0.13%
	Ashford Hospitality Trust	4,500		64,215
	DiamondRock Hospitality	15,000		172,500
				236,715
Industrial REITs – 0.99%
	Cambridge Industrial Trust	1,170,000		474,221
	DCT Industrial Trust	16,877		95,524
*†	First Industrial Realty Trust	47,109		592,631
	Goodman Group	247,237		194,229
	STAG Industrial	31,263		397,040
				1,753,645
Industrials – 7.93%
	Alstom	18,889		1,173,101
	Asahi Glass	58,000		685,308
	Compaigne de Saint-Gobain	15,228		1,010,342
	Deutsche Post	77,364		1,459,822
*	Finmeccanica	85,107		1,062,105
†	Flextronics International	6,400		46,336
	ITOCHU	116,398		1,204,155
	Koninklijke Philips Electronics	32,279		898,775
*†	Mobile Mini	2,394		53,865

(continues) 3

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Number of	Value
		Shares	(U.S. $)
Common Stock (continued)
Industrials (continued)
*	Northrop Grumman	11,200	$	731,248
	Raytheon	21,100		1,063,018
	Singapore Airlines	90,000		1,033,677
*	Teleperformance	39,480		1,352,034
	Vallourec	9,466		1,189,285
*	Waste Management	27,200		1,057,536
				14,020,607
Information Technology – 4.45%
	Automatic Data Processing	16,400		903,804
	Canon ADR	15,600		748,488
†	CGI Group Class A	107,484		2,477,627
	HTC	36,450		1,557,561
	Intel	53,100		1,195,281
	Microsoft	30,300		757,803
†	Sohu.com	2,800		225,764
				7,866,328
Mall REITs – 0.46%
	General Growth Properties	12,763		210,334
	Simon Property Group	5,095		601,516
				811,850
Manufactured Housing REIT – 0.08%
	Equity Lifestyle Properties	2,300		135,125
				135,125
Materials – 2.89%
	ArcelorMittal	16,161		541,003
	duPont (E.I.) deNemours	11,000		586,300
*	Lafarge	15,702		1,087,332
	MeadWestvaco	18,900		642,978
	Rexam	193,041		1,274,161
	Rio Tinto	14,011		976,259
				5,108,033
Mixed REIT – 0.29%
*	Digital Realty Trust	8,300		517,671
				517,671
Mortgage REITs – 0.09%
*	Chimera Investment	12,100		47,311
*	Cypress Sharpridge Investments	8,200		105,288
				152,599
Multifamily REITs – 0.22%
	Camden Property Trust	4,469		287,268
*	Investors Real Estate Trust	10,260		99,419
				386,687
Office REITs – 0.59%
@	Alstria Office REIT	9,710		152,141
*	Government Properties
	Income Trust	3,852		102,001
	Mack-Cali Realty	8,300		293,488
	Orix JREIT	17		92,025
	Parkway Properties	3,500		64,260
	SL Green Realty	3,679		331,147
				1,035,062
Real Estate Management & Development – 0.35%
	Mitsubishi Estate	10,549		188,439
*	Renhe Commercial Holdings	264,000		47,220
	Starwood Property Trust	17,700		384,798
				620,457
Self-Storage REIT – 0.04%
	Extra Space Storage	3,455		75,181
				75,181
Shopping Center REITs – 0.83%
∏	Charter Hall Retail REIT	71,117		254,011
	Corio	2,648		181,893
*	Kimco Realty	8,157		159,143
	Link REIT	33,000		112,286
*	Ramco-Gershenson
	Properties Trust	13,783		181,109
	Regency Centers	900		41,679
	Unibail-Rodamco	1,399		316,368
	Westfield Group	16,989		165,117
	Westfield Retail Trust	21,112		60,019
				1,471,625
Single Tenant REIT – 0.14%
*	National Retail Properties	9,337		240,708
				240,708
Telecommunications – 3.75%
	AT&T	33,500		1,057,260
	CenturyLink	17,100		738,549
*	Frontier Communications	65,000		575,250
†	GeoEye	500		16,585
	Mobile TeleSystems ADR	38,300		776,341
†	NII Holdings	25,100		1,095,866
	Telefonica	44,444		1,080,572
	Verizon Communications	18,100		668,433
	Vodafone Group	221,417		615,633
				6,624,489
Utilities – 1.89%
	Edison International	13,300		523,488
	National Grid	105,742		1,091,643
*	National Grid ADR	14,000		728,140
	NorthWestern	3,800		125,666
	Progress Energy	18,400		876,208
				3,345,145
Total Common Stock (cost $87,765,157)				95,935,047

Convertible Preferred Stock – 2.59%
Auto Parts & Equipment – 0.12%
	Goodyear Tire & Rubber 5.875%
	exercise price $18.21,
	expiration date 4/1/14	3,750		221,016
				221,016

		Number of	Value
		Shares	(U.S. $)
Convertible Preferred Stock (continued)
Banking, Finance & Insurance – 0.81%
	Aspen Insurance Holdings
	5.625% exercise price $29.28,
	expiration date 12/31/49	5,024	$	270,354
*	Bank of America 7.25%
	exercise price $50.00,
	expiration date 12/31/49	412		430,642
	Citigroup 7.50%
	exercise price $39.38,
	expiration date 12/15/12	3,440		414,520
	MetLife 5.00%
	exercise price $44.27,
	expiration date 9/11/13	3,810		315,125
				1,430,641
Computers & Technology – 0.04%
*	Unisys 6.25%
	exercise price $45.66,
	expiration date 3/1/14	800		65,700
				65,700
Energy – 0.74%
*	Apache 6.00%
	exercise price $109.12,
	expiration date 8/1/13	3,100		206,243
*#	Chesapeake Energy 144A
	5.75% exercise price $27.94,
	expiration date 12/31/49	400		530,500
	SandRidge Energy 8.50%
	exercise price $8.01,
	expiration date 12/31/49	3,485		568,926
				1,305,669
Healthcare & Pharmaceuticals – 0.32%
	HealthSouth 6.50%
	exercise price $30.50,
	expiration date 12/31/49	479		565,340
				565,340
Telecommunications – 0.56%
	Lucent Technologies
	Capital Trust I 7.75%
	exercise price $24.80,
	expiration date 3/15/17	1,000		990,000
				990,000
Total Convertible Preferred Stock
	(cost $4,154,445)			4,578,366

		Principal
		Amount°
Agency Collateralized Mortgage Obligations – 0.24%
	Fannie Mae REMICs
	Series 2001-50 BA
	7.00% 10/25/41	USD	130,616	150,932
	Series 2003-122
	4.50% 2/25/28		64,478	66,933
	Freddie Mac REMICs
	Series 2557 WE
	5.00% 1/15/18		60,000	66,252
	Series 3131 MC
	5.50% 4/15/33		40,000	43,572
	Series 3173 PE
	6.00% 4/15/35		65,000	72,470
	Series 3337 PB
	5.50% 7/15/30		24,563	24,952
Total Agency Collateralized
	Mortgage Obligations (cost $385,612)			425,111

Agency Mortgage-Backed Securities – 1.54%
•	Fannie Mae ARM
	2.572% 4/1/36		14,338	15,055
	5.031% 3/1/38		29,806	31,891
	5.141% 11/1/35		18,559	19,782
	5.997% 10/1/36		8,296	8,824
	6.013% 10/1/36		14,499	15,393
	6.264% 4/1/36		71,128	77,018
	Fannie Mae S.F. 15 yr
	4.00% 7/1/25		122,580	127,993
	4.00% 8/1/25		169,716	177,211
	4.00% 11/1/25		178,412	186,625
	5.50% 1/1/23		41,942	45,512
	Fannie Mae S.F. 30 yr
	5.00% 12/1/36		144,755	154,818
	5.00% 12/1/37		17,146	18,284
	5.00% 2/1/38		13,243	14,116
	6.50% 6/1/36		29,915	33,855
	6.50% 10/1/36		20,052	22,676
	6.50% 12/1/37		34,872	39,587
	Freddie Mac 6.00% 1/1/17		37,263	39,568
•	Freddie Mac ARM
	5.619% 7/1/36		15,077	15,839
	5.801% 10/1/36		35,635	38,399
	Freddie Mac S.F. 15 yr
	5.00% 6/1/18		16,024	17,214
	5.00% 12/1/22		85,139	91,701
	Freddie Mac S.F. 30 yr
	5.00% 1/1/34		730,777	782,517
	7.00% 11/1/33		45,816	52,990
	9.00% 9/1/30		52,496	62,573
	GNMA I S.F. 30 yr
	7.50% 12/15/23		92,310	109,545
	7.50% 1/15/32		73,515	86,195
	9.50% 9/15/17		70,202	81,665
	12.00% 5/15/15		38,679	44,251
	GNMA II S.F. 30 yr
	6.00% 11/20/28		82,794	92,125
	6.50% 2/20/30		192,158	217,748
Total Agency Mortgage-Backed
	Securities (cost $2,506,039)			2,720,970

(continues) 5

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Commercial Mortgage-Backed Securities – 1.16%
#	American Tower Trust 144A
	Series 2007-1A AFX
	5.42% 4/15/37	USD	75,000	$	80,839
	Bank of America
	Commercial Mortgage
	•Series 2004-3 A5
	5.441% 6/10/39		49,548		53,645
	Series 2004-5 A3
	4.561% 11/10/41		358,591		361,055
	Series 2005-1 A3
	4.877% 11/10/42		25,437		25,436
	•Series 2005-6 A4
	5.195% 9/10/47		180,000		198,132
	Bear Stearns Commercial
	Mortgage Securities
	•Series 2005-PW10 A4
	5.405% 12/11/40		100,000		110,262
	•Series 2006-PW12 A4
	5.722% 9/11/38		25,000		27,877
	Series 2007-PW15 A4
	5.331% 2/11/44		75,000		80,497
w•	Commercial Mortgage Pass
	Through Certificates
	Series 2005-C6 A5A
	5.116% 6/10/44		95,000		103,586
	Goldman Sachs Mortgage
	Securities II
	*•Series 2004-GG2 A6
	5.396% 8/10/38		60,000		65,346
	Series 2005-GG4 A4A
	4.751% 7/10/39		115,000		123,760
	•Series 2006-GG6 A4
	5.553% 4/10/38		60,000		65,403
•	JPMorgan Chase Commercial
	Mortgage Securities
	Series 2005-LDP3 A4A
	4.936% 8/15/42		35,000		38,018
•	LB-UBS Commercial
	Mortgage Trust
	Series 2004-C4 A4
	5.323% 6/15/29		475,000		514,480
•	Morgan Stanley Capital I
	Series 2007-T27 A4
	5.641% 6/11/42		160,000		179,835
#	Timberstar Trust
	Series 2006-1A A 144A
	5.668% 10/15/36		25,000		26,501
Total Commercial Mortgage-Backed
	Securities (cost $1,808,341)				2,054,672

Convertible Bonds – 10.37%
Aerospace & Defense – 0.29%
	AAR 1.75%
	exercise price $29.43,
	expiration date 2/1/26		462,000		507,045
					507,045
Auto Parts & Equipment – 0.32%
*	ArvinMeritor 4.00%
	exercise price $26.73,
	expiration date 2/15/27		583,000		569,883
					569,883
Banking, Finance & Insurance – 0.48%
#	Ares Capital 144A 5.75%
	exercise price $19.13,
	expiration date 2/1/16		225,000		236,250
*	Jefferies Group 3.875%
	exercise price $38.72,
	expiration date 11/1/29		615,000		624,225
					860,475
Basic Materials – 0.55%
#	Owens-Brockway Glass
	Container 144A 3.00%
	exercise price $47.47,
	expiration date 5/28/15		528,000		550,440
#	Sino-Forest 144A 5.00%
	exercise price $20.29,
	expiration date 8/1/13		377,000		426,953
					977,393
Cable, Media & Publishing – 0.15%
Φ	General Cable 4.50%
	exercise price $36.75,
	expiration date 11/15/29		196,000		268,520
					268,520
Computers & Technology – 2.11%
	Advanced Micro Devices 6.00%
	exercise price $28.08,
	expiration date 5/1/15		626,000		653,387
	Euronet Worldwide 3.50%
	exercise price $40.48,
	expiration date 10/15/25		900,000		904,499
*	Intel 3.25% exercise price $22.68,
	expiration date 8/1/39		338,000		420,810
	Linear Technology 3.00%
	exercise price $44.11,
	expiration date 5/1/27		850,000		921,187
	Rovi 2.625%
	exercise price $47.36,
	expiration date 2/15/40		326,000		449,473
*	SanDisk 1.50%
	exercise price $52.37,
	expiration date 8/15/17		327,000		375,233
					3,724,589

		Principal		Value
		Amount°		(U.S. $)
Convertible Bonds (continued)
Energy – 0.41%
	Peabody Energy 4.75%
	exercise price $58.31,
	expiration date 12/15/41	USD	245,000	$	309,925
	Transocean
	1.50% exercise price $166.65,
	expiration date 12/15/37		400,000		395,500
	*1.50% exercise price $166.65,
	expiration date 12/15/37		14,000		14,035
					719,460
Healthcare & Pharmaceuticals – 1.78%
	Alere 3.00%
	exercise price $43.98,
	expiration date 5/15/36		613,000		711,846
*	Amgen 0.375%
	exercise price $79.48,
	expiration date 2/1/13		510,000		517,650
*	Dendreon 2.875%
	exercise price $51.24,
	expiration date 1/15/16		331,000		377,340
ϕ	Hologic 2.00%
	exercise price $38.59,
	expiration date 12/15/37		910,000		892,938
	Medtronic 1.625%
	exercise price $54.00,
	expiration date 4/15/13		280,000		290,500
	Mylan 3.75%
	exercise price $13.32,
	expiration date 9/15/15		193,000		366,459
					3,156,733
Leisure, Lodging & Entertainment – 0.75%
#	Gaylord Entertainment
	144A 3.75%
	exercise price $27.25,
	expiration date 10/1/14		310,000		418,888
	Live Nation
	Entertainment 2.875%
	exercise price $27.14,
	expiration date 7/15/27		959,000		901,459
					1,320,347
Machinery – 0.11%
#	Altra Holdings 144A 2.75%
	exercise price $27.70,
	expiration date 3/1/31		165,000		191,606
					191,606
Real Estate – 0.94%
#	Digital Realty Trust 144A 5.50%
	exercise price $42.49,
	expiration date 4/15/29		380,000		576,888
*	Health Care REIT 3.00%
	exercise price $51.08,
	expiration date 12/1/29		574,000		651,490
#	Lexington Realty
	Trust 144A 6.00%
	exercise price $7.09,
	expiration date 1/15/30		305,000		431,575
					1,659,953
Telecommunications – 2.48%
#	Alaska Communications
	Systems Group 144A 6.25%
	exercise price $10.28,
	expiration date 5/1/18		459,000		462,443
#	Ciena 144A 3.75%
	exercise price $20.17,
	expiration date 10/15/18		318,000		488,925
#	Clearwire Communications
	144A 8.25%
	exercise price $7.08,
	expiration date 12/1/40		252,000		253,890
	Equinix 4.75%
	exercise price $84.32,
	expiration date 6/15/16		178,000		253,873
*	Leap Wireless
	International 4.50%
	exercise price $93.21,
	expiration date 7/15/14		710,000		698,462
	Level 3 Communications 6.50%
	exercise price $1.23,
	expiration date 10/1/16		200,000		403,750
	NII Holdings 3.125%
	exercise price $118.32,
	expiration date 6/15/12		700,000		703,499
	SBA Communications 4.00%
	exercise price $30.38,
	expiration date 10/1/14		378,000		545,738
*	VeriSign 3.25%
	exercise price $34.37,
	expiration date 8/15/37		480,000		571,799
					4,382,379
Total Convertible Bonds
	(cost $15,754,686)				18,338,383

Corporate Bonds – 33.65%
Banking – 1.09%
	Abbey National
	Treasury Services
	4.00% 4/27/16		30,000		30,194
	BAC Capital Trust VI
	5.625% 3/8/35		440,000		407,246
	Bank of America
	*5.625% 7/1/20		5,000		5,260
	6.50% 8/1/16		5,000		5,662
	City National
	5.25% 9/15/20		15,000		15,593
*	Fifth Third Bancorp
	3.625% 1/25/16		20,000		20,480
•	Fifth Third Capital Trust IV
	6.50% 4/15/37		270,000		270,000
	Goldman Sachs Group
	*3.625% 2/7/16		15,000		15,058
	5.375% 3/15/20		10,000		10,330
	6.25% 2/1/41		5,000		5,071

(continues) 7

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Banking (continued)
#•	HBOS Capital Funding 144A
	6.071% 6/29/49	USD	285,000	$	257,925
	JPMorgan Chase
	4.40% 7/22/20		20,000		19,856
	*4.625% 5/10/21		25,000		25,139
	JPMorgan Chase Capital XXV
	6.80% 10/1/37		55,000		56,421
	KeyCorp 5.10% 3/24/21		20,000		20,856
	PNC Funding
	5.125% 2/8/20		30,000		32,579
	5.25% 11/15/15		60,000		65,663
	5.625% 2/1/17		35,000		38,837
	Santander Holdings USA
	4.625% 4/19/16		10,000		10,304
	SunTrust Banks
	3.60% 4/15/16		5,000		5,125
•	SunTrust Capital VIII
	6.10% 12/15/36		420,000		417,132
	SVB Financial Group
	5.375% 9/15/20		25,000		25,363
	US Bancorp
	4.125% 5/24/21		20,000		20,130
•	USB Capital IX
	3.50% 10/29/49		80,000		67,390
	Wachovia
	•0.648% 10/15/16		10,000		9,515
	5.25% 8/1/14		20,000		21,789
	5.625% 10/15/16		35,000		39,133
	Wells Fargo 4.60% 4/1/21		10,000		10,259
•	Wells Fargo Capital XIII
	7.70% 12/29/49		5,000		5,163
					1,933,473
Basic Industry – 3.21%
*	AK Steel 7.625% 5/15/20		346,000		361,570
	Alcoa 6.75% 7/15/18		30,000		34,203
#	Algoma Acquisition 144A
	9.875% 6/15/15		248,000		232,500
#	APERAM 144A 7.75% 4/1/18		225,000		233,438
#	Appleton Papers 144A
	10.50% 6/15/15		188,000		200,220
	ArcelorMittal
	5.50% 3/1/21		25,000		25,232
	9.85% 6/1/19		25,000		32,250
#	Barrick North America
	Finance 144A
	4.40% 5/30/21		15,000		15,091
	5.70% 5/30/41		10,000		10,021
#	Corp Nacional de Cobre
	de Chile 144A
	3.75% 11/4/20		500,000		482,631
	Dow Chemical
	4.25% 11/15/20		6,000		5,958
	8.55% 5/15/19		34,000		44,343
	duPont (E.I.) de Nemours
	3.625% 1/15/21		5,000		4,928
#	FMG Resources
	August 2006 144A
	6.875% 2/1/18		90,000		94,500
	7.00% 11/1/15		180,000		188,100
	Georgia-Pacific
	8.00% 1/15/24		255,000		308,550
	#144A 5.40% 11/1/20		15,000		15,623
#	Headwaters 144A
	7.625% 4/1/19		265,000		259,700
*	Hexion US Finance
	9.00% 11/15/20		222,000		239,760
	International Coal Group
	9.125% 4/1/18		344,000		419,680
*	International Paper
	9.375% 5/15/19		30,000		39,476
*#	James River Escrow 144A
	7.875% 4/1/19		230,000		235,750
#	JMC Steel Group 144A
	8.25% 3/15/18		260,000		269,750
*#	Longview Fiber Paper &
	Packaging 144A
	8.00% 6/1/16		260,000		265,200
	Lyondell Chemical
	11.00% 5/1/18		325,000		367,656
#	MacDermid 144A
	9.50% 4/15/17		238,000		255,255
#	Millar Western Forest
	Products 144A
	8.50% 4/1/21		245,000		235,200
#	Momentive Performance
	Materials 144A
	9.00% 1/15/21		416,000		446,159
	Reliance Steel & Aluminum
	6.85% 11/15/36		9,000		9,125
	Ryerson
	•7.648% 11/1/14		141,000		143,644
	12.00% 11/1/15		166,000		179,695
	Teck Resources
	9.75% 5/15/14		13,000		15,889
					5,671,097
Brokerage – 0.34%
	E Trade Financial
	6.75% 6/1/16		100,000		100,500
	PIK 12.50% 11/30/17		331,000		399,682
	Jefferies Group
	6.25% 1/15/36		5,000		4,880
	6.45% 6/8/27		60,000		61,294
	Lazard Group
	6.85% 6/15/17		34,000		38,084
					604,440

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Capital Goods – 2.95%
#	Associated Materials
	144A 9.125% 11/1/17	USD	150,000	$	155,438
	Berry Plastics
	9.75% 1/15/21		267,000		268,669
	10.25% 3/1/16		130,000		131,300
#	Building Materials
	of America 144A
	6.75% 5/1/21		263,000		265,630
#	Cemex Espana
	Luxembourg 144A
	9.25% 5/12/20		529,000		544,208
#	DAE Aviation Holdings 144A
	11.25% 8/1/15		184,000		194,350
	Kratos Defense &
	Security Solutions
	10.00% 6/1/17		225,000		248,625
*	Manitowoc
	9.50% 2/15/18		215,000		239,188
*#	Masonite International
	144A 8.25% 4/15/21		255,000		258,188
*	Mueller Water Products
	7.375% 6/1/17		255,000		256,913
#	Nortek 144A
	8.50% 4/15/21		265,000		254,069
*	Ply Gem Industries
	13.125% 7/15/14		230,000		251,850
#	Polypore International
	144A 7.50% 11/15/17		245,000		261,538
	Pregis 12.375% 10/15/13		244,000		243,390
*	RBS Global/Rexnord
	11.75% 8/1/16		302,000		323,894
	Temple-Inland
	6.875% 1/15/18		10,000		11,180
	TriMas 9.75% 12/15/17		180,000		200,925
#	Votorantim Cimentos
	144A 7.25% 4/5/41		1,118,000		1,109,614
					5,218,969
Consumer Cyclical – 3.67%
*	American Axle &
	Manufacturing
	7.875% 3/1/17		395,000		406,850
	ArvinMeritor
	8.125% 9/15/15		246,000		259,530
	Beazer Homes USA
	9.125% 6/15/18		65,000		62,075
	#144A 9.125% 5/15/19		305,000		290,513
#	Brown Group 144A
	7.125% 5/15/19		205,000		199,875
#	Burlington Coat Factory
	Warehouse 144A
	10.00% 2/15/19		405,000		408,037
*#	Chrysler Group 144A
	8.25% 6/15/21		250,000		250,625
	CKE Restaurants
	11.375% 7/15/18		171,000		188,100
	CVS Caremark
	5.75% 5/15/41		25,000		24,875
*	Dana Holding
	6.75% 2/15/21		210,000		211,050
	Dave & Buster’s
	11.00% 6/1/18		280,000		306,600
*#	DineEquity 144A
	9.50% 10/30/18		225,000		247,500
*#	Dunkin Finance 144A
	9.625% 12/1/18		198,000		200,721
	Express 8.75% 3/1/18		93,000		101,370
	Family Dollar Stores
	5.00% 2/1/21		15,000		14,925
*	Ford Motor
	7.45% 7/16/31		235,000		268,014
	Ford Motor Credit
	12.00% 5/15/15		195,000		249,423
	Hanesbrands
	6.375% 12/15/20		280,000		276,500
	Interface 7.625% 12/1/18		175,000		188,125
#	International Automotive
	Components Group
	144A 9.125% 6/1/18		175,000		179,813
#	Jaguar Land Rover 144A
	8.125% 5/15/21		260,000		266,500
#	M/I Homes 144A
	8.625% 11/15/18		421,000		415,210
*#	Needle Merger Sub 144A
	8.125% 3/15/19		210,000		213,675
	Norcraft
	10.50% 12/15/15		151,000		158,928
	#144A 10.50% 12/15/15		135,000		142,088
#	Pinafore 144A
	9.00% 10/1/18		376,000		414,539
	Quiksilver
	6.875% 4/15/15		250,000		245,625
	Standard Pacific
	10.75% 9/15/16		119,000		138,040
	WMG Acquisition
	9.50% 6/15/16		150,000		159,938
					6,489,064
Consumer Non-Cyclical – 2.91%
#	Accellent 144A
	10.00% 11/1/17		115,000		114,425
	Amgen 3.45% 10/1/20		25,000		24,231

(continues) 9

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Consumer Non-Cyclical (continued)
#	AMGH Merger Sub 144A
	9.25% 11/1/18	USD	245,000	$	264,294
	Anheuser-Busch
	InBev Worldwide
	5.375% 11/15/14		20,000		22,412
#	Armored Autogroup
	144A 9.25% 11/1/18		290,000		295,438
	Bio-Rad Laboratories
	4.875% 12/15/20		20,000		20,400
#	Blue Merger Sub 144A
	7.625% 2/15/19		255,000		261,534
#	Bumble Bee Acquisition
	144A 9.00% 12/15/17		165,000		170,363
	CareFusion
	6.375% 8/1/19		65,000		74,606
	Celgene 3.95% 10/15/20		20,000		19,562
	Cott Beverages
	8.375% 11/15/17		132,000		141,900
	Covidien International Finance
	4.20% 6/15/20		20,000		20,599
*	Dean Foods
	7.00% 6/1/16		364,000		366,729
	Delhaize Group
	5.70% 10/1/40		7,000		6,819
	6.50% 6/15/17		5,000		5,818
#	DJO Finance 144A
	9.75% 10/15/17		374,000		391,297
	Dole Food
	13.875% 3/15/14		91,000		110,679
	Express Scripts
	3.125% 5/15/16		20,000		20,238
	Hospira 6.40% 5/15/15		95,000		108,268
	Kraft Foods
	6.125% 8/23/18		20,000		23,064
	Laboratory Corp. of
	America Holdings
	4.625% 11/15/20		25,000		25,615
	Lantheus Medical Imaging
	9.75% 5/15/17		321,000		330,629
	Life Technologies
	6.00% 3/1/20		5,000		5,482
	LVB Acquisition
	11.625% 10/15/17		244,000		275,110
	McKesson 4.75% 3/1/21		10,000		10,530
	Medco Health Solutions
	4.125% 9/15/20		20,000		19,847
	7.125% 3/15/18		10,000		12,033
	Merck 3.875% 1/15/21		15,000		15,142
#	NBTY 144A
	9.00% 10/1/18		263,000		283,383
	PHH 9.25% 3/1/16		186,000		207,855
	Pinnacle Foods Finance
	10.625% 4/1/17		180,000		193,950
	Quest Diagnostics
	4.70% 4/1/21		5,000		5,161
#	Quintiles Transnational PIK
	144A 9.50% 12/30/14		106,000		109,180
#	Reynolds Group Issuer 144A
	8.25% 2/15/21		125,000		127,813
	9.00% 4/15/19		310,000		330,537
*	Safeway 3.95% 8/15/20		15,000		14,823
#	STHI Holding 144A
	8.00% 3/15/18		235,000		243,225
	Tops Holding
	10.125% 10/15/15		131,000		140,661
#	Viskase 144A
	9.875% 1/15/18		228,000		240,255
#	Woolworths 144A
	4.55% 4/12/21		15,000		15,389
	Yale University
	2.90% 10/15/14		45,000		47,371
	Zimmer Holdings
	4.625% 11/30/19		30,000		32,176
					5,148,843
Energy – 5.32%
	American Petroleum
	Tankers Parent
	10.25% 5/1/15		268,000		286,090
	Antero Resources Finance
	9.375% 12/1/17		156,000		170,820
	Aquilex Holdings
	11.125% 12/15/16		178,000		176,220
#	Calumet Specialty
	Products Partners
	144A 9.375% 5/1/19		255,000		269,184
	CenterPoint Energy
	5.95% 2/1/17		13,000		14,479
*#	Chaparral Energy 144A
	8.25% 9/1/21		330,000		343,199
	Chesapeake Energy
	6.50% 8/15/17		135,000		146,475
	6.625% 8/15/20		87,000		91,894
	6.875% 11/15/20		13,000		13,748
	Comstock Resources
	7.75% 4/1/19		260,000		264,225
	Copano Energy
	7.75% 6/1/18		169,000		177,873
	Crosstex Energy
	8.875% 2/15/18		175,000		190,750

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Energy (continued)
	Ecopetrol
	7.625% 7/23/19	USD	900,000	$	1,072,124
	El Paso
	6.875% 6/15/14		44,000		50,203
	7.00% 6/15/17		205,000		238,700
•	Enbridge Energy Partners
	8.05% 10/1/37		20,000		22,149
	Energy Transfer Partners
	4.65% 6/1/21		40,000		39,950
	9.70% 3/15/19		25,000		33,329
	Enterprise Products Operating
	•7.034% 1/15/68		35,000		36,974
	9.75% 1/31/14		5,000		6,023
#	Helix Energy Solutions
	Group 144A
	9.50% 1/15/16		291,000		309,915
*#	Hercules Offshore 144A
	10.50% 10/15/17		187,000		199,623
*#	Hilcorp Energy I 144A
	8.00% 2/15/20		226,000		241,820
	Holly 9.875% 6/15/17		171,000		192,803
	Kinder Morgan Energy
	Partners 9.00% 2/1/19		30,000		38,997
#	Laredo Petroleum 144A
	9.50% 2/15/19		275,000		293,563
	Linn Energy
	8.625% 4/15/20		201,000		221,100
	#144A 6.50% 5/15/19		55,000		55,138
	MarkWest Energy Partners
	6.50% 8/15/21		270,000		273,713
#	Murray Energy 144A
	10.25% 10/15/15		230,000		248,975
*#	NFR Energy 144A
	9.75% 2/15/17		224,000		221,200
*	Noble Energy
	8.25% 3/1/19		20,000		25,834
	Noble Holding International
	4.625% 3/1/21		30,000		30,997
#	Oasis Petroleum 144A
	7.25% 2/1/19		200,000		202,000
	Offshore Group Investments
	11.50% 8/1/15		185,000		204,888
	#144A 11.50% 8/1/15		20,000		22,100
*#	OPTI Canada 144A
	9.00% 12/15/12		200,000		202,000
	Pemex Project Funding
	Master Trust
	6.625% 6/15/35		1,000,000		1,047,982
	Petrobras International Finance
	5.375% 1/27/21		20,000		20,621
	Petrohawk Energy
	7.25% 8/15/18		255,000		268,706
	Petroleum Development
	12.00% 2/15/18		217,000		245,210
	Pioneer Drilling
	9.875% 3/15/18		106,000		115,408
	Plains All American Pipeline
	8.75% 5/1/19		10,000		12,899
	Pride International
	6.875% 8/15/20		20,000		23,677
	Quicksilver Resources
	7.125% 4/1/16		190,000		188,100
#	SandRidge Energy 144A
	7.50% 3/15/21		265,000		274,606
	TNK-BP Finance
	7.875% 3/13/18		400,000		464,999
•	TransCanada Pipelines
	6.35% 5/15/67		35,000		35,795
	Transocean
	6.50% 11/15/20		10,000		11,356
	Weatherford Bermuda
	9.625% 3/1/19		15,000		19,610
	Williams Partners
	7.25% 2/1/17		10,000		12,045
#	Woodside Finance 144A
	8.125% 3/1/14		15,000		17,485
	8.75% 3/1/19		15,000		19,373
					9,406,947
Finance & Investments – 1.68%
•	American International Group
	8.175% 5/15/58		270,000		299,025
	Cardtronics 8.25% 9/1/18		84,000		92,190
•	Chubb 6.375% 3/29/67		15,000		15,975
	General Electric Capital
	4.375% 9/16/20		5,000		4,991
	5.30% 2/11/21		15,000		15,785
	6.00% 8/7/19		95,000		106,575
•	Genworth Financial
	6.15% 11/15/66		171,000		132,953
#	Health Care Services
	144A 4.70% 1/15/21		10,000		10,372
#•	ILFC E-Capital Trust I
	144A 5.97% 12/21/65		265,000		223,970
#•	ILFC E-Capital Trust II
	144A 6.25% 12/21/65		355,000		314,175
•	ING Groep
	5.775% 12/29/49		345,000		322,575
	International
	lease Finance
	6.25% 5/15/19		32,000		32,170

(continues) 11

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Finance & Investments (continued)
#•	Liberty Mutual Group
	144A 7.00% 3/15/37	USD	355,000	$	354,208
	MetLife 6.40% 12/15/36		100,000		100,173
*	Nuveen Investments
	10.50% 11/15/15		378,000		402,569
	#144A 10.50% 11/15/15		110,000		116,600
	Prudential Financial
	3.875% 1/14/15		35,000		36,922
•	XL Group
	6.50% 12/29/49		410,000		391,038
					2,972,266
Media – 2.50%
#	Affinion Group 144A
	7.875% 12/15/18		352,000		336,160
#	AMO Escrow 144A
	11.50% 12/15/17		126,000		137,025
	Cablevision Systems
	8.00% 4/15/20		114,000		125,685
*	CCO Holdings
	8.125% 4/30/20		315,000		342,169
	#144A 7.00% 1/15/19		20,000		20,475
#	Clear Channel
	Communications
	144A 9.00% 3/1/21		260,000		261,950
#	Columbus International
	144A 11.50% 11/20/14		270,000		312,039
*	DIRECTV Holdings
	5.00% 3/1/21		15,000		15,627
	Entravision Communications
	8.75% 8/1/17		350,000		373,624
*	GXS Worldwide
	9.75% 6/15/15		247,000		252,558
#	inVentiv Health 144A
	10.00% 8/15/18		175,000		182,656
#	Kabel BW Erste
	Beteiligungs 144A
	7.50% 3/15/19		185,000		193,556
	MDC Partners
	11.00% 11/1/16		222,000		247,808
	#144A 11.00% 11/1/16		110,000		121,688
#	NBC Universal Media
	144A 4.375% 4/1/21		25,000		24,900
	Nexstar Broadcasting
	8.875% 4/15/17		200,000		218,000
*#	Ono Finance II 144A
	10.875% 7/15/19		240,000		267,600
#	Sinclair Television Group
	144A 9.25% 11/1/17		147,000		165,008
	Time Warner
	4.75% 3/29/21		5,000		5,108
	Time Warner Cable
	4.125% 2/15/21		5,000		4,829
	8.25% 4/1/19		20,000		25,058
#	UPC Holding 144A
	9.875% 4/15/18		345,000		388,124
*	Visant 10.00% 10/1/17		120,000		127,500
#	Vivendi 144A
	6.625% 4/4/18		25,000		28,688
#	XM Satellite Radio 144A
	7.625% 11/1/18		225,000		240,188
					4,418,023
Real Estate – 0.42%
	Brandywine Operating
	Partnership
	4.95% 4/15/18		15,000		15,434
	Developers Diversified
	Realty
	4.75% 4/15/18		5,000		5,004
	7.50% 4/1/17		5,000		5,813
	*7.875% 9/1/20		20,000		23,430
	Digital Realty Trust
	5.25% 3/15/21		20,000		20,376
	5.875% 2/1/20		10,000		10,761
	Health Care REIT
	5.25% 1/15/22		30,000		30,328
	Host Marriott
	6.375% 3/15/15		245,000		251,738
#	Qatari Diar Finance 144A
	5.00% 7/21/20		300,000		308,249
	Regency Centers
	5.875% 6/15/17		20,000		22,591
	UDR 4.25% 6/1/18		10,000		9,983
	Ventas Realty
	4.75% 6/1/21		20,000		19,976
#	WEA Finance
	4.625% 5/10/21		20,000		19,999
					743,682
Services Cyclical – 2.43%
	ARAMARK 8.50% 2/1/15		150,000		156,750
#	ARAMARK Holdings 144A
	PIK 8.625% 5/1/16		255,000		262,013
#	Brambles USA 144A
	3.95% 4/1/15		15,000		15,496
	5.35% 4/1/20		15,000		15,505
	Burlington Northern Santa Fe
	4.70% 10/1/19		10,000		10,707
	5.65% 5/1/17		5,000		5,710
#	CMA CGM 144A
	8.50% 4/15/17		260,000		237,900

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Services Cyclical (continued)
	CSX
	4.25% 6/1/21	USD	15,000	$	15,054
	5.50% 4/15/41		5,000		5,025
#	Delta Air Lines 144A
	12.25% 3/15/15		193,000		217,366
#	Equinox Holdings 144A
	9.50% 2/1/16		221,000		237,575
#	ERAC USA Finance 144A
	5.25% 10/1/20		35,000		37,497
*	Harrah’s Operating
	10.00% 12/15/18		572,000		531,959
#	Icon Health &
	Fitness 144A
	11.875% 10/15/16		108,000		113,670
	Kansas City Southern
	de Mexico
	8.00% 2/1/18		187,000		208,038
	#144A 6.125% 6/15/21		60,000		60,600
	Kansas City Southern Railway
	13.00% 12/15/13		2,000		2,365
*#	Marina District Finance
	144A 9.875% 8/15/18		133,000		139,650
	MGM MIRAGE
	11.125% 11/15/17		2,000		2,330
	11.375% 3/1/18		658,000		759,989
*	Pinnacle Entertainment
	8.75% 5/15/20		198,000		214,335
#	Pokagon Gaming
	Authority 144A
	10.375% 6/15/14		10,000		10,313
	RSC Equipment Rental
	8.25% 2/1/21		135,000		140,063
	10.25% 11/15/19		5,000		5,688
	Ryder System
	3.50% 6/1/17		25,000		25,383
#	Seven Seas Cruises 144A
	9.125% 5/15/19		250,000		258,125
*#	Swift Services
	Holdings 144A
	10.00% 11/15/18		95,000		105,925
*#	Swift Transportation 144A
	12.50% 5/15/17		151,000		162,703
#	United Air Lines 144A
	12.00% 11/1/13		292,000		316,820
	Wyndham Worldwide
	5.625% 3/1/21		10,000		10,164
	5.75% 2/1/18		5,000		5,290
					4,290,008
Services Non-Cyclical – 1.06%
	Allied Waste North America
	6.875% 6/1/17		40,000		43,504
#	Casella Waste Systems
	144A 7.75% 2/15/19		265,000		269,638
	Community Health Systems
	8.875% 7/15/15		240,000		248,400
#	Darling International
	144A 8.50% 12/15/18		125,000		136,875
*#	HCA Holdings 144A
	7.75% 5/15/21		235,000		247,044
	HealthSouth
	7.75% 9/15/22		50,000		53,625
#	Highmark 144A
	4.75% 5/15/21		10,000		10,141
	6.125% 5/15/41		5,000		5,083
	Iron Mountain
	8.375% 8/15/21		140,000		150,500
#	Multiplan 144A
	9.875% 9/1/18		273,000		296,204
*	Radiation Therapy Services
	9.875% 4/15/17		216,000		220,050
	Radnet Management
	10.375% 4/1/18		174,000		181,830
	Republic Services
	4.75% 5/15/23		15,000		15,102
					1,877,996
Technology – 1.43%
*	Advanced Micro Devices
	7.75% 8/1/20		325,000		342,875
	Aspect Software
	10.625% 5/15/17		194,000		210,490
*	First Data
	9.875% 9/24/15		306,000		317,475
	11.25% 3/31/16		260,000		261,950
	Hewlett-Packard
	4.30% 6/1/21		15,000		15,152
*#	iGate 144A
	9.00% 5/1/16		250,000		258,125
#	International Wire Group
	144A 9.75% 4/15/15		155,000		163,525
	MagnaChip Semiconductor
	10.50% 4/15/18		156,000		176,865
#	MedAssets 144A
	8.00% 11/15/18		137,000		141,966
	National Semiconductor
	6.60% 6/15/17		20,000		23,933
#	Seagate HDD Cayman
	144A 7.75% 12/15/18		255,000		269,663
#	Seagate Technology
	International 144A
	10.00% 5/1/14		10,000		11,700
*	SunGard Data Systems
	10.25% 8/15/15		314,000		327,345
	Symantec
	4.20% 9/15/20		5,000		4,870
					2,525,934

(continues) 13

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Telecommunications – 3.90%
	AT&T 4.45% 5/15/21	USD	25,000	$	25,514
	Avaya
	9.75% 11/1/15		40,000		41,750
	#144A 7.00% 4/1/19		255,000		250,538
	PIK 10.125% 11/1/15		160,000		167,200
#	Buccaneer Merger 144A
	9.125% 1/15/19		200,000		215,250
#	Clearwire Communications 144A
	12.00% 12/1/15		408,000		447,269
	*12.00% 12/1/17		315,000		344,531
	Cricket Communications
	7.75% 5/15/16		130,000		138,775
	*7.75% 10/15/20		135,000		133,988
#	Crown Castle Towers
	144A 4.883% 8/15/20		30,000		30,466
#	Digicel Group 144A
	9.125% 1/15/15		120,000		124,500
	10.50% 4/15/18		230,000		261,050
#	EH Holding 144A
	7.625% 6/15/21		210,000		215,775
*	Frontier Communications
	7.125% 3/15/19		120,000		124,650
	Historic TW
	6.875% 6/15/18		20,000		23,690
#	Integra Telecom Holdings
	144A 10.75% 4/15/16		190,000		200,450
	Intelsat Bermuda
	11.25% 2/4/17		640,000		694,399
	PIK 11.50% 2/4/17		273,217		297,465
*	Level 3 Financing
	10.00% 2/1/18		252,000		274,050
	MetroPCS Wireless
	6.625% 11/15/20		165,000		165,000
	*7.875% 9/1/18		90,000		97,313
#	MTS International
	Funding 144A
	8.625% 6/22/20		275,000		315,983
	NII Capital
	*7.625% 4/1/21		130,000		138,613
	10.00% 8/15/16		56,000		64,540
#	PAETEC Holding 144A
	9.875% 12/1/18		165,000		177,788
	Qwest 8.375% 5/1/16		40,000		47,700
	Qwest Communications
	International
	7.50% 2/15/14		85,000		86,381
*#	Satmex Escrow 144A
	9.50% 5/15/17		125,000		128,750
	Sprint Capital
	8.75% 3/15/32		248,000		274,970
#	Telcordia Technologies
	144A 11.00% 5/1/18		415,000		471,024
	Telecom Italia Capital
	5.25% 10/1/15		40,000		42,435
	Telefonica Emisiones
	5.462% 2/16/21		10,000		10,409
	Telesat Canada
	12.50% 11/1/17		164,000		196,800
	Virgin Media Finance
	8.375% 10/15/19		120,000		135,600
#	West 144A
	7.875% 1/15/19		255,000		260,419
	Windstream
	7.50% 4/1/23		205,000		212,175
	7.875% 11/1/17		45,000		49,444
					6,886,654
Utilities – 0.74%
	AES
	7.75% 3/1/14		129,000		141,900
	8.00% 6/1/20		44,000		47,850
	9.75% 4/15/16		10,000		11,625
	Ameren Illinois
	9.75% 11/15/18		80,000		106,183
#	American Transmission
	Systems 144A
	5.25% 1/15/22		25,000		26,841
	CMS Energy
	4.25% 9/30/15		10,000		10,435
	6.25% 2/1/20		5,000		5,478
	Commonwealth Edison
	4.00% 8/1/20		5,000		5,009
	5.80% 3/15/18		5,000		5,681
	Dominion Resources
	4.45% 3/15/21		20,000		20,599
	Duke Energy Carolinas
	3.90% 6/15/21		10,000		10,120
	Elwood Energy
	8.159% 7/5/26		154,853		154,078
	Florida Power
	5.65% 6/15/18		5,000		5,758
*	GenOn Energy
	9.50% 10/15/18		127,000		134,303
	Great Plains Energy
	4.85% 6/1/21		20,000		20,389
#	Ipalco Enterprises 144A
	5.00% 5/1/18		10,000		10,100
*	Mirant Americas
	8.50% 10/1/21		245,000		255,412
	NiSource Finance
	6.40% 3/15/18		10,000		11,488
	*6.80% 1/15/19		5,000		5,855

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Utilities (continued)
	Pennsylvania Electric
	5.20% 4/1/20	USD	25,000	$	26,590
	Public Service Oklahoma
	5.15% 12/1/19		30,000		32,408
#	Puget Energy 144A
	6.00% 9/1/21		25,000		25,000
•	Puget Sound Energy
	6.974% 6/1/67		165,000		168,711
	Sempra Energy
	6.15% 6/15/18		20,000		22,976
	Southern California
	Edison 5.50% 8/15/18		20,000		22,971
•	Wisconsin Energy
	6.25% 5/15/67		10,000		10,137
					1,297,897
Total Corporate Bonds
	(cost $56,648,559)				59,485,293

Non-Agency Asset-Backed Securities – 0.15%
•	Citibank Credit Card
	Issuance Trust Series
	2004-C1 C1
	0.848% 7/15/13		10,000		9,998
•	Citicorp Residential
	Mortgage Securities
	2006-3 A5
	5.948% 11/25/36		100,000		81,873
	Discover Card Master
	Trust Series 2007-A1
	A1 5.65% 3/16/20		100,000		114,916
	John Deere Owner Trust
	Series 2009-A A4
	3.96% 5/16/16		25,000		25,771
	Series 2010-A 4A
	2.13% 10/17/16		15,000		15,364
•	Merrill Auto Trust
	Securitization
	Series 2007-1 A4
	0.258% 12/15/13		8,871		8,869
Total Non-Agency Asset-Backed
	Securities (cost $246,859)				256,791

Non-Agency Collateralized Mortgage Obligations – 0.19%
@•	Bear Stearns ARM Trust
	Series 2007-1 3A2
	5.447% 2/25/47		169,287		24,633
	Citicorp Mortgage Securities
	Series 2006-4 3A1
	5.50% 8/25/21		9,586		9,656
	Series 2007-1 2A1
	5.50% 1/25/22		73,490		73,218
•	Citigroup Mortgage Loan
	Trust Series 2007-AR8
	1A3A 5.714% 8/25/37		71,542		52,985
•	GSR Mortgage Loan Trust
	Series 2006-AR1 3A1
	5.075% 1/25/36		138,798		124,618
•	MASTR ARM Trust
	Series 2006-2 4A1
	4.98% 2/25/36		54,007		50,428
Total Non-Agency Collateralized
	Mortgage Obligations (cost $510,704)				335,538

«Senior Secured Loans – 0.79%
	Brock Holdings III
	10.50% 2/15/18		85,000		87,656
	Endo Pharmaceuticals Holdings
	7.25% 4/10/12		175,000		175,000
	Level 3 Financing
	14.00% 4/11/12		215,000		215,000
	PQ 6.72% 7/30/15		265,000		262,847
	Silgan Holdings
	7.75% 1/20/12		390,000		390,000
	Texas Competitive
	Electric Holdings
	3.50% 10/10/14		310,000		264,514
Total Senior Secured Loans
	(cost $1,371,681)				1,395,017

Sovereign Bonds – 4.92%Δ
Chile – 0.40%
	Chile Government
	International Bond
	5.50% 8/5/20	CLP	330,000,000		712,490
					712,490
Croatia – 0.17%
*#	Croatia Government
	International Bond
	144A 6.75% 11/5/19	USD	280,000		300,885
					300,885
Indonesia – 1.18%
	Indonesia Treasury Bond
	11.00% 11/15/20	IDR	14,399,000,000		2,090,527
					2,090,527
Mexico – 0.48%
	Mexican Bonos
	7.75% 12/14/17	MXN	9,049,700		838,612
					838,612
Panama – 0.47%
	Panama Government
	International Bond
	6.70% 1/26/36	USD	700,000		820,750
					820,750

(continues) 15

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

			Principal	Value
			Amount°	(U.S. $)
Sovereign Bonds (continued)
Peru – 0.23%
	Republic of Peru
	7.35% 7/21/25	USD	340,000	$	413,100
					413,100
Philippines – 0.61%
	Philippine Government
	International Bond
	6.375% 10/23/34		1,000,000		1,085,000
					1,085,000
Poland – 0.62%
	Poland Government Bond
	5.00% 10/24/13	PLN	1,700,000		619,102
	Poland Government
	International Bond
	5.125% 4/21/21	USD	450,000		468,563
					1,087,665
Russia – 0.40%
	Russia-Eurobond
	7.50% 3/31/30		596,850		704,659
					704,659
Turkey – 0.11%
	Turkey Government
	International Bond
	7.375% 2/5/25		170,000		201,663
					201,663
Uruguay – 0.25%
	Uruguay Government
	International Bond
	8.00% 11/18/22		350,000		447,650
					447,650
Total Sovereign Bonds
	(cost $8,396,083)				8,703,001

Supranational Bank – 0.67%
	European Investment
	Bank 9.625% 4/1/15	TRY	1,800,000		1,176,905
Total Supranational Bank
	(cost $1,189,579)				1,176,905

U.S. Treasury Obligations – 0.28%
	U.S. Treasury Bonds
	4.25% 11/15/40	USD	20,000		20,091
	4.75% 2/15/41		20,000		21,838
	U.S. Treasury Notes
	1.75% 5/31/16		315,000		315,984
	*3.125% 5/15/21		140,000		140,919
Total U.S. Treasury Obligations
	(cost $494,587)				498,832

Leveraged Non-Recourse Security – 0.00%
w#@	JPMorgan Fixed Income
	Pass Through Trust
	Series 2007-B
	144A 0.00% 1/15/87		500,000		0
Total Leveraged Non-Recourse
	Security (cost $425,000)				0

		Number of
		Shares
Residual Interest Trust Certificate – 0.00%
=w#@	Freddie Mac Auction Pass
	Through Trust Series
	2007-6 144A		175,000		0
Total Residual Interest Trust
	Certificate (cost $190,466)				0

Exchange-Traded Fund – 2.61%
*	iShares IBOXX $ High Yield
	Corporate Bond Fund		50,000		4,620,000
Total Exchange-Traded Fund
	(cost $4,499,835)				4,620,000

Preferred Stock – 0.83%
	Alabama Power 5.625%		410		10,199
	Ally Financial
	∏•8.50 %		10,000		263,400
	#144A 7.00%		400		386,413
*	Developers Diversified
	Realty 7.50%		1,925		48,606
†	Freddie Mac 6.02%		33,000		87,830
•	GMAC Capital
	Trust I 8.125%		15,000		394,049
•	PNC Financial Services
	Group 8.25%		10,000		10,710
	ProLogis 6.75%		7,050		173,571
*	Vornado Realty 6.625%		3,700		91,945
Total Preferred Stock
	(cost $2,046,059)				1,466,723

		Principal
		Amount°
≠Short-Term Investments – 5.53%
Discount Notes – 5.53%
	Federal Home Loan Bank