PHILADELPHIA--(BUSINESS WIRE)--Today, Delaware Investments Dividend and Income Fund, Inc. (NYSE: DDF) (the "Fund") announced that Shawn Lytle, President of Delaware Investments, has been named President and Chief Executive Officer of the Fund. Mr. Lytle will become Director of the Fund effective September 1, 2015.
Shawn Lytle was named President of Delaware Management Holdings, Inc. (Delaware Investments) in June 2015, and is responsible for all aspects of the firm’s business. Mr. Lytle oversees $180 billion in assets under management (as of June 30, 2015) across several distinct investment teams that span all major asset classes and provide investment solutions for a wide variety of individual and institutional clients. Prior to joining the firm, he was regional head of the Americas at UBS Global Asset Management for five years, based in Chicago and New York. Before that, Lytle worked in London for UBS in various roles within the equity group, including deputy global head of equities. Prior to joining UBS in 2002 as a global equities portfolio manager, he worked at JPMorgan Asset Management for 10 years in a variety of roles in London and New York, including global equities client portfolio manager and U.S. mutual fund sales. He earned a bachelor’s degree in marketing from The McDonough School of Business at Georgetown University. Lytle serves as chair elect on the board of directors of the National Association of Securities Professionals (NASP), and he is on the board of directors of the Sustainability Accounting Standards Board (SASB).
The Fund is a diversified closed-end fund. The primary investment objective is to seek high current income; capital appreciation is a secondary objective. The Fund seeks to achieve its objectives by investing, under normal circumstances, at least 65% of its total assets in income-generating equity securities, including dividend-paying common stocks, convertible securities, preferred stocks, and other equity-related securities. Up to 35% of the Fund’s total assets may be invested in nonconvertible debt securities consisting primarily of high yield, high risk corporate bonds. In addition, the Fund uses 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.
The Fund has implemented a managed distribution policy. Under the policy, the Fund is managed with a goal of generating as much of the distribution as possible from net investment income and short-term capital gains. The balance of the distribution will then come from long-term capital gains to the extent permitted, and if necessary, a return of capital.
About Delaware Investments
Delaware Investments, a member of Macquarie Group, is a global asset management firm that offers a wide variety of equity and fixed income solutions for individual and institutional investors. Delaware Investments is supported by the resources of Macquarie Group (ASX: MQG; ADR: MQBKY), a global provider of asset management, investment, banking, financial and advisory services. Visit delawareinvestments.com for more information.
Delaware Investments is the marketing name for Delaware Management Holdings, Inc. and its subsidiaries. Advisory services provided by Delaware Management Business Trust, a registered investment advisor. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. For more information about Delaware Investments, visit delawareinvestments.com or call 800 523-1918.
Any Macquarie Group entity or fund noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and that entity's obligations do not represent deposits or other liabilities of Macquarie Bank Limited (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
© 2015 Delaware Management Holdings, Inc.