Definitive Materials Filed by Investment Companies. (497)
October 30 2013 - 3:04PM
Edgar (US Regulatory)
DELAWARE
GROUP
®
STATE TAX-FREE INCOME TRUST
Delaware Tax-Free Pennsylvania
Fund (the Fund)
Supplement to the Funds Class
A, Class B, and Class C
Statutory Prospectus dated June 28, 2013
The following replaces the
information in the section entitled, What are the Funds fees and expenses?.
What are the Funds fees and
expenses?
The following table describes the
fees and expenses that you may pay if you buy and hold shares of the Fund. You
may qualify for sales-charge discounts if you and your family invest, or agree
to invest in the future, at least $100,000 in Delaware Investments
®
Funds. More information about these and other discounts is available from your
financial advisor, in the Funds prospectus under the section entitled About
your account, and in the Funds statement of additional information under the
section entitled Purchasing shares.
Shareholder fees (fees paid directly
from your investment)
Class
|
|
A
|
|
B
|
|
C
|
Maximum
sales charge (load) imposed on purchases as a
|
|
|
|
|
|
|
percentage
of offering price
|
|
4.50%
|
|
none
|
|
none
|
Maximum contingent deferred sales charge (load) as a
percentage
|
|
|
|
|
|
|
of original purchase price or redemption price, whichever is
lower
|
|
none
|
|
4.00%
1
|
|
1.00%
|
Annual fund operating expenses
(expenses that you pay each year as a percentage of the value of your
investment)
Class
|
|
A
|
|
B
|
|
C
|
Management
fees
|
|
0.55%
|
|
0.55%
|
|
0.55%
|
Distribution and service (12b-1) fees
|
|
0.24%
|
|
1.00%
|
|
1.00%
|
Other
expenses
|
|
0.14%
|
|
0.14%
|
|
0.14%
|
Total annual fund operating expenses
|
|
0.93%
|
|
1.69%
|
|
1.69%
|
Fee waivers
and expense reimbursements
|
|
(0.05%)
2
|
|
(0.80%)
2
|
|
(0.05%)
2
|
Total annual fund operating expenses after fee waivers
and
|
|
|
|
|
|
|
expense reimbursements
|
|
0.88%
|
|
0.89%
|
|
1.64%
|
1
|
If you redeem Class B shares
during the first year after you bought them, you will pay a contingent
deferred sales charge (CDSC) of 4.00%, which declines to 3.00% during the
second year, 2.25% during the third year, 1.50% during the fourth and
fifth years, 1.00% during the sixth year, and 0% thereafter. Class C
shares redeemed within one year of purchase are subject to a 1.00%
CDSC.
|
|
2
|
The Funds investment
manager, Delaware Management Company (Manager), has contractually agreed
to waive all or a portion of its investment advisory fees and/or
pay/reimburse expenses (excluding any 12b-1 plan, taxes, interest, inverse
floater program expenses, short sale and dividend interest expenses,
brokerage fees, certain insurance costs, acquired fund fees and expenses,
and nonroutine expenses or costs, including, but not limited to, those
relating to reorganizations, litigation, conducting shareholder meetings,
and liquidations) in order to prevent annual fund operating expenses from
exceeding, in an aggregate amount, 0.64% of the Funds average daily net
assets from June 28, 2013 through December 29, 2014. The Funds
distributor, Delaware Distributors, L.P. (Distributor), has contracted to
limit the Funds Class B shares 12b-1 fee to no more than 0.25% of
average daily net assets from July 1, 2013 through December 29, 2014.
These waivers and reimbursements may only be terminated by agreement of
the Manager and the Distributor, as applicable, and the Fund.
Additionally, the Funds Class A shares are subject to a blended 12b-1 fee
of 0.10% on all shares acquired prior to June 1, 1992 and 0.25% on all
shares acquired on or after June 1, 1992.
|
Example
This example is intended to help you
compare the cost of investing in the Fund with the cost of investing in other
mutual funds. The example assumes that you invest $10,000 in the Fund for the
time periods indicated and then redeem all of your shares at the end of those
periods. The example also assumes that your investment has a 5% return each year
and reflects the applicable waivers and reimbursements for the 1-year
contractual period and the total operating expenses without waivers for years 2
through 10. Although your actual costs may be higher or lower, based on these
assumptions your costs would be:
|
|
|
|
(if
not
|
|
|
|
(if
not
|
|
|
|
|
|
|
redeemed)
|
|
|
|
redeemed)
|
|
|
Class
|
|
A
|
|
B
|
|
B
|
|
C
|
|
C
|
1
year
|
|
$536
|
|
$91
|
|
$491
|
|
$167
|
|
$267
|
3 years
|
|
$728
|
|
$454
|
|
$679
|
|
$528
|
|
$528
|
5
years
|
|
$937
|
|
$843
|
|
$993
|
|
$913
|
|
$913
|
10 years
|
|
$1,537
|
|
$1,727
|
|
$1,727
|
|
$1,994
|
|
$1,994
|
The following replaces the fourth
bullet in the section entitled, About your account Choosing a share class
Class A.
Class A shares are also subject to an
annual 12b-1 fee no greater than 0.25% of average daily net assets. The Board
adopted a formula for calculating 12b-1 plan expenses for the Funds Class A
shares that went into effect on June 1, 1992. The total 12b-1 fee to be paid by
Class A shareholders of the Fund will be the sum of 0.10% of the average daily
net assets representing the shares that were acquired prior to June 1, 1992 and
0.25% of the average daily net assets representing the shares that were acquired
on or after June 1, 1992. All Class A shareholders will bear the Class A 12b-1
fee at the same rate, the blended rate based upon the allocation of the 0.10%
and 0.25% rates described above. See Dealer compensation below for further
information.
The following replaces the sixth
bullet in the section entitled, About your account Choosing a share class
Class B.
Approximately eight years after you
buy them, Class B shares automatically convert to Class A shares with a 12b-1
fee of no more than 0.25%. Conversion may occur as late as three months after,
as applicable, the eighth anniversary of purchase, during which time Class Bs
higher 12b-1 fee applies.
The following replaces the
information in the section entitled, About your account Dealer compensation.
Dealer compensation
The financial advisor that sells you
shares of the Fund may be eligible to receive the following amounts as
compensation for your investment in the Fund. These amounts are paid by the
Distributor to the securities dealer with whom your financial advisor is
associated.
|
|
Class
A
1
|
|
Class
B
2
|
|
Class
C
3
|
Commission (%)
|
|
|
|
4.00%
|
|
1.00%
|
Investment
less than $100,000
|
|
4.00%
|
|
|
|
|
$100,000 but less than $250,000
|
|
3.00%
|
|
|
|
|
$250,000
but less than $500,000
|
|
2.00%
|
|
|
|
|
$500,000 but less than $1 million
|
|
1.60%
|
|
|
|
|
$1 million
but less than $5 million
|
|
1.00%
|
|
|
|
|
$5 million but less than $25 million
|
|
0.50%
|
|
|
|
|
$25 million
or more
|
|
0.25%
|
|
|
|
|
12b-1 fee to dealer
|
|
0.25%
|
|
0.25%
|
|
1.00%
|
1
|
On sales of Class A shares,
the Distributor reallows to your securities dealer a portion of the
front-end sales charge depending upon the amount you invested. Your
securities dealer may be eligible to receive a 12b-1 fee of up to 0.25% of
the 12b-1 fee applicable to Class A shares (although under the plan
adopted by the Board that went into effect on June 1, 1992 a lesser amount
may be paid).
|
2
|
On sales of Class B shares,
the Distributor may pay your securities dealer an up-front commission of
4.00%. Your securities dealer may also be eligible to receive a 12b-1
service fee of up to 0.25% from the date of purchase. However, the
Distributor has contracted to limit this amount to 0.25% from July 1, 2013
through December 29, 2014. After approximately eight years, Class B shares
automatically convert to Class A shares and dealers may then be eligible
to receive the 12b-1 fee applicable to Class A shares.
|
|
3
|
On sales of Class C shares,
the Distributor may pay your securities dealer an up-front commission of
1.00%. The up-front commission includes an advance of the first years
12b-1 service fee of up to 0.25%. During the first 12 months, the
Distributor retains the full 1.00% 12b-1 fee to partially offset the
up-front commission and the prepaid 0.25% service fee advanced at the time
of purchase. Starting in the 13th month, your securities dealer may be
eligible to receive the full 1.00% 12b-1 fee applicable to Class C.
Alternatively, certain intermediaries may not be eligible to receive the
up-front commission of 1.00%, but may receive the 12b-1 fee for Class C
shares from the date of purchase.
|
Investments in the Fund are not
and will not be deposits with or liabilities of Macquarie Bank Limited ABN 46
008 583 542 and its holding companies, including their subsidiaries or related
companies (the Macquarie Group), and are subject to investment risk, including
possible delays in repayment and loss of income and capital invested. No
Macquarie Group company guarantees or will guarantee the performance of the
Fund, the repayment of capital from the Fund, or any particular rate of return.
Please keep this Supplement
for future reference.
This Supplement is dated October
30, 2013.
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