Edgar Filing: Delaware Enhanced Global Dividend & Income Fund

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, 2009

Item 1. Reports to Stockholders


	Semiannual Report	Delaware
		Enhanced Global
		Dividend and Income
		Fund
		May 31, 2009










		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

	> Sector and 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		29

	> About the organization		31

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

Mutual fund advisory services provided by Delaware Management Company, a series of Delaware Management
Business Trust, which is a registered investment advisor.

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

Sector and country allocations

Delaware Enhanced Global Dividend and Income Fund

As of May 31, 2009

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
Sector	of Net Assets
Common Stock		42.59	%
Consumer Discretionary		5.22	%
Consumer Staples		4.93	%
Diversified REITs		0.47	%
Energy		4.16	%
Financials		5.02	%
Health Care		4.57	%
Health Care REITs		0.05	%
Industrial REITs		0.46	%
Industrials		4.91	%
Information Technology		3.87	%
Mall REITs		0.32	%
Materials		2.36	%
Mortgage REITs		0.14	%
Multifamily REITs		0.09	%
Office REITs		0.51	%
Shopping Center REITs		0.45	%
Telecommunications		2.38	%
Utilities		2.68	%
Convertible Preferred Stock		3.91	%
Agency Collateralized Mortgage Obligations		0.48	%
Agency Mortgage-Backed Securities		3.82	%
Agency Obligations		1.95	%
Commercial Mortgage-Backed Securities		1.17	%
Convertible Bonds		9.66	%
Aerospace & Defense		0.21	%
Banking, Finance & Insurance		0.64	%
Basic Industry		1.24	%
Cable, Media & Publishing		0.53	%
Computers & Technology		1.40	%
Electronics & Electrical Equipment		0.10	%
Energy		0.33	%
Health Care & Pharmaceuticals		0.75	%
Industrials		0.16	%
Leisure, Lodging & Entertainment		0.23	%
Real Estate		1.71	%
Telecommunications		1.89	%
Transportation		0.47	%
Corporate Bonds		40.22	%
Banking		2.14	%
Basic Industry		4.91	%
Brokerage		1.48	%
Capital Goods		2.24	%
Consumer Cyclical		3.89	%
Consumer Non-Cyclical		2.94	%
Energy		5.42	%
Finance & Investments		1.68	%
Media		2.25	%
Real Estate		0.09	%
Services Cyclical		2.32	%
Services Non-Cyclical		2.67	%
Technology & Electronics		0.71	%
Telecommunications		5.58	%
Utilities		1.90	%
Foreign Agencies		1.48	%
Municipal Bond		0.08	%
Non-Agency Asset-Backed Securities		0.70	%
Non-Agency Collateralized Mortgage Obligations		0.83	%
Senior Secured Loans		1.93	%
Sovereign Debt		11.71	%
Supranational Banks		3.49	%
U.S. Treasury Obligations		0.80	%
Leveraged Non-Recourse Securities		0.00	%
Preferred Stock		0.37	%
Residual Interest Trust Certificates		0.00	%
Discount Note		5.46	%
Securities Lending Collateral		9.07	%
Total Value of Securities		139.72	%
Obligation to Return Securities Lending Collateral		(9.53	%)
Borrowing Under Line of Credit		(33.71	%)
Receivables and Other Assets Net of Liabilities		3.52	%
Total Net Assets		100.00	%

(continues) 1

Sector and country allocations

Delaware Enhanced Global Dividend and Income Fund

	Percentage
Country	of Net Assets
Australia		1.63	%
Austria		0.08	%
Barbados		1.17	%
Bermuda		1.11	%
Brazil		2.14	%
British Virgin Islands		0.13	%
Canada		2.62	%
Cayman Islands		1.07	%
Colombia		0.32	%
Denmark		0.56	%
Finland		0.45	%
France		4.58	%
Germany		1.66	%
Hong Kong		0.41	%
Indonesia		1.41	%
Ireland		0.92	%
Italy		0.94	%
Japan		2.40	%
Luxembourg		3.87	%
Mexico		3.30	%
Netherlands		1.63	%
Norway		0.08	%
Pakistan		0.90	%
Philippines		0.87	%
Republic of Korea		1.66	%
Singapore		1.07	%
Supranational		3.49	%
Sweden		0.34	%
Switzerland		0.85	%
Taiwan		0.51	%
Turkey		1.11	%
United Kingdom		4.26	%
United States		77.65	%
Total		125.19	%

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

May 31, 2009 (Unaudited)

		Number of	Value
		Shares	(U.S. $)
Common Stock – 42.59%v
Consumer Discretionary – 5.22%
*±	Bayerische Motoren Werke	13,922	$	502,486
	Cablevision Systems Class A	1,150		21,885
†	DIRECTV Group	1,500		33,750
*	Disney (Walt)	22,500		544,950
*±	Don Quijote	21,100		371,497
	Gap	28,800		514,080
*	Home Depot	19,200		444,672
*	KB HOME	17,000		255,000
	Mattel	33,200		518,252
	McGraw-Hill Companies	15,500		466,395
*±	PPR	4,352		367,702
*±	Publicis Groupe	13,059		426,070
±	Round One	34,682		320,859
	Target	14,000		550,201
±	Techtronic Industries	622,500		468,120
±	Toyota Motor	12,184		485,820
±	Vivendi	15,606		413,044
±	WPP Group	34,732		259,772
				6,964,555
Consumer Staples – 4.93%
	Archer-Daniels-Midland	13,900		382,528
±	Coca-Cola Amatil	117,767		799,688
	CVS Caremark	17,500		521,500
@±	Greggs	61,810		400,167
	Heinz (H.J.)	14,100		515,778
	Kimberly-Clark	8,700		451,443
	Kraft Foods Class A	24,500		639,695
	Kroger	23,900		544,920
*±	Metro	10,082		545,703
±	Parmalat	307,227		762,760
	Safeway	28,100		569,306
	Wal-Mart Stores	8,900		442,686
				6,576,174
Diversified REITs – 0.47%
±	Corio	2,648		130,710
	Digital Realty Trust	4,400		157,388
	Lexington Reality Trust	26,221		110,128
*±	Unibail-Rodamco	1,399		225,799
				624,025
Energy – 4.16%
	Anadarko Petroleum	12,200		582,916
±	BP	130,020		1,075,391
	Chevron	7,900		526,693
	ConocoPhillips	11,000		504,240
	Devon Energy	8,700		550,188
	Exxon Mobil	6,800		471,580
	Marathon Oil	16,800		535,584
*±	Total	15,327		884,359
†	Transocean	5,300		421,244
				5,552,195
Financials – 5.02%
	Allstate	23,300		599,509
*±	AXA	21,672		406,308
	Bank of New York Mellon	17,500		486,150
	BB&T	21,100		473,062
	Blackstone Group	4,000		43,800
@†	Cardtronics	9,450		30,618
	Comerica	17,400		377,232
	JPMorgan Chase & Co	15,900		586,710
*±	Macquarie Communications
	Infrastructure Group	260,008		507,151
±	Mitsubishi Estate	8,000		132,318
±	Mitsubishi UFJ Financial Group	117,989		748,654
±	Nordea Bank FDR	55,893		449,277
±	Standard Chartered	24,044		492,333
	State Street	11,900		552,755
	SunTrust Banks	28,200		371,394
	Travelers	10,900		443,194
				6,700,465
Health Care – 4.57%
	Abbott Laboratories	9,200		414,552
±	AstraZeneca	10,771		449,355
	Bristol-Myers Squibb	21,100		420,312
	Cardinal Health	12,900		461,175
	Johnson & Johnson	7,900		435,764
	Merck	20,400		562,632
±	Novartis	14,244		569,991
±	Novo Nordisk Class B	10,779		562,037
±	Ono Pharmaceutical	7,700		344,786
	Pfizer	27,800		422,282
	Quest Diagnostics	8,400		438,648
±	Sanofi-Aventis	8,754		558,796
	Wyeth	10,400		466,544
				6,106,874
Health Care REITs – 0.05%
	Nationwide Health Properties	2,800		74,396
				74,396
Industrial REITs – 0.46%
±	Cambridge Industrial Trust	2,167,000		552,040
*±	ING Industrial Fund	307,371		61,805
				613,845
Industrials – 4.91%
*±	Asahi Glass	41,000		301,226
†	BWAY Holding	2,255		32,991
*±	Compagnie de Saint-Gobain	9,524		347,258
±	Deutsche Post	50,790		702,514
*±	Finmeccanica	34,410		486,832
†	Flextronics International	6,400		25,344
	General Electric	25,800		347,784
†	Graphic Packaging Holding	18,081		33,992
	Honeywell International	14,000		464,240
±	Koninklijke Philips Electronics	26,923		509,064
	Northrop Grumman	10,300		490,486
	Pitney Bowes	18,900		432,432
±	Singapore Airlines	45,000		390,287
*±	Teleperformance	20,324		602,277
±†	Tomkins	186,009		429,771

(continues) 3

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Number of	Value
		Shares	(U.S. $)
Common Stock (continued)
Industrials (continued)
*±	Vallourec	3,212	$	405,942
*	Waste Management	20,100		554,559
				6,556,999
Information Technology – 3.87%
±	Canon	12,700		421,330
†	CGI Group Class A	99,428		924,382
†	EMC	52,500		616,875
	Intel	35,400		556,488
	International Business Machines	4,200		446,376
*	Motorola	99,100		600,546
±	Nokia	39,149		600,888
±	Samsung Electronics	1,058		471,919
	Xerox	76,600		520,880
				5,159,684
Malls REITs – 0.32%
*	Simon Property Group	8,086		432,358
				432,358
Materials – 2.36%
†	Agrium	12,100		595,562
	Dow Chemical	34,800		615,264
	duPont (E.I.) deNemours	15,400		438,438
*±	Lafarge	10,018		687,029
±	Linde	5,562		463,698
	Weyerhaeuser	10,300		345,874
				3,145,865
Mortgage REITs – 0.14%
	Annaly Mortgage
	Management	10,600		147,764
	Chimera Investment	12,100		42,229
				189,993
Multifamily REITs – 0.09%
	Camden Property Trust	3,900		117,078
				117,078
Office REITs – 0.51%
	HRPT Properties Trust	42,700		202,825
±	ING UK Real Estate Trust	317,470		153,615
*	Mack-Cali Realty	8,300		205,093
±	Orix REIT	17		75,716
	Parkway Properties	3,500		45,640
				682,889
Shopping Center REITs – 0.45%
	Kimco Realty	16,900		197,561
±	Link REIT	43,500		85,335
±	Macquarie CountryWide Trust	355,587		123,185
	Ramco-Gershenson
	Properties Trust	5,400		48,654
±	Westfield Group	16,989		150,127
				604,862
Telecommunications – 2.38%
	AT&T	17,100		423,909
*	Chunghwa Telecom ADR	35,966		683,713
*±	France Telecom	22,130		539,746
±	Telstra	213,229		534,535
	Verizon Communications	14,500		424,270
±	Vodafone	302,726		569,646
				3,175,819
Utilities – 2.68%
	American Electric Power	14,200		374,028
	Duke Energy	32,600		461,290
	Edison International	14,300		418,132
±	National Grid	83,223		807,166
†	NRG Energy	1,550		34,875
	Progress Energy	13,100		465,181
	Public Service Enterprise Group	15,000		478,050
	Sempra Energy	11,700		534,456
				3,573,178
Total Common Stock
	(cost $82,719,054)			56,851,254

Convertible Preferred Stock – 3.91%
Banking, Finance & Insurance – 0.02%
@	Fannie Mae 8.75%
	exercise price $32.45,
	expiration date 5/13/11	20,000		21,400
				21,400
Health Care & Pharmaceuticals – 2.20%
	Inverness Medical Innovations
	Series B 3.00%
	exercise price $69.32,
	expiration date 12/31/49	6,770		1,439,979
	Mylan 6.50%
	exercise price $17.08,
	expiration date 11/15/10	1,000		1,007,620
	Schering-Plough 6.00%
	exercise price $33.69,
	expiration date 8/13/10	2,250		492,750
				2,940,349
Health Care REITs – 0.48%
	Nationwide Health
	Properties 7.75%
	exercise price $22.25,
	expiration date 12/31/49	5,300		636,000
				636,000
Metals & Mining – 0.18%
	Freeport-McMoRan
	Copper & Gold 6.75%
	exercise price $73.24,
	expiration date 5/1/10	2,900		245,775
				245,775

			Number of	Value
			Shares	(U.S. $)
Convertible Preferred Stock (continued)
Telecommunications – 1.03%
	Crown Castle
	International 6.25%
	exercise price $36.88,
	expiration date 8/15/12		18,000	$	878,625
	Lucent Technologies
	Capital Trust I 7.75%
	exercise price $24.80,
	expiration date 3/15/17		1,000		495,250
					1,373,875
Total Convertible Preferred Stock
	(cost $6,157,675)				5,217,399

			Principal
			Amount°
Agency Collateralized Mortgage Obligations – 0.48%
	Fannie Mae
	Series 2001-50 BA
	7.00% 10/25/41	USD	188,093		205,521
	Series 2003-122
	4.50% 2/25/28		124,539		127,683
	Freddie Mac
	Series 2557 WE
	5.00% 1/15/18		60,000		63,590
	Series 3094 US
	6.75% 9/15/34		111,956		110,188
	Series 3131 MC
	5.50% 4/15/33		40,000		42,407
	Series 3173 PE
	6.00% 4/15/35		65,000		69,174
	Series 3337 PB
	5.50% 7/15/30		25,000		25,915
Total Agency Collateralized
	Mortgage Obligations
	(cost $607,262)				644,478

Agency Mortgage-Backed Securities – 3.82%
Ÿ	Fannie Mae ARM
	5.134% 11/1/35		34,455		35,714
	5.148% 3/1/38		79,390		82,256
	5.398% 4/1/36		42,347		44,196
	6.028% 10/1/36		48,650		50,980
	6.089% 10/1/36		32,184		33,778
	6.311% 4/1/36		179,683		187,040
	Fannie Mae S.F. 15 yr
	5.50% 1/1/23		92,096		96,217
	Fannie Mae S.F. 30 yr
	5.00% 12/1/36		255,870		262,588
	5.00% 12/1/37		32,830		33,656
	5.00% 2/1/38		26,028		26,682
	6.50% 6/1/36		58,223		62,115
	6.50% 10/1/36		47,911		51,114
	6.50% 3/1/37		43,711		46,633
	6.50% 7/1/37		984,411		1,050,155
	6.50% 8/1/37		62,184		66,338
	6.50% 11/1/37		40,628		43,341
	6.50% 12/1/37		60,634		64,684
	Freddie Mac 6.00% 1/1/17		109,310		113,728
Ÿ	Freddie Mac ARM
	5.679% 7/1/36		30,014		31,389
	5.816% 10/1/36		81,840		85,176
	Freddie Mac S.F. 15 yr
	5.00% 6/1/18		29,083		30,205
	5.00% 12/1/22		193,591		200,722
	Freddie Mac S.F. 30 yr
	5.00% 1/1/34		1,239,385		1,272,563
	7.00% 11/1/33		74,641		80,558
	9.00% 9/1/30		83,739		93,310
	Freddie Mac S.F. 30 yr TBA
	4.00% 6/1/39		70,000		68,677
	5.00% 6/1/39		50,000		51,141
	GNMA I S.F. 30 yr
	7.50% 12/15/23		140,022		152,552
	7.50% 1/15/32		106,417		116,272
	9.50% 9/15/17		85,090		93,328
	12.00% 5/15/15		77,183		87,522
	GNMA II S.F. 30 yr
	6.00% 11/20/28		129,502		135,907
	6.50% 2/20/30		228,726		245,954
Total Agency Mortgage-Backed
	Securities (cost $4,850,331)				5,096,491

Agency Obligations – 1.95%
	Fannie Mae 5.00% 2/13/17		595,000		646,316
	Federal Home Loan Bank
	3.625% 10/18/13		50,000		51,962
	4.875% 5/17/17		960,000		1,029,578
*	Freddie Mac
	4.125% 12/21/12		810,000		866,546
Total Agency Obligations
	(cost $2,472,033)				2,594,402

Commercial Mortgage-Backed Securities – 1.17%
#	American Tower Trust 144A
	Series 2007-1A AFX
	5.42% 4/15/37		75,000		66,750
	Series 2007-1A D
	5.957% 4/15/37		25,000		20,625
Ÿ	Bank of America Commercial
	Mortgage Securities
	Series 2004-3 A5
	5.375% 6/10/39		60,000		54,937
	Series 2005-6 AM
	5.179% 9/10/47		25,000		15,707
	Series 2007-3 A4
	5.658% 6/10/49		30,000		21,901
	Series 2007-4 AM
	5.812% 2/10/51		40,000		20,492

(continues) 5

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

			Principal	Value
			Amount°	(U.S. $)
Commercial Mortgage-Backed Securities (continued)
	Bear Stearns Commercial
	Mortgage Securities
	ŸSeries 2005-PW10 A4
	5.405% 12/11/40	USD	35,000	$	31,715
	ŸSeries 2006-PW12 A4
	5.72% 9/11/38		25,000		21,673
	Series 2007-PW15 A4
	5.331% 2/11/44		75,000		58,706
	ŸSeries 2007-T28 A4
	5.742% 9/11/42		65,000		52,745
Ÿ	Credit Suisse First Boston
	Mortgage Securities
	Series 2005-C6 A4
	5.23% 12/15/40		150,000		130,906
	Goldman Sachs Mortgage
	Securities II
	ŸSeries 2004-GG2 A6
	5.396% 8/10/38		60,000		52,721
	Series 2005-GG4 A4A
	4.751% 7/10/39		55,000		46,947
	ŸSeries 2006-GG6 A4
	5.553% 4/10/38		60,000		49,895
	ŸSeries 2007-GG10 A4
	5.799% 8/10/45		70,000		53,532
Ÿ	Greenwich Capital
	Commercial Funding
	Series 2004-GG1 A7
	5.317% 6/10/36		25,000		22,928
Ÿ	JPMorgan Chase Commercial
	Mortgage Securities
	Series 2005-LDP5 A4
	5.179% 12/15/44		80,000		70,597
Ÿ	Merrill Lynch/Countrywide
	Commercial
	Mortgage Trust
	Series 2007-7 A4
	5.749% 6/12/50		150,000		106,059
	Morgan Stanley Capital I
	Series 2005-IQ9 A4
	4.66% 7/15/56		350,000		325,314
	ŸSeries 2006-HQ9 A4
	5.731% 7/12/44		175,000		153,837
	ŸSeries 2007-IQ14 A4
	5.692% 4/15/49		150,000		108,752
	ŸSeries 2007-T27 A4
	5.65% 6/11/42		90,000		75,169
Total Commercial Mortgage-Backed
	Securities (cost $1,682,804)				1,561,908

Convertible Bonds – 9.66%
Aerospace & Defense – 0.21%
	L-3 Communications
	Holdings 3.00%
	exercise price $101.13,
	expiration date 8/1/35		290,000		286,375
					286,375
Banking, Finance & Insurance – 0.64%
	National City 4.00%
	exercise price $482.51,
	expiration date 2/1/11		895,000		855,844
					855,844
Basic Industry – 1.24%
	Rayonier TRS
	Holdings 3.75%
	exercise price $54.82,
	expiration date 10/15/12		1,250,000		1,248,438
#	Sino-Forest 144A 5.00%
	exercise price $20.29,
	expiration date 8/1/13		500,000		412,500
					1,660,938
Cable, Media & Publishing – 0.53%
	General Cable 0.875%
	exercise price $50.36,
	expiration date 11/14/13		750,000		702,188
					702,188
Computers & Technology – 1.40%
	Advanced Micro Devices 6.00%
	exercise price $28.08,
	expiration date 5/1/15		775,000		375,875
	Euronet Worldwide 3.50%
	exercise price $40.48,
	expiration date 10/15/25		900,000		753,750
	Linear Technology 3.125%
	exercise price $47.33,
	expiration date 5/1/27		750,000		735,938
					1,865,563
Electronics & Electrical Equipment – 0.10%
	Flextronics International 1.00%
	exercise price $15.53,
	expiration date 8/1/10		140,000		131,950
					131,950
Energy – 0.33%
	Chesapeake Energy 2.25%
	exercise price $85.89,
	expiration date 12/15/38		750,000		438,750
					438,750
Health Care & Pharmaceuticals – 0.75%
	Hologic 2.00%
	exercise price $38.59,
	expiration date 12/15/37		910,000		637,000
	Medtronic 1.625%
	exercise price $55.41,
	expiration date 4/15/13		400,000		369,000
					1,006,000
Industrials – 0.16%
	Allied Waste Industries 4.25%
	exercise price $45.40,
	expiration date 4/15/34		222,000		216,450
					216,450

			Principal	Value
			Amount°	(U.S. $)
Convertible Bonds (continued)
Leisure, Lodging & Entertainment – 0.23%
#	International Game
	Technology 144A 3.25%
	exercise price $19.97,
	expiration date 5/1/14	USD	275,000	$	308,688
					308,688
Real Estate – 1.71%
#	Digital Realty Trust 144A 5.50%
	exercise price $43.00,
	expiration date 4/15/29		380,000		373,046
#	Host Hotels & Resorts
	144A 3.25%
	exercise price $16.00,
	expiration date 3/15/24		1,100,000		1,080,749
	ProLogis 2.25%
	exercise price $75.98,
	expiration date 4/1/37		230,000		179,975
	Vornado Realty Trust 2.85%
	exercise price $159.04,
	expiration date 3/15/27		750,000		645,000
					2,278,770
Telecommunications – 1.89%
#	Alaska Communications
	System 144A 5.75%
	exercise price $12.90,
	expiration date 3/1/13		1,000,000		725,000
	NII Holdings 3.125%
	exercise price $118.32,
	expiration date 6/15/12		1,100,000		827,749
#	SBA Communications 144A
	4.00% exercise price $30.38,
	expiration date 10/1/14		285,000		291,056
#	Virgin Media 144A 6.50%
	exercise price $19.22,
	expiration date 11/15/16		865,000		673,619
					2,517,424
Transportation – 0.47%
	Bristow Group 3.00%
	exercise price $77.34,
	expiration date 6/15/38		875,000		630,000
					630,000
Total Convertible Bonds
	(cost $12,918,744)				12,898,940

Corporate Bonds – 40.22%
Banking – 2.14%
Ÿ	BAC Capital Trust XIV
	5.63% 12/31/49		205,000		94,575
	Bank of America
	5.125% 11/15/14		100,000		94,429
	6.10% 6/15/17		250,000		219,809
	7.375% 5/15/14		75,000		79,013
	Barclays Bank
	6.75% 5/22/19		100,000		99,326
	BB&T
	4.90% 6/30/17		40,000		34,655
	*5.25% 11/1/19		70,000		61,082
	6.85% 4/30/19		90,000		90,711
	BB&T Capital Trust I
	5.85% 8/18/35		30,000		21,160
	BB&T Capital Trust II
	6.75% 6/7/36		35,000		25,365
	Capital One Financial
	6.15% 9/1/16		50,000		42,086
	7.375% 5/23/14		65,000		67,042
	Credit Suisse/New York
	5.50% 5/1/14		100,000		101,108
	JPMorgan Chase Capital XXV
	6.80% 10/1/37		120,000		101,746
Ÿ	Kazkommerts Finance
	8.625% 7/27/16		1,000,000		362,712
	PNC Funding
	5.25% 11/15/15		100,000		87,366
	5.625% 2/1/17		60,000		52,267
@	Popular North America
	Capital Trust I
	6.564% 9/15/34		130,000		43,191
Ÿ#	Rabobank Nederland 144A
	11.00% 12/29/49		180,000		189,000
#	Royal Bank of Scotland 144A
	2.625% 5/11/12		130,000		131,452
	U.S. Bank North America
	4.80% 4/15/15		35,000		33,918
Ÿ	USB Capital IX
	6.189% 4/15/49		245,000		159,924
	Wachovia 5.75% 6/15/17		15,000		14,361
*	Wells Fargo
	5.625% 12/11/17		55,000		52,434
Ÿ	Wells Fargo Capital XIII
	7.70% 12/29/49		495,000		386,396
	Zions Bancorporation
	5.50% 11/16/15		80,000		54,689
	6.00% 9/15/15		215,000		150,838
					2,850,655
Basic Industry – 4.91%
	Arcelormittal
	6.125% 6/1/18		120,000		102,113
	9.85% 6/1/19		30,000		30,858
	California Steel Industries
	6.125% 3/15/14		135,000		110,363
	Domtar
	7.125% 8/15/15		80,000		66,800
	7.875% 10/15/11		33,000		29,576
	Dow Chemical
	8.55% 5/15/19		80,000		80,125
@#	Evraz Group 144A
	8.25% 11/10/15		1,000,000		727,500
	9.50% 4/24/18		280,000		204,400

(continues) 7

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

			Principal	Value
			Amount°	(U.S. $)
Corporate Bonds (continued)
Basic Industry (continued)
	Freeport McMoRan Copper & Gold
	8.25% 4/1/15	USD	195,000	$	195,223
	8.375% 4/1/17		85,000		84,482
	Georgia-Pacific
	7.70% 6/15/15		75,000		70,313
	8.875% 5/15/31		148,000		126,540
	Huntsman International
	7.375% 1/1/15		55,000		37,194
	*7.875% 11/15/14		110,000		75,900
	Innophos 8.875% 8/15/14		230,000		207,575
@#	Innophos Holding 144A
	9.50% 4/15/12		115,000		96,025
	Lubrizol 8.875% 2/1/19		60,000		66,261
#	MacDermid 144A
	9.50% 4/15/17		280,000		172,200
#	Nalco 144A 8.25% 5/15/17		40,000		40,400
	NewPage 10.00% 5/1/12		90,000		50,850
	Noranda Aluminium
	Acquisition PIK
	5.413% 5/15/15		170,000		90,950
	Norske Skog Canada
	8.625% 6/15/11		210,000		123,375
@#	Norske Skogindustrier 144A
	7.125% 10/15/33		150,000		72,750
	PolyOne 8.875% 5/1/12		15,000		10,163
	Reliance Steel & Aluminum
	6.85% 11/15/36		59,000		33,825
	Rock-Tenn 9.25% 3/15/16		135,000		137,700
	Rockwood Specialties Group
	7.50% 11/15/14		165,000		157,575
#	Ryerson 144A
	Ÿ8.403% 11/1/14		115,000		63,969
	12.00% 11/1/15		65,000		44,200
@#	Sappi Papier Holding 144A
	6.75% 6/15/12		165,000		102,762
	Southern Copper
	7.50% 7/27/35		1,000,000		835,768
@#	Steel Capital 144A
	9.75% 7/29/13		1,100,000		901,999
#	Steel Dynamics 144A
	8.25% 4/15/16		190,000		162,925
#	Teck Resources 144A
	10.25% 5/15/16		60,000		60,825
	10.75% 5/15/19		115,000		118,486
@	Vale Overseas
	6.875% 11/21/36		979,000		887,425
#	Vedanta Resources 144A
	9.50% 7/18/18		205,000		179,375
					6,558,770
Brokerage – 1.48%
	Citigroup
	5.00% 9/15/14		165,000		143,625
	6.125% 5/15/18		45,000		40,213
	6.125% 8/25/36		100,000		74,235
	6.50% 8/19/13		95,000		94,228
	Goldman Sachs Group
	5.95% 1/18/18		70,000		66,858
	6.15% 4/1/18		100,000		96,699
	6.75% 10/1/37		20,000		16,814
	7.50% 2/15/19		50,000		52,703
	Jefferies Group
	6.45% 6/8/27		65,000		41,179
	JPMorgan Chase & Co
	6.30% 4/23/19		130,000		129,573
	LaBranche & Co
	11.00% 5/15/12		180,000		166,050
	Lazard Group
	6.85% 6/15/17		50,000		43,312
	7.125% 5/15/15		9,000		7,862
	Morgan Stanley
	5.30% 3/1/13		110,000		110,409
	5.375% 10/15/15		100,000		94,719
#	Morgan Stanley 144A
	10.09% 5/3/17	BRL	2,000,000		803,355
					1,981,834
Capital Goods – 2.24%
	Associated Materials
	9.75% 4/15/12	USD	145,000		123,250
	Building Materials
	7.75% 8/1/14		155,000		136,400
#	BWAY 144A
	10.00% 4/15/14		315,000		316,181
	Celestica
	7.625% 7/1/13		155,000		151,900
	7.875% 7/1/11		70,000		70,525
	Crown Americas
	7.625% 11/15/13		125,000		122,500
	Flextronics International
	6.25% 11/15/14		85,000		76,500
	Graham Packaging
	9.875% 10/15/14		305,000		272,975
	Graphic Packaging
	International
	8.50% 8/15/11		30,000		29,850
	*9.50% 8/15/13		325,000		305,500
	L-3 Communications
	6.125% 7/15/13		130,000		121,225
#	Moog 144A 7.25% 6/15/18		135,000		127,575
	Owens-Brockway
	Glass Container
	6.75% 12/1/14		100,000		95,250
#	Plastipak Holdings 144A
	8.50% 12/15/15		70,000		60,200
	Pregis 12.375% 10/15/13		30,000		19,200
*	RBS Global/Rexnord
	11.75% 8/1/16		165,000		104,775
*	Sally Holdings
	10.50% 11/15/16		225,000		226,688
	Solo Cup 8.50% 2/15/14		100,000		80,500
	Thermadyne Holdings
	10.00% 2/1/14		195,000		129,675

			Principal	Value
			Amount°	(U.S. $)
Corporate Bonds (continued)
Capital Goods (continued)
	Tyco International Finance
	8.50% 1/15/19	USD	80,000	$	88,452
@‡	Vitro 11.75% 11/1/13		1,000,000		336,250
					2,995,371
Consumer Cyclical – 3.89%
	Beazer Homes USA
	8.625% 5/15/11		60,000		38,850
	CVS Caremark
	4.875% 9/15/14		45,000		45,839
	5.75% 6/1/17		53,000		53,017
	Dave & Buster’s
	11.25% 3/15/14		15,000		12,675
	Denny’s Holdings
	10.00% 10/1/12		75,000		72,750
*	Dollar General
	10.625% 7/15/15		160,000		170,000
	DR Horton
	6.00% 4/15/11		145,000		140,288
	7.875% 8/15/11		135,000		135,000
	Ford Motor Credit
	Ÿ3.889% 1/13/12		135,000		106,819
	7.25% 10/25/11		60,000		51,805
	7.375% 10/28/09		95,000		92,666
	7.80% 6/1/12		295,000		252,072
	8.00% 6/1/14		145,000		117,748
	9.875% 8/10/11		185,000		168,968
#	GMAC 144A
	6.00% 12/15/11		135,000		117,516
	6.625% 5/15/12		110,000		95,211
	6.875% 9/15/11		305,000		273,112
	6.875% 8/28/12		183,000		158,405
	Goodyear Tire & Rubber
	*9.00% 7/1/15		205,000		196,800
	10.50% 5/15/16		60,000		60,000
#	Invista 144A
	9.25% 5/1/12		175,000		164,500
	Kohl’s
	6.25% 12/15/17		15,000		15,302
	6.875% 12/15/37		35,000		32,228
#	Landry’s Restaurants 144A
	14.00% 8/15/11		100,000		93,500
	Levi Strauss 9.75% 1/15/15		196,000		190,120
	Limited Brands
	6.90% 7/15/17		115,000		97,778
	M/I Homes 6.875% 4/1/12		90,000		72,450
	Macy’s Retail Holdings
	8.875% 7/15/15		195,000		188,095
	10.625% 11/1/10		65,000		66,562
	Meritage Homes
	6.25% 3/15/15		35,000		26,513
	7.00% 5/1/14		145,000		113,825
	Mobile Mini 6.875% 5/1/15		125,000		102,813
	Mohawk Industries
	6.625% 1/15/16		115,000		99,409
	New Albertson’s
	7.25% 5/1/13		65,000		62,725
	Nordstrom 6.75% 6/1/14		50,000		50,382
	Ryland Group
	6.875% 6/15/13		155,000		148,800
	8.40% 5/15/17		140,000		136,500
#	Sealy Mattress 144A
	10.875% 4/15/16		55,000		56,650
	Target
	4.00% 6/15/13		60,000		59,878
	7.00% 1/15/38		610,000		640,736
	Toll 8.25% 12/1/11		41,000		41,205
	Toys R US 7.625% 8/1/11		100,000		76,500
#	TRW Automotive 144A
	*7.00% 3/15/14		100,000		74,000
	7.25% 3/15/17		100,000		70,500
	VF 6.45% 11/1/37		35,000		30,684
	Wal-Mart Stores
	3.20% 5/15/14		30,000		30,092
	6.50% 8/15/37		15,000		16,152
	Yum Brands 6.875% 11/15/37		85,000		75,838
					5,193,278
Consumer Non-Cyclical – 2.94%
	Alliance One International
	8.50% 5/15/12		35,000		32,725
	11.00% 5/15/12		50,000		50,625
@#	AmBev International Finance
	144A 9.50% 7/24/17	BRL	1,189,000		544,096
	Amgen
	5.70% 2/1/19	USD	5,000		5,163
	6.375% 6/1/37		15,000		15,316
	6.90% 6/1/38		75,000		81,757
#	Anheuser-Busch InBev
	Worldwide 144A
	7.75% 1/15/19		70,000		75,424
	8.20% 1/15/39		100,000		106,952
	Beckman Coulter
	6.00% 6/1/15		15,000		15,068
	7.00% 6/1/19		15,000		15,383
	ConAgra Foods
	5.875% 4/15/14		120,000		125,664
*	Constellation Brands
	8.125% 1/15/12		160,000		160,000
	Cornell 10.75% 7/1/12		60,000		59,400
	Cott Beverages USA
	8.00% 12/15/11		140,000		121,100
	Del Monte 6.75% 2/15/15		30,000		28,575
	Delhaize America
	9.00% 4/15/31		110,000		121,196
	Delhaize Group
	5.875% 2/1/14		10,000		10,072
	6.50% 6/15/17		30,000		29,458

(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)
#	Dole Food 144A
	13.875% 3/15/14	USD	140,000	$	150,500
	DR Pepper Snapple Group
	6.12% 5/1/13		15,000		15,348
#	Ingles Markets 144A
	8.875% 5/15/17		115,000		113,706
	Iron Mountain
	6.625% 1/1/16		85,000		79,050
	8.00% 6/15/20		155,000		144,150
*	Jarden 7.50% 5/1/17		65,000		56,550
#	JBS USA Finance 144A
	11.625% 5/1/14		170,000		164,050
	Johnsondiversey Holding
	10.67% 5/15/13		160,000		126,400
	Kellogg 4.45% 5/30/16		20,000		19,862
	Kroger
	6.80% 12/15/18		15,000		15,923
	7.50% 1/15/14		60,000		67,278
	LVB Acquisition
	10.00% 10/15/17		170,000		174,675
	11.625% 10/15/17		40,000		39,600
	Mckesson
	5.70% 3/1/17		5,000		4,850
	7.50% 2/15/19		100,000		110,548
	Medco Health Solutions
	7.125% 3/15/18		50,000		49,928
	National Beef Packing
	10.50% 8/1/11		145,000		145,000
	Pfizer 7.20% 3/15/39		60,000		68,056
	Schering-Plough
	6.55% 9/15/37		10,000		10,184
	Smithfield Foods
	7.75% 5/15/13		165,000		125,400
	Supervalu 8.00% 5/1/16		30,000		29,550
	Tenet Healthcare
	7.375% 2/1/13		195,000		188,663
#	Tyson Foods 144A
	10.50% 3/1/14		105,000		111,825
	Visant Holding
	8.75% 12/1/13		180,000		175,050
	Wyeth 5.50% 2/1/14		125,000		133,854
					3,917,974
Energy – 5.42%
	AmeriGas Partners
	7.125% 5/20/16		95,000		88,469
	Anadarko Petroleum
	8.70% 3/15/19		60,000		66,922
	Berry Petroleum
	10.25% 6/1/14		60,000		59,175
	Chesapeake Energy
	6.375% 6/15/15		170,000		146,625
	7.00% 8/15/14		40,000		36,500
	9.50% 2/15/15		140,000		138,950
	Complete Production Service
	8.00% 12/15/16		130,000		105,950
	ConocoPhillips
	4.60% 1/15/15		40,000		40,923
	6.00% 1/15/20		25,000		26,001
#	Copano Energy 144A
	7.75% 6/1/18		125,000		111,250
	Denbury Resources
	9.75% 3/1/16		100,000		102,500
	Dynergy Holdings
	7.75% 6/1/19		270,000		197,775
	El Paso
	6.875% 6/15/14		145,000		138,049
	7.00% 6/15/17		205,000		193,036
	7.25% 6/1/18		15,000		13,891
	8.25% 2/15/16		25,000		24,938
	Enbridge Energy Partners
	9.875% 3/1/19		40,000		44,965
	Energy Transfer Partners
	9.70% 3/15/19		35,000		40,769
	Enterprise Products
	Operating
	5.00% 3/1/15		25,000		23,027
	6.30% 9/15/17		30,000		28,884
	6.875% 3/1/33		65,000		58,502
	EOG Resources
	5.625% 6/1/19		30,000		30,768
	Forest Oil 7.25% 6/15/19		90,000		77,850
	Geophysique-Veritas
	7.75% 5/15/17		175,000		154,875
#	Gulfstream Natural
	Gas System 144A
	6.95% 6/1/16		30,000		30,725
	Halliburton 7.45% 9/15/39		35,000		38,210
#	Helix Energy Solutions Group
	144A 9.50% 1/15/16		235,000		195,050
#	Hilcorp Energy I 144A
	7.75% 11/1/15		220,000		190,300
	Husky Energy
	7.25% 12/15/19		45,000		47,048
	International Coal Group
	10.25% 7/15/14		180,000		125,100
	Key Energy Services
	8.375% 12/1/14		250,000		221,250
	Kinder Morgan Energy
	Partners
	6.85% 2/15/20		50,000		49,836
	9.00% 2/1/19		10,000		11,296
	Lukoil International Finance B
	6.356% 6/7/17		1,000,000		835,000
	Mariner Energy
	8.00% 5/15/17		270,000		214,650

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Energy (continued)
	Markwest Energy
	Partners/Finance
	8.75% 4/15/18	USD	125,000	$	104,375
	Massey Energy
	6.875% 12/15/13		310,000		275,900
	Noble Energy 8.25% 3/1/19		80,000		87,288
	OPTI Canada
	7.875% 12/15/14		165,000		112,200
#	PetroHawk Energy 144A
	7.875% 6/1/15		225,000		209,813
@	Petroleum Development
	12.00% 2/15/18		145,000		108,750
	Plains All American Pipeline
	6.50% 5/1/18		70,000		67,725
	8.75% 5/1/19		45,000		49,890
	Plains Exploration
	& Production
	7.00% 3/15/17		75,000		65,625
	Range Resources
	7.25% 5/1/18		130,000		122,363
	Regency Energy Partners
	8.375% 12/15/13		85,000		81,175
#	SandRidge Energy 144A
	9.875% 5/15/16		80,000		76,600
	StatoilHydro 5.25% 4/15/19		40,000		40,483
	Talisman Energy
	7.75% 6/1/19		40,000		42,008
	TNK-BP Finance
	7.875% 3/13/18		2,000,000		1,665,000
	Weatherford International
	5.95% 6/15/12		25,000		24,658
	6.80% 6/15/37		20,000		16,726
	7.00% 3/15/38		45,000		37,962
	9.875% 3/1/39		5,000		5,617
	Whiting Petroleum
	7.25% 5/1/13		145,000		133,400
					7,236,617
Finance & Investments – 1.68%
@	Cardtronics 9.25% 8/15/13		270,000		238,950
	CIT Group
	4.75% 12/15/10		40,000		34,042
	5.40% 1/30/16		45,000		29,677
	5.65% 2/13/17		185,000		122,547
	5.85% 9/15/16		350,000		231,312
#	CIT Group 144A
	12.00% 12/18/18		165,000		90,692
	General Electric Capital
	5.875% 1/14/38		135,000		109,630
	6.875% 1/10/39		105,000		96,822
·#	ILFC E-Capital Trust II 144A
	6.25% 12/21/65		50,000		19,750
	Inergy Finance
	6.875% 12/15/14		155,000		142,600
	International Lease Finance
	5.25% 1/10/13		60,000		46,748
	5.35% 3/1/12		65,000		48,962
	5.55% 9/5/12		90,000		71,009
	5.875% 5/1/13		30,000		23,342
	5.625% 9/20/13		100,000		78,018
	6.625% 11/15/13		50,000		38,175
·#	Liberty Mutual Group 144A
	10.75% 6/15/58		240,000		149,016
	MetLife
	6.40% 12/15/36		360,000		256,266
	6.75% 6/1/16		55,000		56,045
	6.817% 8/15/18		15,000		15,122
·#	Metlife Capital Trust X 144A
	9.25% 4/8/38		125,000		106,486
@Õ	Montpelier Re Holdings
	6.125% 8/15/13		15,000		10,968
@#	Nuveen Investments 144A
	10.50% 11/15/15		340,000		183,600
	SLM 8.45% 6/15/18		70,000		48,016
					2,247,795
Media – 2.25%
‡#	Charter Communications
	Operating 144A
	*10.00% 4/30/12		45,000		43,425
	*10.375% 4/30/14		95,000		90,725
	10.875% 9/15/14		460,000		476,100
	Comcast
	4.95% 6/15/16		25,000		23,937
	5.85% 11/15/15		31,000		31,177
	6.30% 11/15/17		10,000		10,268
	6.50% 1/15/15		31,000		32,112
#	COX Communications 144A
	6.25% 6/1/18		100,000		96,376
	8.375% 3/1/39		25,000		26,332
	DirecTV Holdings
	7.625% 5/15/16		115,000		111,838
	Echostar DBS
	7.125% 2/1/16		235,000		217,375
@	Grupo Televisa
	8.49% 5/11/37	MXN	10,000,000		576,287
	Interpublic Group
	6.25% 11/15/14	USD	110,000		94,325
	Lamar Media
	*6.625% 8/15/15		105,000		89,775
	6.625% 8/15/15		140,000		114,800
	Mediacom Capital
	9.50% 1/15/13		105,000		100,800
	Nielsen Finance
	10.00% 8/1/14		110,000		105,325
#	Nielsen Finance 144A
	11.625% 2/1/14		50,000		49,750
	Quebecor Media
	7.75% 3/15/16		100,000		89,250

(continues) 11

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Media (continued)
#	Rainbow National
	Services 144A
	10.375% 9/1/14	USD	65,000	$	67,356
	Time Warner Cable
	6.75% 7/1/18		40,000		41,389
	7.50% 4/1/14		110,000		119,433
#	UPC Holding 144A
	9.875% 4/15/18		100,000		97,000
	Videotron 6.375% 12/15/15		95,000		86,450
#	Videotron 144A
	9.125% 4/15/18		120,000		124,800
#	Vivendi 144A
	6.625% 4/4/18		95,000		89,035
					3,005,440
Real Estate – 0.09%
	Regency Centers
	5.875% 6/15/17		35,000		25,505
	Ventas Realty 6.50% 6/1/16		105,000		96,075
					121,580
Services Cyclical – 2.32%
*	ARMARK 8.50% 2/1/15		280,000		268,449
#	Ashtead Capital 144A
	9.00% 8/15/16		100,000		74,500
	Corrections Corporation
	of America
	6.25% 3/15/13		115,000		109,538
	CSX
	6.25% 3/15/18		35,000		33,638
	7.375% 2/1/19		15,000		15,553
	7.45% 4/1/38		65,000		63,082
	7.90% 5/1/17		15,000		15,887
	Delta Air Lines
	7.92% 11/18/10		25,000		22,000
#	Erac USA Finance 144A
	6.375% 10/15/17		115,000		96,738
@#	Galaxy Entertainment
	Finance 144A
	9.875% 12/15/12		205,000		171,175
	Gaylord Entertainment
	6.75% 11/15/14		80,000		61,200
	8.00% 11/15/13		180,000		149,175
	Global Cash Access
	8.75% 3/15/12		185,000		182,225
#	Harrah‘s Operating Escrow
	144A 11.25% 6/1/17		194,000		189,150
	Hertz
	8.875% 1/1/14		150,000		137,250
	*10.50% 1/1/16		85,000		74,375
	Kansas City Southern
	de Mexico
	9.375% 5/1/12		150,000		135,375
	Lender Process Services
	8.125% 7/1/16		105,000		103,950
*#	MGM MIRAGE 144A
	10.375% 5/15/14		60,000		62,100
	11.125% 11/15/17		80,000		84,200
	13.00% 11/15/13		225,000		246,937
	Pinnacle Entertainment
	7.50% 6/15/15		115,000		96,600
	8.75% 10/1/13		150,000		148,500
@#	Pokagon Gaming
	Authority 144A
	10.375% 6/15/14		210,000		203,700
	RSC Equipment Rental
	9.50% 12/1/14		155,000		121,675
@#	Seminole Indian Tribe of
	Florida 144A
	7.804% 10/1/20		160,000		134,027
	8.03% 10/1/20		55,000		44,653
#	Shingle Springs Tribal
	Gaming Authority 144A
	9.375% 6/15/15		80,000		46,800
					3,092,452
Services Non-Cyclical – 2.67%
	Alliance Imaging
	7.25% 12/15/12		120,000		118,200
	Allied Waste North America
	6.875% 6/1/17		10,000		9,665
	7.125% 5/15/16		25,000		24,470
	Bausch & Lomb
	9.875% 11/1/15		205,000		188,088
	Browning-Ferris Industries
	7.40% 9/15/35		125,000		115,680
	Casella Waste Systems
	9.75% 2/1/13		315,000		263,025
*	Community Health Systems
	8.875% 7/15/15		350,000		347,813
	Covidien International Finance
	6.00% 10/15/17		9,000		9,513
	6.55% 10/15/37		105,000		108,624
	Elan Finance
	7.75% 11/15/11		50,000		45,250
	8.875% 12/1/13		150,000		129,750
	HCA
	6.50% 2/15/16		250,000		192,500
	9.25% 11/15/16		525,000		517,124
·	HealthSouth
	8.323% 6/15/14		250,000		231,250
	Hospira 6.40% 5/15/15		65,000		66,144
	Inverness Medical
	Innovations
	9.00% 5/15/16		80,000		77,000
*	Psychiatric Solutions
	7.75% 7/15/15		140,000		126,700
#	Psychiatric Solutions 144A
	7.75% 7/15/15		60,000		53,700

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Services Non-Cyclical (continued)
	Quest Diagnostics
	5.45% 11/1/15	USD	120,000	$	110,641
	6.40% 7/1/17		10,000		9,607
	Select Medical
	7.625% 2/1/15		345,000		274,275
	UnitedHealth Group
	5.50% 11/15/12		80,000		81,930
	5.80% 3/15/36		50,000		37,684
	Universal Hospital Services PIK
	8.50% 6/1/15		120,000		115,800
	US Oncology 9.00% 8/15/12		100,000		100,500
	US Oncology Holdings
	6.904% 3/15/12		75,000		51,375
	Waste Management
	7.10% 8/1/26		35,000		31,461
	7.375% 8/1/10		10,000		10,481
	7.375% 3/11/19		5,000		5,143
	WellPoint
	5.00% 1/15/11		60,000		61,357
	5.85% 1/15/36		50,000		38,423
	5.95% 12/15/34		10,000		8,052
					3,561,225
Technology & Electronics – 0.71%
	Amkor Technologies
	7.75% 5/15/13		90,000		80,888
	Anixter 10.00% 3/15/14		75,000		74,625
	Avago Technologies Finance
	10.125% 12/1/13		115,000		111,119
	Cisco Systems
	5.90% 2/15/39		55,000		53,457
	National Semiconductor
	6.60% 6/15/17		80,000		67,740
	Oracle 6.50% 4/15/38		25,000		26,330
	Sanmina-SCI 8.125% 3/1/16		161,000		90,965
	Sungard Data Systems
	9.125% 8/15/13		166,000		160,605
	10.25% 8/15/15		250,000		228,124
	Xerox 8.25% 5/15/14		50,000		50,799
					944,652
Telecommunications – 5.58%
	AT&T Wireless
	8.125% 5/1/12		125,000		139,103
	Cincinnati Bell
	7.00% 2/15/15		155,000		142,988
	Citizens Communications
	6.25% 1/15/13		90,000		84,713
	7.125% 3/15/19		225,000		199,688
	Cricket Communications
	9.375% 11/1/14		205,000		205,000
#	Cricket Communications
	144A 7.75% 5/15/16		90,000		87,413
	Crown Castle International
	9.00% 1/15/15		85,000		86,275
#	CSC Holdings 144A
	8.50% 4/15/14		13,000		13,000
	8.50% 6/15/15		210,000		207,900
	Deutsche Telekom
	International Finance
	5.25% 7/22/13		45,000		46,168
*#	Digicel 144A 9.25% 9/1/12		100,000		96,000
#	Digicel Group 144A
	8.875% 1/15/15		1,100,000		885,499
#	DigitalGlobe 144A
	10.50% 5/1/14		90,000		92,925
#	Expedia 144A 8.50% 7/1/16		110,000		105,050
	Frontier Communications
	8.25% 5/1/14		75,000		73,688
	GCI 7.25% 2/15/14		85,000		77,456
	Hughes Network Systems
	9.50% 4/15/14		260,000		252,199
	Inmarsat Finance
	10.375% 11/15/12		235,000		243,813
	Intelsat Jackson Holdings
	11.25% 6/15/16		365,000		375,949
#	Intelsat Subsidiary Holding
	144A 8.875% 1/15/15		70,000		69,300
	Lucent Technologies
	6.45% 3/15/29		200,000		115,000
	MetroPCS Wireless
	9.25% 11/1/14		268,000		270,344
	Nextel Communications
	7.375% 8/1/15		255,000		203,363
#	Nordic Telephone
	Holdings 144A
	8.875% 5/1/16		185,000		185,925
#	Qwest 144A 8.375% 5/1/16		130,000		128,375
	Qwest Communications
	International
	7.50% 2/15/14		85,000		78,625
	Rogers Communications
	6.80% 8/15/18		35,000		37,433
	Sprint Nextel 6.00% 12/1/16		560,000		457,799
	Telecom Italia Capital
	4.00% 1/15/10		30,000		30,061
	4.95% 9/30/14		75,000		71,276
	5.25% 10/1/15		30,000		27,505
	6.20% 7/18/11		45,000		46,478
#	Telesat Canada 144A
	11.00% 11/1/15		120,000		117,000
	12.50% 11/1/17		140,000		123,900
	Time Warner Telecom
	Holdings
	9.25% 2/15/14		185,000		186,388
	Verizon Communications
	6.10% 4/15/18		10,000		10,422
	6.35% 4/1/19		67,000		70,535
#	Verizon Wireless 144A
	5.55% 2/1/14		105,000		111,152
@#	Vimpelcom 144A
	9.125% 4/30/18		1,255,000		1,051,062

(continues) 13

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Corporate Bonds (continued)
Telecommunications (continued)
	Virgin Media Finance
	8.75% 4/15/14	USD	145,000	$	140,650
	Vodafone Group
	5.00% 9/15/15		20,000		20,061
	5.375% 1/30/15		145,000		147,619
#	Wind Acquisition Finance
	144A 10.75% 12/1/15		150,000		158,250
	Windstream 8.125% 8/1/13		170,000		168,088
					7,441,438
Utilities – 1.90%
	AES
	7.75% 3/1/14		105,000		100,538
	8.00% 10/15/17		30,000		28,050
#	AES 144A 8.00% 6/1/20		155,000		137,175
	Ameren 8.875% 5/15/14		15,000		15,525
	Columbus Southern Power
	6.05% 5/1/18		20,000		19,606
	Commonwealth Edison
	5.90% 3/15/36		20,000		17,555
	6.15% 9/15/17		40,000		40,664
	Edison Mission Energy
	*7.00% 5/15/17		10,000		7,300
	7.50% 6/15/13		80,000		67,800
	Elwood Energy
	8.159% 7/5/26		171,700		140,339
	Illinois Power
	6.125% 11/15/17		85,000		81,924
	9.75% 11/15/18		15,000		16,672
	Indiana Michigan Power
	7.00% 3/15/19		25,000		25,998
	Jersey Central Power & Light
	7.35% 2/1/19		80,000		84,273
	Korea Southern Power
	5.375% 4/18/13		630,000		604,650
	Mirant Americas Generation
	8.50% 10/1/21		215,000		179,524
w	Mirant Mid Atlantic Pass
	Through Trust A
	8.625% 6/30/12		100,783		98,767
	NRG Energy
	7.375% 2/1/16		265,000		250,093
	7.375% 1/15/17		65,000		61,263
	Orion Power Holdings
	12.00% 5/1/10		205,000		212,687
	Peco Energy
	5.00% 10/1/14		35,000		36,829
	5.35% 3/1/18		20,000		20,079
	PPL Electric Utilities
	7.125% 11/30/13		40,000		44,566
	RRI Energy 6.75% 12/15/14		60,000		58,050
	San Diego Gas & Electric
	6.00% 6/1/39		40,000		40,804
	Sempra Energy
	6.50% 6/1/16		50,000		51,085
*	Texas Competitive
	Electric Holdings
	10.25% 11/1/15		160,000		95,600
					2,537,416
Total Corporate Bonds
	(cost $57,206,072)				53,686,497

Foreign Agencies – 1.48%
Luxembourg – 0.75%
@#	Gazprom 144A
	8.625% 4/28/34		1,000,000		995,000
					995,000
Republic of Korea – 0.03%
	Korea Development Bank
	5.30% 1/17/13		45,000		44,737
					44,737
United States – 0.70%
	Pemex Project Funding
	Master Trust
	6.625% 6/15/35		1,000,000		930,485
					930,485
Total Foreign Agencies
	(cost $2,298,499)				1,970,222

Municipal Bond – 0.08%
	California State
	7.55% 4/1/39		110,000		107,876
Total Municipal Bond
	(cost $112,530)				107,876

Non-Agency Asset-Backed Securities – 0.70%
	Capital Auto Receivables Asset
	Trust Series 2007-3 A3A
	5.02% 9/15/11		59,106		60,132
	Caterpillar Financial
	Asset Trust
	Series 2007-A A3A
	5.34% 6/25/12		14,820		15,106
	Series 2008-A A3
	4.94% 4/25/14		60,000		60,031
@	Centex Home Equity
	Series 2005-D AF4
	5.27% 10/25/35		150,000		140,154
	Chase Issuance Trust
	Series 2005-A7 A7
	4.55% 3/15/13		45,000		46,694
	Citicorp Residential
	Mortgage Securities
	Series 2006-3 A5
	5.948% 11/25/36		100,000		50,773

		Principal		Value
		Amount°		(U.S. $)
Non-Agency Asset-Backed Securities (continued)
	CNH Equipment Trust
	Series 2008-A A3
	4.12% 5/15/12	USD	20,000	$	20,167
	Series 2008-A A4
	4.93% 8/15/14		30,000		29,394
	Series 2008-B A3A
	4.78% 7/16/12		30,000		30,416
	Discover Card Master Trust
	Series 2007-A1 A1
	5.65% 3/16/20		100,000		94,365
@#	Dunkin Securitization
	Series 2006-1 A2 144A
	5.779% 6/20/31		150,000		108,874
	Harley-Davidson
	Motorcycle Trust
	Series 2005-2 A2
	4.07% 2/15/12		59,410		58,975
	Series 2006-2 A2
	5.35% 3/15/13		97,626		100,328
	Hyundai Auto
	Receivables Trust
	Series 2007-A A3A
	5.04% 1/17/12		14,902		15,189
	Series 2008-A A3
	4.93% 12/17/12		30,000		30,567
	John Deere Owner Trust
	Series 2008-A A3
	4.18% 6/15/12		35,000		35,311
·	MBNA Credit Card Master
	Note Trust
	Series 2005-A4
	0.384% 11/15/12		30,000		29,651
Total Non-Agency Asset-Backed
	Securities (cost $1,010,046)				926,127

Non-Agency Collateralized Mortgage Obligations – 0.83%
@·	Bear Stearns ARM Trust
	Series 2007-1 3A2
	5.75% 2/25/47		252,405		78,102
	Citicorp Mortgage Securities
	Series 2006-4 3A1
	5.50% 8/25/21		46,798		40,868
	Series 2007-1 2A1
	5.50% 1/25/22		270,784		238,028
	·Series 2007-AR8 1A3A
	6.031% 8/25/37		88,322		45,779
@w·	Countrywide Home Loan
	Mortgage Pass Through
	Trust Series 2004-HYB4 M
	4.55% 9/20/34		19,484		11,226
·	First Horizon Asset Securities
	Series 2007-AR2 1A1
	5.845% 8/25/37		137,830		80,584
	Series 2007-AR3 2A2
	6.299% 11/25/37		108,827		68,193
·	GSR Mortgage Loan Trust
	Series 2006-AR1 3A1
	5.352% 1/25/36		180,224		119,170
·	JPMorgan Mortgage Trust
	Series 2004-A5 4A2
	4.81% 12/25/34		266,849		233,646
·	MASTR ARMs Trust
	Series 2006-2 4A1
	4.986% 2/25/36		104,438		80,495
·	Wells Fargo Mortgage-
	Backed Securities Trust
	Series 2005-AR2 2A1
	4.551% 3/25/35		81,050		69,969
	Series 2005-AR16 6A4
	5.001% 10/25/35		66,658		27,279
	Series 2006-AR14 2A4
	6.076% 10/25/36		60,825		16,950
Total Non-Agency Collateralized
	Mortgage Obligations
	(cost $1,660,426)				1,110,289

« Senior Secured Loans – 1.93%
	Calpine Term Tranche Loan T1
	4.095% 3/29/14		110,000		96,021
	Energy Futures Holdings
	3.882% 10/10/14		519,520		360,957
	Flextronics International
	Term Tranche Loan A2
	2.678% 10/1/14		80,565		65,056
	Term Tranche Loan A3
	2.678% 10/1/14		93,993		75,899
	Ford Motor
	3.603% 12/15/13		517,529		374,401
	General Motors
	8.00% 11/29/13		611,624		585,634
	Northwest Airlines
	2.36% 8/21/13		110,000		102,988
	Talecris Biotherapeutics 2nd Lien
	7.42% 12/6/14		500,000		441,668
	Toys R US 4.566% 7/19/12		310,000		256,525
	Univision Communications
	2.678% 9/29/14		315,000		218,728
Total Senior Secured Loans
	(cost $1,984,693)				2,577,877

Sovereign Debt – 11.71%D
Barbados – 1.17%
#	Republic of Barbados 144A
	6.625% 12/5/35	USD	2,000,000		1,558,000
					1,558,000
Brazil – 2.13%
	Banco Nacional de
	Desenvolvime
	Economico e Social
	6.369% 6/16/18		500,000		508,750
	Federal Republic of Brazil
	10.25% 1/10/28	BRL	2,000,000		1,032,160
	11.00% 8/17/40	USD	1,000,000		1,310,000
					2,850,910

(continues) 15

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

		Principal		Value
		Amount°		(U.S. $)
Sovereign Debt (continued)
Canada – 0.05%
	Export Development Canada
	3.125% 4/24/14	USD	65,000	$	65,445
					65,445
Colombia – 0.32%
#	Santa Fe de Bogota D.C. 144A
	9.75% 7/26/28	COP	1,000,000,000		423,237
					423,237
Indonesia – 1.41%
#	Republic of Indonesia144A
	7.75% 1/17/38	USD	2,000,000		1,880,000
					1,880,000
Mexico – 2.52%
	Mexican Bonos
	9.50% 12/18/14	MXN	40,000,000		3,359,939
					3,359,939
Pakistan – 0.90%
@#	Republic of Pakistan 144A
	6.875% 6/1/17	USD	2,000,000		1,200,000
					1,200,000
Philippines – 0.87%
*	Republic of Philippines
	8.375% 6/17/19		1,000,000		1,162,500
					1,162,500
Republic of Korea – 0.82%
	Export-Import Bank Korea
	8.125% 1/21/14		1,000,000		1,100,710
					1,100,710
Turkey – 1.11%
	Republic of Turkey
	11.875% 1/15/30		1,000,000		1,487,500
					1,487,500
United Kingdom – 0.41%
@#	CS International for City of
	Kyiv Ukraine 144A
	8.25% 11/26/12		1,000,000		545,000
					545,000
Total Sovereign Debt
	(cost $17,427,401)				15,633,241

Supranational Banks – 3.49%
	European Bank for
	Reconstruction &
	Development
	7.00% 7/30/12	IDR	41,000,000		909,057
	European Investment Bank
	3.125% 6/4/14	USD	35,000		35,116
	8.00% 10/21/13	ZAR	6,880,000		827,063
	11.25% 2/14/13	BRL	1,800,000		944,246
	Inter-American
	Development Bank
	9.00% 8/6/10	BRL	2,081,000		1,054,895
	International Bank for
	Reconstruction &
	Development
	9.75% 8/2/10	ZAR	7,000,000		891,244
Total Supranational Banks
	(cost $5,121,733)				4,661,621

U.S. Treasury Obligations – 0.80%
	U.S. Treasury Notes
	2.25% 5/31/14	USD	130,000		129,441
	*3.125% 5/15/19		970,000		942,572
Total U.S. Treasury Obligations
	(cost $1,089,289)				1,072,013

Leveraged Non-Recourse Securities – 0.00%
@w#	JPMorgan Pass Through
	Trust Series 2007-B 144A
	0.001% 1/15/87		500,000		0
Total Leveraged Non-Recourse
	Securities (cost $425,000)				0

		Number of
		Shares
Preferred Stock – 0.37%
	Developers Diversified Realty
	Series I 7.50%		1,925		17,729
*	Digital Realty Series A 8.50%		2,650		56,207
	Freddie Mac 6.02%		21,000		7,770
·	JPMorgan Chase & Co 7.90%		85,000		71,166
·	PNC Financial Services
	Group 8.25%		195,000		166,319
*	ProLogis Series G 6.75%		7,050		109,275
*	Vornado Realty Trust 6.625%		3,700		65,860
Total Preferred Stock
	(cost $996,828)				494,326

		Principal
		Amount°
Residual Interest Trust Certificates – 0.00%
w#	Freddie Mac Auction Pass
	Through Trust
	Series 2007 144A	USD	475,000		0
Total Residual Interest Trust
	Certificates (cost $516,980)				0

	Principal		Value
	Amount°		(U.S. $)
¹Discount Note – 5.46%
Federal Home Loan Bank
0.07% 6/1/09	USD	7,282,046	$	7,282,046
Total Discount Note
(cost $7,282,046)				7,282,046

Total Value of Securities Before Securities
Lending Collateral – 130.65%
(cost $208,539,446)				174,387,007

Securities Lending Collateral – 9.07%**
Investment Companies
Mellon GSL DBT II
Collateral Fund		2,692,916		2,692,916
BNY Mellon SL DBT II
Liquidating Fund		9,699,727		9,412,795
†Mellon GSL DBT II
Reinvestment Trust II		328,120		33
Total Securities Lending Collateral
(cost $12,720,763)				12,105,744

Total Value of Securities – 139.72%
(cost $221,260,209)				186,492,751	©
Obligation to Return Securities
Lending Collateral – (9.53%)**				(12,720,763	)
Borrowing Under Line of Credit – (33.71%)				(45,000,000	)
Receivables and Other Assets
Net of Liabilities – 3.52%				4,701,191
Net Assets Applicable to 12,929,436 Shares
Outstanding; Equivalent to $10.32
Per Share – 100.00%			$	133,473,179

Components of Net Assets at May 31, 2009:
Shares of beneficial interest
(unlimited authorization – no par)			$	226,958,649
Distributions in excess of net investment income				(2,179	)
Accumulated net realized loss on investments				(58,441,752	)
Net unrealized depreciation of investments
and foreign currencies				(35,041,539	)
Total net assets			$	133,473,179

° Principal amount shown is stated in the currency in which each security is denominated.

BRL — Brazilian Real
COP — Colombian Peso
HKD — Hong Kong Dollar
IDR — Indonesian Rupiah
JPY— Japanese Yen
MXN — Mexican Peso
USD — United States Dollar
ZAR — South African Rand

v	Securities have been classified by type of business. Classification by country of origin has been presented in Sector and country allocations on page 2.

*	Fully or partially on loan.

±	Security is being valued based on international fair value pricing. At May 31, 2009, the aggregate amount of international fair value priced securities was $24,133,904, which represented 18.08% of the Fund’s net assets. See Note 1 in “Notes.”

†	Non income producing security.

@	Illiquid security. At May 31, 2009, the aggregate amount of illiquid securities was $10,170,111 which represented 7.62% of the Fund’s net assets. See Note 13 in “Notes to financial statements.”

·	Variable rate security. The rate shown is the rate as of May 31, 2009.

#	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At May 31, 2009, the aggregate amount of Rule 144A securities was $25,109,457 which represented 18.81% of the Fund’s net assets. See Note 13 in “Notes to financial statements.”

‡	Non income producing security. Security is currently in default.

Õ	Restricted Security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At May 31, 2009, the aggregate amount of the restricted securities was $10,968 or 0.01% of the Fund’s net assets. See Note 13 in “Notes to financial statements.”

w	Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes.

«	Senior Secured Loans generally pay interest at rates which are periodically redetermined by reference to a base lending rate plus a premium. These base lending rates are generally: (i) the prime rate offered by one or more United States banks, (ii) the lending rate offered by one or more European banks such as the London Inter-Bank Offered Rate (LIBOR), and (iii) the certificate of deposit rate. Senior Secured Loans may be subject to restrictions on resale.

D	Securities have been classified by country of origin.

¹	The rate shown is the effective yield at the time of purchase.

**	See Note 12 in “Notes to financial statements.”

©	Includes $12,180,484 of securities loaned.

(continues) 17

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

Summary of Abbreviations:
ADR — American Depositary Receipts
ARM — Adjustable Rate Mortgage
FDR — Foreign Depositary Receipt
GNMA — Government National Mortgage Association
MASTR — Mortgage Asset Securitization Transactions, Inc.
PIK — Pay-in-kind
REIT — Real Estate Investment Trust
S.F. — Single Family
TBA — To be announced
yr — Year

The following foreign currency exchange contracts were outstanding at May 31, 2009:

Foreign Currency Exchange Contract¹

Contracts to						Settlement	Unrealized
Receive (Deliver)			In Exchange For			Date	Depreciation
HKD	(222,309	)	USD	28,670		6/1/09		$ (7	)
HKD	(49,227	)	USD	6,350		6/2/09		(1	)
JPY	6,963,898		USD	(73,273	)	6/3/09		(184	)
								$(192	)

The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amount recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

¹See Note 8 in “Notes to financial statements.”

See accompanying notes

Statement of operations

Delaware Enhanced Global Dividend and Income Fund

Six Months Ended May 31, 2009 (Unaudited)

Investment Income:
Dividends	$	1,552,165
Interest		4,353,629
Securities lending income		81,183
Foreign tax withheld		(69,202	)	$	5,917,775

Expenses:
Management fees		799,309
Reports to shareholders		72,823
Legal fees		46,733
Accounting and administration expenses		31,972
Dividend disbursing and transfer agent fees and expenses		22,605
NYSE fees		16,875
Pricing fees		14,806
Audit and tax		12,288
Custodian fees		9,624
Leverage expenses		8,088
Trustees’ fees		4,746
Insurance fees		2,268
Dues and services		2,254
Consulting fees		974
Trustee’s expenses		427
Registration fees		225
Total operating expenses (before interest expenses)					1,046,017
Interest expenses					283,406
Total operating expenses					1,329,423
Net Investment Income					4,588,352

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies:
Net realized loss on:
Investments					(21,394,640	)
Foreign currencies					(190,513	)
Future contracts					(137	)
Swap contracts					(1,485	)
Net realized loss					(21,586,775	)
Net change in unrealized appreciation/depreciation of investments and foreign currencies					45,533,926
Net Realized and Unrealized Gain on Investments and Foreign Currencies					23,947,151

Net Increase in Net Assets Resulting from Operations				$	28,535,503

See accompanying notes

Statements of changes in net assets

Delaware Enhanced Global Dividend and Income Fund

	Six Months
	Ended			Year Ended
	5/31/09			11/30/08
	(Unaudited)
Increase (Decrease) in Net Assets from Operations:
Net investment income	$	4,588,352		$	9,948,804
Net realized loss on investments and foreign currencies		(21,586,775	)		(36,433,443	)
Net change in unrealized appreciation/depreciation of investments and foreign currencies		45,533,926			(66,187,565	)
Net increase (decrease) in net assets resulting from operations		28,535,503			(92,672,204	)

Dividends and Distributions to Shareholders from:¹
Net investment income		(8,462,314	)		(8,332,471	)
Tax return of capital		—			(13,699,286	)
		(8,462,314	)		(22,031,757	)
Net Increase (Decrease) in Net Assets		20,073,189			(114,703,961	)

Net Assets:
Beginning of period		113,399,990			228,103,951
End of period (including distributions in excess of net investment income of $2,179
and $17,415, respectively)	$	133,473,179		$	113,399,990

¹See Note 4 in “Notes to financial statements.”

See accompanying notes

Statement of cash flows

Delaware Enhanced Global Dividend and Income Fund

Six Months Ended May 31, 2009 (Unaudited)

Net Cash (Including Foreign Currency) Provided by Operating Activities:
Net increase in net assets resulting from operations	$	28,535,503

Adjustments to reconcile net increase in net assets from
operations to cash provided by operating activities:
Amortization of premium and discount on investments purchased		(86,268	)
Purchase of investment securities		(56,736,108	)
Proceeds from disposition of investment securities		52,581,064
Purchase of short term investment securities, net		4,821,341
Net realized loss from investment transactions		21,394,503
Net change in net unrealized appreciation/depreciation of investments and foreign currencies		(45,533,926	)
Increase in receivable for investments sold		(699,183	)
Increase in interest and dividends receivable		(330,841	)
Increase in payable for investments purchased		2,048,295
Increase in interest payable		33,875
Increase in accrued expenses and other liabilities		2,847
Total adjustments		(22,504,401	)
Net cash provided by operating activities		6,031,102

Cash Flows Provided by Financing Activities:
Proceeds from line of credit, net		5,000,000
Cash dividends and distributions paid		(8,462,314	)
Net cash used in financing activities		(3,462,314	)
Effect of exchange rates on cash		653,673
Net increase in cash		3,222,461
Cash at beginning of period		517,894
Cash at end of period	$	3,740,355

Interest paid for borrowings during the period	$	249,531

See accompanying notes

Financial highlights

Delaware Enhanced Global Dividend and Income Fund

Selected data for each share of the Fund outstanding throughout the period was as follows:

	Six Months								6/29/07²
	Ended				Year Ended				to
	5/31/09¹				11/30/08				11/30/07
	(Unaudited)
Net asset value, beginning of period		$	8.770			$	17.640			$	19.100

Income (loss) from investment operations:
Net investment income³			0.355				0.769				0.288
Net realized and unrealized gain (loss) on investments and foreign currencies			1.850				(7.935	)			(1.285	)
Total from investment operations			2.205				(7.166	)			(0.997	)

Less dividends and distributions from:
Net investment income			(0.655	)			(0.644	)			(0.284	)
Return of capital			—				(1.060	)			(0.142	)
Total dividends and distributions			(0.655	)			(1.704	)			(0.426	)

Capital share transactions
Common share offering costs charged to paid in capital			—				—				(0.037	)
Total capital share transactions			—				—				(0.037	)

Net asset value, end of period		$	10.320			$	8.770			$	17.640

Market value, end of period		$	8.490			$	6.080			$	15.370

Total return based on:⁴
Net asset value			28.56%				(42.25%	)			(4.97%	)
Market value			53.25%				(54.14%	)			(17.24%	)

Ratios and supplemental data:
Net assets, end of period (000 omitted)		$	133,473			$	113,400			$	228,204
Ratio of expenses to average net assets			2.28%				1.66%				1.17%
Ratio of expenses to adjusted average net assets (before interest expense)⁵			1.31%				1.24%				1.17%
Ratio of interest expense to adjusted average net assets⁵			0.35%				0.29%				—
Ratio of net investment income to average net assets			7.88%				5.33%				3.68%
Ratio of net investment income to adjusted average net assets⁵			5.74%				4.91%				3.68%
Portfolio turnover			72%				97%				175%

Leverage Analysis:
Debt outstanding at end of period at par (000 omitted)		$	45,000			$	40,000				—
Asset coverage per $1,000 of debt outstanding at end of period		$	3,966			$	3,835				—

¹ Ratios and portfolio turnover have been annualized and total return has not been annualized.

² Date of commencement of operations; ratios and portfolio turnover have been annualized and total return has not been annualized.

³ The average shares outstanding method has been applied for per share information.

⁴ Total investment return is calculated assuming a purchase of common stock on the opening of the first day and a sale on the closing of the last day of each period reported. Dividends and distributions, if any, are assumed for the purposes of this calculation, to be reinvested at prices obtained under the Fund‘s dividend reinvestment plan. Generally, total investment return based on net asset value will be higher than total investment return based on market value in periods where there is an increase in the discount or decrease in the premium of the market value to the net asset value from the beginning to the end of such periods. Conversely, total investment return based on net asset value will be lower than total investment return based on market value in periods where there is a decrease in the discount or an increase in the premium of the market value to the net asset value from the beginning to the end of such periods.

⁵ Adjusted average net assets excluded debt outstanding.

See accompanying notes

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

May 31, 2009 (Unaudited)

Delaware Enhanced Global Dividend and Income Fund (Fund) is organized as a Delaware statutory trust and is a diversified closed-end management investment company under the Investment Company Act of 1940, as amended. The Fund’s shares trade on the New York Stock Exchange (NYSE) under the symbol DEX.

The investment objective of the Fund is to seek current income, with a secondary objective of capital appreciation.

1. Significant Accounting Policies

The following accounting policies are in accordance with U.S. generally accepted accounting principles and are consistently followed by the Fund.

Security Valuation — Equity securities, except those traded on the Nasdaq Stock Market, Inc. (Nasdaq), are valued at the last quoted sales price as of the time of the regular close of the NYSE on the valuation date. Securities traded on the Nasdaq are valued in accordance with the Nasdaq Official Closing Price, which may not be the last sales price. If on a particular day an equity security does not trade, then the mean between the bid and ask prices will be used. Securities listed on a foreign exchange are valued at the last quoted sales price on the valuation date. U.S. Government and agency securities are valued at the mean between the bid and ask prices. Other debt securities, credit default swap (CDS) contracts and interest rate swap contracts are valued by an independent pricing service or broker. To the extent current market prices are not available, the pricing service may take into account developments related to the specific security, as well as transactions in comparable securities. Investment companies are valued at net asset value per share. Foreign currency exchange contracts are valued at the mean between the bid and ask prices. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available. Financial futures contracts and options on financial futures contracts are valued at the daily quoted settlement prices. Exchange-traded options are valued at the last reported sale price or, if no sales are reported, at the mean between the last reported bid and ask prices. Generally, index swap contracts and other securities and assets for which market quotations are not readily available are valued at fair value as determined in good faith under the direction of the Fund’s Board of Trustees (Board). In determining whether market quotations are readily available or fair valuation will be used, various factors will be taken into consideration, such as market closures or suspension of trading in a security. The Fund may use fair value pricing more frequently for securities traded primarily in non-U.S. markets because, among other things, most foreign markets close well before the Fund values its securities at 4:00 p.m. Eastern time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, government actions or pronouncements, aftermarket trading, or news events may have occurred in the interim. To account for this, the Fund may frequently value foreign securities using fair value prices based on third-party vendor modeling tools (international fair value pricing).

Federal Income Taxes — No provision for federal income taxes has been made as the Fund intends to continue to qualify for federal income tax purposes as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and make the requisite distributions to shareholders. The Fund evaluates tax positions taken or expected to be taken in the course of preparing the Fund’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. The Fund did not record any tax benefit or expense in the current period.

Distributions — The Fund has a managed distribution policy. Under the policy, the Fund declares and pays monthly distributions and is managed with a goal of generating as much of the distribution as possible from ordinary income (net investment income and short-term capital gains). The balance of the distribution then comes from long-term capital gains to the extent permitted and, if necessary, a return of capital.

Repurchase Agreements — The Fund may invest in a pooled cash account along with members of the Delaware Investments^® Family of Funds pursuant to an exemptive order issued by the Securities and Exchange Commission. The aggregate daily balance of the pooled cash account is invested in repurchase agreements secured by obligations of the U.S. government. The respective collateral is held by the Fund’s custodian bank until the maturity of the respective repurchase agreements. Each repurchase agreement is at least 102% collateralized. However, in the event of default or bankruptcy by the counterparty to the agreement, realization of the collateral may be subject to legal proceedings. At May 31, 2009, the Fund held no investments in repurchase agreements.

Foreign Currency Transactions — Transactions denominated in foreign currencies are recorded at the prevailing exchange rates on the valuation date. The value of all assets and liabilities denominated in foreign currencies is translated into U.S. dollars at the exchange rate of such currencies against the U.S. dollar daily. Transaction gains or losses resulting from changes in exchange rates during the reporting period or upon settlement of the foreign currency transaction are reported in operations for the current period. The Fund isolates that portion of realized gains and losses on investments in debt securities, which is due to changes in foreign exchange rates from that which are due to changes in market prices of debt securities. For foreign equity securities, these changes are included in realized gains (losses) on investments. The Fund reports certain foreign currency related transactions as components of realized gains (losses) for financial reporting purposes, whereas such components are treated as ordinary income (loss) for federal income tax purposes.

Use of Estimates — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Other — Expenses directly attributable to the Fund are charged directly to the Fund. Other expenses common to various funds within the Delaware Investments^® Family of Funds are generally allocated amongst such funds on the basis of average net assets. Management fees and some other expenses are paid monthly. Security transactions are recorded on the date the securities are purchased or sold (trade date) for financial reporting purposes. Costs used in calculating realized gains and losses on the sale of investment securities are those of the specific securities sold. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis. Discounts and premiums on non-convertible bonds are amortized to interest income over the lives of the respective securities. Realized gains (losses) on paydowns of

(continues) 23

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

1. Significant Accounting Policies (continued)

mortgage- and asset-backed securities are classified as interest income. Foreign dividends are also recorded on the ex-dividend date or as soon after the ex-dividend date that the Fund is aware of such dividends, net of all non-rebatable tax withholdings. Withholding taxes on foreign dividends and interest have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received from investments in Real Estate Investments Trusts (REITs) are recorded as dividend income on the ex-dividend date, subject to reclassification upon notice of the character of such distributions by the issuer.

The Fund may receive earnings credits from its custodian when positive cash balances are maintained, which are used to offset custody fees. There were no earnings credits for the period ended May 31, 2009.

2. Investment Management, Administration Agreements and Other Transactions with Affiliates

In accordance with the terms of its Investment Management Agreement, the Fund pays Delaware Management Company (DMC), a series of Delaware Management Business Trust and the investment manager, an annual fee of 1.00% (calculated daily) of the adjusted average weekly net assets of the Fund. For purposes of the calculation of investment management fees, adjusted average weekly net assets excludes the line of credit liability.

Delaware Service Company, Inc. (DSC), an affiliate of DMC, provides fund accounting and financial administration oversight services to the Fund. For these services, the Fund pays DSC fees based on the aggregate daily net assets of the Delaware Investments^® Family of Funds at the following annual rate: 0.0050% of the first $30 billion; 0.0045% of the next $10 billion; 0.0040% of the next $10 billion; and 0.0025% of aggregate average daily net assets in excess of $50 billion. The fees payable to DSC under the service agreement described above are allocated among all Funds in the Delaware Investments^® Family of Funds on a relative net asset value basis. For the six months ended May 31, 2009, the Fund was charged $3,997 for these services.

At May 31, 2009, the Fund had liabilities payable to affiliates as follows:

Investment management fee payable to DMC	$	148,024
Fees and other expenses payable to DSC		741
Other expenses payable to DMC and affiliates*		3,167

*DMC, as part of its administrative services, pays operating expenses on behalf of the Fund and is reimbursed on a periodic basis. Such expenses include items such as printing of shareholder reports, fees for audit, legal and tax services, stock exchange fees, custodian fees and Trustees’ fees.

As provided in the investment management agreement, the Fund bears the cost of certain legal and tax services, including internal legal and tax services provided to the Fund by DMC and/or its affiliates’ employees. For the six months ended May 31, 2009, the Fund was charged $6,300 for internal legal and tax services provided by DMC and/or its affiliates’ employees.

Trustees’ fees include expenses accrued by the Fund for each Trustee’s retainer and meeting fees. Certain officers of DMC and DSC are officers and/or Trustees of the Fund. These officers and Trustees are paid no compensation by the Fund.

3. Investments

For the six months ended May 31, 2009, the Fund made purchases of $56,736,108 and sales of $52,581,064 of investment securities other than short-term investments.

At May 31, 2009, the cost of investments for federal income tax purposes has been estimated since final tax characteristics cannot be determined until fiscal year end. At May 31, 2009, the cost of investments was $221,886,482. At May 31, 2009, net unrealized depreciation was $35,393,731, of which $6,052,240 related to unrealized appreciation of investments and $41,445,971 related to unrealized depreciation of investments.

The Fund applies Financial Accounting Standard No. 157, Fair Value Measurements (FAS 157). FAS 157 defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. FAS 157 also establishes a framework for measuring fair value, and a three level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The Fund’s investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

Level 1 – Inputs are quoted prices in active markets

Level 2 – Inputs are observable, directly or indirectly

Level 3 – Inputs are unobservable and reflect assumptions on the part of the reporting entity

The following table summarizes the valuation of the Fund investments by the FAS 157 fair value hierarchy levels as of May 31, 2009:

	Securities		Derivatives
Level 1	$	36,482,279		$	—
Level 2		145,166,633			(192	)
Level 3		4,843,839			—
Total	$	186,492,751		$	(192	)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

	Securities
Balance as of 11/30/08	$4,503,971
Net realized loss	(318,462	)
Net change in unrealized
appreciation/depreciation	1,953,928
Net purchases, sales, and settlements	(311,342	)
Net transfers in and/or out of Level 3	(984,256	)
Balance as of 5/31/09	$4,843,839
Net change in unrealized appreciation/
depreciation from investments still
held as of 5/31/09	$1,953,928

4. Dividends and Distribution Information

Income and long-term capital gain distributions are determined in accordance with federal income tax regulations, which may differ from U.S. generally accepted accounting principles. Additionally, distributions from net gains on foreign currency transaction and net short-term gains on sales of investment securities are treated as ordinary income for federal income tax purposes. The tax character of dividends and distributions paid during the six months ended May 31, 2009 and the year ended November 30, 2008 was as follows:

	Six Months	Year
	Ended	Ended
	5/31/09*	11/30/08
Ordinary income	$8,462,314	$	8,332,471
Return of capital	—		13,699,286
Total	$8,462,314	$	22,031,757

*Tax information for the period ended May 31, 2009 is an estimate and the tax character of dividends and distributions may be redesignated at fiscal year end.

5. Components of Net Assets on a Tax Basis

The components of net assets are estimated since final tax characteristics cannot be determined until fiscal year end. As of May 31, 2009, the estimated components of net assets on a tax basis were as follows:

Shares of beneficial interest	$	226,958,649
Realized losses 12/1/08 – 5/31/09		(21,588,900	)
Other temporary differences		(2,363	)
Capital loss carryforwards as of 11/30/08		(36,226,579	)
Unrealized appreciation of investments
and foreign currencies		(35,667,628	)
Net assets	$	133,473,179

The differences between book basis and tax basis components of net assets are primarily attributable to tax deferral of losses on wash sales, tax deferral of losses on straddles, mark-to-market on foreign currency contracts and tax treatment of market discount and premium on debt instruments.

For financial reporting purposes, capital accounts are adjusted to reflect the tax character of permanent book/tax differences. Reclassifications are primarily due to dividends and distributions, gains (loss) on foreign currency transactions, market discount and premium on debt instruments, passive foreign investment companies, CDS contracts and paydown gains (losses) of mortgage- and asset-backed securities. Results of operations and net assets were not affected by these reclassifications. For the six months ended May 31, 2009, the Fund recorded an estimate of these differences since final tax characteristics cannot be determined until fiscal year end.

Distributions in excess of net investment income	$	3,889,198
Accumulated net realized loss		374,128
Paid-in capital		(4,263,326	)

For federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains. Capital loss carryforwards remaining at November 30, 2008 will expire as follows: $1,676,026 expires in 2015 and $34,550,553 expires in 2016.

For the six months ended May 31, 2009, the Fund had capital loss of $21,588,900, which may increase the capital loss carryforwards.

6. Capital Stock

Shares obtained under the Fund’s dividend reinvestment plan are purchased by the Fund’s transfer agent, Mellon Investor Services, LLC, in the open market. There were no shares issued under the Fund’s dividend reinvestment plan for the six months ended May 31, 2009 and the year ended November 30, 2008.

For the six months ended May 31, 2009 and the year ended November 30, 2008, the Fund did not issue any common shares.

The fund did not repurchase any shares under the Fund’s Share Repurchase Program during the six months ended May 31, 2009.

7. Line of Credit

For the six months ended May 31, 2009, the Fund borrowed money pursuant to a $50,000,000 Credit Agreement with The Bank of New York Mellon (BNY Mellon) that expires on July 1, 2009. During the period ended May 31, 2009, the Fund’s outstanding borrowings made pursuant to the Credit Agreement ranged from $40,000,000 to $45,000,000. Depending on market conditions, the amount borrowed by the Fund pursuant to the Credit Agreement may be reduced or possibly increased in the future.

At May 31, 2009, the par value of loans outstanding was $45,000,000 at a variable interest rate of 1.40%. During the period ended May 31, 2009, the average daily balance of loans outstanding was $42,055,556 at a weighted average interest rate of approximately 1.40%. Interest on borrowings is based on a variable short-term rate plus an applicable margin. The commitment fee is computed at a rate of 0.10% per annum on the unused balance. The loan is collateralized by the Fund’s portfolio.

8. Foreign Currency Exchange Contracts

The Fund may enter into foreign currency exchange contracts as a way of managing foreign exchange rate risk. The Fund may enter into these contracts to fix the U.S. dollar value of a security that it has agreed to buy or sell for the period between the date the trade was entered into and the date the security is delivered and paid for. The Fund may also use these contracts to hedge the U.S. dollar value of securities it already owns that are denominated in foreign currencies. The change in value is recorded as an unrealized gain or loss. When the contract is closed, a realized gain or loss is recorded equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

(continues) 25

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

8. Foreign Currency Exchange Contracts (continued)

The use of foreign currency exchange contracts does not eliminate fluctuations in the underlying prices of the securities, but does establish a rate of exchange that can be achieved in the future. Although foreign currency exchange contracts limit the risk of loss due to a decline in the value of the hedged currency, they also limit any potential gain that might result should the value of the currency increase. In addition, the Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts. The Fund’s maximum risk of loss from counterparty credit risk is the value of its currency exchanged with the counterparty. The risk is generally mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty.

9. Financial Futures Contracts

The Fund may use futures in the normal course of pursuing its investment objectives. The Fund may invest in financial futures contracts to hedge its existing fund securities against fluctuations in fair value caused by changes in prevailing market interest rates. Upon entering into a financial futures contract, the Fund deposits cash or pledges U.S. government securities to a broker, equal to the minimum “initial margin” requirements of the exchange on which the contract is traded. Subsequent payments are received from the broker or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as “variation margin” and are recorded daily by the Fund as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks of entering into financial futures contracts include potential imperfect correlation between the financial futures contracts and the underlying securities and the possibility of an illiquid secondary market for these instruments. When investing in futures, there is minimal counterparty credit risk to the Fund because futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees against default. No financial futures contracts were outstanding at May 31, 2009.

10. Written Options

During the six months ended May 31, 2009, the Fund entered into options contracts in accordance with its investment objectives. When the Fund writes an option, a premium is received and a liability is recorded and adjusted on a daily basis to reflect the current market value of the options written. Premiums received from writing options that expire unexercised are treated by the Fund on the expiration date as realized gains. The difference between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is treated as realized gain or loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the Fund has a realized gain or loss. If a put option is exercised, the premium reduces the cost basis of the securities purchased by the Fund. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option.

Transactions in written options during the six months ended May 31, 2009 for the Fund were as follows:

	Number of contracts			Premiums
Options outstanding at
November 31, 2008		—			$ —
Options written		850			69,699
Options expired		(525	)		(38,850	)
Options terminated in closing
purchase transactions		(325	)		(30,849	)
Options outstanding at
May 31, 2009		—			$ —

11. Swap Contracts

The Fund may enter into interest rate swap contracts, index swap contracts and CDS contracts in the normal course of pursuing its investment objectives. The Fund may use interest rate swaps to adjust the Fund’s sensitivity to interest rates or to hedge against changes in interest rates. Index swaps may be used to gain exposure to markets that the Fund invests in, such as the corporate bond market. The Fund may also use index swaps as a substitute for futures or options contracts if such contracts are not directly available to the Fund on favorable terms. The Fund may enter into CDS contracts in order to hedge against a credit event, to enhance total return or to gain exposure to certain securities or markets.

Interest Rate Swaps. An interest rate swap involves payments received by the Fund from another party based on a variable or floating interest rate, in return for making payments based on a fixed interest rate. An interest rate swap can also work in reverse with the Fund receiving payments based on a fixed interest rate and making payments based on a variable or floating interest rate. Interest rate swaps may be used to adjust the Fund’s sensitivity to interest rates or to hedge against changes in interest rates. Periodic payments on such contracts are accrued daily and recorded as unrealized appreciation/depreciation on swap contracts. Upon periodic payment/receipt or termination of the contract, such amounts are recorded as realized gains or losses on swap contracts. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/paid to the counterparty over the interest rate swap contract’s remaining life, to the extent that the amount is positive. This risk is mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty.

Index swaps. Index swaps involve commitments to pay interest in exchange for a market linked return based on a notional amount. To the extent the total return of the security, instrument or basket of instruments underlying the transaction exceeds the offsetting interest obligation, the Fund will receive a payment from the counterparty. To the extent the total return of the security, instrument or basket of instruments underlying the transaction falls short of the offsetting interest obligation, the Fund will make a payment to the counterparty. The change in value of swap contracts outstanding, if any, is recorded as unrealized appreciation or depreciation daily. A realized gain or loss is recorded on maturity or termination of the swap contract. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/ paid to the counterparty over the index swap contract’s remaining life, to the extent that the amount is positive. This risk is mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty.

Credit Default Swaps. A CDS contract is a risk-transfer instrument through which one party (purchaser of protection) transfers to another party (seller of protection) the financial risk of a credit event (as defined in the CDS agreement), as it relates to a particular reference security or basket of securities (such as an index). In exchange for the protection offered by the seller of protection, the purchaser of protection agrees to pay the seller of protection a periodic amount at a stated rate that is applied to the notional amount of the CDS contract. In addition, an upfront payment may be made or received by the Fund in connection with an unwinding or assignment of a CDS contract. Upon the occurrence of a credit event, the seller of protection would pay the par (or other agreed-upon) value of the referenced security (or basket of securities) to the counterparty.

During the six months ended May 31, 2009, the Fund entered into CDS contracts as a purchaser of protection. Periodic payments on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment, such amounts are recorded as realized losses (gains) on swap contracts. Upfront payments made or received in connection with CDS contracts are amortized over the expected life of the CDS contracts as unrealized losses (gains) on swap contracts. The change in value of CDS contracts is recorded as unrealized appreciation or depreciation daily. A realized gain or loss is recorded upon a credit event (as defined in the CDS agreement) or the maturity or termination of the agreement. For the six months ended May 31, 2009, the Fund did not enter into any CDS contracts as a seller of protection.

CDS may involve greater risks than if the Fund had invested in the referenced obligation directly. CDS are subject to general market risk, liquidity risk, counterparty risk and credit risk. The Fund’s maximum risk of loss from counterparty credit risk, either as the seller of protection or the buyer of protection, is the fair value of the contract. This risk is mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty.

Swaps Generally. Because there is no organized market for swap contracts, the value of open swaps may differ from that which would be realized in the event the Fund terminated its position in the agreement. Risks of entering into these contracts include the potential inability of the counterparty to meet the terms of the contracts. This type of risk is generally limited to the amount of favorable movement in the value of the underlying security, instrument or basket of instruments, if any, at the day of default. Risks also arise from potential losses from adverse market movements and such losses could exceed the unrealized amounts shown on the statements of net assets. No swap contracts were outstanding at May 31, 2009.

12. Securities Lending

The Fund, along with other funds in the Delaware Investments^® Family of Funds, may lend its securities pursuant to a security lending agreement (Lending Agreement) with BNY Mellon. With respect to each loan, if the aggregate market value of securities collateral held plus cash collateral received on any business day is less than the aggregate market value of the securities which are the subject of such loan, the borrower will be notified to provide additional collateral not less than the applicable collateral requirements. Cash collateral received is generally invested in the Mellon GSL DBT II Collateral Fund (Collective Trust) established by BNY Mellon for the purpose of investment on behalf of clients participating in its securities lending programs. The Collective Trust may invest in fixed income securities, with a weighted average maturity not to exceed 90 days, rated in one of the top three-tiers by Standard & Poor’s Ratings Group (S&P) or Moody’s Investors Service, Inc. (Moody’s) or repurchase agreements collateralized by such securities. The Collective Trust seeks to maintain a net asset value per unit of $1.00, but there can be no assurance that it will always be able to do so. At May 31, 2009, the Collective Trust held only cash and assets with a maturity of one business day or less (Cash/Overnight Assets). The Fund may incur investment losses as a result of investing securities lending collateral in the Collective Trust. This could occur if an investment in the Collective Trust defaulted or if it were necessary to liquidate assets in the Collective Trust to meet returns on outstanding security loans at a time when the Collective Trust’s net asset value per unit was less than $1.00. Under those circumstances, a fund may not receive an amount from the Collective Trust that is equal in amount to the collateral the Fund would be required to return to the borrower of the securities and the Fund would be required to make up for this shortfall. Effective April 20, 2009, BNY Mellon transferred the assets of the Collective Trust other than the Cash/Overnight Assets to the BNY Mellon SL DBT II Liquidating Fund (Liquidating Fund), effectively bifurcating the collateral investment pool. The Fund’s exposure to the Liquidating Fund is expected to decrease as the Liquidating Fund’s assets mature or are sold. In October 2008, BNY Mellon transferred certain distressed securities from the Collective Trust into the Mellon GSL Reinvestment Trust II. The Fund can also accept U.S. government securities and letters of credit (non-cash collateral) in connection with securities loans. In the event of default or bankruptcy by the lending agent, realization and/or retention of the collateral may be subject to legal proceedings. In the event the borrower fails to return loaned securities and the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Fund, or at the discretion of the lending agent, replace the loaned securities. The Fund continues to record dividends or interest, as applicable, on the securities loaned and is subject to change in value of the securities loaned that may occur during the term of the loan. The Fund has the right under the Lending Agreement to recover the securities from the borrower on demand. With respect to security loans collateralized by non-cash collateral, the Fund receives loan premiums paid by the borrower. With respect to security loans collateralized by cash collateral, the earnings from the collateral investments are shared among the Fund, the security lending agent and the borrower. The Fund records security lending income net of allocations to the security lending agent and the borrower.

At May 31, 2009, the value of the securities on loan was $12,180,484, for which the Fund received collateral, comprised of securities collateral valued at $12,420, and cash collateral of $12,720,763. Investments purchased with cash collateral are presented on the statement of net assets under the caption “Securities Lending Collateral.”

13. Credit and Market Risk

The Fund borrows through its line of credit for purposes of leveraging. Leveraging may result in higher degrees of volatility because the Fund’s net asset value could be subject to fluctuations in short-term interest rates and changes in market value of portfolio securities attributable to the leverage.

(continues) 27

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

13. Credit and Market Risks (continued)

Some countries in which the Fund may invest require governmental approval for the repatriation of investment income, capital or the proceeds of sales of securities by foreign investors. In addition, if there is deterioration in a country’s balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad.

The securities exchanges of certain foreign markets are substantially smaller, less liquid and more volatile than the major securities markets in the United States. Consequently, acquisition and disposition of securities by the Fund may be inhibited. In addition, a significant portion of the aggregate market value of securities listed on the major securities exchanges in emerging markets are held by a smaller number of investors. This may limit the number of shares available for acquisition or disposition by the Fund.

The Fund invests a portion of its assets in high yield fixed income securities, which carry ratings of BB or lower by S&P and/or Ba or lower by Moody’s. Investments in these higher yielding securities are generally accompanied by a greater degree of credit risk than higher rated securities. Additionally, lower rated securities may be more susceptible to adverse economic and competitive industry conditions than investment grade securities.

The Fund invests in fixed income securities whose value is derived from an underlying pool of mortgages or consumer loans. The value of these securities is sensitive to changes in economic conditions, including delinquencies and/or defaults, and maybe adversely affected by shifts in the market’s perception of the issuers and changes in interest rates. Investors receive principal and interest payments as the underlying mortgages or consumer loans are paid back. Some of these securities are collateralized mortgage obligations (CMOs). CMOs are debt securities issued by U.S. government agencies or by financial institutions and other mortgage lenders, which are collateralized by a pool of mortgages held under an indenture. Prepayment of mortgages may shorten the stated maturity of the obligations and can result in a loss of premium, if any has been paid. Certain of these securities may be stripped (securities which provide only the principal or interest feature of the underlying security). The yield to maturity on an interest-only CMO is extremely sensitive not only to changes in prevailing interest rates, but also to the rate of principal payments (including prepayments) on the related underlying mortgage assets. A rapid rate of principal payments may have a material adverse affect on the Fund’s yield to maturity. If the underlying mortgage assets experience greater than anticipated prepayments of principal, the Fund may fail to fully recoup its initial investment in these securities even if the securities are rated in the highest rating categories.

The Fund invests in REITs and is subject to the risks associated with that industry. If the Fund holds real estate directly as a result of defaults or receives rental income directly from real estate holdings, its tax status as a regulated investment company may be jeopardized. There were no direct real estate holdings during the period ended May 31, 2009. The Fund’s REIT holdings are also affected by interest rate changes, particularly if the REITs it holds use floating rate debt to finance their ongoing operations.

The Fund may invest up to 10% of its net assets in illiquid securities, which may include securities with contractual restrictions on resale, securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and other securities which may not be readily marketable. Under the Fund’s 10% limit on investments in illiquid securities policy, the Fund may not invest in an illiquid security if at the time of purchase, the Fund holds more than 10% of its net assets in illiquid securities. The relative illiquidity of these securities may impair the Fund from disposing of them in a timely manner and at a fair price when it is necessary or desirable to do so. While maintaining oversight, the Fund’s Board has delegated to Delaware Management Company, a series of Delaware Management Business Trust, the day-to-day functions of determining whether individual securities are liquid for purposes of the Fund’s limitation on investments in illiquid assets. Securities eligible for resale pursuant to Rule 144A, which are determined to be liquid, are not subject to the Fund’s 10% limit on investments in illiquid securities. Rule 144A and illiquid securities have been identified on the statement of net assets.

14. Contractual Obligations

The Fund enters into contracts in the normal course of business that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown. However, the Fund has not had prior claims or losses pursuant to these contracts. Management has reviewed the Fund’s existing contracts and expects the risk of loss to be remote.

Other Fund information
(Unaudited)

Delaware Enhanced Global Dividend and Income Fund

Board Consideration of Delaware Enhanced Global Dividend and Income Fund Investment Advisory Agreement

At a meeting held on May 19-21, 2009 (the “Annual Meeting”), the Board of Directors (the “Board”), including a majority of disinterested or independent Directors, approved the renewal of the Investment Advisory Agreement for the Delaware Enhanced Global Dividend and Income Fund (the “Fund”). In making its decision, the Board considered information furnished specifically in connection with the renewal of the Investment Advisory Agreement with Delaware Management Company (“DMC”), which included materials provided by DMC and its affiliates (“Delaware Investments”) concerning, among other things, the nature, extent and quality of services provided to the Fund, the costs of such services to the Fund, economies of scale and the financial condition and profitability of Delaware Investments. Reference was made to information furnished at regular quarterly Board meetings, including reports detailing Fund performance, investment strategies and expenses, as well as information prepared specifically in connection with the renewal of the investment advisory and sub-advisory contracts. In addition, in connection with the Annual Meeting, reports were provided in February 2009 and included independent historical and comparative reports prepared by Lipper Inc. (“Lipper”), an independent statistical compilation organization. The Lipper reports compared the Fund’s investment performance and expenses with those of other comparable mutual funds. The independent Directors reviewed and discussed the Lipper reports with counsel to the independent Directors. The Board requested and received information regarding Management’s policy with respect to advisory fee levels and its breakpoint philosophy; the structure of portfolio manager compensation; the investment manager’s profitability; and any constraints or limitations on the availability of securities in certain investment styles which had in the past year inhibited, or which were likely in the future to inhibit, DMC’s ability to invest fully in accordance with Fund policies.

In considering information relating to the approval of the Fund’s advisory agreement, the independent Directors received assistance and advice from and met separately with counsel to the independent Directors. Although the Directors gave attention to all information furnished, the following discussion identifies, under separate headings, the primary factors taken into account by the Board during its contract renewal considerations.

Nature, Extent and Quality of Service. The Board considered the services provided by Delaware Investments to the Fund and its shareholders. In reviewing the nature, extent and quality of services, the Board considered reports furnished to it throughout the year, which covered matters such as the relative performance of the Fund, compliance of portfolio managers with the investment policies, strategies and restrictions for the Fund, compliance by Management personnel with the Code of Ethics adopted throughout the Delaware Investments^® Family of Funds complex and adherence to fair value pricing procedures as established by the Board. The Board was pleased with the current staffing of the Fund’s investment advisor and the emphasis placed on research in the investment process. The Board gave favorable consideration to DMC’s efforts to control expenditures while maintaining service levels committed to fund matters. The Board noted that Management finished upgrading investment accounting functions through outsourcing to improve the quality and lower the cost of delivering investment accounting services to the Fund. The Board was satisfied with the nature, extent and quality of the overall services provided by Delaware Investments.

Investment Performance. The Board placed significant emphasis on the investment performance of the Fund in view of its importance to shareholders. Although the Board gave appropriate consideration to performance reports and discussions with portfolio managers at Board meetings throughout the year, the Board gave particular weight to the Lipper reports furnished for the Annual Meeting. The Lipper reports prepared for the Fund showed the investment performance of its shares in comparison to a group of similar funds as selected by Lipper (the “Performance Universe”). A fund with the highest performance ranked first, and a fund with the lowest ranked last. The highest/best performing 25% of funds in the Performance Universe make up the first quartile; the next 25%, the second quartile; the next 25%, the third quartile; and the lowest/worst performing 25% of funds in the Performance Universe make up the fourth quartile. Comparative annualized performance for the Fund was shown for the past one-, three-, five- and ten-year periods ended December 31, 2008. The Board’s objective is that the Fund’s performance for the periods considered be at or above the median of its Performance Universe. The following paragraph summarizes the performance results for the Fund and the Board’s view of such performance.

(continues) 29

Other Fund information
(Unaudited)

Delaware Enhanced Global Dividend and Income Fund

Board Consideration of Delaware Enhanced Global Dividend and Income Fund Investment Advisory Agreement (continued)

The Performance Universe for the Fund consisted of the Fund and all non-leveraged closed–end global funds as selected by Lipper. The Lipper report comparison showed that the Fund’s total return for the one-year period was in the fourth quartile. The Fund’s performance results were not in line with the Board’s objective. However, in evaluating performance, the Board considered the Fund’s short existence. The Board was satisfied that Management was taking effective action to improve Fund performance and meet the Board’s performance objective.

Comparative Expenses. The Board considered expense comparison data for the Delaware Investments^® Family of Funds. Management provided the Board with information on pricing levels and fee structures for the Fund as of October 31, 2008 and, for comparative funds, information as of their respective fiscal year end occurring on or before August 31, 2008. The Board also focused on the comparative analysis of effective management fees and total expense ratios of the Fund versus effective management fees and expense ratios of a group of similar closed-end funds as selected by Lipper (the “Expense Group”). In reviewing comparative costs, the Fund’s contractual management fee and the actual management fee incurred by the Fund were compared with the contractual management fees (assuming all funds in the Expense Group were similar in size to the Fund) and actual management fees (as reported by each fund) within the Expense Group, taking into account any applicable breakpoints and fee waivers. The Fund’s total expenses were also compared with those of its Expense Group. The Board considered fees paid to Delaware Investments for non management services. The Board’s objective is to limit the Fund’s total expense ratio to be competitive with that of the Expense Group. The following paragraph summarizes the expense results for the Fund and the Board’s view of such expenses.

The expense comparisons for the Fund showed that its actual management fee was in the quartile with the highest expenses of its Expense Group and its total expenses were in the quartile with the second lowest expenses of its Expense Group. The Board was satisfied with the total expenses of the Fund in comparison to those of its Expense Group.

Management Profitability. The Board considered the level of profits, if any, realized by Delaware Investments in connection with the operation of the Fund. In this respect, the Board reviewed the Investment Management Profitability Analysis that addressed the overall profitability of Delaware Investments’ business in providing management and other services to each of the individual funds and the Delaware Investments Family of Funds as a whole. Specific attention was given to the methodology followed in allocating costs for the purpose of determining profitability. Management stated that the level of profits of Delaware Investments, to a certain extent, reflect recent operational cost savings and efficiencies initiated by Delaware Investments. The Board considered Delaware Investments’ efforts to improve services provided to fund shareholders and to meet additional regulatory and compliance requirements resulting from recent industry-wide Securities and Exchange Commission initiatives. The Board also considered the extent to which Delaware Investments might derive ancillary benefits from fund operations, including the potential for procuring additional business as a result of the prestige and visibility associated with its role as service provider to the Delaware Investments Family of Funds and the benefits from allocation of fund brokerage to improve trading efficiencies. The Board found that the management fees were reasonable in light of the services rendered and the profitability of Delaware Investments.

Economies of Scale. As a closed-end fund, the Fund does not issue shares on a continuous basis. Fund assets increase only to the extent that the values of the underlying securities in the Fund increase. Accordingly, the Board determined that the Fund was not likely to experience significant economies of scale due to asset growth and, therefore, a fee schedule with breakpoints to pass the benefit of economies of scale on to shareholders was not likely to provide the intended effect.

About the organization

This semiannual report is for the information of Delaware Enhanced Global Dividend and Income Fund shareholders. The figures in this report represent past results that are not a guarantee of future results. The return and principal value of an investment in the Fund will fluctuate so that shares, when sold, may be worth more or less than their original cost.

Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940 that the Fund may, from time to time, purchase shares of its Common Stock on the open market at market prices.

Board of Directors

Patrick P. Coyne
Chairman, President,
and Chief Executive Officer
Delaware Investments^® Family of Funds
Philadelphia, PA

Thomas L. Bennett^†Private Investor
Rosemont, PA

John A. Fry^†
President
Franklin & Marshall College
Lancaster, PA

Anthony D. Knerr
Founder and Managing Director
Anthony Knerr & Associates
New York, NY

Lucinda S. Landreth
Former Chief Investment Officer
Assurant Inc.
Philadelphia, PA

Ann R. Leven
Consultant
ARL Associates
New York, NY

Thomas F. Madison^†President and Chief Executive Officer
MLM Partners Inc.
Minneapolis, MN

Janet L. YeomansVice President and Treasurer
3M Corporation
St. Paul, MN

J. Richard Zecher^†Founder
Investor Analytics
Scottsdale, AZ

^†Audit committee member

Affiliated officers

David F. Connor
Vice President, Deputy General Counsel,
and Secretary
Delaware Investments Family of Funds
Philadelphia, PA

Daniel V. Geatens
Vice President and Treasurer
Delaware Investments Family of Funds
Philadelphia, PA

David P. O’Connor
Senior Vice President, General Counsel,
and Chief Legal Officer
Delaware Investments Family of Funds
Philadelphia, PA

Richard Salus
Senior Vice President and
Chief Financial Officer
Delaware Investments Family of Funds
Philadelphia, PA

The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q, as well as a description of the policies and procedures that the Fund uses to determine how to vote proxies (if any) relating to portfolio securities is available without charge (i) upon request, by calling 800 523-1918; (ii) on the Fund’s Web site at http://www.delawareinvestments.com; and (iii) on the Commission’s Web site at http://www.sec.gov. The Fund’s Forms N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC; information on the operation of the Public Reference Room may be obtained by calling 800 SEC-0330.

Information (if any) regarding how the Fund voted proxies relating to portfolio securities during the most recently disclosed 12-month period ended June 30 is available without charge (i) through the Fund’s Web site at http://www.delawareinvestments.com; and (ii) on the Commission’s Web site at http://www.sec.gov.

Contact information

Investment manager
Delaware Management Company
a series of Delaware Management
Business Trust
Philadelphia, PA

Principal office of the Fund
2005 Market Street
Philadelphia, PA 19103-7057

Independent registered public
accounting firm
Ernst & Young LLP
2001 Market Street
Philadelphia, PA 19103

Registrar and stock transfer
agent
BNY Mellon Investor Services
480 Washington Blvd.
Jersey City, NJ 07310
800 851-9677

For securities dealers
and financial institutions
representatives
800 362-7500

Web site
www.delawareinvestments.com

Your reinvestment options
Delaware Enhanced Global Dividend and Income Fund offers an automatic dividend reinvestment program. If you would like to change your reinvestment option, and shares are registered in your name, contact BNY Mellon Shareowner Services, at 800 851-9677. You will be asked to put your request in writing. If you have shares registered in “street” name, contact the broker/dealer holding the shares or your financial advisor.

Item 2. Code of Ethics

Not applicable.

Item 3. Audit Committee Financial Expert

Not applicable.

Item 4. Principal Accountant Fees and Services

Not applicable.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Investments

(a) Included as part of report to shareholders filed under Item 1 of this Form N-CSR.

(b) Divestment of securities in accordance with Section 13(c) of the Investment Company Act of 1940.

Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

Not applicable.

Item 11. Controls and Procedures

The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of the filing of this report and have concluded that they are effective in providing reasonable assurance that the information required to be disclosed by the registrant in its reports or statements filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission.

There were no significant changes in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by the report to stockholders included herein (i.e., the registrant’s second fiscal quarter) that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits

(a)	(1) Code of Ethics

Not applicable.

	(2) Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Rule 30a-2 under the Investment Company Act of 1940 are attached hereto as Exhibit 99.CERT.

	(3) Written solicitations to purchase securities pursuant to Rule 23c-1 under the Securities Exchange Act of 1934.

Not applicable.

(b)	Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are furnished herewith as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf, by the undersigned, thereunto duly authorized.

Name of Registrant: Delaware Enhanced Global Dividend and Income Fund

PATRICK P. COYNE
By:	Patrick P. Coyne
Title:	Chief Executive Officer
Date:	July 29, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

PATRICK P. COYNE
By:	Patrick P. Coyne
Title:	Chief Executive Officer
Date:	July 29, 2009


RICHARD SALUS
By:	Richard Salus
Title:	Chief Financial Officer
Date:	July 29, 2009