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, 2008

Item 1. Reports to Stockholders


	Semiannual Report	Delaware
		Enhanced Global
		Dividend and Income
		Fund

		May 31, 2008











		Closed-end fund

Table of contents

> Sector and country allocations	1
> Statement of net assets	3
> Statement of operations	16
> Statements of changes in net assets	17
> Financial highlights	18
> Notes to financial statements	19
> About the organization	25

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.

Sector and country allocations

Delaware Enhanced Global Dividend and Income Fund
As of May 31, 2008

Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may also 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	47.80	%
Consumer Discretionary	5.86	%
Consumer Staples	3.26	%
Diversified REITs	1.93	%
Energy	3.00	%
Financials	8.86	%
Health Care	4.36	%
Health Care REITs	0.91	%
Hotel REITs	0.58	%
Industrial REITs	1.21	%
Industrials	4.37	%
Information Technology	3.90	%
Malls REITs	0.51	%
Materials	1.45	%
Mortgage REITs	0.40	%
Office REITs	1.47	%
Real Estate Operating Companies	0.22	%
Retail REITs	0.93	%
Telecommunications	2.64	%
Utilities	1.94	%
Convertible Preferred Stock	4.48	%
Automobiles & Automotive Parts	0.28	%
Banking, Finance & Insurance	2.96	%
Health Care & Pharmaceuticals	0.85	%
Telecommunications	0.39	%
Agency Collateralized Mortgage Obligations	0.41	%
Agency Mortgage-Backed Securities	3.40	%
Agency Obligations	2.34	%
Commercial Mortgage-Backed Securities	0.66	%
Convertible Bonds	2.71	%
Basic Industry	0.53	%
Computer & Technology	0.33	%
Health Care & Pharmaceuticals	1.15	%
Industrial	0.02	%
Telecommunications	0.20	%
Transportation	0.48	%
Corporate Bonds	21.18	%
Banking	1.49	%
Basic Industries	2.36	%
Brokerage	0.71	%
Capital Goods	1.41	%
Consumer Cyclical	1.54	%
Consumer Non-Cyclical	1.20	%
Energy	2.63	%
Finance & Investments	1.09	%
Industrial	0.05	%
Media	1.30	%
Real Estate	0.13	%
Services Cyclical	1.10	%
Services Non-cyclical	1.23	%
Technology & Electronics	0.33	%
Telecommunications	3.53	%
Utilities	1.08	%
Foreign Agencies	1.55	%
Municipal Bonds	0.10	%
Non-Agency Asset-Backed Securities	0.52	%
Non-Agency Collateralized Mortgage Obligations	0.92	%
Regional Agencies	0.03	%
Senior Secured Loans	1.21	%
Sovereign Debt	4.53	%
Supranational Banks	3.05	%
U.S. Treasury Obligations	0.80	%
Leveraged Non-Recourse Securities	0.00	%
Preferred Stock	0.03	%
Right	0.01	%
Residual Interest Trust Certificates	0.22	%
Securities Lending Collateral	14.40	%
Total Value of Securities	110.35	%
Obligation to Return Securities Lending Collateral	(14.40	%)
Receivables and Other Assets Net of Liabilities	4.05	%
Total Net Assets	100.00	%

(continues) 1

Sector and country allocations

Delaware Enhanced Global Dividend and Income Fund

	Percentage
Country	of Net Assets
Argentina	0.51	%
Australia	4.38	%
Austria	0.06	%
Belgium	0.24	%
Bermuda	0.71	%
Brazil	0.31	%
British Virgin Islands	0.14	%
Canada	1.94	%
Cayman Islands	0.72	%
Colombia	0.24	%
Denmark	0.36	%
Finland	0.32	%
France	2.77	%
Germany	1.32	%
Hong Kong	0.47	%
Indonesia	0.48	%
Ireland	1.13	%
Japan	3.07	%
Luxembourg	1.86	%
Mexico	3.51	%
Netherlands	2.13	%
Norway	0.08	%
Pakistan	0.76	%
Republic of Korea	0.37	%
Singapore	0.56	%
Supranational	3.05	%
Spain	0.04	%
Sweden	0.31	%
Switzerland	0.31	%
Taiwan	0.33	%
United Kingdom	4.00	%
United States	59.47	%
Total	95.95	%

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund
May 31, 2008 (Unaudited)

	Number of	Value
	Shares	(U.S. $)
Common Stock – 47.80%
Consumer Discretionary – 5.86%
Bayerische Motoren
Werke	10,344	$	609,936
Disney (Walt)	27,300		917,280
*Don Quijote	29,300		612,733
Gap	40,100		731,825
Home Depot	24,700		675,792
*KB HOME	17,000		348,670
Kesa Electricals	145,228		584,773
Koninklijke Philips
Electronics	18,523		711,047
*Lagardere SCA	6,958		502,163
Limited Brands	38,300		742,254
Mattel	40,100		807,614
McGraw-Hill Companies	20,600		854,694
*NGK Spark Plug	37,000		460,395
†Penn National Gaming	700		32,494
*Publicis Groupe	17,199		683,496
Round One	309		378,045
Starwood Hotels &
Resorts Worldwide	20,000		967,999
Teleperformance	8,150		345,055
Toyota Motor	10,990		559,715
WPP Group	37,465		454,238
			11,980,218
Consumer Staples – 3.26%
Coca-Cola Amatil	61,537		475,880
Greggs	4,102		330,991
Heinz (H.J.)	16,800		838,488
*†Jarden	1,500		28,125
Kimberly-Clark	13,900		886,820
Kraft Foods Class A	28,300		919,184
Kroger	30,500		843,020
*Metro	8,361		616,293
Safeway	29,100		927,417
Wal-Mart Stores	13,800		796,812
			6,663,030
Diversified REITs – 1.93%
Babcock & Brown Japan
Property Trust	901,084		981,935
Entertainment Properties Trust	4,500		247,725
GPT Group	344,031		947,115
Lexington Reality Trust	60,000		935,400
Mirvac Group	265,200		834,030
			3,946,205
Energy – 3.00%
Anadarko Petroleum	10,100		757,197
BP	89,424		1,077,120
Chevron	8,600		852,690
ConocoPhillips	9,500		884,450
Devon Energy	6,500		753,610
Exxon Mobil	10,000		887,600
*Total	10,542		919,709
			6,132,376
Financials – 8.86%
Allstate	17,200		876,168
American International Group	14,300		514,800
Anglo Irish Bank	45,495		586,811
*AXA	15,168		535,781
Bank of America	19,600		666,596
*BB&T	25,600		805,632
Citigroup	31,300		685,157
*Comerica	17,400		646,932
*Dexia	20,774		489,525
Discover Financial Services	44,250		758,888
Fifth Third Bancorp	39,100		731,170
Genworth Financial	30,100		665,210
Hartford Financial
Services Group	10,100		717,807
HBOS	35,248		279,319
*ING Groep	19,444		742,168
*Lehman Brothers Holdings	19,100		703,071
*Macquarie Communications
Infrastructure Group	260,008		884,808
Mitsubishi UFJ Financial Group	58,843		601,601
Morgan Stanley	14,500		641,335
Nordea Bank	38,441		624,333
Royal Bank of Scotland
Group	36,575		165,568
Standard Chartered	16,537		613,950
SunTrust Banks	10,600		553,426
Travelers	18,000		896,580
U.S. Bancorp	24,100		799,879
Wachovia	28,400		675,920
*Washington Mutual	46,500		419,430
Wells Fargo	30,000		827,100
			18,108,965
Health Care – 4.36%
Abbott Laboratories	13,800		777,630
AstraZeneca	14,237		622,201
Baxter International	12,800		782,080
Bristol-Myers Squibb	36,400		829,556
Johnson & Johnson	13,200		880,967
Novartis	11,871		623,561
Novo Nordisk Class B	11,145		725,090
Ono Pharmaceutical	12,200		704,647
Pfizer	39,300		760,848
*Sanofi-Aventis	9,415		701,598
*Terumo	12,900		642,309
Wyeth	19,200		853,824
			8,904,311
Health Care REITs – 0.91%
*Chartwell Seniors
Housing Real Estate
Investment Trust	94,500		955,794
Extendicare Real Estate
Investment Trust	93,200		913,569
			1,869,363

(continues) 3

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

	Number of		Value
	Shares		(U.S. $)
Common Stock (continued)
Hotel REITs – 0.58%
Ashford Hospitality Trust		37,900	$	232,706
Hospitality Properties Trust		30,700		951,700
				1,184,406
Industrial REITs – 1.21%
Cambridge Industrial Trust		2,167,000		1,154,353
*ING Industrial Fund		686,475		1,309,122
				2,463,475
Industrials – 4.37%
*Asahi Glass		41,000		539,719
*Compagnie de Saint-Gobain		6,550		528,139
Donnelley (R.R.) & Sons		22,200		728,826
FedEx		10,000		917,100
General Electric		24,200		743,424
Honeywell International		13,100		781,022
Lafarge		3,483		629,780
Macquarie Airports		396,414		1,098,903
Pitney Bowes		19,900		722,569
Tomkins		91,289		327,343
Travis Perkins		15,862		262,864
Vallourec		2,260		700,018
Waste Management		24,900		944,457
				8,924,164
Information Technology – 3.90%
Canon		11,700		631,383
†CGI Group Class A		75,162		808,616
†EMC		55,000		959,200
Fujitsu		75,000		607,455
Intel		35,400		820,572
International Business
Machines		6,200		802,466
Motorola		83,300		777,189
Nokia		22,697		654,163
Samsung Electronics		995		717,042
*Techtronic Industries		504,500		481,603
Xerox		52,500		712,950
				7,972,639
Malls REITs – 0.51%
General Growth Properties		25,000		1,039,000
				1,039,000
Materials – 1.45%
Dow Chemical		20,800		840,320
duPont (E.I.) deNemours		15,900		761,769
*Linde		3,825		574,118
Weyerhaeuser		12,700		791,591
				2,967,798
Mortgage REITs – 0.40%
Annaly Mortgage
Management		6,200		110,422
*Chimera Investment		15,000		207,900
*Gramercy Capital		17,200		288,100
KKR Financial Holdings		17,900		217,664
				824,086
Office REITs – 1.47%
HRPT Properties Trust		122,400		953,496
ING UK Real Estate Trust		317,470		415,100
Japan Prime Realty
Investment		160		529,590
Mack-Cali Realty		28,600		1,105,105
				3,003,291
Real Estate Operating Companies – 0.22%
*Macquarie Infrastructure		9,600		319,104
Marriott International Class A		4,600		151,386
				470,490
Retail REITs – 0.93%
*APN/UKA European
Retail Trust		1,310,620		526,185
*Macquarie CountryWide Trust		355,587		401,089
Macquarie DDR Trust		1,284,059		687,362
Ramco-Gershenson
Properties		12,500		279,375
				1,894,011
Telecommunications – 2.64%
AT&T		20,400		813,960
Chunghwa Telecom ADR		27,318		676,667
Sprint Nextel		86,500		809,640
Telefonos de Mexico ADR		18,100		746,082
Telstra		90,873		412,611
†Telstra - New		87,290		396,342
Verizon Communications		22,500		865,575
Vodafone		208,205		669,241
				5,390,118
Utilities – 1.94%
American Electric Power		21,200		897,396
Duke Energy		42,200		779,856
National Grid		42,171		623,245
Progress Energy		21,100		902,236
Public Service
Enterprise Group		17,400		770,124
				3,972,857
Total Common Stock
(cost $117,626,851)				97,710,803

Convertible Preferred Stock – 4.48%
Automobiles & Automotive Parts – 0.28%
*General Motors 5.25%
exercise price $64.90,
expiration date 3/6/32		34,500		559,590
				559,590
Banking, Finance & Insurance – 2.96%
*Fannie Mae 8.75% exercise
price $32.45, expiration
date 5/13/11		20,000		997,500
#Goldman Sachs Group
144A 35.60% exercise
price $100.00,
expiration date 8/22/08		20,000		1,931,420

	Number of		Value
	Shares		(U.S. $)
Common Stock (continued)
Banking, Finance & Insurance (continued)
#Morgan Stanley 144A
11.00% exercise price
$94.64, expiration
date 1/7/09		10,400	$	979,628
35.50% exercise price
$100.00, expiration
date 10/28/08		1,700		1,648,040
XL Capital 7.00% exercise
price $80.59, expiration
date 2/15/09		36,000		501,120
				6,057,708
Health Care & Pharmaceuticals – 0.85%
Mylan 6.50% exercise price
$17.08, expiration
date 11/15/10		1,000		948,660
Schering-Plough
6.00% exercise price
$33.69, expiration
date 8/13/10		4,000		784,750
				1,733,410
Telecommunications – 0.39%
Lucent Technologies Capital
Trust I 7.75% exercise
price $24.80, expiration
date 3/15/17		1,000		800,250
				800,250
Total Convertible Preferred Stock
(cost $10,436,044)				9,150,958

	Principal
	Amount°
Agency Collateralized Mortgage Obligations – 0.41%
Fannie Mae
Series 2001-50 BA
7.00% 10/25/41	USD	210,991		222,892
Series 2003-122 AJ
4.50% 2/25/28		149,978		149,530
Series 2005-67 EY
5.50% 8/25/25		65,000		62,485
Freddie Mac
Series 2557 WE
5.00% 1/15/18		60,000		59,926
Series 3005 ED
5.00% 7/15/25		100,000		96,454
•Series 3094 US
6.75% 9/15/34		140,429		128,843
Series 3113 QA
5.00% 11/15/25		62,202		63,066
Series 3131 MC
5.50% 4/15/33		40,000		40,410
Series 3337 PB
5.50% 7/15/30		25,000		25,274
Total Agency Collateralized
Mortgage Obligations
(cost $834,830)				848,880

Agency Mortgage-Backed Securities – 3.40%
•Fannie Mae ARM
5.124% 11/1/35		38,916		39,618
5.287% 3/1/38		88,979		90,475
5.392% 4/1/36		53,047		53,907
6.037% 10/1/36		54,575		55,827
6.089% 10/1/36		36,382		37,214
6.335% 4/1/36		246,246		254,159
Fannie Mae S.F. 30 yr
5.50% 9/1/36		74,208		73,890
5.50% 4/1/37		1,102,355		1,095,678
*6.00% 7/1/37		722,108		733,305
6.50% 6/1/36		63,762		65,821
6.50% 10/1/36		61,492		63,477
6.50% 3/1/37		52,503		54,198
6.50% 7/1/37		1,014,816		1,047,361
6.50% 8/1/37		72,208		74,524
6.50% 11/1/37		53,633		55,353
6.50% 12/1/37		69,178		71,397
Freddie Mac 6.00% 1/1/17		169,023		172,615
•Freddie Mac ARM
5.512% 8/1/36		73,837		75,307
5.674% 7/1/36		37,155		37,907
5.825% 10/1/36		96,926		99,019
Freddie Mac S.F. 15 yr
5.00% 6/1/18		35,928		35,970
Freddie Mac S.F. 30 yr
5.00% 1/1/34		1,394,755		1,353,042
7.00% 11/1/33		86,712		91,974
9.00% 9/1/30		101,518		112,803
Freddie Mac S.F. 30 yr TBA
5.00% 6/1/38		175,000		169,039
GNMA I S.F. 30 yr
7.50% 12/15/23		166,047		178,449
7.50% 1/15/32		127,208		136,692
9.50% 9/15/17		91,493		100,965
12.00% 5/15/15		97,550		111,848
GNMA II S.F. 30 yr
6.00% 11/20/28		153,413		156,956
6.50% 2/20/30		234,602		243,237
Total Agency Mortgage-Backed
Securities (cost $6,809,170)				6,942,027

Agency Obligations – 2.34%
Fannie Mae
¥4.75% 11/19/12		1,060,000		1,094,136
6.25% 2/1/11		30,000		31,612
Freddie Mac
*4.125% 10/18/10		30,000		30,535
*4.125% 12/21/12		2,370,000		2,384,402
*6.875% 9/15/10		1,100,000		1,185,027
*Tennessee Valley Authority
4.875% 1/15/48		65,000		60,319
Total Agency Obligations
(cost $4,760,838)				4,786,031

(continues) 5

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

	Principal		Value
	Amount°		(U.S. $)
Commercial Mortgage-Backed Securities – 0.66%
•Bank of America
Commercial Mortgage
Securities
Series 2004-3 A5
5.316% 6/10/39	USD	60,000	$	60,971
Series 2005-6 AM
5.352% 9/10/47		25,000		23,609
Series 2006-3 A4
5.889% 7/10/44		150,000		151,461
•Bear Stearns Commercial
Mortgage Securities
Series 2007-T28 A4
5.742% 9/11/17		65,000		63,474
•Credit Suisse First Boston
Mortgage Securities
Series 2005-C6 A4
5.23% 12/15/40		150,000		146,641
•Greenwich Capital
Commercial Funding
Series 2004-GG1 A7
5.317% 6/10/36		35,000		34,927
•Merrill Lynch/Countrywide
Commercial Mortgage
Trust Series 2007-7 A4
5.81% 6/12/50		150,000		147,048
Morgan Stanley Capital I
Series 2005-IQ9 A4
4.66% 7/15/56		350,000		335,091
•Series 2006-HQ9 A4
5.731% 7/12/44		175,000		174,835
•Series 2007-IQ14 A4
5.692% 4/15/49		150,000		146,006
•Series 2007-T27 A4
5.65% 6/11/42		75,000		73,413
Total Commercial Mortgage-Backed
Securities (cost $1,346,778)				1,357,476

Convertible Bonds – 2.71%
Basic Industry – 0.53%
Rayonier TRS Holdings
3.75% 10/15/12
exercise price $54.82,
expiration date
10/15/12		1,000,000		1,070,000
				1,070,000
Computers & Technology – 0.33%
Advanced Micro Devices
6.00% 5/1/15
exercise price $28.08,
expiration date 5/1/15		1,000,000		680,000
				680,000
Health Care & Pharmaceuticals – 1.15%
Advanced Medical
Optics 3.25% 8/1/26
exercise price $59.61,
expiration date 8/1/26		80,000		62,300
*Genzyme 1.25% 12/1/23
exercise price $71.24,
expiration date 12/1/23		1,000,000		1,080,000
Health Management
Associates
4.375% 8/1/23 exercise
price $13.93, expiration
date 8/1/23		1,200,000		1,203,000
				2,345,300
Industrial – 0.02%
Allied Waste Industries
4.25% 4/15/34 exercise
price $20.43, expiration
date 4/15/34		47,000		45,238
				45,238
Telecommunications – 0.20%
#Virgin Media 144A
6.50% 11/15/16 exercise
price $19.22, expiration
date 11/15/16		355,000		404,700
				404,700
Transportation – 0.48%
*JetBlue Airways
3.50% 7/15/33 exercise
price $28.33, expiration
date 7/15/33		1,000,000		987,500
				987,500
Total Convertible Bonds
(cost $5,596,811)				5,532,738

Corporate Bonds – 21.18%
Banking – 1.49%
Bank of America
4.90% 5/1/13		55,000		54,328
5.65% 5/1/18		40,000		38,836
Bank of New York Mellon
4.50% 4/1/13		105,000		103,679
JPMorgan Chase Capital
XXV 6.80% 10/1/37		60,000		53,921
•Kazkommerts
International
8.625% 7/27/16		1,000,000		839,200
PNC Funding
5.625% 2/1/17		60,000		56,806
*#TuranAlem Finance 144A
8.50% 2/10/15		2,000,000		1,770,001
US Bank North America
4.80% 4/15/15		35,000		33,685
•USB Capital IX
6.189% 4/15/49		45,000		37,824
•Wells Fargo Capital XIII
7.70% 12/29/49		65,000		65,214
				3,053,494

	Principal		Value
	Amount°		(U.S. $)
Corporate Bonds (continued)
Basic Industries – 2.36%
*#ArcelorMittal 144A
6.125% 6/1/18	USD	75,000	$	73,214
*Domtar 7.125% 8/15/15		80,000		76,800
#Evraz Group 144A
8.25% 11/10/15		1,000,000		988,701
9.50% 4/24/18		415,000		425,873
Freeport McMoRan Copper
& Gold 8.25% 4/1/15		165,000		175,128
Georgia-Pacific
*7.70% 6/15/15		105,000		104,738
8.875% 5/15/31		208,000		206,960
Innophos 8.875% 8/15/14		100,000		102,500
#Innophos Holdings 144A
9.50% 4/15/12		85,000		82,450
International Paper
7.95% 6/15/18		100,000		100,518
Lubrizol 4.625% 10/1/09		90,000		89,403
#MacDermid 144A
9.50% 4/15/17		155,000		151,125
Momentive Performance
Materials
9.75% 12/1/14		180,000		167,850
#NewPage 144A
10.00% 5/1/12		140,000		149,800
#Norske Skogindustrier
144A 7.125% 10/15/33		250,000		158,750
*#Rock-Tenn 144A
9.25% 3/15/16		80,000		84,800
Rockwood
Specialties Group
7.50% 11/15/14		110,000		108,350
Rohm & Haas
5.60% 3/15/13		45,000		45,042
•#Ryerson 144A
10.248% 11/1/14		160,000		148,400
#Sappi Papier Holding
144A 6.75% 6/15/12		135,000		127,037
#Steel Dynamics 144A
7.75% 4/15/16		215,000		216,613
Vale Overseas
6.875% 11/21/36		979,000		975,162
•Verso Paper Holdings
6.623% 8/1/14		80,000		74,800
				4,834,014
Brokerage – 0.71%
Citigroup 6.125% 5/15/18		55,000		54,052
Goldman Sachs Group
6.15% 4/1/18		70,000		69,381
6.75% 10/1/37		20,000		18,823
Jefferies Group
6.45% 6/8/27		55,000		43,359
JPMorgan Chase
6.40% 5/15/38		40,000		38,582
LaBranche 11.00% 5/15/12		95,000		98,088
Lehman Brothers Holdings
5.625% 1/24/13		40,000		38,100
6.875% 7/17/37		50,000		43,298
Merrill Lynch
6.875% 4/25/18		40,000		39,281
#Morgan Stanley 144A
10.09% 5/3/17	BRL	2,000,000		1,014,448
				1,457,412
Capital Goods – 1.41%
*Associated Materials
9.75% 4/15/12	USD	100,000		100,000
BWAY 10.00% 10/15/10		120,000		121,500
DRS Technologies
7.625% 2/1/18		145,000		156,963
Graham Packaging
8.50% 10/15/12		165,000		160,875
Graphic Packaging
International
8.50% 8/15/11		120,000		121,800
Greenbrier 8.375% 5/15/15		170,000		164,475
Honeywell International
5.30% 3/1/18		40,000		39,533
KB Home
7.75% 2/1/10		45,000		44,438
*8.625% 12/15/08		95,000		96,425
Lockheed Martin
4.121% 3/14/13		35,000		33,947
#Moog 144A 7.25% 6/15/18		25,000		25,313
NXP BV Funding
9.50% 10/15/15		315,000		298,068
*Owens Brockway
Glass Container
6.75% 12/1/14		100,000		101,750
Owens Corning
6.50% 12/1/16		90,000		79,143
*Smurfit-Stone Container
Enterprises
8.00% 3/15/17		90,000		78,075
Textron 6.50% 6/1/12		30,000		31,318
Thermadyne Holdings
10.50% 2/1/14		70,000		68,600
Vitro 11.75% 11/1/13		1,150,000		1,155,749
				2,877,972
Consumer Cyclical – 1.54%
CVS Caremark
4.875% 9/15/14		45,000		43,342
5.75% 6/1/17		63,000		62,456
•Daimler Finance
North America
3.234% 8/3/09		85,000		84,547
*Dollar General
10.625% 7/15/15		150,000		147,750
DR Horton 8.00% 2/1/09		95,000		95,475
Ford Motor 7.45% 7/16/31		210,000		146,475

(continues) 7

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

	Principal		Value
	Amount°		(U.S. $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
*Ford Motor Credit
7.80% 6/1/12	USD	865,000	$	765,925
General Motors
8.375% 7/15/33		210,000		144,900
GMAC
*5.85% 1/14/09		80,000		78,599
6.875% 8/28/12		695,000		560,299
Lear 8.75% 12/1/16		275,000		250,938
Neiman Marcus Group
*10.375% 10/15/15		40,000		41,550
PIK 9.00% 10/15/15		120,000		123,300
Penney (J.C.)
7.375% 8/15/08		45,000		45,222
Sonic Automotive
8.625% 8/15/13		80,000		78,000
*Tenneco 8.625% 11/15/14		165,000		164,175
Toll Brothers
8.25% 2/1/11		35,000		33,950
8.25% 12/1/11		50,000		48,250
Travelport 9.875% 9/1/14		160,000		154,800
VF 5.95% 11/1/17		25,000		24,689
Wal-Mart Stores
6.20% 4/15/38		52,000		51,265
				3,145,907
Consumer Non-Cyclical – 1.20%
ACCO Brands
7.625% 8/15/15		90,000		83,250
#AmBev International
Finance 144A
9.50% 7/24/17	BRL	1,189,000		626,847
Amgen
5.85% 6/1/17	USD	45,000		44,002
6.15% 6/1/18		35,000		34,882
*Constellation Brands
8.125% 1/15/12		340,000		345,949
Del Monte
*6.75% 2/15/15		45,000		43,763
8.625% 12/15/12		40,000		41,200
Diageo Capital
5.75% 10/23/17		50,000		49,921
#Dr Pepper Snapple Group
144A 6.82% 5/1/18		85,000		85,876
GlaxoSmithKline Capital
5.65% 5/15/18		70,000		69,342
Iron Mountain
6.625% 1/1/16		85,000		82,450
8.625% 4/1/13		80,000		81,600
*Jarden 7.50% 5/1/17		165,000		148,088
Kellogg 5.125% 12/3/12		45,000		45,504
Kraft Foods 6.125% 2/1/18		105,000		102,887
Kroger
4.95% 1/15/15		14,000		13,208
6.75% 4/15/12		35,000		36,867
PepsiCo 5.00% 6/1/18		25,000		24,357
Philip Morris International
5.65% 5/16/18		60,000		58,815
Pilgrim's Pride
7.625% 5/1/15		80,000		74,000
*8.375% 5/1/17		88,000		77,220
Schering-Plough
6.00% 9/15/17		50,000		49,567
Visant Holding
8.75% 12/1/13		90,000		90,000
Wyeth 5.50% 2/1/14		145,000		145,855
				2,455,450
Energy – 2.63%
AmeriGas Partners
7.125% 5/20/16		175,000		170,625
Apache 5.25% 4/15/13		50,000		50,757
Canadian Natural Resources
6.70% 7/15/11		15,000		15,758
Chesapeake Energy
6.375% 6/15/15		200,000		192,500
Complete Production
Service 8.00% 12/15/16		80,000		81,400
#Connacher Oil & Gas 144A
10.25% 12/15/15		185,000		196,100
Conoco Phillips
5.20% 5/15/18		25,000		24,646
*#Copano Energy 144A
7.75% 6/1/18		80,000		79,900
Dynergy Holdings
7.75% 6/1/19		310,000		295,274
*#Enbridge Energy Partners
144A 6.50% 4/15/18		40,000		40,077
Energy Partners
9.75% 4/15/14		85,000		80,325
Energy Transfer Partners
7.50% 7/1/38		25,000		25,934
Enterprise Products
Operating
5.60% 10/15/14		50,000		48,606
6.50% 1/31/19		40,000		40,321
*•8.375% 8/1/66		100,000		100,584
Ferrellgas Finance Escrow
6.75% 5/1/14		130,000		124,800
Foundation Pennsylvania
Coal 7.25% 8/1/14		230,000		236,900
#Helix Energy Solutions
Group 144A
9.50% 1/15/16		185,000		193,325
#Hilcorp Energy I 144A
7.75% 11/1/15		210,000		206,325
International Coal Group
10.25% 7/15/14		120,000		120,600
*#Key Energy Services 144A
8.375% 12/1/14		110,000		114,125

	Principal		Value
	Amount°		(U.S. $)
Corporate Bonds (continued)
Energy (continued)
Kinder Morgan
Energy Partners
5.125% 11/15/14	USD	30,000	$	28,749
#MarkWest Energy Partners
144A 8.75% 4/15/18		150,000		157,875
Massey Energy
6.875% 12/15/13		165,000		163,350
OPTI Canada
7.875% 12/15/14		225,000		228,938
*Petro-Canada
6.05% 5/15/18		60,000		59,066
#PetroHawk Energy 144A
7.875% 6/1/15		245,000		245,919
#Plains All American Pipeline
144A 6.50% 5/1/18		53,000		52,898
Plains Exploration
& Production
7.00% 3/15/17		500,000		483,749
Range Resources
7.25% 5/1/18		35,000		35,700
Regency Energy Partners
8.375% 12/15/13		150,000		156,000
Suncor Energy
6.50% 6/15/38		20,000		19,430
TNK-BP Finance
7.875% 3/13/18		1,000,000		988,799
Valero Energy
6.125% 6/15/17		35,000		34,188
6.625% 6/15/37		7,000		6,493
Whiting Petroleum
7.25% 5/1/13		260,000		260,000
XTO Energy 5.30% 6/30/15		15,000		14,713
				5,374,749
Finance & Investments – 1.09%
Ÿ#American International
Group 144A
8.175% 5/15/58		40,000		38,477
Berkshire Hathaway Finance
4.85% 1/15/15		40,000		39,679
#Berkshire Hathaway Finance
144A 5.40% 5/15/18		35,000		34,989
Capmark Financial Group
6.30% 5/10/17		45,000		33,071
Cardtronics 9.25% 8/15/13		40,000		38,400
#Cardtronics 144A
9.25% 8/15/13		120,000		115,200
EnCana Holdings Finance
5.80% 5/1/14		30,000		30,687
*FTI Consulting
7.625% 6/15/13		280,000		291,199
General Electric Capital
5.625% 5/1/18		20,000		19,794
5.875% 1/14/38		5,000		4,558
Ÿ#ILFC E-Capital Trust II
144A 6.25% 12/21/65		50,000		41,166
*#Inergy Finance 144A
8.25% 3/1/16		145,000		148,262
International Lease Finance
5.35% 3/1/12		45,000		43,596
5.875% 5/1/13		30,000		29,403
6.375% 3/25/13		15,000		15,008
6.625% 11/15/13		50,000		48,858
*Leucadia National
8.125% 9/15/15		86,000		88,473
#LVB Acquisition Merger Sub
144A 10.00% 10/15/17		145,000		156,237
MetLife 6.40% 12/15/36		45,000		39,673
P@Montpelier Re Holdings
6.125% 8/15/13		15,000		14,577
#Nuveen Investments 144A
10.50% 11/15/15		155,000		146,475
Red Arrow International
Leasing 8.375% 3/31/12	RUB	12,432,423		525,161
Unitrin 6.00% 5/15/17	USD	55,000		49,285
Washington Mutual
*5.25% 9/15/17		35,000		29,452
5.50% 8/24/11		55,000		50,912
Ÿ#White Mountains Re Group
144A 7.506% 5/29/49		195,000		147,878
				2,220,470
Industrial – 0.05%
Trimas 9.875% 6/15/12		100,000		93,500
				93,500
Media – 1.30%
CCO Holdings
8.75% 11/15/13		135,000		128,925
#Charter Communications
Operating 144A
10.78% 9/15/14		370,000		397,750
Comcast
6.30% 11/15/17		35,000		35,566
6.40% 5/15/38		30,000		28,538
Dex Media West
9.875% 8/15/13		225,000		217,406
#DirecTV Holdings 144A
7.625% 5/15/16		155,000		155,194
Echostar DBS
7.125% 2/1/16		70,000		67,200
Grupo Televisa
8.49% 5/11/37	MXN	10,000,000		892,440
Lamar Media
6.625% 8/15/15	USD	70,000		66,325
*6.625% 8/15/15		5,000		4,738
#LBI Media 144A
8.50% 8/1/17		75,000		61,125
News America
6.65% 11/15/37		15,000		14,865

(continues) 9

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

	Principal		Value
	Amount°		(U.S. $)
Corporate Bonds (continued)
Media (continued)
Quebecor Media
7.75% 3/15/16	USD	190,000	$	187,150
Time Warner Cable
5.40% 7/2/12		40,000		39,527
Univision Communications
7.85% 7/15/11		80,000		76,000
Viacom
·3.15% 6/16/09		25,000		24,693
5.75% 4/30/11		30,000		30,159
#Videotron 144A
9.125% 4/15/18		165,000		177,375
#Vivendi 144A
6.625% 4/4/18		60,000		59,367
				2,664,343
Real Estate – 0.13%
iStar Financial
5.15% 3/1/12		25,000		21,924
5.875% 3/15/16		45,000		38,814
8.625% 6/1/13		165,000		163,307
Regency Centers
5.875% 6/15/17		35,000		32,470
				256,515
Services Cyclical – 1.10%
ARMARK
·6.373% 2/1/15		75,000		72,375
8.50% 2/1/15		145,000		149,169
Burlington North
5.65% 5/1/17		37,000		36,477
5.75% 3/15/18		55,000		54,488
Corrections Corporation
of America
6.25% 3/15/13		65,000		64,350
#Galaxy Entertainment
Finance 144A
9.875% 12/15/12		280,000		284,199
Gaylord Entertainment
8.00% 11/15/13		160,000		155,200
Global Cash Access
8.75% 3/15/12		130,000		130,000
*Harrah’s Operating
5.50% 7/1/10		180,000		164,475
Hertz 8.875% 1/1/14		170,000		170,000
Kansas City Southern de
Mexico 9.375% 5/1/12		215,000		225,750
Majestic Star Casino
9.50% 10/15/10		70,000		60,725
MGM MIRAGE
7.50% 6/1/16		295,000		263,656
7.625% 1/15/17		142,000		125,670
#Norfolk Southern 144A
5.75% 4/1/18		20,000		19,809
*Park Place Entertainment
7.875% 3/15/10		120,000		114,300
#Seminole Indian Tribe of
Florida 144A
7.804% 10/1/20		120,000		115,198
8.03% 10/1/20		55,000		53,485
				2,259,326
Services Non-cyclical – 1.23%
*Advanced Medical Optics
7.50% 5/1/17		165,000		155,100
Allied Waste North America
7.375% 4/15/14		75,000		76,125
7.875% 4/15/13		80,000		82,200
AstraZeneca
5.90% 9/15/17		40,000		40,995
*#Bausch & Lomb 144A
9.875% 11/1/15		280,000		294,000
Casella Waste Systems
9.75% 2/1/13		200,000		201,000
Community Health Systems
8.875% 7/15/15		215,000		222,794
#Covidien International
Finance 144A
6.00% 10/15/17		9,000		9,140
6.55% 10/15/37		45,000		45,159
HCA
9.25% 11/15/16		445,000		471,143
PIK 9.625% 11/15/16		256,000		270,720
·HealthSouth
10.829% 6/15/14		150,000		153,750
Quest Diagnostic
5.45% 11/1/15		55,000		52,638
Select Medical
7.625% 2/1/15		95,000		85,025
UnitedHealth Group
5.50% 11/15/12		80,000		78,807
5.80% 3/15/36		30,000		25,058
Universal Hospital Services PIK
8.50% 6/1/15		150,000		152,250
WellPoint
5.00% 1/15/11		60,000		59,432
5.00% 12/15/14		52,000		48,798
				2,524,134
Technology & Electronics – 0.33%
Freescale Semiconductor
·6.675% 12/15/14		125,000		106,250
8.875% 12/15/14		10,000		8,900
Oracle 5.75% 4/15/18		70,000		69,707
Sungard Data Systems
9.125% 8/15/13		168,000		173,880
*10.25% 8/15/15		248,000		259,160
Xerox 5.50% 5/15/12		55,000		54,656
				672,553

	Principal		Value
	Amount°		(U.S. $)
Corporate Bonds (continued)
Telecommunications – 3.53%
Alltel Corp 7.00% 7/1/12	USD	175,000	$	154,000
*AT&T 5.60% 5/15/18		97,000		95,603
AT&T Wireless
8.125% 5/1/12		125,000		136,950
Broadview Networks
Holdings 11.375% 9/1/12		85,000		81,600
·Centennial Communications
8.448% 1/1/13		105,000		100,538
Citizens Communications
9.00% 8/15/31		500,000		464,999
*Clear Channel
Communications
5.50% 9/15/14		110,000		72,137
Cricket Communications
9.375% 11/1/14		235,000		227,950
#CSC Holdings 144A
8.50% 6/15/15		120,000		120,600
#Digicel 144A
9.25% 9/1/12		200,000		206,500
#Digicel Group 144A
8.875% 1/15/15		1,000,000		919,999
WInmarsat Finance
10.375% 11/15/12		305,000		306,525
Intelsat Bermuda
11.25% 6/15/16		165,000		169,125
Lucent Technologies
6.45% 3/15/29		155,000		119,544
MetroPCS Wireless
9.25% 11/1/14		313,000		302,436
Nortel Networks
·6.963% 7/15/11		180,000		170,100
10.75% 7/15/16		145,000		143,913
#Nortel Networks 144A
10.75% 7/15/16		5,000		4,963
PAETEC Holding
9.50% 7/15/15		425,000		401,625
Qwest 6.50% 6/1/17		380,000		354,350
Qwest Capital Funding
7.25% 2/15/11		75,000		73,688
·Rural Cellular
8.623% 11/1/12		245,000		250,513
Sprint Capital
8.375% 3/15/12		385,000		374,709
Telecom Italia Capital
4.00% 1/15/10		75,000		73,922
7.721% 6/4/38		30,000		30,277
Telefonica Emisiones
5.984% 6/20/11		75,000		75,944
Verizon Communications
5.55% 2/15/16		80,000		79,735
6.90% 4/15/38		18,000		18,766
#Vimpelcom 144A
9.125% 4/30/18		1,155,000		1,194,562
Virgin Media Finance
8.75% 4/15/14		310,000		306,125
Windstream 8.125% 8/1/13		175,000		179,813
				7,211,511
Utilities – 1.08%
AES
*7.75% 3/1/14		105,000		105,525
#144A 8.00% 6/1/20		120,000		118,500
Centerpoint Energy Resources
6.00% 5/15/18		25,000		24,143
Columbus Southern
Power 6.05% 5/1/18		20,000		19,791
Commonwealth Edison
6.15% 9/15/17		35,000		34,942
*Connecticut Light &
Power 5.65% 5/1/18		25,000		24,808
Duke Energy Carolinas
6.05% 4/15/38		10,000		9,834
Edison Mission Energy
7.625% 5/15/27		225,000		213,188
Illinois Power
6.125% 11/15/17		30,000		28,964
Mirant North America
7.375% 12/31/13		180,000		182,250
Northern States Power
5.25% 3/1/18		25,000		24,732
NRG Energy
7.375% 2/1/16		440,000		430,099
Peco Energy
5.35% 3/1/18		20,000		19,742
Potomac Electric Power
6.50% 11/15/37		20,000		19,813
*Public Service Electric & Gas
5.30% 5/1/18		30,000		29,495
#Texas Competitive Electric
Holdings 144A
10.25% 11/1/15		865,000		887,705
#West Penn Power 144A
5.95% 12/15/17		25,000		25,050
				2,198,581
Total Corporate Bonds
(cost $43,868,327)				43,299,931

Foreign Agencies – 1.55%
France – 0.02%
France Telecom
7.75% 3/1/11		45,000		48,214
				48,214
Germany – 0.44%
KFW 11.75% 8/8/08	ISK	63,700,000		857,049
Rentenbank
3.25% 3/15/13	USD	50,000		48,534
				905,583

(continues) 11

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

	Principal		Value
	Amount°		(U.S. $)
Foreign Agencies (continued)
Luxembourg – 0.57%
#Gazprom 144A
8.625% 4/28/34	USD	1,000,000	$	1,165,300
				1,165,300
Republic of Korea – 0.02%
Korea Development Bank
5.30% 1/17/13		45,000		44,584
				44,584
United States – 0.50%
#Pemex Project Funding
Master Trust 144A
6.625% 6/15/35		1,000,000		1,014,795
				1,014,795
Total Foreign Agencies
(cost $3,394,328)				3,178,476

Municipal Bonds – 0.10%
New York Tobacco
Settlement Finance
Authority Series B
5.00% 6/1/10		80,000		83,452
Portland, Oregon Sewer
System Revenue Series A
5.00% 6/15/18		60,000		65,921
West Virginia Tobacco
Settlement
Finance Authority
7.467% 6/1/47		65,000		59,794
Total Municipal Bonds
(cost $212,678)				209,167

Non-Agency Asset-Backed Securities – 0.52%
Capital Auto Receivables
Asset Trust Series
2007-3 A3A
5.02% 9/15/11		75,000		75,680
Caterpillar Financial
Asset Trust
Series 2007-A A3A
5.34% 6/25/12		20,000		20,073
Series 2008-A A3
4.94% 4/25/14		30,000		29,795
Centex Home Equity
Series 2005-D AF4
5.27% 10/25/35		150,000		147,546
CNH Equipment Trust
Series 2007-B A3A
5.40% 10/17/11		30,000		30,221
Series 2008-A3
4.12% 5/15/12		20,000		19,724
Series 2008-B A3A
4.78% 7/16/12		30,000		29,953
Discover Card Master Trust
Series 2007-A1 A1
5.65% 3/16/20		100,000		96,393
#Dunkin Securitization
Series 2006-1 A2 144A
5.779% 6/20/31		150,000		134,954
Harley-Davidson
Motorcycle Trust
Series 2005-2 A2
4.07% 2/15/12		116,525		116,671
Series 2006-2 A2
5.35% 3/15/13		150,000		151,890
Hyundai Auto Receivables
Trust Series 2007-A
A3A 5.04% 1/17/12		20,000		20,128
John Deere Owner Trust
Series 2008-A A3
4.40% 6/15/12		35,000		34,245
WFS Financial Owner
Trust Series 2005-1 A4
3.87% 8/17/12		146,104		146,240
Total Non-Agency Asset-Backed
Securities (cost $1,066,115)				1,053,513

Non-Agency Collateralized Mortgage Obligations – 0.92%
P@·Bear Stearns Adjustable
Rate Mortgage Trust
Series 2007-1 3A2
5.747% 2/25/47		273,246		239,717
Citicorp Mortgage Securities
Series 2006-3 1A4
6.00% 6/25/36		70,000		63,804
Series 2007-1 2A1
5.50% 1/25/22		321,049		305,256
·Citigroup Mortgage Loan
Trust Series 2007-AR8
1A3A 6.052% 8/25/37		97,215		88,456
P@w·Countrywide Home
Loan Mortgage
Pass Through Trust
Series 2004-HYB4 M
4.809% 9/20/34		20,860		16,826
·First Horizon Asset
Securities
Series 2007-AR2 1A1
5.854% 8/25/37		155,620		143,948
Series 2007-AR3 2A2
6.309% 11/25/37		123,037		115,886
·GSR Mortgage Loan Trust
Series 2006-AR1 3A1
5.377% 1/25/36		203,532		189,580
·JPMorgan Mortgage Trust
Series 2004-A5 4A2
4.829% 12/25/34		340,190		335,205
·MASTR Adjustable Rate
Mortgages Trust
Series 2006-2 4A1
4.978% 2/25/36		120,935		112,505

	Principal		Value
	Amount°		(U.S. $)
Non-Agency Collateralized Mortgage Obligations (continued)
Õ@·Structured Adjustable Rate
Mortgage Loan Trust
Series 2005-22 4A2
5.374% 12/25/35	USD	41,738	$	36,513
·Wells Fargo Mortgage
Backed Securities Trust
Series 2005-AR2 2A1
4.545% 3/25/35		100,335		96,430
Series 2005-AR16 6A4
5.00% 10/25/35		74,199		68,999
Series 2006-AR14 2A4
6.09% 10/25/36		72,138		69,109
Total Non-Agency Collateralized
Mortgage Obligations
(cost $1,987,953)				1,882,234

Regional Authorities – 0.03%
Canada – 0.03%
Quebec Providence
4.625% 5/14/18		55,000		54,364
Total Regional Authorities
(cost $54,669)				54,364

«Senior Secured Loans – 1.21%
Affirmative Insurance
Holdings 7.761% 1/31/14		352,209		311,705
Calpine 5.57% 3/29/14		150,000		145,386
Ford Motor
5.80% 11/29/13		307,663		266,072
RSC Equipment Rental
6.228% 11/30/12		500,000		472,500
Talecris Biotherapeutics
2nd Lien
9.18% 12/6/14		500,000		445,000
Venetian Macau
4.946% 5/26/13		500,000		482,500
Visteon 7.194% 6/13/13		400,000		343,168
Total Senior Secured Loans
(cost $2,702,100)				2,466,331

Sovereign Debt – 4.53%
Argentina – 0.51%
*Republic of Argentina
8.28% 12/31/33		1,280,854		1,047,098
				1,047,098
Colombia – 0.24%
#Santa Fe de Bogota D.C.
144A 9.75% 7/26/28	COP	1,000,000,000		490,724
				490,724
Indonesia – 0.48%
#Republic of Indonesia
144A 7.75% 1/17/38	USD	1,000,000		987,500
				987,500
Mexico – 2.03%
Mexican Bonos
9.50% 12/18/14	MXN	40,000,000		4,156,892
				4,156,892
Pakistan – 0.76%
#Republic of Pakistan 144A
6.875% 6/1/17	USD	2,000,000		1,550,000
				1,550,000
United Kingdom – 0.51%
#CS International for City
of Kyiv Ukraine 144A
8.25% 11/26/12		1,000,000		1,029,600
				1,029,600
Total Sovereign Debt
(cost $9,811,806)				9,261,814

Supranational Banks – 3.05%
European Bank for
Reconstruction
& Development
7.00% 7/30/12	ISK	41,000,000		998,257
European Investment Bank
8.00% 10/21/13	ZAR	6,880,000		801,659
11.25% 2/14/13	BRL	1,800,000		1,131,693
Inter-American
Development Bank
9.00% 8/6/10	BRL	2,081,000		1,219,198
International Bank for
Reconstruction &
Development
9.75% 8/2/10	ZAR	7,000,000		872,821
17.75% 7/30/08	TRY	1,490,000		1,217,563
Total Supranational Banks
(cost $6,235,835)				6,241,191

U.S. Treasury Obligations – 0.80%
*U.S. Treasury Bonds
5.00% 5/15/37	USD	11,000		11,529
U.S. Treasury Notes
2.625% 5/31/10		455,000		455,000
3.50% 5/31/13		815,000		818,567
*3.875% 5/15/18		350,000		345,215
Total U.S. Treasury Obligations
(cost $1,635,731)				1,630,311

Leveraged Non-Recourse Securities – 0.00%
w@#JPMorgan Pass Through
Trust Series 2007-B
144A 0.003% 1/15/87		500,000		0
Total Leveraged Non-Recourse
Securities (cost $425,000)				0

(continues) 13

Statement of net assets

Delaware Enhanced Global Dividend and Income Fund

	Number of	Value
	Shares	(U.S. $)
Preferred Stock – 0.03%
ŸJPMorgan Chase 7.90%	70,000	$ 69,910
Total Preferred Stock
(cost $70,000)		69,910

Right – 0.01%
Royal Bank of Scotland	22,351	12,508
Total Right (cost $0)		12,508

Residual Interest Trust Certificates – 0.22%
w@#Freddie Mac Auction Pass
Through Trust
Series 2007 144A	1,000,000	456,400
Total Residual Interest Trust
Certificates (cost $1,088,378)		456,400

Total Value of Securities Before Securities
Lending Collateral – 95.95%
(cost $219,964,242)		196,145,063

Securities Lending Collateral – 14.40%**
Investment Companies
Mellon GSL DBT II
Collateral Fund	29,433,089	29,433,089
Total Securities Lending Collateral
(cost $29,433,089)		29,433,089

Total Value of Securities – 110.35%
(cost $249,397,331)		225,578,152	©
Obligation to Return Securities
Lending Collateral – (14.40%)**		(29,433,089	)
Receivables and Other Assets
Net of Liabilities – 4.05%		8,284,898
Net Assets Applicable to 12,929,436 Shares
Outstanding; Equivalent to $15.81 – 100.00%		$204,429,961

Components of Net Assets at May 31, 2008:
Shares of beneficial interest
(unlimited authorization – no par)		$238,559,894
Distributions in excess of net investment income		(13,826	)
Accumulated net realized loss on investments		(10,287,999	)
Net unrealized depreciation of investments
and foreign currencies		(23,828,108	)
Total net assets		$204,429,961

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

BRL — Brazilian Real
COP — Colombian Peso
ISK — Iceland Krona
MXN — Mexican Peso
RUB — Russian Rubles
TRY — Turkish Lira
USD — United States Dollar
ZAR — South African Rand

*	Fully or partially on loan.

†	Non-income producing security for the period ended May 31, 2008.

#	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At May 31, 2008, the aggregate amount of Rule 144A securities was $25,187,217, which represented 12.32% of the Fund’s net assets. See Note 12 in “Notes to financial statements.”

Ÿ	Variable rate security. The rate shown is the rate as of May 31, 2008.

¥	Fully or partially pledged as collateral for financial futures contracts.

@	Illiquid security. At May 31, 2008, the aggregate amount of illiquid securities was $764,033 which represented 0.37% of the Fund’s net assets. See Note 12 in “Notes to financial statements.”

W	Step coupon bond. Indicates security that has a zero coupon that remains in effect until a predetermined date at which time the stated interest rate becomes effective.

Õ	Restricted security Investment in a security not registered under the Security Act of 1933, as amended. This security has certain restrictions on resale which may limit its liquidity. At May 31, 2008, the aggregate amount of the restricted securities was $307,633 or 0.15% of the Fund’s net assets. See Note 12 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.

**	See Note 11 in “Notes to financial statements.”

©	Includes $29,304,889 of securities loaned.

Summary of Abbreviations:
ADR — American Depositary Receipts
ARM — Adjustable Rate Mortgage
CDS — Credit Default Swap
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, future contracts, options written and swap contracts were outstanding at May 31, 2008:

Foreign Currency Exchange Contract¹
Contracts to		Settlement	Unrealized
Deliver	In Exchange For	Date	Depreciation
RUB (12,386,277)	USD 523,290	7/31/08	$(1,701)

Futures Contracts²
	Notional	Notional	Expiration	Unrealized
Contracts To Buy	Cost	Value	Date	Depreciation
1 Long Gilt Bond	$ 210,263	$ 209,620	9/26/08		$ (643	)
34 U.S. Treasury
5 yr Notes	3,742,170	3,737,875	9/30/08		(4,295	)
	$3,952,433				$(4,938	)

Options Written³

Number of

Notional

Exercise

Expiration

Unrealized

Description

Contracts

Value

Price

Date

Depreciation

Written Put

Options

U.S. Treasury

10 yr

Future

(50)

$ 5,000,000

$111.50

7/25/08

$(21,210

)

U.S. Treasury

10 yr

Future

(50)

5,000,000

113.00

8/22/08

(49,336

)

$10,000,000

$(70,546

)

Swap Contracts⁴
Credit Default Swap Contracts
		Annual		Unrealized
Swap Counterparty &	Notional	Protection	Termination	Appreciation
Referenced Obligation	Value	Payments	Date	(Depreciation)
Protection Purchased:
Goldman Sachs
CDX North America
Investment Grade
Index 10.1 CDS	$ 340,000	1.55%	6/20/13		$ (834	)
Kraft Food 10 yr CDS	105,000	0.77%	12/20/17		3,080
JPMorgan Chase Bank
Embarq 7 yr CDS	30,000	0.77%	9/20/14		2,036
Lehman Brothers
Home Depot 5 yr CDS	75,000	0.25%	9/20/12		1,387
ITRAXX Europe Sub
Finance 9.1 CDS	558,828	2.90%	6/20/13		4,650
Target 5 yr CDS	80,000	0.57%	12/20/12		(54	)
Washington Mutual
4 yr CDS	43,000	0.85%	9/20/11		3,715
10 yr CDS	35,000	3.15%	12/20/17		(1,533	)
	$1,266,828				$12,447

The use of foreign currency exchange contracts, futures contracts, options written, and swap 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.

¹ See Note 7 in “Notes to financial statements.”
² See Note 8 in “Notes to financial statements.”
³ See Note 9 in “Notes to financial statements.”
⁴ See Note 10 in “Notes to financial statements.”

See accompanying notes

Statement of operations

Delaware Enhanced Global Dividend and Income Fund
Six Months Ended May 31, 2008 (Unaudited)

Investment Income:
Dividends	$2,962,414
Interest	3,517,035
Securities lending income	123,554
Foreign tax withheld	(151,943	)	$ 6,451,060

Expenses:
Management fees	1,051,099
Reports to shareholders	55,906
Accounting and administration expenses	42,044
Custodian fees	23,440
Legal fees	22,885
Dividend disbursing and transfer agent fees and expenses	16,759
Pricing fees	12,292
Audit and tax	11,978
NYSE listing fees	11,875
Trustees’ fees	6,196
Insurance fees	5,732
Dues and services	1,147
Consulting fees	769
Trustees’ expenses	431
Registration fees	419		1,262,972
Less expense paid indirectly			(14,588	)
Total operating expenses			1,248,384
Net Investment Income			5,202,676

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies:
Net realized gain (loss) on:
Investments			(8,507,678	)
Foreign currencies			16,781
Futures contracts			(1,022	)
Options written			33,887
Swap contracts			37,452
Net realized loss			(8,420,580	)
Net change in unrealized appreciation/depreciation of investments and foreign currencies			(9,440,208	)
Net Realized and Unrealized Loss on Investments and Foreign Currencies			(17,860,788	)

Net Decrease in Net Assets Resulting from Operations			$(12,658,112	)

See accompanying notes

Statements of changes in net assets

Delaware Enhanced Global Dividend and Income Fund

	Six Months		6/29/07*
	Ended		to
	5/31/08		11/30/07
	(Unaudited)
Increase (Decrease) in Net Assets from Operations:
Net investment income	$ 5,202,676		$ 3,648,193
Net realized loss on investments and foreign currencies	(8,420,580	)	(2,130,622	)
Net change in unrealized appreciation/depreciation of investments and foreign currencies	(9,440,208	)	(14,387,900	)
Net decrease in net assets resulting from operations	(12,658,112	)	(12,870,329	)

Dividends and Distributions to shareholders from:¹
Net investment income	(11,015,878	)	(4,027,580	)
Tax return of capital	—		(1,480,360	)
	(11,015,878	)	(5,507,940	)
Capital Share Transactions:
Proceeds from sales of common shares, net of offering costs	—		246,382,220
Increase in net assets derived from capital share transactions	—		246,382,220
Net Increase (Decrease) in Net Assets	(23,673,990	)	228,003,951

Net Assets:
Beginning of period	228,103,951		100,000
End of period (including distributions in excess of net investment
income of $13,826 and $656,619, respectively)	$204,429,961		$228,103,951

* Date of commencement of operations.
¹ See Note 4 in “Notes to financial statements.”

See accompanying notes

Financial highlights

Delaware Enhanced Global Dividend and Income Fund

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

	Six Months		6/29/07²
	Ended		to
	5/31/08¹		11/30/07
	(Unaudited)
Net asset value, beginning of period	$17.640		$19.100

Income (loss) from investment operations:
Net investment income³	0.402		0.288
Net realized and unrealized loss on investments and foreign currencies	(1.380	)	(1.285	)
Total from investment operations	(0.978	)	(0.997	)

Less dividends and distributions from:
Net investment income	(0.852	)	(0.284	)
Return of capital	—		(0.142	)
Total dividends and distributions	(0.852	)	(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	$15.810		$17.640

Market value, end of period	$14.400		$15.370

Total return based on:⁴
Net asset value	(5.11%	)	(4.97%	)
Market value	(0.75%	)	(17.24%	)

Ratios and supplemental data:
Net assets, end of period (000 omitted)	$204,430		$228,104
Ratio of expenses to average net assets	1.19%		1.17%
Ratio of net investment income to average net assets	4.95%		3.68%
Portfolio turnover	104%		175%

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

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

³The 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.

See accompanying notes

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund
May 31, 2008 (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 asked 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 asked prices. Other long-term debt securities, credit default swap (CDS) contracts and interest rate swap contracts are valued by an independent pricing service or broker and such prices are believed to reflect the fair value of such securities. Short-term debt securities having less than 60 days to maturity are valued at amortized cost, which approximates market value. Securities lending collateral, which is invested in a collective investment vehicle (Collective Trust), is valued at unit value per share. Foreign currency exchange contracts and forward foreign cross currency exchange contracts are valued at the mean between the bid and asked prices. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available. Futures contracts and options on 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 asked prices. Generally, index swap contracts, 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 with respect to foreign securities, aftermarket trading or significant events after local market trading (e.g., government actions or pronouncements, trading volume or volatility on markets, exchanges among dealers, or news events).

Federal Income Taxes — 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. Accordingly, no provision for federal income taxes has been made in the financial statements.

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. The current annualized rate is $1.704 per share ($0.142 monthly). The Fund continues to evaluate its monthly distribution in light of ongoing economic and market conditions and may change the amount of the monthly distributions in the future.

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, 2008, 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 are due to changes in the 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 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

(continues) 19

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

1. Significant Accounting Policies (continued)
ex-dividend date that the Fund is aware of such dividends, net of all non-rebatable tax withholdings. Withholding taxes on foreign dividends have been recorded in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. Distributions received from investments in Real Estate Investment Trusts (REITs) are recorded as dividend income on the ex-dividend date as an estimate, subject to reclassification upon notice of the character of such distribution by the issuer.

The Fund receives earnings credits from its custodian when positive cash balances are maintained, which are used to offset custody fees. The expense paid under this arrangement is included in custodian fees on the statement of operations with the corresponding expense offset shown as “expense paid indirectly.”

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 adviser, an annual fee of 1.00%, which is calculated daily based on the average daily net assets of the Fund.

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, 2008, the Fund was charged $5,256 for these services.

At May 31, 2008, the Fund had liabilities payable to affiliates as follows:

Investment management fee payable to DMC	$	174,594
Fees and other expenses payable to DSC		3,243
Other expenses payable to DMC and affiliates*		42,159

*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, 2008, the Fund was charged $7,051 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 per 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, 2008, the Fund made purchases of $105,454,686 and sales of $114,724,980 of investment securities other than short-term investments.

At May 31, 2008, 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, 2008, the cost of investments was $249,940,560. At May 31, 2008, net unrealized depreciation was $24,362,408, of which $3,314,894 related to unrealized appreciation of investments and $27,677,302 related to unrealized depreciation of investments.

Effective December 1, 2007, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards 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. 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 in 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 that 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’s investments by the above FAS 157 fair value hierarchy levels as of May 31, 2008:

	Securities		Derivatives
Level 1	$	128,664,631		$	—
Level 2		86,026,360			(64,738	)
Level 3		10,887,161			—
Total	$	225,578,152		$	(64,738	)

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

	Securities			Derivatives
Balance as of 11/30/2007	$	11,979,155			$—
Net realized gain (loss)		(548,507	)		—
Net change in unrealized
appreciation/(depreciation)		749,391			—
Net purchases, sales and settlements		(1,717,878	)		—
Net transfers in and/or out of Level 3		425,000			—
Balance as of 5/31/2008	$	10,887,161			$—
Net change in unrealized
appreciation/depreciation from
Investments still held as of 5/31/2008	$	228,739			$—

4. Dividend 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 transactions 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, 2008 and the period ended November 30, 2007 was as follows:

	Six Months		6/29/07**
	Ended		to
	5/31/08*		11/30/07
Ordinary income	$	11,015,878	$	4,027,580
Return of capital		—		1,480,360
Total	$	11,015,878	$	5,507,940

*Tax information for the period ended May 31, 2008 is an estimate and the tax character of dividends and distributions may be redesignated at fiscal year end.

**Date of commencement of operations.

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, 2008, the estimated components of net assets on a tax basis were as follows:

Shares of beneficial interest	$	238,559,894
Realized losses 12/1/07 – 5/31/08		(8,105,251	)
Capital loss carryforwards		(1,723,170	)
Unrealized depreciation of investments
and foreign currencies		(24,301,512	)
Net assets	$	204,429,961

The differences between book basis and tax basis components of net assets are primarily attributable to tax deferral of losses on wash sales, mark-to-market on futures contracts, market-to-market on foreign currency contracts, passive foreign investment companies, and tax treatment of CDS contracts.

For financial reporting purposes, capital accounts are adjusted to reflect the tax character of permanent book/tax differences. Reclassifications are primarily due to tax treatment of dividends and distributions, gain (loss) on foreign currency transactions, foreign futures contracts, CDS contracts, paydowns 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, 2008, 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	$	6,455,995
Accumulated net realized gain (loss)		(14,029	)
Paid-in capital		(6,441,966	)

For federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains. Capital loss carryforwards of $1,723,170 remaining at November 30, 2007 will expire in 2015.

For the six months ended May 31, 2008, the Fund had capital losses of 8,105,251 which may be added to 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, 2008 and the period ended November 30, 2007.

For the six months ended May 31, 2008 and the period ended November 30, 2007, the Fund issued 0 and 12,924, 200 common shares, respectively.

7. Foreign Currency Exchange Contracts
The Fund may enter into foreign currency exchange contracts and foreign cross 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.

The use of foreign currency exchange contracts and foreign cross 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.

(continues) 21

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

8. Futures Contracts
The Fund may invest in financial futures contracts to hedge its existing portfolio securities against fluctuations in fair value caused by changes in prevailing market interest rates. Upon entering into a 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 futures contracts include potential imperfect correlation between the futures contracts and the underlying securities and the possibility of an illiquid secondary market for these instruments.

Lastly, it should be noted that the Fund has filed with the National Futures Association a notice claiming an exclusion from the definition of the term “commodity pool operator” (“CPO”) under the Commodity Exchange Act, as amended, and the rules of the Commodity Futures Trading Commission promulgated thereunder, with respect to the Fund’s operation. Accordingly, the Fund is not subject to registration or regulation as a CPO.

9. Options Written
During the six months ended May 31, 2008, 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 options written during the six months ended May 31, 2008 for the Fund were as follows:

	Number of contracts			Premiums
Options outstanding at
November 30, 2007		100		$	34,699
Options written		2,868			892,835
Option exercised		(643	)		(346,060	)
Options expired		(1,655	)		(366,391	)
Options terminated in closing
purchase transactions		(570	)		(133,285	)
Options outstanding at May 31, 2008		100		$	81,798

10. Swap Contracts
The Fund may enter into interest rate swap contracts, index swap contracts and CDS contracts in accordance with 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.

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.

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.

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, 2008, the Fund entered into CDS contracts as a purchaser or seller of protection. Periodic payments (receipts) on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment (receipt), 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.

10. Swap Contracts (continued)
CDS may involve greater risks than if the Fund had invested in the referenced obligation directly. CDSs are subject to general market risk, liquidity risk, counterparty risk and credit risk. If the Fund enters into a CDS contract as a purchaser of protection and no credit event occurs, its exposure is limited to the periodic payments previously made to the counterparty.

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.

11. 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 The Bank of New York Mellon (BNY Mellon). With respect to each loan, if the aggregate market value of the collateral held 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 invested in a Collective Trust established by BNY Mellon for the purpose of investment on behalf of clients participating in its securities lending programs. The Collective Trust invests 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 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 securities lending income net of allocations to the security lending agent and the borrower.

At May 31, 2008, the market value of the securities on loan was $29,304,889, for which the Fund received collateral, comprised of non-cash collateral valued at $1,220,506, and cash collateral of $29,433,089. Investments purchased with cash collateral are presented on the statement of net assets under the caption “Securities Lending Collateral.”

12. Credit and Market Risk
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 equity securities listed on the major securities exchanges in emerging markets is 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 may be 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 and 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 effect 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.

(continues) 23

Notes to financial statements

Delaware Enhanced Global Dividend and Income Fund

12. Credit and Market Risk (continued)
The Fund invests in REITs and is subject to some of 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 six months ended May 31, 2008. The Fund’s REITs 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. 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 DMC 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.

13. 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.

14. Line of Credit
On July 2, 2008 the Fund entered into a Credit Agreement with BNY Mellon for $50,000,000 that expires on July 1, 2009. The Credit Agreement, which was approved by the Fund’s Board on May 22, 2008, permits the Fund to borrow at: (1) certain London Interbank Offered Rates plus 0.70%; or (2) the greater of (a) certain Fed Fund Rates plus 0.50% or (b) BNY Mellon’s prime commercial lending rate as publicly announced from time to time. A commitment fee is computed at the rate of 0.10% per annum on the unused balance. The Fund anticipates that it will begin borrowing under the Credit Agreement on or about July 22, 2008. The loan will be collateralized by the Fund’s portfolio.

15. Additional Co-Portfolio Managers Named
Effective July 11, 2008, Edward A. “Ned” Gray, CFA and Todd A. Bassion, CFA have been named as additional co-managers of the Fund.

Mr. Gray is a senior vice president and senior portfolio manager. He joined Delaware Investments in June 2005 to develop the firm’s International Value Equity team, from Arborway Capital, which he co-founded in January 2005. He previously worked in the investment management business at Thomas Weisel Asset Management (“TWAM”), and ValueQuest, which was acquired by TWAM in 2002. At ValueQuest, which he joined in 1987, Gray served as a senior investment professional with responsibilities for portfolio management, security analysis, quantitative research, performance analysis, global research, back office/investment information systems integration, trading, and client and consultant relations. Prior to ValueQuest, he was a research analyst at the Center for Competitive Analysis. Gray received his bachelor’s degree in history from Reed College and a master of arts in law and diplomacy, in international economics, business and law from Tufts University’s Fletcher School of Law and Diplomacy.

Mr. Bassion is a vice president and portfolio manager. He joined Delaware Investments in June 2005 as a senior analyst on the firm’s International Value Equity team. He takes a lead role in generating and researching new companies for the portfolios as well as providing input on ongoing portfolio management. Bassion previously worked at Arborway Capital, where he was a key part of the team that started at ValueQuest/TA and moved to Thomas Weisel Asset Management with its acquisition of ValueQuest/TA in 2002. Bassion, who joined ValueQuest/TA in 2000, served as a research associate there. Bassion earned a bachelor’s degree in economics from Colorado College.

Mr. Gray and Mr. Bassion will serve as co-managers for the Fund with Babak Zenouzi, Damon J. Andres, Liu-Er Chen, Thomas H. Chow, D. Tysen Nutt Jr., Roger A. Early, Kevin P. Loome and Philip R. Perkins.

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 investment company 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. Yeomans^†Vice President and Treasurer
3M Corporation
St. Paul, MN

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

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 Shareowner 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

Delaware Investments is the marketing
name of Delaware Management Holdings,
Inc. and its subsidiaries.

Your reinvestment options
Delaware Enhanced Global Dividend and Income Fund offers an automatic dividend reinvestment program. If you do not want to reinvest dividends, and shares are registered in your name, contact BNY Mellon Shareowner Services at 800 851-9677. You will be asked to put your request to receive your dividends by check in writing. If you have shares registered in “street” name, contact the broker/dealer holding the shares or your financial advisor.

^†Audit committee member

(3250)	Printed in the USA
SA-DEX [5/08] DG3 7/08	MF-08-06-035 PO165099

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 28, 2008

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 28, 2008


RICHARD SALUS
By:	Richard Salus
Title:	Chief Financial Officer
Date:	July 28, 2008