"We invest in companies, large and small, with little premium in their price for investor expectation. We try to anticipate why perceptions might change for the better in the future. While there is no guarantee that our investments will appreciate in value, we normally hold our investments until they appreciate to a point where we judge there is an unacceptable degree of market risk or until something happens to change our view that the company is an attractive investment."

If you are an investor who recognizes the difficulties inherent in today's uncertain financial markets, we believe you will appreciate the discipline and consistency characteristic of the fund - and the potential for long-term capital growth that this approach brings to your portfolio.

Experienced investors know that throughout this century the stock market has proven to be one of the best investment vehicles for protecting capital from the ravages of inflation, building wealth and achieving long-range financial goals. Other types of investments may offer guarantee of principal, tax advantages, greater certainty of a fixed rate of return, or a lower level of overall risk. Bonds that are held to maturity offer an investor a fixed principal value and investment return. CDs may be insured by the FDIC and offer a fixed rate of return. However, stocks, despite a greater propensity to fluctuate in value over the short run, over the past 75 years have produced better returns over the longer-term time horizon than bonds, CDs, commercial paper, or any fixed or variable rate instruments. Past performance is no guarantee of future results.

In recent years, mutual funds have become increasingly popular as an efficient, affordable and diversified way to capitalize on the stock market's potential. Few individual investors have the time, training or resources essential to continually evaluate all pertinent investment considerations. Mutual funds provide access to professional investment management expertise and may afford a sufficient level of diversification to temper the stock market's intrinsic risk.

Strategy

We believe the fund is unique in its approach. It seeks to preserve and enhance capital by attempting to limit market risk through careful stock selection, buying only at measured prices and concentrating on uncovering special situations and depressed investments.

In the long run, management believes that inflation will remain a threat to the preservation of real capital. In rising markets, when it is harder to uncover true undervalued investment opportunities, the fund will tend to maintain larger reserves. It has been the managers' experience that good performance comes with careful stock selection and not, predominantly, from being fully invested at all times. Conversely, at periods when the market has declined and enthusiasm is muted, the fund will tend to become more fully invested.

Over the years, management has found that special situations arise in the bond market as well as in the stock market. When we believe reserves are ample, selected ordinary and convertible bonds may be purchased to attempt to enhance yield and for potential appreciation.

Accordingly, the fund is managed with a view toward maximizing capital growth while seeking long-term preservation of capital, thereby providing an investment vehicle which we hope satisfies an investor's overall requirements.

The Delafield Fund may invest in the stocks of smaller companies which carry special risks including, narrower markets, limited financial and management resources, less liquidity, and greater volatility than the stocks of larger companies. The fund's investments, which are often value or special situations, are likely to not correlate with the overall market averages. Hence, there may be periods when the fund's performance may lag behind these measures.

Delafield Fund, Inc. is distributed by Natixis Distributors, L.P. (member FINRA),
399 Boylston Street, Boston, MA 02116

If you are a shareholder and want to learn more about the investment approach of the Delafield Fund, please contact your financial advisor or the Delafield Fund's Transfer Agent at 800-221-3079. If you are a financial advisor or a registered investment advisor, please contact Natixis Global Associates at 800-862-4863 and ask for a free prospectus, which contains more information including charges and other ongoing expenses. Investors should consider a fund’s objective, risks, and expenses carefully before investing.

Investment Products Offered:
Are Not FDIC Insured | May Lose Value | Are Not Bank Guaranteed

Delafield Fund, Inc. and other Reich & Tang funds may be offered only to persons in the United States and by way of a prospectus. This website should not be considered a solicitation or offering of any investment products or services to investors residing outside of the United States.