Funds Spotlight – Delafield Fund (DEFIX)
We have made some exciting changes to the Fidelity Independent Adviser. In our newest issues, readers will find two brand new portfolios and the addition of hundreds of new mutual funds. In an effort to ensure investors have as much insight into these new products as possible, we have spent the last few weeks highlighting newcomers in the FIA hotline. Last week, we looked at the Tocqueville Gold Fund (TGLDX). This time, we turn our attention to the Delafield Fund (DEFIX).
According to its website, Delafield Fund is designed to achieve long term capital appreciation and capital growth. The fund’s managers seek to achieve this mandate by focusing on undervalued companies and firms going through special situations such as M&A activity or a management shift. In addition, Delafield Fund may also seek out attractive debt securities or preferred shares.
Morningstar gives DEFIX three stars and places the fund in the Mid-cap value section of its style box.
Delafield Fund is currently listed in our Fidelity Independent Adviser’s Power Index as a “Buy” fund with a Power Index number of 77. If you would like more information on this unique proprietary rating system we employ in our newsletter, please call us at (800) 548-3797 and an adviser would be happy to speak with you.
Historical Performance (as of 8/8/12)
|
YTD |
1 year |
3 years* |
5 years* |
|
| DEFIX |
9.84 |
24.61 |
13.67 |
3.54 |
| +/- S&P 500 TR |
-3.09 |
-3.48 |
-0.12 |
2.65 |
| +/- Category (MV) |
0.29 |
1.32 |
1.19 |
2.80 |
*3 and 5 Year Returns are annualized. Past performance is no assurance of future results.
Top 10 Holdings (as of 06/30/12)
Represents 23.78% of total portfolio; 69 holdings total
| Eastman Chemical Company |
| Tyco International Ltd. |
| Owens-Illinois Inc. |
| Carlisle Companies Inc. |
| Ashland Inc. |
| Dover Corp. |
| Honeywell International Inc. |
| Kennametal Inc. |
| Stanley Black & Decker Inc. |
| Ingersoll-Rand PLC |
Operations and Expenses
Delafield Fund has an annual holdings turnover of 38.0%. It has no load and an expense ratio of 1.23%. The minimum initial investment for this fund is $1,000.
Management
Delafield Fund is managed by the team of Vincent Sellecchia and J. Dennis Delafield. Sellecchia received a BA from Boston College and an MBA from New York University. Delafield earned a BA from Princeton University.
Fidelity Independent Adviser’s Power Rankings
Power Index: 77
Power Trend: Negative
Recommendation: Buy
(Sources: Morningstar, tocqueville.com)
