Firm Profile

Delta Asset Management was founded in late 1989 by Myron Mall and Alex Conaway. Previously the founders of the firm had led a successful bank owned investment management firm. Delta is a registered investment advisor that focuses on discretionary management of common stock and fixed income portfolios for corporations, individuals, retirement plans, pensions, and foundations.

Our clients' portfolios range from all equity to all fixed income with a substantial portion being balanced with varying objectives. Moreover, the accounts are reasonably divided between taxable and tax-exempt.

Delta's investment philosophy is based upon:

• Contrarian and Opportunistic. We ascribe to a contrarian, value approach and seek to provide competitive long term performance, taking advantage of opportunities when they arise, while minimizing the risk taken for a portfolio. This approach has been successful over the years not only in increasing markets but also, and perhaps more importantly, in stagnant and/or receding markets.

• Low Turnover. Our value approach allows for transaction cost and tax savings through a buy and hold strategy. We buy undervalued assets and sell or trim positions when prices exceed our targeted value. Our annual turnover rate, on average, for the past 7 years has been approximately 17.5%. Investment positions are established in good quality, mature companies that are broadly diversified across several economic and industry sectors.

• Experienced Personnel. Delta's principals have been investing together for close to 20 years and have cumulative investing experience of close to 80 years.

• Consistency over Time. We strive for consistency in approach and content over time. Our focus is on client relationships and our commitment is to provide a sound, responsive, professional investment management service in a cost effective manner.

• Client Focused and Personal Service. We focus on the net returns to our clients. For taxable accounts, we seek to maximize after-tax returns, rather than pre-tax returns, which sometimes negatively affects annual reported results but is beneficial over the long-term to our clients' individual finances. For tax-exempt accounts, we seek to generate maximum returns by taking advantage of the increased tax flexibility these accounts afford.