Delafield Hambrecht

Micro-Cap Value Fund

Fund Investment Objectives

The Fund is process driven and value focused. Proprietary quantitative screens sift large amounts of data to place potential portfolio candidates on a value by fundamental ranking grid. Qualified candidates are subjected to qualitative, bottoms-up analysis to determine the sustainability of each company's valuation and growth characteristics. In this exercise, the Partnership's mindset is similar to that of a financial sponsor or entrepreneur conducting due diligence on a potential acquisition.