Transcript CHARTWELL INVESTMENT PARTNERS “Four Minute” Investment Commentary Richard Behler, Ph.D. Monday, November 12, 2007 CHARTWELL INVESTMENT PARTNERS Chartwell Portfolio Premium Yield Equity 1.

CHARTWELL INVESTMENT PARTNERS
“Four Minute” Investment Commentary
Richard Behler, Ph.D.
Monday, November 12, 2007
CHARTWELL INVESTMENT PARTNERS
Chartwell Portfolio
Premium Yield Equity
1. Multi-Cap Value Equity – Total Return.
2. 54 common stocks with P/E of 13.2x.
3. Current dividend yield of 5.1% (11/12/07).
4. Diversified by market cap & economic
sector.
5. Turnover of 37% during last 12 months.
Data as of September 30, 2007.
Dividend Payers: 2nd Half Slump
• DJ Select Dividend
Index Fund (DVY)
declined about 3% in
the 3rd qtr of 2007.
• DVY is down about
5% so far in 4th qtr of
2007.
• Chartwell PYE
outperformed DVY by
wide margin in Q3, and
is trailing slightly in Q4.
Data as of November 10, 2007.
DJ Select Dividend Index Fund
• Graph in upper panel
shows the index relative
to the S&P 500.
• The current relative
decline 2007 is the most
significant since the
tech bubble in 19982000.
•Since 1992, relative
performance has been
in a clearly defined uptrend.
Data as of November 10, 2007.
(DVY)
Investment Strategy
1. Too-late to sell large-cap financials.
2. Entering a period in which diversifying away
from leading sectors makes sense.
3. Tax strategy could involve swapping within the
high yielding financials. We continue to own
Citigroup, Bank of America, Wachovia & US
Bancorp.
4. We have confidence that low interest rates & a
strong demand for yield will lead to a rebound
in our high income portfolio.
DISCLAIMER
The information in this presentation is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any interest
in any securities or investment services. This information is being provided in confidence for informational purposes only and is not for public
distribution. This information in this presentation may not be reproduced or further disseminated without the express written consent of
Chartwell Investment Partners. The performance data quoted represents past performance and does not guarantee future results. This presentation
has been prepared without taking into account any potential investors’ financial situation, objectives or needs, and should not be relied upon in
evaluating the advisability of investing in the portfolio. All opinions and views constitute judgments of Chartwell Investment Partners as of the
date indicated and are subject to change without notice. Chartwell Investment Partners believes the information provided in this presentation is
reliable as of the date of this presentation but to the extent permitted by law, Chartwell Investment Partners does not warrant its accuracy or
completeness and accepts no liability for errors or misstatements, negligent or otherwise, or for any loss or damage suffered by any person in
relation to the information in this presentation.
CHARTWELL INVESTMENT PARTNERS