RODNEY SQUARE STRATEGIC FIXED INCOME FUND, 497, 1997-12-04

RODNEY SQUARE STRATEGIC FIXED INCOME FUND
497, 1997-12-04

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                        THE RODNEY SQUARE
                   STRATEGIC FIXED INCOME FUND
                                
                Supplement dated December 1, 1997
                    to the Fund's Prospectus
                       dated March 1, 1997
                                
      Effective  January  26, 1998, The Rodney  Square  Strategic
Fixed-Income Fund (the "Fund") will:

1.    eliminate sales charges on all purchases of shares  of  the
  Diversified Income Portfolio and the Municipal Income Portfolio
  (the "Portfolios");
2.    terminate the Portfolios' Rule 12b-1 Plans and payments  by
  the Portfolios of Rule 12b-1 fees; and
3.    for  Diversified  Income Portfolio, a  change  of  name  to
  "Short/Intermediate  Bond  Portfolio"  to  better  reflect  the
  policies and holdings of the Portfolio