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Madison Funds - Madison Diversified Income Fund USD Cls A
mutual fund
MBLAX
Payout Change
Pending
Price as of:
$13.16
-0.03
-0.23%
primary theme
U.S. Balanced Allocation
MBLAX (Mutual Fund)
Madison Funds - Madison Diversified Income Fund USD Cls A
Payout Change
Pending
Price as of:
$13.16
-0.03
-0.23%
primary theme
U.S. Balanced Allocation
MBLAX (Mutual Fund)
Madison Funds - Madison Diversified Income Fund USD Cls A
Payout Change
Pending
Price as of:
$13.16
-0.03
-0.23%
primary theme
U.S. Balanced Allocation
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
$13.16
$179 M
3.12%
$0.41
1.11%
Vitals
YTD Return
7.0%
1 yr return
9.9%
3 Yr Avg Return
1.1%
5 Yr Avg Return
5.0%
Net Assets
$179 M
Holdings in Top 10
23.9%
52 WEEK LOW AND HIGH
$13.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.11%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 34.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
$13.16
$179 M
3.12%
$0.41
1.11%
MBLAX - Profile
Distributions
- YTD Total Return 7.0%
- 3 Yr Annualized Total Return 1.1%
- 5 Yr Annualized Total Return 5.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.27%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMadison Funds - Madison Diversified Income Fund USD Cls A
-
Fund Family NameMadison Funds
-
Inception DateFeb 07, 2013
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJohn Brown
Fund Description
The Fund seeks income by investing in a broadly diversified array of securities, including bonds, common stocks, real estate securities, foreign market bonds and stocks, and money market instruments. Bonds, stock and cash components will vary, reflecting the portfolio managers’
judgments of the relative availability of attractively yielding and priced stocks and bonds; however, under normal market conditions, the Fund’s portfolio managers generally attempt to target a 40% bond and 60% stock investment allocation. Nevertheless, bonds (including investment grade, non-investment grade securities (i.e., “junk” bonds), and mortgage- or asset-backed) may constitute up to 80% of the Fund’s assets, stocks (including common stocks, preferred stocks and convertible bonds) may constitute up to 70% of the Fund’s assets, real estate securities may constitute up to 25% of the Fund’s assets, foreign (including American Depositary Receipts ("ADRs") and emerging market) stocks and bonds may constitute up to 25% of the Fund’s assets, and money market instruments may constitute up to 25% of the Fund’s assets. Although the Fund is permitted to invest up to 80% of its assets in lower credit quality bonds, under normal circumstances, the Fund intends to limit the investment in lower credit quality bonds to less than 50% of the Fund’s assets.
With regard to the fixed income component of the Fund, while there is no maturity strategy utilized, the Fund is managed with the goal of being between 90-110% of the market benchmark duration. The weighted average life of the Fund’s bond portfolio as of December 31, 2022 was 8.59 years. Duration is an approximation of the expected change in a debt security’s price given a 1% move in interest rates, using the following formula:
[change in debt security value = (change in interest rates) x (duration) x (-1)]. By way of example, assume XYZ company issues a five year bond which has a duration of 4.5 years. If interest rates were to instantly increase by 1%, the bond would be expected to decrease in value by approximately 4.5%. As of December 31, 2022, the duration of the Fund’s bond portfolio was 6.19 years, and the duration of the benchmark index (which, for this purpose, is the ICE BofA U.S. Corporate, Government & Mortgage Index), was 6.28 years.
The balance between the two strategies of the Fund -- i.e., fixed income investing and equity investing -- is determined after reviewing the risks associated with each type of investment, with the goal of meaningful risk reduction as market conditions demand. The Fund may also invest in exchange traded funds (“ETFs”) that are registered investment companies and may also write (sell) covered call options, when deemed appropriate by the portfolio managers, in order to generate additional income through the collection of option premiums. With regard to the equity portion of the Fund, the Fund generally holds 30-60 individual securities in its portfolio at any given time. This reflects the belief of the Fund's investment adviser, Madison Asset Management, LLC ("Madison"), that your money should be invested in Madison's top investment ideas, and that focusing on Madison's best investment ideas is the best way to achieve the Fund’s investment objective.
The Fund typically sells a stock when the fundamental expectations for producing competitive yields at an acceptable level of price risk no longer apply, the price exceeds its intrinsic value or other stocks appear more attractive.
The Fund’s investment strategy reflects Madison's general “Participate and Protect®” investment philosophy. Madison’s expectation is that investors in the Fund will participate in market appreciation during bull markets and experience something less than full participation during bear markets compared with investors in portfolios holding more speculative and volatile securities; therefore, this investment philosophy is intended to represent a conservative investment strategy. There is no assurance that Madison’s expectations regarding this investment strategy will be realized.
Although the Fund expects to pursue its investment objective utilizing its principal investment strategies regardless of market conditions, the Fund may invest up to 100% in money market instruments. To the extent the Fund engages in this temporary defensive position, the Fund’s ability to achieve its investment objective may be diminished.
MBLAX - Performance
Return Ranking - Trailing
| Period | MBLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.0% | -2.2% | 85.5% | 96.77% |
| 1 Yr | 9.9% | -0.9% | 87.3% | 97.07% |
| 3 Yr | 1.1%* | -3.9% | 24.1% | 93.55% |
| 5 Yr | 5.0%* | -2.5% | 23.9% | 90.95% |
| 10 Yr | 6.2%* | 1.2% | 14.4% | 63.91% |
* Annualized
Return Ranking - Calendar
| Period | MBLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -10.5% | -12.2% | 23.9% | 99.85% |
| 2022 | -14.8% | -34.7% | 2.8% | 18.26% |
| 2021 | 1.9% | -11.9% | 18.1% | 72.84% |
| 2020 | 4.5% | -20.9% | 39.7% | 76.25% |
| 2019 | 11.7% | 0.8% | 25.7% | 73.88% |
Total Return Ranking - Trailing
| Period | MBLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.0% | -2.2% | 85.5% | 96.77% |
| 1 Yr | 9.9% | -0.9% | 87.3% | 97.07% |
| 3 Yr | 1.1%* | -3.9% | 24.1% | 93.55% |
| 5 Yr | 5.0%* | -2.5% | 23.9% | 90.95% |
| 10 Yr | 6.2%* | 1.2% | 14.4% | 63.91% |
* Annualized
Total Return Ranking - Calendar
| Period | MBLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.3% | -12.2% | 26.8% | 97.05% |
| 2022 | -7.9% | -29.0% | 10.9% | 8.38% |
| 2021 | 14.4% | -3.0% | 27.3% | 34.72% |
| 2020 | 7.6% | -19.5% | 40.6% | 82.07% |
| 2019 | 19.3% | 2.2% | 32.7% | 56.07% |
NAV & Total Return History
MBLAX - Holdings
Concentration Analysis
| MBLAX | Category Low | Category High | MBLAX % Rank | |
|---|---|---|---|---|
| Net Assets | 179 M | 861 K | 235 B | 77.92% |
| Number of Holdings | 320 | 2 | 16143 | 30.63% |
| Net Assets in Top 10 | 38.6 M | 859 K | 66.9 B | 84.83% |
| Weighting of Top 10 | 23.92% | 10.8% | 122.7% | 84.09% |
Top 10 Holdings
- Bristol-Myers Squibb Co 2.94%
- Johnson & Johnson 2.90%
- Caterpillar Inc 2.77%
- Pfizer Inc 2.71%
- Fastenal Co 2.68%
- The Travelers Companies Inc 2.61%
- Dominion Energy Inc 2.58%
- BlackRock Inc 2.39%
- Comcast Corp Class A 2.36%
- McDonald's Corp 2.34%
Asset Allocation
| Weighting | Return Low | Return High | MBLAX % Rank | |
|---|---|---|---|---|
| Stocks | 68.33% | 0.00% | 100.10% | 51.55% |
| Bonds | 29.68% | 0.00% | 75.29% | 35.79% |
| Cash | 1.93% | -7.92% | 100.00% | 44.33% |
| Convertible Bonds | 0.06% | 0.00% | 23.84% | 86.80% |
| Preferred Stocks | 0.00% | 0.00% | 24.59% | 35.05% |
| Other | 0.00% | -42.55% | 113.97% | 51.25% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MBLAX % Rank | |
|---|---|---|---|---|
| Healthcare | 19.67% | 0.00% | 29.35% | 5.36% |
| Financial Services | 17.21% | 0.00% | 38.77% | 15.33% |
| Industrials | 12.93% | 0.00% | 24.37% | 13.10% |
| Consumer Defense | 9.96% | 0.00% | 15.14% | 12.80% |
| Energy | 9.18% | 0.00% | 85.65% | 8.48% |
| Consumer Cyclical | 7.93% | 0.00% | 19.36% | 74.40% |
| Technology | 6.67% | 0.00% | 44.21% | 94.49% |
| Communication Services | 6.66% | 0.00% | 38.10% | 60.57% |
| Utilities | 3.77% | 0.00% | 99.55% | 26.49% |
| Basic Materials | 3.58% | 0.00% | 25.57% | 64.88% |
| Real Estate | 2.43% | 0.00% | 65.01% | 70.09% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MBLAX % Rank | |
|---|---|---|---|---|
| US | 68.33% | 0.00% | 100.10% | 48.60% |
| Non US | 0.00% | 0.00% | 42.80% | 37.41% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MBLAX % Rank | |
|---|---|---|---|---|
| Government | 36.34% | 0.00% | 97.26% | 31.16% |
| Corporate | 30.95% | 0.00% | 98.21% | 49.26% |
| Securitized | 25.56% | 0.00% | 92.13% | 27.30% |
| Cash & Equivalents | 6.09% | 0.00% | 99.92% | 16.64% |
| Municipal | 1.07% | 0.00% | 24.80% | 16.32% |
| Derivative | 0.00% | -4.58% | 41.29% | 34.61% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MBLAX % Rank | |
|---|---|---|---|---|
| US | 29.02% | 0.00% | 75.29% | 35.64% |
| Non US | 0.66% | 0.00% | 15.37% | 5.89% |
MBLAX - Expenses
Operational Fees
| MBLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.11% | 0.03% | 27.98% | 40.70% |
| Management Fee | 0.65% | 0.00% | 1.83% | 79.68% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 24.75% |
| Administrative Fee | 0.20% | 0.01% | 0.83% | 83.24% |
Sales Fees
| MBLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.75% | 2.25% | 5.75% | 6.36% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MBLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MBLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 34.00% | 0.83% | 343.00% | 43.31% |
MBLAX - Distributions
Dividend Yield Analysis
| MBLAX | Category Low | Category High | MBLAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.12% | 0.00% | 17.90% | 0.15% |
Dividend Distribution Analysis
| MBLAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Quarterly | Quarterly |
Net Income Ratio Analysis
| MBLAX | Category Low | Category High | MBLAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.27% | -2.34% | 13.92% | 43.03% |
Capital Gain Distribution Analysis
| MBLAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 27, 2024 | $0.034 | OrdinaryDividend |
| Oct 31, 2024 | $0.027 | OrdinaryDividend |
| Sep 30, 2024 | $0.075 | OrdinaryDividend |
| Aug 30, 2024 | $0.032 | OrdinaryDividend |
| Jul 31, 2024 | $0.024 | OrdinaryDividend |
| Apr 30, 2024 | $0.024 | OrdinaryDividend |
| Mar 28, 2024 | $0.246 | OrdinaryDividend |
| Feb 29, 2024 | $0.030 | OrdinaryDividend |
| Jan 31, 2024 | $0.067 | OrdinaryDividend |
| Dec 21, 2023 | $0.042 | OrdinaryDividend |
| Dec 21, 2023 | $1.666 | CapitalGainLongTerm |
| Nov 30, 2023 | $0.036 | OrdinaryDividend |
| Oct 31, 2023 | $0.031 | OrdinaryDividend |
| Sep 29, 2023 | $0.020 | OrdinaryDividend |
| Aug 31, 2023 | $0.022 | OrdinaryDividend |
| Jul 31, 2023 | $0.033 | OrdinaryDividend |
| Jun 30, 2023 | $0.025 | OrdinaryDividend |
| May 31, 2023 | $0.032 | OrdinaryDividend |
| Apr 28, 2023 | $0.020 | OrdinaryDividend |
| Mar 31, 2023 | $0.020 | OrdinaryDividend |
| Feb 28, 2023 | $0.018 | OrdinaryDividend |
| Jan 31, 2023 | $0.028 | OrdinaryDividend |
| Dec 22, 2022 | $0.938 | OrdinaryDividend |
| Nov 30, 2022 | $0.019 | OrdinaryDividend |
| Oct 31, 2022 | $0.033 | OrdinaryDividend |
| Sep 30, 2022 | $0.026 | OrdinaryDividend |
| Aug 31, 2022 | $0.018 | OrdinaryDividend |
| Jul 29, 2022 | $0.024 | OrdinaryDividend |
| Jun 30, 2022 | $0.028 | OrdinaryDividend |
| May 31, 2022 | $0.018 | OrdinaryDividend |
| Apr 29, 2022 | $0.020 | OrdinaryDividend |
| Mar 31, 2022 | $0.021 | OrdinaryDividend |
| Feb 28, 2022 | $0.014 | OrdinaryDividend |
| Jan 31, 2022 | $0.021 | OrdinaryDividend |
| Dec 23, 2021 | $1.851 | OrdinaryDividend |
| Nov 30, 2021 | $0.016 | OrdinaryDividend |
| Oct 29, 2021 | $0.018 | OrdinaryDividend |
| Sep 30, 2021 | $0.020 | OrdinaryDividend |
| Aug 31, 2021 | $0.012 | OrdinaryDividend |
| Jul 30, 2021 | $0.025 | OrdinaryDividend |
| Jun 30, 2021 | $0.020 | OrdinaryDividend |
| May 28, 2021 | $0.018 | OrdinaryDividend |
| Apr 30, 2021 | $0.017 | OrdinaryDividend |
| Mar 31, 2021 | $0.024 | OrdinaryDividend |
| Feb 26, 2021 | $0.019 | OrdinaryDividend |
| Jan 29, 2021 | $0.020 | OrdinaryDividend |
| Dec 23, 2020 | $0.226 | OrdinaryDividend |
| Nov 30, 2020 | $0.016 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.024 | OrdinaryDividend |
| Aug 31, 2020 | $0.014 | OrdinaryDividend |
| Jul 31, 2020 | $0.026 | OrdinaryDividend |
| Jun 30, 2020 | $0.025 | OrdinaryDividend |
| May 29, 2020 | $0.015 | OrdinaryDividend |
| Apr 30, 2020 | $0.025 | OrdinaryDividend |
| Mar 31, 2020 | $0.030 | OrdinaryDividend |
| Feb 28, 2020 | $0.018 | OrdinaryDividend |
| Jan 31, 2020 | $0.023 | OrdinaryDividend |
| Dec 23, 2019 | $0.027 | OrdinaryDividend |
| Dec 23, 2019 | $0.798 | CapitalGainLongTerm |
| Nov 27, 2019 | $0.017 | OrdinaryDividend |
| Oct 31, 2019 | $0.022 | OrdinaryDividend |
| Sep 30, 2019 | $0.022 | OrdinaryDividend |
| Aug 30, 2019 | $0.023 | OrdinaryDividend |
| Jul 31, 2019 | $0.026 | OrdinaryDividend |
| Jun 28, 2019 | $0.022 | OrdinaryDividend |
| May 31, 2019 | $0.026 | OrdinaryDividend |
| Apr 30, 2019 | $0.022 | OrdinaryDividend |
| Mar 29, 2019 | $0.029 | OrdinaryDividend |
| Feb 28, 2019 | $0.030 | OrdinaryDividend |
| Jan 31, 2019 | $0.012 | OrdinaryDividend |
| Dec 21, 2018 | $1.240 | CapitalGainLongTerm |
| Dec 21, 2018 | $0.028 | OrdinaryDividend |
| Nov 30, 2018 | $0.032 | OrdinaryDividend |
| Oct 31, 2018 | $0.014 | OrdinaryDividend |
| Sep 28, 2018 | $0.020 | OrdinaryDividend |
| Aug 31, 2018 | $0.039 | OrdinaryDividend |
| Jul 31, 2018 | $0.014 | OrdinaryDividend |
| Jun 29, 2018 | $0.022 | OrdinaryDividend |
| May 31, 2018 | $0.032 | OrdinaryDividend |
| Apr 30, 2018 | $0.020 | OrdinaryDividend |
| Mar 29, 2018 | $0.027 | OrdinaryDividend |
| Feb 28, 2018 | $0.034 | OrdinaryDividend |
| Jan 31, 2018 | $0.013 | OrdinaryDividend |
| Dec 27, 2017 | $0.238 | CapitalGainLongTerm |
| Dec 27, 2017 | $0.024 | OrdinaryDividend |
| Nov 30, 2017 | $0.030 | OrdinaryDividend |
| Oct 31, 2017 | $0.014 | OrdinaryDividend |
| Sep 29, 2017 | $0.014 | OrdinaryDividend |
| Aug 31, 2017 | $0.038 | OrdinaryDividend |
| Jul 31, 2017 | $0.012 | OrdinaryDividend |
| Jun 30, 2017 | $0.015 | OrdinaryDividend |
| May 31, 2017 | $0.032 | OrdinaryDividend |
| Apr 28, 2017 | $0.019 | OrdinaryDividend |
| Mar 31, 2017 | $0.018 | OrdinaryDividend |
| Feb 28, 2017 | $0.035 | OrdinaryDividend |
| Jan 31, 2017 | $0.018 | OrdinaryDividend |
| Dec 27, 2016 | $0.051 | CapitalGainShortTerm |
| Dec 27, 2016 | $0.485 | CapitalGainLongTerm |
| Dec 27, 2016 | $0.018 | OrdinaryDividend |
| Nov 30, 2016 | $0.031 | OrdinaryDividend |
| Oct 31, 2016 | $0.014 | OrdinaryDividend |
| Sep 30, 2016 | $0.019 | OrdinaryDividend |
| Aug 31, 2016 | $0.030 | OrdinaryDividend |
| Jul 29, 2016 | $0.012 | OrdinaryDividend |
| Jun 30, 2016 | $0.021 | OrdinaryDividend |
| May 31, 2016 | $0.031 | OrdinaryDividend |
| Apr 29, 2016 | $0.019 | OrdinaryDividend |
| Mar 31, 2016 | $0.017 | OrdinaryDividend |
| Feb 29, 2016 | $0.035 | OrdinaryDividend |
| Jan 29, 2016 | $0.011 | OrdinaryDividend |
| Dec 28, 2015 | $0.338 | CapitalGainLongTerm |
| Dec 28, 2015 | $0.020 | OrdinaryDividend |
| Nov 30, 2015 | $0.032 | OrdinaryDividend |
| Oct 30, 2015 | $0.015 | OrdinaryDividend |
| Sep 30, 2015 | $0.020 | OrdinaryDividend |
| Aug 31, 2015 | $0.028 | OrdinaryDividend |
| Jul 31, 2015 | $0.011 | OrdinaryDividend |
| Jun 30, 2015 | $0.020 | OrdinaryDividend |
| May 29, 2015 | $0.029 | OrdinaryDividend |
| Apr 30, 2015 | $0.017 | OrdinaryDividend |
| Mar 31, 2015 | $0.020 | OrdinaryDividend |
| Feb 27, 2015 | $0.031 | OrdinaryDividend |
| Jan 30, 2015 | $0.006 | OrdinaryDividend |
| Dec 29, 2014 | $0.023 | OrdinaryDividend |
| Nov 26, 2014 | $0.023 | OrdinaryDividend |
| Oct 31, 2014 | $0.012 | OrdinaryDividend |
| Sep 30, 2014 | $0.020 | OrdinaryDividend |
| Aug 29, 2014 | $0.024 | OrdinaryDividend |
| Jul 31, 2014 | $0.011 | OrdinaryDividend |
| Jun 30, 2014 | $0.020 | OrdinaryDividend |
| May 30, 2014 | $0.029 | OrdinaryDividend |
| Apr 30, 2014 | $0.014 | OrdinaryDividend |
| Mar 31, 2014 | $0.019 | OrdinaryDividend |
| Feb 28, 2014 | $0.034 | OrdinaryDividend |
| Jan 31, 2014 | $0.008 | OrdinaryDividend |
| Dec 26, 2013 | $0.021 | OrdinaryDividend |
| Nov 27, 2013 | $0.023 | OrdinaryDividend |
| Oct 31, 2013 | $0.012 | OrdinaryDividend |
| Sep 30, 2013 | $0.018 | OrdinaryDividend |
| Aug 30, 2013 | $0.028 | OrdinaryDividend |
| Jul 31, 2013 | $0.010 | OrdinaryDividend |
| Jun 28, 2013 | $0.018 | OrdinaryDividend |
| May 31, 2013 | $0.028 | OrdinaryDividend |
| Apr 30, 2013 | $0.012 | OrdinaryDividend |
| Mar 28, 2013 | $0.018 | OrdinaryDividend |
| Feb 28, 2013 | $0.032 | OrdinaryDividend |
MBLAX - Fund Manager Analysis
Managers
John Brown
Start Date
Tenure
Tenure Rank
Jan 01, 1998
24.43
24.4%
John, CFA, serves as a portfolio manager on Madison's dividend income and value strategies. John has been working in the financial services industry since 1983 and joined Madison in 2009. He earned his B.S. in finance and computer science from Northern Illinois University and his MBA from the University of Wisconsin-Madison.
Chris Nisbet
Start Date
Tenure
Tenure Rank
Jun 30, 2013
8.92
8.9%
Chris serves as a portfolio manager for Madison’s Fixed Income Team, specializing in government and corporate bond portfolios. Chris has been working in the financial services industry since 1990 and joined Madison in 1992. He earned his B.S. in economics and M.S. in finance and investments from the University of Wisconsin-Madison.
Andrew Justman
Start Date
Tenure
Tenure Rank
Feb 28, 2015
7.26
7.3%
Mr. Justman, Vice President and Portfolio Manager of Madison, has co-managed the equity portion of the Fund since May 2015. Andrew has been working in the financial services industry since 2001 and joined Madison in 2005. He earned his BBA in finance and economics and M.S. in finance from the University of Wisconsin-Madison, specializing in the Applied Security Analysis Program. Prior to joining Madison he worked at Merrill Lynch.
Allen Olson
Start Date
Tenure
Tenure Rank
Feb 28, 2021
1.25
1.3%
Allen serves as a portfolio manager and analyst for Madison’s Fixed Income Team, specializing in corporate-only and credit research. Allen has been working in the financial services industry since 1998 and joined Madison in 2002. He earned his B.S. in economics from the University of Wisconsin-Green Bay and M.S. in management from the University of Wisconsin-Milwaukee.
Michael Sanders
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Mike Sanders, CFA, serves as a portfolio manager for Madison’s Fixed Income Team, specializing in credit research. Sanders has been working in the financial services industry since 2004 and joined Madison in 2013. He earned his BBA in finance from St. Norbert College, M.S. in economics from Marquette University and a MBA in analytical finance and accounting from the University Of Chicago Booth School Of Business.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.39 | 2.41 |
