• High Income Fund

Fund Objective

The High Income Fund seeks high current income. The fund also seeks capital appreciation, but only when consistent with its primary goal.

Investment†Strategies

The High Income Fund invests primarily in better quality, B-rated bonds that offer opportunity for capital appreciation. Using a cautious, conservative style that avoids deeply discounted issues, the goal is to outperform the high yield market with less volatility.

Key Highlights

(as of Thursday October 19, 2017)
Class A Class B Class Y
Daily Price 6.22 6.39 6.11
Ticker Symbol MHNAX MHNBX MHNYX
Inception Date 12/29/97 12/29/97
Expense Ratio 1.01 1.76 0.76


Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information

Portfolio Management


Allen Olson, CFA

Mike Sanders, CFA
ghlights

Portfolio Highlights

Top Ten Fund Holdings
(as of September 30, 2017)
DONNELLEY FINANCIAL SOL
(8.25% 15 Oct 2024)
2.2%
RAYONIER AM PROD INC
(5.5% 01 Jun 2024)
2.2%
UNIT CORP
(6.625% 15 May 2021)
2.2%
OUTFRONT MEDIA CAP LLC/C
(5.625% 15 Feb 2024)
2.2%
SCIENTIFIC GAMES INTERNA
(6.25% 01 Sep 2020)
2.1%
MURPHY OIL USA INC
(5.625% 01 May 2027)
1.8%
DIEBOLD NIXDORF INC
(8.5% 15 Apr 2024)
1.8%
JACK OHIO FIN LLC/FIN 1
(6.75% 15 Nov 2021)
1.8%
AES CORP/VA
(5.5% 15 Mar 2024)
1.7%
ALLIANCE DATA SYSTEMS CO
(6.375% 01 Apr 2020)
1.7%
% of Fund in Top Ten Securities19.8%
Net Assets (as of 9/30/17) $23.6 Million
Turnover (as of 10/31/16) 73%

Complete Holdings List