- Madison Covered Call and Equity Strategy Fund (MCN)
Fund Objective
MCN has a primary objective of obtaining a high level of current income and gains, with a secondary objective of achieving long-term capital appreciation.
Investment Strategies
We believe these goals can be met by investing in large and mid-capitalizations stocks that are, in our opinion, selling at a reasonable price with respect to their long-term earnings growth rates. The income comes in the form option premiums which are generated by writing covered calls on a majority of stocks in the portfolio.
Quarterly Fund Fact Sheet
Disclosure Documents
Distributions
Communications
Portfolio Management
Ray Di Bernardo, CFA
Ray Di Bernardo, CFAPortfolio Manager
Ray is the lead portfolio manager for Madison's Covered Call portfolios and has more than 25 years of equity management experience. Prior to joining Madison in 2003 he was an equity analyst at Concord Trust in Chicago, and before that, an equity analyst and co-manager of international and emerging market portfolios at a Toronto-based international equity firm. Ray holds a BA from the University of Western Ontario.
Ray is the lead portfolio manager for Madison's Covered Call portfolios and has more than 25 years of equity management experience. Prior to joining Madison in 2003 he was an equity analyst at Concord Trust in Chicago, and before that, an equity analyst and co-manager of international and emerging market portfolios at a Toronto-based international equity firm. Ray holds a BA from the University of Western Ontario.
Drew Justman, CFA
Drew Justman, CFAPortfolio Manager
Drew serves as a portfolio manager on Madison’s Value Team. Prior to joining Madison, he worked with Merrill Lynch. Drew holds a BBA in Finance and Economics and an MS in Finance from the University of Wisconsin. He also graduated from the Applied Security Analysis Program.
Drew serves as a portfolio manager on Madison’s Value Team. Prior to joining Madison, he worked with Merrill Lynch. Drew holds a BBA in Finance and Economics and an MS in Finance from the University of Wisconsin. He also graduated from the Applied Security Analysis Program.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of September 30, 2021) | |
| COMCAST CORP CLASS A | 3.6% |
| CVS HEALTH CORP | 3.4% |
| RANGE RESOURCES CORP | 3.1% |
| FISERV INC | 3.1% |
| BAXTER INTERNATIONAL INC | 3.1% |
| T MOBILE US INC | 3.1% |
| GILEAD SCIENCES INC | 2.8% |
| HONEYWELL INTERNATIONAL INC | 2.8% |
| PAYPAL HOLDINGS INC | 2.7% |
| TJX COMPANIES INC | 2.6% |
| % of Fund in Top Ten Securities | 30.3% |
Key Highlights
|
(as of Monday October 18, 2021) |
|
| NAV |
7.67 |
| Market Price | 8.06 |
| Inception Date |
7/27/2004 |
| NYSE Symbol | MCN |
|
NAV Symbol |
XMCNX |
| Distribution Frequency |
Quarterly |
| Expense Ratio |
1.06 |
Sector Concentration
Allocation as a % of Total Net Assets
| (as of March 31, 2017) | |
| Information Technology | 19.4% |
| Short-Term Investments, Options, and Other Net Assets & Liabilities | 16.5% |
| Health Care | 13.5% |
| Consumer Discretionary | 8.6% |
| ETFs | 7.2% |
| Financials | 6.6% |
| Industrials | 5.6% |
| Real Estate | 5.3% |
| Energy | 5.0% |
| Consumer Staples | 5.0% |
| Materials | 3.2% |
| Utilities | 2.6% |
Closed-end funds are listed on the New York Stock Exchange and nothing on this website is intended to be a solicitation to buy or an offer to sell such securities.
Contact Us
Investment Management:
800.767.0300
