- Small Cap Fund
Fund Objective
The Small Cap Fund seeks long-term capital appreciation.
Investment Strategies
Madison focuses on core growth strategies through bottom-up fundamental research analysis to identify stocks of businesses that are selling at what it believes are substantial discounts to prices that accurately reflect their future earnings prospects. Madison conducts extensive research on each prospective investment using a five pillar analysis process to evaluate companies as potential investments for the portfolio. Investments that meet most of the criteria are added to a list of similar companies to be monitored by Madison. Companies meeting all five pillars may be added to the portfolio. The five pillars of the analysis are: (1) strong business traits, (2) defendable market niche, (3) attractive growth potential, (4) capable management, and (5) discount to private market value.
Quarterly Materials
Key Highlights
| (as of Wednesday August 12, 2020) | |||
| Class A | Class Y | ||
| Daily Price | 11.08 | 11.15 | |
| Ticker Symbol | MASMX | BVAOX | |
| Inception Date | 8/31/2019 | 12/16/96 | |
| Expense Ratio | 1.46 | 1.21 | |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Form 8937 – Broadview merger into Small Cap Fund
Portfolio Management
Richard E. Lane, CFA®
Education: University of Wisconsin, MS, BA – Applied Security Analysis Program Investment industry since 1982 Prior Experience: Fiduciary Management, Inc., Cleary Gull Reiland & McDevitt, Inc.
Aaron J. Garcia, CFA®
Education: Rice University, BA Investment Industry since 2002 Prior Experience: Stifel Nicolaus & Co.
Faraz Farzam, CFA®
Education: University of Wisconsin, BS Investment Industyry since 1999 Prior Experience: Strong Capital Management, Inc.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of July 31, 2020) | |
| HAIN CELESTIAL GROUP INC | 4.0% |
| COMMVAULT SYSTEMS INC | 3.2% |
| COVETRUS INC | 3.1% |
| ENCOMPASS HEALTH CORP | 3.1% |
| EDGEWELL PERSONAL CARE CO | 2.9% |
| CATALENT INC | 2.8% |
| FIREEYE INC | 2.8% |
| MASCO CORP | 2.7% |
| MGIC INVESTMENT CORP | 2.3% |
| ENTEGRIS INC | 2.2% |
| % of Fund in Top Ten Securities | 28.9% |
| Net Assets (as of 6/30/20) | $208.5 Million |
| Turnover (audited as of 10/31/19) | 3% |
