- Core Bond Fund
Fund Objective
The bond fund seeks to generate a high level of current income, consistent with the prudent limitation of investment risk.
Investment Strategies
The fund invests at least 80% of its assets in bonds. To keep current income relatively stable and to limit share price volatility, the Fund emphasizes investment grade securities and maintains an intermediate (typically 3-6 year) average portfolio duration. In addition to U.S. Government and Corporate debt securities the fund may also invest in asset-backed and mortgage-backed securities, as well as non-rated debt securities.
Key Highlights
| (as of Wednesday September 28, 2022) | |||||
| Class A | Class B | Class Y | Class I | Class R6 | |
| Daily Price | 8.83 | 8.83 | 8.79 | 8.75 | 8.74 |
| Ticker Symbol | MBOAX | MBOBX | MBOYX | MBOIX | MBORX |
| Inception Date | 12/29/97 | 12/29/97 | 6/30/06 | 2/26/2021 | 2/28/2022 |
| Expense Ratio | 0.85 | 1.60 | 0.60 | 0.50 | 0.42 |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Form 8937 - Core Bond Fund Reorganization 4/19/2013
Form 8937 - Core Bond Fund Reorganization 9/11/2020
Portfolio Management
Mike Sanders, CFA
Mike serves as a portfolio manager and credit analyst for Madison's Fixed Income Team. He has been working in the financial services industry since 2004. Prior to joining Madison in 2013, Mike was a fixed income portfolio manager and analyst for Ziegler Lotsoff Capital Management focusing mostly on high yield bonds and preferred stocks. He earned a BBA from St. Norbert College, MS in economics from Marquette University and a MBA with honors from the University of Chicago Booth School of Business.
Allen Olson, CFA
Allen serves as portfolio manager and credit analyst on Madison’s Fixed Income Team. He has been working in the financial services industry since 1998. Allen previously worked as a Fixed Income Credit Analyst and Portfolio Manager for Clarica Insurance in Milwaukee. Allen earned his bachelor’s degree in Economics and his master’s in Management from the University of Wisconsin.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of August 31, 2022) | |
| US TREASURY N/B (2.25% 15 Nov 2025) | 3.7% |
| US TREASURY N/B (2.25% 31 Dec 2024) | 3.2% |
| US TREASURY N/B (2.625% 15 Feb 2029) | 3.0% |
| US TREASURY N/B (2.375% 15 May 2027) | 2.9% |
| US TREASURY N/B (0.375% 31 Jan 2026) | 2.8% |
| US TREASURY N/B (1.5% 15 Aug 2026) | 2.6% |
| US TREASURY N/B (1.375% 15 Nov 2031) | 2.5% |
| US TREASURY N/B (0.625% 15 Aug 2030) | 2.1% |
| US TREASURY N/B (2.25% 15 May 2041) | 2.0% |
| US TREASURY N/B (2.75% 15 Feb 2024) | 1.8% |
| % of Fund in Top Ten Securities | 26.5% |
| Net Assets (as of 6/30/22) | $176.6 Million |
| Turnover (as of 10/31/21) | 30% |
Effective February 1, 2017 new investments in Class B shares are no longer allowed and are available only for exchange from other Class B shares funds. See prospectus for details.
