- Diversified Income Fund
Fund Objective
The Diversified Income Fund seeks a high total return through the combination of income and capital appreciation.
Investment Strategies
The Diversified Income 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 managers’ judgments of the relative availability of attractively yielding and priced stocks and bonds. Generally, however, bonds will constitute up to 80% of the fund’s assets, stocks will constitute up to 60% of the fund’s assets, real estate securities up to 25% of the fund’s assets, foreign (including emerging market) stocks and bonds up to 25% and money market instruments may constitute up to 25% of the fund’s assets.
Key Highlights
| (as of Tuesday February 07, 2023) | ||
| Class A | Class C | |
| Daily Price | 14.87 | 15.02 |
| Ticker Symbol | MBLAX | MBLCX |
| Inception Date | 12/29/1997 | 07/31/2012 |
| Expense Ratio | 1.11 | 1.86 |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Portfolio Management
John Brown, CFA
John serves as a portfolio manager on Madison’s U.S. Value Team and has over 25 years of investment experience, serving as a portfolio manager since 1987. Prior to joining Madison, John served in a similar capacity for MEMBERS Capital Advisors and Montgomery Asset Management in San Francisco. He earned a BS in Finance and Computer Science from Northern Illinois University, and an MBA from the University of Wisconsin.
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.
Chris Nisbet, CFA
Chris serves as a portfolio manager for Madison, specializing in government and corporate bond portfolios. He has been working in the financial services industry since 1990. Prior to joining Madison in 1992, Chris previously worked with Firstar Trust Company. He earned his bachelor’s degree in Economics and a Masters in Finance and Investments from the University of Wisconsin.
Drew Justman, CFA
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.
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 December 31, 2022) | |
| JOHNSON + JOHNSON | 2.6% |
| TRAVELERS COS INC/THE | 2.5% |
| CISCO SYSTEMS INC | 2.5% |
| HOME DEPOT INC | 2.4% |
| CVS HEALTH CORP | 2.3% |
| AIR PRODUCTS + CHEMICALS INC | 2.3% |
| CATERPILLAR INC | 2.2% |
| PACCAR INC | 2.2% |
| JPMORGAN CHASE + CO | 2.1% |
| BLACKROCK INC | 2.1% |
| % of Fund in Top Ten Securities | 23.4% |
Complete Holdings List
| Portfolio Mix | |
| Stocks | 67.7% |
| U.S. Treasuries | 10.1% |
| Corporate Bonds | 10.8% |
| Mortgage Backed Securities | 6.1% |
| Cash & Short Term Securities | 2.5% |
| Asset Backed Securities | 1.2% |
| Municipal Bonds | 0.3% |
| Net Assets (as of 12/31/22) | $163.4 Million |
| Turnover (as of 10/31/22) | 32% |
