- 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 Friday August 18, 2017) | |||
| Class A | Class B | Class C | |
| Daily Price | 15.41 | 15.50 | 15.49 |
| Ticker Symbol | MBLAX | MBLNX | MBLCX |
| Inception Date | 12/29/1997 | 12/29/1997 | 07/31/2012 |
| Expense Ratio | 1.10 | 1.85 | 1.85 |
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.
Paul Lefurgey, CFA
Paul serves as the Director of Fixed Income investments for Madison and is a member of the Investment Strategy Committee. Paul has been working in the financial services industry since 1988. Prior to joining Madison in 2005, he was Head of Fixed Income at MEMBERS Capital Advisors and at Duff & Phelps Investment Management where he served on the Investment Strategy Committee for both organizations. He earned his bachelor’s degree in Accounting from Michigan State University.
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.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of July 31, 2017) | |
| US BANCORP | 2.1% |
| JOHNSON + JOHNSON | 2.0% |
| BOEING CO/THE | 1.9% |
| MICROSOFT CORP | 1.9% |
| CARNIVAL CORP | 1.8% |
| UNITED TECHNOLOGIES CORP | 1.8% |
| PNC FINANCIAL SERVICES GROUP | 1.8% |
| UNITED PARCEL SERVICE CL B | 1.7% |
| CISCO SYSTEMS INC | 1.7% |
| EXXON MOBIL CORP | 1.7% |
| % of Fund in Top Ten Securities | 18.2% |
Complete Holdings List
| Portfolio Mix | |
| Stocks | 56.3% |
| U.S. Treasuries | 9.9% |
| Corporate Bonds | 13.6% |
| Mortgage Backed Securities | 10.6% |
| Cash & Short Term Securities | 2.5% |
| Asset Backed Securities | 4.7% |
| Municipal Bonds | 2.4% |
| Net Assets (as of 6/30/17) | $160.4 Million |
| Turnover (as of 10/31/16) | 35% |