- High Quality Bond Fund
Fund Objective
The fund seeks to obtain the highest total investment return possible within its quality and maturity boundaries.
Investment Strategies
Madison High Quality Bond Fund is a high-quality government and corporate bond fund. It is designed to provide regular income through investments in an actively managed diversified group of bonds which will typically include both government and investment-grade corporate issuance of intermediate duration.
Key Highlights
| (as of Friday January 22, 2021) | |
| Class Y | |
| Daily Price | 11.37 |
| Ticker Symbol | MIIBX |
| Inception Date | 05/01/00 |
| Expense Ratio | 0.49* |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Portfolio Management
Paul Lefurgey, CFA
Paul Lefurgey, CFAChairman of the Executive Committee/Director of Fixed Income
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.
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 Nisbet, CFAPortfolio Manager
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.
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.
Mike Sanders, CFA
Mike Sanders, CFAPortfolio Manager/Analyst
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.
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.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of December 31, 2020) | |
| US TREASURY N/B (2.5% 15 Aug 2023) | 3.2% |
| FANNIE MAE (2.125% 24 Apr 2026) | 3.0% |
| US TREASURY N/B (2.375% 15 Aug 2024) | 3.0% |
| US TREASURY N/B (1.625% 31 May 2023) | 2.8% |
| FANNIE MAE (1.875% 05 Apr 2022) | 2.8% |
| FREDDIE MAC (0.375% 20 Apr 2023) | 2.8% |
| FREDDIE MAC (0.375% 21 Jul 2025) | 2.7% |
| US TREASURY N/B (2.125% 15 May 2025) | 2.7% |
| US TREASURY N/B (2.25% 15 Nov 2024) | 2.7% |
| US TREASURY N/B (2.75% 15 Nov 2023) | 2.7% |
| % of Fund in Top Ten Securities | 28.3% |
| Net Assets (as of 12/31/20) | $183.5 Million |
| Turnover (as of 10/31/20) | 21% |
Mutual funds invested in bonds are subject to certain risks including interest rate risk, credit risk and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest rate risk than short-term bonds.
*Effective August 7, 2020, the investment adviser to the Madison High Quality Bond Fund, Madison Asset Management, LLC (“Madison”) voluntarily agreed to waive 0.10% of its 0.30% management fee until at least February 27, 2021. With this waiver, the expense ratio is 0.39%. The voluntary fee waiver may be amended or discontinued at any time without prior notice. Any fees waived will not be subject to later recoupment by Madison.
*Effective August 7, 2020, the investment adviser to the Madison High Quality Bond Fund, Madison Asset Management, LLC (“Madison”) voluntarily agreed to waive 0.10% of its 0.30% management fee until at least February 27, 2021. With this waiver, the expense ratio is 0.39%. The voluntary fee waiver may be amended or discontinued at any time without prior notice. Any fees waived will not be subject to later recoupment by Madison.
