- 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 June 16, 2021) | ||||
| Class A | Class Y | Class I | ||
| Daily Price | 15.70 | 15.83 | 15.83 | |
| Ticker Symbol | MASMX | BVAOX | MSCIX | |
| Inception Date | 8/31/2019 | 12/16/96 | 2/26/2021 | |
| Expense Ratio | 1.34 | 1.09 | 0.99 | |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Form 8937 – Small Cap Fund Reorganization 8/29/2019
Portfolio Management
Faraz Farzam, CFA®
Education: University of Wisconsin, BS Investment Industyry since 1999 Prior Experience: Strong Capital Management, Inc.
Aaron J. Garcia, CFA®
Education: Rice University, BA Investment Industry since 2002 Prior Experience: Stifel Nicolaus & Co.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of May 31, 2021) | |
| COMMVAULT SYSTEMS INC | 4.0% |
| HAIN CELESTIAL GROUP INC | 3.4% |
| OWENS + MINOR INC | 2.7% |
| WILLSCOT MOBILE MINI HOLDING | 2.5% |
| PACWEST BANCORP | 2.3% |
| COVETRUS INC | 2.2% |
| EDGEWELL PERSONAL CARE CO | 2.2% |
| ENTEGRIS INC | 2.2% |
| WESTERN ALLIANCE BANCORP | 2.1% |
| PTC INC | 2.0% |
| % of Fund in Top Ten Securities | 25.7% |
| Net Assets (as of 3/31/21) | $290.5 Million |
| Turnover (audited as of 10/31/20) | 47% |
