• 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.

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®

Aaron J. Garcia, CFA®

Portfolio Highlights

Top Ten Fund Holdings
(as of May 31, 2021)
COMMVAULT SYSTEMS INC4.0%
HAIN CELESTIAL GROUP INC3.4%
OWENS + MINOR INC2.7%
WILLSCOT MOBILE MINI HOLDING2.5%
PACWEST BANCORP2.3%
COVETRUS INC2.2%
EDGEWELL PERSONAL CARE CO2.2%
ENTEGRIS INC2.2%
WESTERN ALLIANCE BANCORP2.1%
PTC INC2.0%
% of Fund in Top Ten Securities25.7%
 
Net Assets (as of 3/31/21) $290.5 Million
Turnover (audited as of 10/31/20) 47%

 

Complete Holdings List