Madison Investments is proud to announce that the Madison Covered Call & Equity Income Fund, Class R6 (MENRX), was named the best fund in Lipper’s Alternative Long/Short Equity Funds category over ten years.
The Madison Covered Call & Equity Income Fund, managed by Ray Di Bernardo and Drew Justman, is a high-quality, high-conviction equity portfolio with an active, single-stock option overlay to capture growth and income. Defensive by nature, the Fund seeks to provide consistent total return and a high level of income and gains from option premiums. While the Fund may trail in rapidly-rising markets, it has distinguished itself in down, sideways, and steadily-up markets and provided competitive risk-adjusted returns over a full market cycle.
“We commend Ray, Drew, and team for earning this award,” said Steve Carl, Principal and Chairman of the Executive Committee at Madison Investments. “As the past ten years have presented a wide variety of market environments, Madison Investments’ core investment tenet of Participate and Protect continues to resonate with the investors and advisors that we have the privilege of serving. The Covered Call & Equity Income Fund is a great example of our philosophy in action.”
MENRX was named best in the Alternative Long/Short Equity Fund category for the 10-year time period ended 11/30/22 among 27 funds.
About Madison Investments
Madison Investments, founded in 1974, is an independent, employee and founder-owned investment firm offering investment management and investment advisory solutions. The firm, headquartered in Madison, WI, manages over $21 billion in client assets as of December 31, 2022. Madison Investments’ four investment teams, Fixed Income, U.S. Equity, International Equity, and Multi-Asset Solutions, offer investment strategies and solutions to a wide array of clients: Financial Advisors, Consultants, Credit Unions, Insurance Companies, and Private Clients. The firm has built a national reputation for superior customer service, excellent risk-adjusted returns, and crafting portfolios differentiated from passive benchmarks.
About Refinitiv Lipper Fund Awards
For more than 30 years and in over 17 countries worldwide, the Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate.
This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
An investment in the fund is subject to risk and there can be no assurance that the fund will achieve its investment objective. The risks associated with an investment in the fund can increase during times of significant market volatility. The principal risks of investing in the fund include: equity risk, mid-cap company risk, option risk, tax risk, concentration risk and foreign security and emerging market risk. More detailed information regarding these risks can be found in the fund’s prospectus.
As a writer of a covered call option, the fund forgoes, during the option’s life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss should the price of the underlying security decline. In addition to its covered call strategy, the fund may pursue an option strategy that includes the writing of both put options and call options on certain of the common stocks in the fund’s portfolio.
Madison’s expectation is that investors will participate in market appreciation during bull markets and be protected during bear markets compared with investors in portfolios holding more speculative and volatile securities. There is no assurance that Madison’s expectations will be realized.