- High Income Fund
Fund Objective
The High Income Fund seeks high current income. The fund also seeks capital appreciation, but only when consistent with its primary goal.
Investment Strategies
The High Income Fund invests primarily in better quality, B-rated bonds that offer opportunity for capital appreciation. Using a cautious, conservative style that avoids deeply discounted issues, the goal is to outperform the high yield market with less volatility.
Key Highlights
| (as of Friday February 22, 2019) | |||
| Class A | Class B | Class Y | |
| Daily Price | 5.86 | 6.03 | 5.75 |
| Ticker Symbol | MHNAX | MHNBX | MHNYX |
| Inception Date | 12/29/97 | 12/29/97 | |
| Expense Ratio | 1.02 | 1.77 | 0.77 |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Portfolio Management
Allen Olson, CFA
Allen Olson, CFAPortfolio Manager/Analyst
Allen serves as portfolio manager and credit analyst on Madison’s Fixed Income Team. He has been working in the financial services industry since 1998. Allen previously worked as a Fixed Income Credit Analyst and Portfolio Manager for Clarica Insurance in Milwaukee. Allen earned his bachelor’s degree in Economics and his master’s in Management from the University of Wisconsin.
Allen serves as portfolio manager and credit analyst on Madison’s Fixed Income Team. He has been working in the financial services industry since 1998. Allen previously worked as a Fixed Income Credit Analyst and Portfolio Manager for Clarica Insurance in Milwaukee. Allen earned his bachelor’s degree in Economics and his master’s in Management 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 January 31, 2019) | |
| UNIT CORP (6.625% 15 May 2021) | 2.9% |
| OUTFRONT MEDIA CAP LLC/C (5.625% 15 Feb 2024) | 2.6% |
| RAYONIER AM PROD INC (5.5% 01 Jun 2024) | 2.6% |
| MURPHY OIL USA INC (5.625% 01 May 2027) | 2.0% |
| CARRIZO OIL + GAS INC (6.25% 15 Apr 2023) | 1.9% |
| AMERICAN MIDSTREAM PTR/F (9.5% 15 Dec 2021) | 1.8% |
| PILGRIM S PRIDE CORP (5.75% 15 Mar 2025) | 1.8% |
| NIELSEN FINANCE LLC/CO (5% 15 Apr 2022) | 1.8% |
| GAMESTOP CORP (6.75% 15 Mar 2021) | 1.7% |
| CCO HLDGS LLC/CAP CORP (5.875% 01 Apr 2024) | 1.6% |
| % of Fund in Top Ten Securities | 20.7% |
| Net Assets (as of 12/31/18) | $18.9 Million |
| Turnover (as of 10/31/18) | 25% |
Complete Holdings List
