- Madison Covered Call and Equity Strategy Fund (MCN)
Fund Objective
MCN has a primary objective of obtaining a high level of current income and gains, with a secondary objective of achieving long-term capital appreciation.
Investment Strategies
Quarterly Fund Fact Sheet
Disclosure Documents
Dividend Releases
Press Releases & Notices
Press Release - Tender Offer Results (11/09/18)
Press Release - Tender Offer Expiration (11/08/18)
Press Release - Tender Offer Announcement (10/10/18)
Press Release - Madison Closed-End Funds Announce Completion of Mergers of the Funds (10/8/18)
Press Release - MSP and MCN Announce Results of Shareholder Vote (9/28/18)
Annual Meeting Notice & Proxy Statement (8/27/18)
Press Release - MSP and MCN Announce Intention to Merge followed by Tender Offer (6/29/18)
19A-1 Notice - 12/18
19A-1 Notice - 9/18
19A-1 Notice - 6/18
19A-1 Notice - 3/18
Form 8937 (2018)
Form 8937 (2017)
Form 8937 (2016)
Form 8937 (2015)
Form 8937 (2013)
Form 8937 (2012)
Archived Releases & Notices
Portfolio Management
Ray Di Bernardo, CFA
Ray is the lead portfolio manager for Madison's Covered Call portfolios and has more than 25 years of equity management experience. Prior to joining Madison in 2003 he was an equity analyst at Concord Trust in Chicago, and before that, an equity analyst and co-manager of international and emerging market portfolios at a Toronto-based international equity firm. Ray holds a BA from the University of Western Ontario.
Drew Justman, CFA
Drew serves as a portfolio manager on Madison’s Value Team. Prior to joining Madison, he worked with Merrill Lynch. Drew holds a BBA in Finance and Economics and an MS in Finance from the University of Wisconsin. He also graduated from the Applied Security Analysis Program.
Portfolio Highlights
| Top Ten Fund Holdings | |
| (as of January 31, 2019) | |
| ALPHABET INC CL C | 3.9% |
| NEWMONT MINING CORP | 3.6% |
| MICROSOFT CORP | 3.5% |
| GENERAL MOTORS CO | 3.2% |
| SEMPRA ENERGY | 3.0% |
| BANK OF AMERICA CORP | 3.0% |
| DISCOVERY INC C | 2.9% |
| JPMORGAN CHASE + CO | 2.9% |
| ARCHER DANIELS MIDLAND CO | 2.7% |
| CITIGROUP INC | 2.7% |
| % of Fund in Top Ten Securities | 31.3% |
Key Highlights
| (as of Friday February 22, 2019) | |
| NAV | 7.52 |
| Market Price | 6.89 |
| Inception Date | 7/27/2004 |
| NYSE Symbol | MCN |
| NAV Symbol | XMCNX |
| Distribution Frequency | Quarterly |
| Expense Ratio | 1.06 |
Sector Concentration
| (as of March 31, 2017) | |
| Information Technology | 19.4% |
| Short-Term Investments, Options, and Other Net Assets & Liabilities | 16.5% |
| Health Care | 13.5% |
| Consumer Discretionary | 8.6% |
| ETFs | 7.2% |
| Financials | 6.6% |
| Industrials | 5.6% |
| Real Estate | 5.3% |
| Energy | 5.0% |
| Consumer Staples | 5.0% |
| Materials | 3.2% |
| Utilities | 2.6% |
Contact Us
Investment Management:
800.767.0300
