Madison Aggressive Allocation Fund Q1 2024 Funding Technique Letter

Disclosures

“Madison” and/or “Madison Investments” is the unifying tradename of Madison Funding Holdings, Inc., Madison Asset Administration, LLC (“MAM”), and Madison Funding Advisors, LLC (“MIA”). MAM and MIA are registered as funding advisers with the U.S. Securities and Trade Fee. Madison Funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the U.S. Securities and Trade Fee as a broker-dealer and is a member agency of the Monetary Business Regulatory Authority. The house workplace for every agency listed above is 550 Science Drive, Madison, WI 53711. Madison’s toll-free quantity is 800-767- 0300.

Upon request, Madison might furnish to the consumer or establishment an inventory of all safety suggestions made inside the previous 12 months. Any efficiency knowledge proven represents previous efficiency. Previous efficiency is not any assure of future outcomes.

Non-deposit funding merchandise should not federally insured, contain funding threat, might lose worth and should not obligations of, or assured by, any monetary establishment. Funding returns and principal worth will fluctuate.

This report is for informational functions solely and isn’t meant as a suggestion or solicitation with respect to the acquisition or sale of any safety.

Indices are unmanaged. An investor can not make investments straight in an index. They’re proven for illustrative functions solely, and don’t signify the efficiency of any particular funding. Index returns don’t embody any bills, charges or gross sales expenses, which might decrease efficiency.

The S&P 500® is an unmanaged index of enormous firms and is extensively considered a regular for measuring large-cap and mid-cap U.S. stock-market efficiency. Outcomes assume the reinvestment of all capital acquire and dividend distributions. An funding can’t be made straight into an index.

Russell Funding Group is the supply and proprietor of the emblems, service marks and copyrights associated to the Russell Indexes. Russell® is a trademark of Russell Funding Group.

The Russell 2000 Index measures the efficiency of the two,000 smallest firms within the Russell 3000® Index, which represents roughly 11% of the overall market capitalization of the Russell 3000® Index.

The Russell Midcap® Index measures the efficiency of the 800 smallest firms within the Russell 1000® Index, which signify roughly 35% of the overall market capitalization of the Russell 1000® Index.

The MSCI ACWI ex USA Index captures giant and mid cap illustration throughout 22 of 23 Developed Markets nations (excluding the US) and 23 Rising Markets nations. With 1,843 constituents, the index covers roughly 85% of the worldwide fairness alternative set exterior the US.

The MSCI EAFE (Europe, Australasia & Far East) Index is a free-float adjusted market capitalization index that’s designed to measure developed market fairness efficiency, excluding the U.S. and Canada.

The MSCI Rising Markets Index captures giant and mid cap illustration throughout 24 Rising Markets (EM) nations.

Bloomberg U.S. Mixture Bond Index is an unmanaged index of U.S. fastened earnings securities. The U.S. Mixture Index covers the USD- denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The index consists of bonds from the Treasury, Authorities-Associated, Company, MBS (company fixed-rate and hybrid ARM passthroughs), ABS, and CMBS sectors.

The CNN Concern & Greed Index is a compilation of seven completely different indicators that measure some side of inventory market habits. They’re market momentum, inventory worth energy, inventory worth breadth, put and name choices, junk bond demand, market volatility, and secure haven demand. The index tracks how a lot these particular person indicators deviate from their averages in comparison with how a lot they usually diverge.

The Magnificent Seven shares are a bunch of high-performing and influential firms within the U.S. inventory market: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla.

Yield Curve is a line that plots yields (rates of interest) of bonds having equal credit score high quality however differing maturity dates. The slope of the yield curve provides an thought of future rate of interest adjustments and financial exercise. There are three primary forms of yield curve shapes: regular (upward sloping curve), inverted (downward sloping curve) and flat.

A foundation level is one hundredth of a %.

Length is a measure of rate of interest sensitivity. For instance, a portfolio with a length of three years can be anticipated to rise 3% if rates of interest have been to fall 1%. It’s measured in years as a result of it may also be used to measure the time it takes to recuperate one’s authentic funding taking all money flows under consideration.

Please seek the advice of along with your monetary advisor to find out your threat tolerance and funding goals. Whereas Madison constructs portfolios for numerous threat tolerances, its Asset Allocation Crew doesn’t decide particular person consumer’s threat tolerance or funding goals.

All investing entails dangers together with the doable lack of principal. There might be no assurance the asset allocation portfolios will obtain their funding goals. The portfolios might spend money on equities that are topic to market volatility. Along with the final threat of investing, the portfolio is topic to extra dangers together with investing in bond and debt securities, which incorporates credit score threat, prepayment threat and rate of interest threat. When rates of interest rise, bond costs typically fall. Securities rated under funding grade are extra delicate to financial, political and antagonistic improvement adjustments. Worldwide equities contain dangers of financial and political instability, market liquidity, forex volatility and variations in accounting requirements.

Holdings might range relying on account inception date, goal, money flows, market volatility, and different variables. Any securities recognized and described herein don’t signify all the securities bought or offered, and these securities will not be bought for a brand new account. There isn’t any assure that any securities transactions recognized and described herein have been, or will probably be worthwhile.

Though the knowledge on this report has been obtained from sources that the agency believes to be dependable, we don’t assure its accuracy, and any such data could also be incomplete or condensed. All opinions included within the report represent the authors’ judgment as of the date of this report and are topic to alter with out discover. Madison-524444-2024-04-09