Madison Dividend Income Fund’s Q1 2021 Investor Letter

Madison Funds, an investment management firm, published its “Madison Dividend Income Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A  return of +7.6% was delivered by the fund’s Class Y  for the Q1 of 2021, ahead of its S&P 500 benchmark that delivered a +6.2% return but below the Russell 1000 Value index that had an +11.2% gain for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.