Madison Dividend Income Fund’s Q1 2023 Investor Letter

Madison Investments, an investment advisor, released its “Madison Dividend Income Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Class Y) returned -2.3% compared to +7.5%, 1.0%, and +0.2% returns for the S&P 500 Index, the Russell 1000 Value Index, and the Lipper Equity Income peer group, respectively. The challenging banking environment pulled the performance of the fund in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.