Madison Investments, an investment advisor, released its “Madison Investor’s Fund” first-quarter 2024 investor letter. In the first quarter, the fund (Class Y) returned 9.63% compared to a 10.56% return for the S&P 500 index. The business remains dedicated to its more than two-decades-old strategy of investing in long-term, competitively advantaged, expanding firms at acceptable valuations, even if market performance has been robust over the past year and valuations have generally...
