During a special meeting on October 15, 2024 (the “Special Meeting”), shareholders of the Madison Covered Call & Equity Strategy Fund (NYSE: MCN) voted to approve a new partnership with XAI, a leading investment advisory firm. The agreement stipulates that XAI will become the investment adviser to the Madison Covered Call and Equity Strategy Fund, a $147 million listed closed-end fund.
This partnership marks a significant milestone for Madison Investment Advisors, as they seek to enhance their investment strategies and provide greater value to their clients. The collaboration with XAI is expected to bring a fresh perspective and innovative approach to managing the fund's assets.
The Madison Covered Call and Equity Strategy Fund, which has a strong track record of delivering consistent returns to shareholders, will benefit from XAI's expertise in investment management and risk mitigation. The combined strengths of both firms are expected to create a powerful synergy that will drive growth and success for the fund.
Madison Capital Markets, an affiliate of Madison Capital Group, also made headlines with the recent addition of Steve Shore as Executive Vice President. Shore's extensive experience in the financial industry is expected to further strengthen Madison's position as a leading investment advisory firm.
In a separate development, a 63-year-old investment advisor from Madison, Wisconsin, was sentenced to four and a half years in federal prison for defrauding his retiree clients. This incident serves as a reminder of the importance of working with reputable and trustworthy investment advisors, such as Madison Investment Advisors.
MAI Capital Management, on the other hand, continued its acquisition streak by acquiring Madison Wealth Management, a registered investment advisory firm with $1 billion in assets under management. This move further solidifies MAI Capital Management's position as a market leader in the wealth management industry.
Madison Investments, an independently-held investment firm based in Madison, Wisconsin, has been making waves in the financial sector with their strategic partnerships and acquisitions. The recent collaboration with XAI and the acquisition of Madison Wealth Management showcase Madison Investments' commitment to growth and innovation.
Overall, the partnership between Madison Investment Advisors and XAI is poised to bring about positive changes and opportunities for investors. With a focus on delivering superior results and maximizing returns, the two firms are well-positioned to navigate the ever-changing landscape of the financial markets.
