MSP and MCN Announce Auditing Appointment
12 2월 2013 - 5:31AM
Marketwired
Madison Asset Management has announced the appointment of the
independent registered public accounting firm, Deloitte &
Touche LLP, for the two closed-end funds it manages, both of which
use covered call strategies: Madison Covered Call and Equity
Strategy Fund (NYSE: MCN) and Madison Strategic Sector Premium Fund
(NYSE: MSP). The move is part of a consolidation of auditing
oversight for all open-end and closed-end funds in the Madison
family to one company. The Boards of Trustees of the two funds
approved the appointment for purposes of efficiency and economies
of scale and expressed no disagreement with the funds' outgoing
auditors.
The two funds share an objective to achieve a high level of
current income and current capital gains, with long-term capital
appreciation as a secondary objective. They intend to pursue their
objectives by investing in a portfolio of common stocks and
utilizing an option strategy, primarily by writing (selling)
covered call options on a substantial portion of the common stocks
in the portfolio in order to generate current income and gains from
option writing premiums and, to a lesser extent, from dividends.
Market action can impact dividend issuance as significant decreases
or increases in the funds' total assets affect their future
dividend prospects.
The funds provide additional information on their website at
www.madisonfunds.com. Madison Asset Management, LLC (Madison), a
subsidiary of Madison Investment Holdings, Inc., is the funds'
investment adviser. Its affiliates include Madison Investment
Advisors, LLC, with which it shares all resources at our Madison,
Wisconsin headquarters, Madison Scottsdale, LC, Scottsdale,
Arizona, Concord Asset Management, LLC, Chicago, Illinois and
NorthRoad Capital Management LLC, New York City.
CONTACT: Madison Investment Advisors Larry Tabak Email Contact
800-368-3195
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