Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc. It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in reasonably priced growth (GARP) stocks of large and mid-cap companies. It also writes covered call options to make its investments. The fund employs fundamental analysis with a bottom-up stock picking approach, focusing on such factors as PEG ratios (price-earnings ratio to growth rate), financial strength, and industry leadership to create its portfolio. It benchmarks the performance of its portfolio against the CBOE S&P 500 Buy/Write Index. The fund conducts in-house research to make its investments. It was formerly known as Madison/Claymore Covered Call & Equity Strategy Fund. Madison Covered Call & Equity Strategy Fund was formed on May 6, 2004 and is domiciled in the United States.

Madison Covered Call & Equity Strategy Fund

XA Investments LLC ("XAI") is a Chicago-based firm founded by XMS Capital Partners in April 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds (including interval funds and listed closed-end funds) to meet our asset management client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

XA Investments LLC

On Oct 4th, Benjamin McCulloch will be leading the Blue Vault ALTS Day discussion on interval fund market trends and developments. Check out the agenda to learn more.

Benjamin McCulloch, XA Investments LLC General Counsel, contributed to a new FundFire Alts article on the implications to the interval fund market of a change to the SEC’s definition of accredited investor. “A lot of [semi-liquid] funds that have come to the market over the last four to five years are suitable for accredited investors,” he explains, noting that a change in the definition would impact managers of interval funds aimed at accredited investors.

To read the full article, please click here: https://lnkd.in/eDrapRXi

#IntervalFunds #SemiLiquidFunds

XFLT, the XAI Octagon Floating Rate & Alternative Income Term Trust, reaches $500mm in total managed assets. For more info, please see the press release.

https://lnkd.in/eSC7hbc6

How to Launch an Interval Fund: XA Investments LLC, Faegre Drinker, PINE Advisor Solutions and U.S. Bank are hosting panel discussions and cocktails on Monday, November 13th in NYC. Interval fund industry experts will discuss best practices when launching an interval fund. Asset managers please reach out to info@xainvestments.com if you are interested in attending.

#IntervalFunds

Blue Vault interviewed Kimberly Ann Flynn, CFA on the key differences between interval funds and mutual funds.  

https://lnkd.in/gaxdQCx8

XFLT, the XAI Octagon Floating Rate & Alternative Income Term Trust, declared its September 2023 distribution. For more info, please see the press release.

https://lnkd.in/gvrzP22X

As investor demand for sustainable investment strategies grows, managers are seeking out new sources of permanent capital and new ways to offer strategies to investors. The interval fund market and the London-listed fund market have seen numerous sustainability-focused funds launch in recent years, as both structures are well-suited to alternative and less liquid investments.

In late July, XA Investments LLC hosted an event focused on this topic, featuring a panel of industry experts who shared their insights on sustainable investing and trends in new product launches. To read about the event, visit our website at the following link: https://lnkd.in/e4jfxwG4

#SustainableInvestments #IntervalFunds #XAIConsulting

XFLT announced its upcoming quarterly investor update on August 22, 2023. For more information on the XAI Octagon Floating Rate & Alternative Income Term Trust and to register for the webinar, please see our press release or visit our website.

https://lnkd.in/gfAUudKj

As the interval fund market continues to mature, an increasing number of fund sponsors are coming back to the market to launch additional funds. The interval fund market now has 33 fund sponsors (27.5% of all fund sponsors) with at least two interval funds. See below for a list of the top ten repeat interval fund sponsors by total interval fund AUM.

For more information on the interval fund and tender offer fund marketplace, request a copy of the XA Investments LLC Quarterly Market Update for CEFs and Non-Listed Funds at info@xainvestments.com or via our website: https://lnkd.in/gJ-yKzBy. The in-depth report provides actionable insights and consolidated data, including market statistics, IPOs, recent fund filings, sponsor data, and market overview.

#IntervalFunds #TenderOfferFunds

In 2Q23, the UK investment companies market welcomed the first Main Market investment company IPO since December 2021. Funds in the London-Listed secondary market continued to trade at wider-than-average discounts and raised £952 million throughout H1 2023, compared with £4.04 billion raised by existing investment companies in H1 2022. See below for the full XA Investments LLC Q2 2023 London-Listed Investment Companies Market Update.

To be included in the distribution list for the quarterly London-Listed investment companies market update, please contact info@xainvestments.com. Those looking to learn more about the London market can also read our white paper here: https://lnkd.in/g9bDudYF

#InvestmentCompanies #LondonStockExchange

	Mar '21	Jun '21	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22	Dec '22	Mar '23	Jun '23	Sep '23	Dec '23
net income	11.07M -	11.07M 0%	214.71K 98.06%	214.71K 0%	-4.10M 2,007.39%	-4.10M 0%	7.50M 283.12%	7.50M 0%	5.22M 30.35%	5.22M 0%	2.42M 53.65%	2.42M 0%
depreciation and amortization
deferred income tax
stock based compensation
change in working capital
accounts receivables
inventory
accounts payables
other working capital
other non cash items	-11.07M -	-11.07M 0%	-214.71K 98.06%	-214.71K 0%	4.10M 2,007.39%	4.10M 0%	-7.50M 283.12%	-7.50M 0%	-5.22M 30.35%	-5.22M 0%	-2.42M 53.65%	-2.42M 0%
net cash provided by operating activities
investments in property plant and equipment
acquisitions net
purchases of investments
sales maturities of investments
other investing activites
net cash used for investing activites
debt repayment
common stock issued
common stock repurchased
dividends paid
other financing activites
net cash used provided by financing activities
effect of forex changes on cash
net change in cash
cash at beginning of period
cash at end of period
operating cash flow
capital expenditure
free cash flow

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XA Investments LLC

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