Madison Investments, an investment advisor, released its “Madison Small Cap Fund” first-quarter 2024 investor letter. In the first quarter, the fund returned 11.4% compared to a 5.2% return for the Russell 2000 Index and a 6.9% return for the Russell 2500 Index. All sectors except communication services and energy posted positive relative performance. Sector allocation was also additive, even though stock selection was primarily responsible for the fund’s outperformance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
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