MMDAX : Madison Moderate Allocation Fund Class A

Fund Summary

The investment seeks capital appreciation, income and moderated market risk. The fund invests primarily in shares of other registered investment companies (the "underlying funds"). Under normal circumstances, the fund's total net assets will be allocated among various asset classes and underlying funds, including those whose shares trade on a stock exchange, with target allocations over time of approximately 60% equity investments and 40% fixed income investments.