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Madison High Quality Bond Fund (Y class) to lower management fee

TheShadowTheShadow
in The Bullpen
https://www.sec.gov/Archives/edgar/data/1040612/000104061220000161/mfhqbscsupplement81420.htm

497 1 mfhqbscsupplement81420.htm 497

(click link to see table)

Madison Funds®
Supplement dated August 14, 2020

This Supplement amends the Prospectus and the Statement of Additional Information (SAI) of the Madison Funds dated June 1, 2020, and the Summary Prospectus for the Madison High Quality Bond Fund and the Madison Small Cap Fund dated June 1, 2020.

Madison High Quality Bond Fund
Effective August 7, 2020, the fund’s investment adviser, Madison Asset Management LLC (“Madison”) agreed to voluntarily waive 0.10% of its 0.30% management fee until at least February 27, 2021. Madison may amend or discontinue this voluntary waiver at any time without prior notice. Madison does not have the right to recoup fees waived. For periods when fees and expenses are waived, the fund benefits by not bearing such expenses. Without such waivers, performance will be lower. As a result of the foregoing, disclosures related to fees and expenses are updated as noted below...
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