U.S. Value Investment Strategies

Large Cap Value

Madison’s large cap value strategy is comprised of 30-50 holdings with at least a $1 billion market cap. The strategy has a goal of achieving long-term outperformance over a complete market cycle on a risk-adjusted basis.

To achieve this goal, the team invests in "value" stocks with rising return on invested capital (ROIC) and current valuations below the team's perceived intrinsic value of the stock. The team believes ROIC is the most important metric for evaluating a stock.

Stocks with rising ROIC usually have expanding margins, accelerating earnings growth and working capital improvement.  Additionally, the team’s process attempts to manage risks by avoiding value traps and dead money stocks.  


Large Cap Value Fund

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