Madison Covered Call & Equity Strategy Fund Files DEF 14A

TL;DR

Madison Covered Call & Equity Strategy Fund filed its DEF 14A proxy statement. Shareholders get the details.

AI Summary

Madison Covered Call & Equity Strategy Fund filed a DEF 14A on August 7, 2024, for its reporting period ending July 22, 2024. The filing is a definitive proxy statement, indicating it's for shareholder distribution. The fund is incorporated in Delaware and its fiscal year ends on December 31.

Why It Matters

This filing provides shareholders with important information regarding the fund's operations and governance, allowing them to make informed decisions.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (DEF 14A) and does not inherently present new risks.

Key Numbers

• 20240807 — Filing Date (The date the DEF 14A was filed with the SEC.)
• 20240722 — Reporting Period End Date (The end date for the period covered by the proxy statement.)

Key Players & Entities

• Madison Covered Call & Equity Strategy Fund (company) — Registrant
• 321 NORTH CLARK STREET (address) — Business and Mail Address
• CHICAGO (location) — City
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

• $250,000 — enses are estimated to be approximately $250,000. Moreover, all of the other expenses as

Filing Documents

• a2024mcnspecialmeetingprox.htm (DEF 14A) — 577KB
• image-mcnxpremiumxtoxnav.jpg (GRAPHIC) — 43KB
• filename4.htm (CORRESP) — 27KB
• 0001289868-24-000010.txt ( ) — 664KB

From the Filing

DEF 14A 1 a2024mcnspecialmeetingprox.htm DEF 14A Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ____) Filed by the Registrant X Filed by a Party other than the Registrant Check the appropriate box Preliminary Proxy Statement. Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)). X Definitive Proxy Statement. Definitive Additional Materials. Soliciting Material Pursuant to ss.240.14a-12. MADISON COVERED CALL EQUITY STRATEGY FUND (Names of Registrant As Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box) X No Fee Required. Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies_____________________________________________ (2) Aggregate number of securities to which transaction applies_____________________________________________ (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 240.0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined)_______________________ (4) Proposed maximum aggregate value of transaction____________________________________________________ (5) Total fee paid__________________________________________________________________________________ Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid________________________________________________________________________ (2) Form, Schedule or Registration Statement No.______________________________________________________ (3) Filing Party_________________________________________________________________________________ (4) Date Filed___________________________________________________________________________________ MADISON COVERED CALL EQUITY STRATEGY FUND 550 SCIENCE DRIVE MADISON, WI 53711 August 7, 2024 Dear Shareholder Thank you for your continued ownership of the Madison Covered Call Equity Strategy Fund (the "Fund" or "MCN"). We greatly value the trust you place in us to oversee your investment in the Fund and your ongoing interest in the Fund's operations and governance. We are writing regarding three important matters, which will be considered for approval at a special meeting of the Fund's shareholders on October 15, 2024 (the "Meeting"). Madison Asset Management, LLC ("Madison") has agreed to an arrangement whereby XA Investments LLC ("XAI") will become the adviser of the Fund, and Madison will become the subadviser of the Fund, subject to approval by shareholders. If approved by shareholders, Madison will continue to manage the Fund's portfolio pursuant to its existing investment strategy. To that effect, the Fund has called the Meeting for shareholders to vote on the following proposals (collectively, the "Proposals") 1. A new investment advisory agreement between the Fund and XAI, pursuant to which XAI will serve as the investment adviser to the Fund (the "New Advisory Agreement") 2. A new subadvisory agreement among the Fund, XAI and Madison, pursuant to which Madison will serve as the subadviser to the Fund (the "New Subadvisory Agreement") and 3. A newly constituted slate of trustees to serve on the Fund's board of trustees, consisting of one Class I trustee, two Class II trustees and two Class III trustees (the "New Trustees" or "New Board"). Importantly, the Fund's portfolio management team, investment objectives, principal investment policies and management fees will not change as a result of the Proposals. The Board of Trustees has approved all three of the Proposals and recommends that you vote FOR the Proposals. Given his role on the current Board of Trustees and his proposed role on the New Board, Mr. Jones agreed to recuse himself from all deliberations regarding the Proposals, which were approved by all of the remaining Trustees on the current Board. The Questions-and-Answers section that follows discusses the Proposals, and the Proxy Statement itself provides greater detail about the Proposals. Shareholders of the Fund at the close of business on the record date, July 22, 2024, are entitled to vote at the Meeting and any adjournments, postponements or delays thereof. The Meeting will be held at the offices of Madison, 550 Science Drive, Madison, Wisconsin 53711, on October 15, 2024, at 900 a.m. local time. You may attend the Meeting in person and vote at the Meeting on October 15, 2024, or you may authorize your vote by proxy usin

View Full Filing

View this DEF 14A filing on SEC EDGAR