Madison International Stock Fund Class A NMFQS:MINAX

Under normal market conditions, the fund invests at least 80% of its net assets (including borrowings for investment purposes) in the stock of foreign companies. Typically, a majority of the fund’s assets are invested in relatively large capitalization stocks of issuers located or operating in developed countries. The fund may also invest up to 40% of its assets in securities of companies whose principal business activities are located in emerging market countries.