On August 8, 2017, Madison Asset Management announced that Glass Lewis & Co., LLC, an independent proxy advisory firm, is recommending investors to support all of management's positions and reject those of Karpus Investment Management. The Fund stated that Glass Lewis recommended shareholders to vote (1) for the reorganization of the Madison Strategic Sector Premium Fund into the Madison Covered Call & Equity Strategy Fund, (2) for Madison Strategic Sector Premium Fund and Madison Covered Call & Equity Strategy Fund's Board nominees, and (3) against shareholder proposals to: a) terminate the investment advisory agreement and b) self-tender shares. In addition, the Fund stated that this recommendation comes only after reports issued by Institutional Shareholder Services Inc., another proxy advisory firm, also recommended that investors support all of management's positions and reject those of Karpus Investment Management.