2011 was a year marked by volatility in the stock markets. Many investors are stymied by the risks making headline news each day. Based on the swings of the market throughout 2011, investors have oscillated between a preference for safety and, upon a break in the economic storm clouds, a quick turn toward accepting risk. The team at Madison Asset Management, LLC led by Jay Sekelsky, Chief Investment Officer, sees opportunities amidst the turmoil. Madison Asset Management (“Madison”) manages more than $5 billion for credit unions and their members. Please join us for a lively discussion with Jay Sekelsky to take a look back on the past year and a look ahead to see where Madison is finding value.

In Washington, the high stakes game of dealing with the deficit has lead to a deep political divide and a high level of economic and fiscal uncertainty. The weight of the depressed housing market continues to overwhelm the economy. The difficulties in Europe are now driving US Fixed Income markets on a daily basis, creating the “risk on/risk off” volatility. The shrinking supply of permissible investments has made traditional credit union investing incredibly challenging as agencies are reducing issuance, interest rates are at historic lows and corporate credit unions are under a new mandate. It is a new paradigm. So what is a credit union to do with negative loan growth, special assessments and high levels of liquidity? Ed Meier, senior portfolio manager of MEMBERS Capital Advisors, will walk through the fixed income markets and discuss the forces ahead in the bond market.