Prudence is the Watchword at Baird Intermediate Municipal Bond – Morningstar Analyst Report, January 2010
This mutual fund takes a cautious approach. Prudence is the watchword at Baird Intermediate Municipal Bond.
January 6, 2010
This fund’s management team is a cautious crew, and runs the portfolio with an eye toward preserving capital and limiting volatility. Its judicious approach emphasizes prerefunded securities, which make up around three quarters of assets. At year-end 2009, the portfolio allocated 87% to AAA rated bonds, more than any other fund in the muni-national intermediate category.