January 12, 2013
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This is not a complete analysis of every material fact regarding any company, industry or security. The opinions expressed here reflect our judgment at this date and are subject to change.
Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. This and other information can be found in the prospectus or summary prospectus. A prospectus or summary prospectus may be obtained by visiting bairdfunds.com or calling 800-444-9102. Please read the prospectus or summary prospectus carefully before investing.
The Fund invests a substantial portion of its assets in the stocks of mid-capitalization companies. Mid-capitalization companies often are more volatile and face greater risks than larger, more established companies. The Fund focuses on growth-style stocks and therefore the performance of the Fund will typically be more volatile than the performance of funds that focus on types of stocks that have a broader investment style. The Fund may invest up to 15% of its total assets in foreign securities and ADRs. Foreign investments involve risks such as currency rate fluctuations, different and sometimes less strict financial reporting standards and regulation, and the potential for political and economic instability.
Lipper rankings are based on average annual total returns for the one-, five- and 10-year life periods for each respective Lipper category. Each fund is ranked based on average annual total returns assuming reinvestment of dividends and capital gains distributions, at net asset value and the deduction of all fund expenses. Since inception, Lipper rankings are calculated from the month end following the fund’s inception.
As of 12/31/2012, the Baird Mid Cap Fund Investor Class ranked #81 for the one-year period among 392 Mid Cap Growth funds, #42 for the five-year period among 318 Mid Cap Growth funds, #109 for the ten-year period among 220 Mid Cap Growth funds, and #50 since its 12/29/2000 inception among 168 Mid Cap Growth funds. Past performance is not a guarantee of future results. Robert W. Baird & Co. Incorporated.