Baird Funds Introduces Baird Short-Term Municipal Bond Fund and Baird Core Intermediate Municipal Bond Fund
Baird Intermediate Municipal Bond Fund Renamed Baird Quality Intermediate Municipal Bond Fund
Milwaukee, September 1, 2015 – Baird Funds today launched the Baird Short-Term Municipal Bond Fund (BTMIX/BTMSX) and the Baird Core Intermediate Municipal Bond Fund (BMNIX/BMNSX). Baird's existing municipal bond fund, Baird Intermediate Municipal Bond Fund (BMBIX/BMBSX), will not change but it will be renamed the Baird Quality Intermediate Municipal Bond Fund to stress its high quality focus. In addition, the Fund's benchmark has been updated to the Barclays Quality Intermediate Municipal Bond Index which more closely aligns with the Fund's portfolio composition.
"We are pleased to expand our municipal line up with two funds that provide additional choices for investors while still maintaining our quality investment focus,” said Mary Ellen Stanek, managing director and chief investment officer of Baird Asset Management. “While we will maintain our super high-quality approach with the Baird Quality Intermediate Municipal Bond Fund, the two new funds will have the latitude to invest in a wider array of municipal securities.”
Baird Advisors expanded in May with the addition of a team of nationally-recognized municipal investment professionals from BMO Global Asset Management. Municipal bond portfolio managers Duane McAllister, CFA, Erik Schleicher and Joseph Czechowicz will co-manage the two new funds. Duane and his team have more than 25 years of experience managing municipal portfolios across the yield curve.
Both funds will invest in municipal bonds and seek income which is exempt from federal income tax. These municipal obligations may include debt obligations of states, territories, and possessions of the U.S., as well as political subdivisions, agencies and financing authorities thereof that provide income exempt from federal income tax. Both funds will invest principally in investment grade municipal obligations. Click here to read the prospectus.
About Baird Funds
The Baird Funds are a family of fixed income and equity mutual funds including Baird Ultra Short Term Bond, Baird Short Term Bond, Baird Intermediate Bond, Baird Intermediate Municipal Bond, Baird Aggregate Bond, Baird Core Plus, Baird Small Cap Value, Baird Mid Cap and Baird Large Cap.
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 3,100 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has $152 billion in client assets. Committed to being a great place to work, Baird ranked No. 5 on FORTUNE’s 100 Best Companies to Work For in 2015 – its 12th consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com.
Investors should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. This and other information is found in the prospectus and summary prospectus. For a prospectus or summary prospectus contact Baird Funds directly at 800-444-9102 or contact your Baird Financial Advisor. Please read the prospectus or summary prospectus carefully before investing.
Some of the potential risks associated with fixed income investments include call risk, reinvestment risk, default risk and inflation risk. Additionally, it is important that an investor is familiar with the inverse relationship between a bond’s price and its yield. Bond prices will fall as interest rates rise and vice versa.
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