In January, Baird Advisors was named a finalist for the Morningstar 2016 Fixed Income Fund Manager of the Year Award for its management of the Baird Core Plus Bond Fund (BCOIX). Baird Advisors is honored to be nominated for the award, alongside an esteemed group of other proven bond fund managers.
Morningstar discussed the fixed income nominees in an article published January 19, excerpted below:
Baird Core Plus Bond’s long-tenured team, led by Mary Ellen Stanek, implements a straightforward strategy that has produced strong absolute and risk-adjusted results over time, supporting its Morningstar Analyst Rating of Silver. The fund is managed with a duration that is kept in line with that of its Barclays U.S. Universal benchmark and does not use derivatives or foray into foreign currency. Ultimately, sector allocation decisions and security selection, particularly within the fund’s credit holdings, are critical to success, and the team has delivered consistently. Moreover, without substantial allocations to high yield and emerging markets, this fund has kept pace with and often surpassed more-intrepid peers who have a wider variety of levers at their disposal. In 2016, an overweighting to credit and strong security selection, especially in financials, helped it to a 4.8% gain that edged out roughly 85% of its peers. Modest allocations to commercial mortgage-backed securities (5% as of December 2016) and out-of-benchmark nonagency residential mortgage-back securities (8% as of December 2016) also added to returns. That the fund has delivered strong results in a risk-conscious and consistent way, tested by bouts of market stress, makes it a compelling option for this year’s top prize.
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Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained here and should be read carefully before investing.
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