Baird’s Municipal Bond Fund Team Marks Three-Year Anniversary With Strong Performance

Three years ago, Duane McAllister, CFA, along with his nationally recognized team, joined Baird Advisors, bringing significant experience and complementary investment perspectives.

"Duane and his team brought an investment process consistent with our risk-controlled approach and integrated seamlessly with our team," said Mary Ellen Stanek, CFA, Managing Director, Chief Investment Officer and President of Baird Funds. "They haven’t missed a beat and we are all better together."

Baird launched two municipal bond funds after the team’s arrival—both have delivered competitive relative returns versus their benchmarks and peer groups through the funds’ three-year anniversary on August 31, 2018:

Fund Name1-Year3-YearSince InceptionInception Date
Short-Term Municipal Bond Fund (BTMIX) 0.76 1.80 1.80 8/31/15
Bloomberg Barclays 1-5 Year Short Municipal Bond Index 0.60 1.04 1.04
Lipper Ranking and Percentiles 28 out of 115
24%
2 out of 103
2%
2 out of 103
2%
Overall Morningstar Rating 5 Stars
Core Intermediate Municipal Bond Fund (BMNIX) 0.88 2.87 2.87 8/31/15
Bloomberg Barclays 1-15 Year Municipal Bond Index 0.11 2.19 2.19
Lipper Ranking and Percentiles 35 out of 109
17%
19 out of 187
10%
19 out of 187
10%
Overall Morningstar Rating 5 Stars

All data as of 8/31/2018. Morningstar Categories: Municipal National Short and Municipal National IntermediateLipper ranking and percentile is based on total return. Lipper classification for Baird Short-Term Municipal Bond Fund is Lipper Short Municipal Debt funds and for Baird Core Intermediate Municipal Bond Fund is Lipper Intermediate Municipal Debt Funds. All ratings and rankings are for the Institutional class of the funds.

Baird Advisors' core leadership has worked together for more than 30 years, placing them in a distinctive position within the industry to help clients meet their objectives. Their philosophy is built on timeless principles:
  • Competitive, risk-controlled returns
  • Skilled investment team comprising complementary skills and diverse perspectives
  • High-quality, competitively priced products
  • An unwavering focus on investors’ needs

Baird Advisors’ Senior Leaders Discuss the Municipal Market

Mary Ellen Stanek, CFA, Chief Investment Officer; Warren Pierson, CFA, Deputy Chief Investment Officer; and Duane McAllister, CFA, Senior Portfolio Manager, offer their perspectives on the municipal market as the firm’s newest funds celebrate their three-year anniversary.

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Municipal Bond Market Q&A: Duane McAllister, CFA   


For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For the Muni National Short category there are 181 funds and for the Muni National Intermediate category there are 261 funds in the category.

The information is current through August 31, 2018, and subject to change. Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment in the fund will fluctuate so that an investor’s shares when redeemed may be worth more or less than their original cost. The fund’s current performance may be lower or higher than the performance data quoted. Investment results assume all distributions are reinvested and reflect applicable fees and expenses. For performance current to the most recent month-end, contact Baird directly at 866-442-2473 or www.bairdassetmanagement.com/baird-funds. Indices are unmanaged and direct investment is not possible. Baird Funds are offered through Robert W. Baird & Co., a registered broker/dealer. Baird also serves as investment advisor for the Funds and receives compensation for these services as disclosed in the current prospectus.

Lipper ranking and percentile is based on total return. Lipper classification for Baird Short-Term Municipal Bond Fund is Lipper Short Municipal Debt funds and for Baird Core Intermediate Municipal Bond Fund is Lipper Intermediate Municipal Debt Funds. All ratings and rankings are for the Institutional class of the funds. Ranks and ratings are for the period from inception date to September 1, 2018. Fund returns are as of the most recent quarter end.

All investments carry risk, including potential for loss of principal.  In a rising interest rate environment, the value of fixed-income securities generally declines, and vice versa.  Municipal securities may or may not be appropriate for all investors, especially for those in lower tax brackets.

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 www.bairdfunds.com or by contacting Baird Funds directly at 866-442-2473. Please read the prospectus or summary prospectus carefully before investing.