Core Intermediate Muni Fund Joins Baird's Mid Cap Fund on Prestigious List
It's been just under a year-and-a-half since Duane McAllister and his team of municipal bond portfolio managers joined Baird Advisors and launched two new Baird Funds. One of the municipal bond funds is already attracting positive industry attention.
Baird's Core Intermediate Municipal Bond Fund was added to Morningstar's most recent Prospects List with the following commentary by Emory Zink:
In August 2015, Baird Advisors welcomed Duane McAllister and two members of his municipal team to its roster of fixed-income investment personnel. Prior to joining Baird, McAllister served as a managing director at BMO Global Asset Management, where he was the lead portfolio manager for a number of municipal strategies. An emphasis on bottom-up fundamental security analysis and vigilant risk management led to enviable performance during his July 2007 to mid-May 2015 tenure on BMO Intermediate Tax-Free, which outperformed all muni national intermediate category peers on both an absolute and risk-adjusted basis, as well as the fund's Bloomberg Barclays Municipal Bond Index. Erik Schleicher and Joseph Czechowicz, who started their careers with McAllister at BMO, accompanied him to Baird, where the team continues to follow its rigorous, security-selection driven process. Unlike many of the more narrowly focused Baird municipal offerings, this fund may employ greater flexibility by mandate, considering all sectors and the full gamut of credit quality options. From the fund's inception in September 2015 though November 2016, McAllister and his team haven't missed a step; absolute returns for this fund outpaced its Bloomberg Barclays 1-15 Year Municipal Index by more than a percentage point while landing near the top decile of the category. Risk-adjusted returns during the same period appear even more compelling.
You can read a partial recap of the article here.
The fund is in good company. Baird Equity Asset Management's Mid Cap Fund has been on Morningstar's Prospects List for several years.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.