Mutual funds rating firm Morningstar has upgraded Baird Core Plus, Baird Aggregate and Baird Short-Term Bond Funds to its prestigious Gold rating.
Baird Short-Term Bond Fund (BSBIX/BSBSX) is the only Gold-rated fund in Morningstar’s Short-Term Bond Category (Morningstar.com, 2019). Morningstar wrote, “The small but tight-knit team behind Baird Short-Term Bond is thoughtful about how investors use its portfolios, which informs a circumspect process that doesn’t take risk in esoteric sectors or duration bets. Disciplined security selection and sector rotation combined with low fees have helped the strategy beat its benchmark with modest volatility, supporting a Morningstar Analyst Rating upgrade to Gold from Silver.” To read the full Morningstar write up, click here.
Baird Aggregate (BAGIX/BAGSX) and Baird Core Plus (BCOIX/BCOSX) join 11 Gold rated funds in Morningstar’s Intermediate Bond Category. About Baird Aggregate, Morningstar wrote, “A cohesive team, proven and deliberative process, and low fees position Baird Aggregate Bond for long-term success, supporting an upgrade of the strategy’s Morningstar Analyst Rating to Gold from Silver.” To read the full write up, click here.
On Baird Core Plus, Morningstar said, “Baird Core Plus Bond has a strong foundation for success. Its stalwart team, disciplined process, and low fees align to make the fund a dependable choice in the intermediate-bond Morningstar Category, meriting a Morningstar Analyst Rating upgrade to Gold from Silver.” For the full write up, click here.
Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. This and other information is found in the prospectus and summary prospectus. Please read the prospectus or summary prospectus carefully before investing. The fund’s current performance may be lower or higher than this performance data. Past performance does not guarantee future results.
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Based on a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analyst's overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe. The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. Gold rating - Fund distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. Silver rating - Fund has notable advantages across several, but perhaps not all, of the five pillars-strengths that give the analysts a high level of conviction. Bronze rating – Fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. Neutral rating - Fund isn't seriously flawed across the five pillars, nor does it distinguish itself very positively. Negative rating - Fund is flawed in at least one if not more pillars and is considered an inferior offering to its peers. Analyst Ratings are reevaluated at least every 14 months.