McAllister, Fitterer Discuss Muni Bond Opportunities in Barron's
In a recent Barron's article titled "Higher Yields Are a Boon for Muni Bond Buyers," senior portfolio managers and co-leads of Baird Funds municipal sector Duane McAllister, CFA, and Lyle Fitterer, CFA, discuss where they are seeing some of the most compelling opportunities across the municipal market.
In the article, the portfolio managers highlight how structural opportunities within the municipal market, such as high-coupon callable bonds, may offer attractive income potential without excess risk. Additionally, they illustrate the benefits active management can provide for investors looking beyond broad market indexes.
Read the full article on Barron's
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Because the Fund may invest more than 25% of its total assets in municipal obligations issued by entities located in the same state or the interest on which is paid solely from revenues of similar projects, changes in economic, business, or political conditions relating to a particular state or types of projects may have a disproportionate impact on the Fund. In a rising interest rate environment, the value of fixed-income securities generally decline and conversely, in a falling interest rate environment, the value of fixed income securities generally increase. High yield securities may be subject to heightened market, interest rate or credit risk and should not be purchased solely because of the stated yield. Municipal securities may or may not be appropriate for all investors, especially for those in lower tax brackets. All investments carry risk, including loss of principal.
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