Baird Quality Intermediate Municipal Bond Fund Institutional Class (BMBIX)

Overview

This investment fund focuses on acquiring a diversified portfolio of municipal bonds and debentures, emphasizing those whose interest earnings are not subject to federal income tax. It aims to allocate at least 80% of its net assets towards these tax-exempt municipal obligations, covering a wide spectrum of government authorities across the United States and its territories. This approach allows the fund to cater to investors seeking tax-efficient income sources through their investment portfolios.

Products and Services

• Municipal Bonds and Debentures

  An investment in municipal bonds and debentures forms the cornerstone of this fund’s portfolio. These securities are issued by local or state governments and are favored for their tax-exempt status, providing an income stream free from federal taxes. By focusing on these financial instruments, the fund aims to offer a steady, tax-efficient source of income to its investors.

• Broadly Diversified Portfolio

  The fund invests in a wide array of municipal obligations issued by governmental entities across the U.S. and its territories. This diversification strategy helps spread out risk and ensures a stable return by covering various sectors and geographical locations.

• Variety of Municipal Obligations

  Investments span across all types of municipal obligations, including but not limited to:

  • Pre-refunded Bonds: These are bonds that have been secured by a pool of U.S. Treasury securities, creating a highly secure investment option.
  • General Obligation Bonds: Bonds backed by the issuing state or local government’s credit and taxing power, providing a reliable income source.
  • Revenue Bonds: Bonds financed by the revenues from a specific project or source, such as toll roads or utilities, offering unique investment opportunities.
  • Municipal Lease Participations: Investments in leases or lease-backed securities of municipal entities, adding variety to the investment pool.
  • Tax-Exempt Commercial Paper: Short-term obligations issued by municipalities, often used for interim financing needs.
  This extensive range of products allows the fund to adapt to changing market conditions and regulatory environments, ensuring its ability to meet the tax-exempt income needs of its investors.