Baird Quality Intermediate Municipal Bond Fund Investor Class (BMBSX)

Overview

The fund is primarily focused on investing in municipal bonds and debentures that offer federal income tax-exempt interest. With a strong commitment to diversification, this fund allocates its assets across a wide array of municipal obligations issued by various governmental authorities across the United States and its territories. This approach is grounded in the fund's strategy to minimize risks while striving to secure stable, tax-advantaged income for its investors. Additionally, the fund's investment portfolio includes a variety of municipal securities, ensuring a balanced exposure to different sectors and maturities.

Products and Services

• Municipal Bonds and Debentures

  The cornerstone of the fund's investment strategy, these are debt securities issued by various municipalities across the U.S. The interest income generated from these bonds and debentures is exempt from federal income tax, providing a tax-efficient investment option for investors.

• Pre-Refunded Bonds

  Pre-refunded bonds are part of the fund's investment repertoire. These bonds have been secured by a trustee who holds sufficient government securities to pay off the principal and interest, offering a high level of security and predictability for investors.

• General Obligation Bonds

  Investments in general obligation bonds are backed by the full faith and credit of the issuing municipality. The fund selects these securities based on the financial strength and creditworthiness of the issuers, providing a reliable source of tax-exempt income.

• Revenue Bonds

  These bonds finance income-producing projects and are repaid from the revenue generated by those projects. The fund invests in revenue bonds to diversify its portfolio and tap into the potential of various sectors, including utilities, transportation, and healthcare.

• Municipal Lease Participations

  Municipal lease participations allow investors to partake in the financing of municipal assets. This form of investment diversifies the fund’s portfolio by including securities backed by lease, rent, or installment sale payments made by municipal entities.

• Tax-Exempt Commercial Paper

  As part of its strategy to maintain liquidity and flexibility, the fund includes tax-exempt commercial paper in its investments. These short-term obligations provide a quick, efficient means to invest in high-quality, tax-exempt securities.