Fund info

Baird Quality Intermediate Municipal Bond Fund Institutional Class is an actively managed mutual fund focused on generating current income that is substantially exempt from federal income tax, with a secondary aim of total return and relatively low principal volatility. The portfolio primarily holds investment‑grade, intermediate‑term municipal obligations issued by state and local authorities, normally investing at least 80% of net assets in municipal bonds and debentures whose interest is exempt from regular federal income tax. Management employs a duration‑neutral, risk‑controlled approach, targeting the duration of the Bloomberg Quality Intermediate Municipal Bond Index to enhance predictability versus its benchmark. The fund sits in the Muni National Intermediate category and is offered as an institutional share class. Core characteristics often include high credit quality with limited interest‑rate sensitivity, reflecting an emphasis on risk control and intermediate duration positioning. Within the municipal market, the fund provides diversified exposure across revenue and general obligation issuers and sectors, serving as a tax‑efficient fixed income allocation for investors seeking federally tax‑exempt income through a professionally managed, benchmark‑aware strategy.