BMQIX

About BMQIX

Baird Municipal Bond Fund Institutional Class is an actively managed municipal bond mutual fund. Its primary purpose is to deliver a high level of current income that is exempt from federal income tax while emphasizing preservation of capital. The fund follows a national strategy, allocating across diverse municipal sectors such as state and local general obligations, essential services, transportation, healthcare, sales tax issues, and other revenue-backed obligations. It targets an intermediate to long-term profile, investing across the 1–30 year portion of the municipal yield curve and employs yield-curve positioning and relative value analysis to capture pricing inefficiencies. The portfolio sits within the Muni National Long category and is benchmarked to the Bloomberg Municipal Bond Index. Management highlights credit research and sector diversification as core features, with risk considerations including interest-rate sensitivity and economic or political concentration when exposures cluster by state or project type. The share class carries an expense ratio around the lower end of its peer group and is designed for institutional investors seeking tax-exempt income within a disciplined, research-driven municipal framework.