BMBIX : Baird Quality Intermediate Municipal Bond Fund Class Institutional

Fund Summary

The investment seeks current income that is substantially exempt from federal income tax; total return with relatively low volatility of principal is a secondary objective. The fund invests in municipal debt obligations issued by governmental authorities throughout the United States and its territories. It primarily purchases general obligation and pre-refunded bonds issued for any purpose, and revenue bonds funding education, housing, transportation and essential services including, without limitation, water, sewer and electricity. The fund normally invests at least 80% of its net assets in a diversified portfolio of bonds and debentures.