Three years ago, Duane McAllister, CFA, along with his nationally recognized team, joined Baird Advisors, bringing significant experience and complementary investment perspectives.
"Duane and his team brought an investment process consistent with our risk-controlled approach and integrated seamlessly with our team," said Mary Ellen Stanek, CFA, Managing Director, Chief Investment Officer and President of Baird Funds. "They haven’t missed a beat and we are all better together."
Baird launched two municipal bond funds after the team’s arrival—both have delivered competitive relative returns versus their benchmarks and peer groups through the funds’ three-year anniversary on September 30, 2018:
|Fund Name||1-Year||3-Year||Since Inception||Inception Date|
|Short-Term Municipal Bond Fund (BTMIX)||0.60||1.57||1.65||8/31/15|
|Bloomberg Barclays 1-5 Year Short Municipal Bond Index||0.01||0.80||0.89|
|Lipper Ranking and Percentiles||37 out of 125
|2 out of 112
|2 out of 111
|Overall Morningstar Rating|
|Core Intermediate Municipal Bond Fund (BMNIX)||0.72||2.50||2.63||8/31/15|
|Bloomberg Barclays 1-15 Year Municipal Bond Index||0.02||1.76||1.95|
|Lipper Ranking and Percentiles||32 out of 206
|23 out of 184
|136 out of 219
|Overall Morningstar Rating|
All data as of 9/30/2018. Morningstar Categories: Municipal National Short and Municipal National Intermediate. Lipper ranking and percentile is based on total return. Lipper classification for Baird Short-Term Municipal Bond Fund is Lipper Short Municipal Debt funds and for Baird Core Intermediate Municipal Bond Fund is Lipper Intermediate Municipal Debt Funds. All ratings and rankings are for the Institutional class of the funds.
- Competitive, risk-controlled returns
- Skilled investment team comprising complementary skills and diverse perspectives
- High-quality, competitively priced products
- An unwavering focus on investors’ needs
Duane A. McAllister, CFA
Senior Portfolio Manager
Duane has over 31 years of investment experience managing fixed income portfolios, with a primary focus on the municipal market. His responsibilities include setting and implementing investment strategy, with a major portion of his time allocated to municipal portfolio management and credit research. Duane received his undergraduate degree from Northern Illinois University and was awarded the Chartered Financial Analyst designation in 1991. Duane is currently a member of the CFA Institute and is an active member of the CFA Society of Milwaukee. Prior to joining Baird Advisors, Duane was a managing director and senior portfolio manager at BMO Global Asset Management, where he was the lead portfolio manager for tax-free fixed income strategies.
Mary Ellen Stanek, CFA
Chief Investment Officer
Mary Ellen has over 39 years of investment experience managing a broad range of fixed income portfolios. She is responsible for the formulation of fixed income strategy as well as the development and implementation of all fixed income asset management services. Mary Ellen serves on the board of Baird Financial Group, as President of the Baird Funds and as chair of the Baird Diversity Steering Committee. Mary Ellen obtained her undergraduate degree from Marquette University and her MBA from the University of Wisconsin-Milwaukee. She received the Chartered Financial Analyst designation in 1983. Mary Ellen is currently a member of the CFA Institute and the CFA Society of Milwaukee. Prior to joining Baird Advisors, Mary Ellen was president and CEO of Firstar Investment Research and Management Company (FIRMCO) and was director of fixed income.
Baird Advisors’ Senior Leaders Discuss the Municipal Market
Mary Ellen Stanek, CFA, Warren Pierson, CFA, and Duane McAllister, CFA, offer their mid-year perspectives on the municipal market.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For the Muni National Short category there are 181 funds and for the Muni National Intermediate category there are 261 funds in the category.
The information is current through September 30, 2018, and subject to change. Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment in the fund will fluctuate so that an investor’s shares when redeemed may be worth more or less than their original cost. The fund’s current performance may be lower or higher than the performance data quoted. Investment results assume all distributions are reinvested and reflect applicable fees and expenses. For performance current to the most recent month-end, contact Baird directly at 866-442-2473 or www.bairdassetmanagement.com/baird-funds. Indices are unmanaged and direct investment is not possible. Baird Funds are offered through Robert W. Baird & Co., a registered broker/dealer. Baird also serves as investment advisor for the Funds and receives compensation for these services as disclosed in the current prospectus.
Lipper ranking and percentile is based on total return. Lipper classification for Baird Short-Term Municipal Bond Fund is Lipper Short Municipal Debt funds and for Baird Core Intermediate Municipal Bond Fund is Lipper Intermediate Municipal Debt Funds. All ratings and rankings are for the Institutional class of the funds. Ranks and ratings are for the period from inception date to October 1, 2018. Fund returns are as of the most recent quarter end.
All investments carry risk, including potential for loss of principal. In a rising interest rate environment, the value of fixed-income securities generally declines, and vice versa. Municipal securities may or may not be appropriate for all investors, especially for those in lower tax brackets.
Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. This, and other information can be found in the prospectus or summary prospectus. A prospectus or summary prospectus may be obtained by visiting www.bairdfunds.com or by contacting Baird Funds directly at 866-442-2473. Please read the prospectus or summary prospectus carefully before investing.