Baird Aggregate Bond Fund Institutional Class
BAGIX
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- Baird Aggregate Bond Fund Institutional Class (BAGIX) is an open-end mutual fund that seeks an annual rate of total return, before fund expenses, greater than that of the Bloomberg U.S. Aggregate Bond Index through a duration-neutral, risk-controlled investment approach. The Fund normally invests at least 80% of its net assets in U.S. dollar-denominated, investment-grade debt securities, including obligations of U.S. government and other public-sector entities; asset-backed and mortgage-backed securities of U.S. and foreign issuers, such as U.S. agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), non-agency RMBS and CMBS, and asset-backed securities (ABS); and corporate debt of U.S. and foreign issuers across sectors like industrials, utilities, financials, and non-corporate credit. It maintains a portfolio with an effective duration matching the benchmark (approximately 6.03 years), an average effective maturity of around 7.93-7.98 years, and diversification across approximately 2,000 holdings with an average quality rating of AA-; sector allocations typically include U.S. government (non-MBS) at 30%, credit at 37%, and securitized at 32%. The Institutional Class shares a net expense ratio of 0.30%, a minimum initial investment of $10,000, and monthly income distributions, with assets under management exceeding $55 billion as of September 2025. Offered by Baird Funds, Inc., an affiliate of Robert W. Baird & Co., the Fund operates within the intermediate core bond category and targets institutional and qualified investors seeking investment-grade fixed-income exposure with competitive risk-adjusted returns. Baird Funds, Inc. was incorporated in 2000 and is based at 615 East Michigan Street, Third Floor, Milwaukee, Wisconsin, while parent firm Robert W. Baird & Co., founded in 1919, maintains global operations across the United States, Europe, and Asia. In early 2025, the Fund's management team underwent a leadership transition, with Jay Schwister succeeding Mary Ellen Stanek as co-CIO alongside Warren Pierson; Stanek transitioned to emeritus CIO status while retaining her role as a named portfolio manager. The Fund's Institutional Class continues to hold a Gold Morningstar Medalist Rating (analyst-driven) and a 4-star overall Morningstar Rating among 430 intermediate core bond funds as of September 2025. Baird announced a strategic partnership with Sagard in September 2025, acquiring a minority equity stake to enhance distribution of private market strategies through its wealth management channels, supporting broader asset management growth.