Baird Intermediate Bond Fd Investor Cl
BIMSX
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- Baird Intermediate Bond Fund Investor Class (BIMSX) is an open-end mutual fund that seeks an annual rate of total return, before fund expenses, greater than that of the Bloomberg Intermediate U.S. Government/Credit Bond Index. The Fund normally invests at least 80% of its net assets in U.S. dollar-denominated, investment-grade debt obligations, including securities issued by U.S. government and public-sector entities; asset-backed and mortgage-backed obligations of U.S. and foreign issuers, such as non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (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 duration-neutral strategy matching the benchmark's duration of approximately 3.76 years, with an average effective maturity between three and six years, diversified across roughly 800 holdings emphasizing risk control through security selection, sector allocation, yield curve positioning, and competitive trade execution. Launched on September 29, 2000, the Fund is domiciled in the United States and available primarily to U.S. investors, with a minimum initial investment of $2,500 for Investor Class shares ($1,000 for IRAs) and an expense ratio of 0.55%, including a 0.25% 12b-1 fee. Baird Advisors, a division of Robert W. Baird & Co., incorporated in Milwaukee, Wisconsin, serves as the investment adviser, employing a seasoned team of portfolio managers led by Mary Ellen Stanek, CFA, Warren D. Pierson, CFA, and others with expertise in credit, securitized sectors, and relative value analysis. As of November 2025, Fund assets exceed $12.4 billion, with Investor Class NAV around $11.07, monthly income distributions yielding approximately 3.82% SEC 30-day yield, and a quality profile dominated by U.S. Treasuries (47.1%), followed by BBB (22.5%), A (15.7%), and AAA (10.6%) rated securities. The Fund operates within the intermediate core bond category, targeting institutional and retail investors seeking moderate interest-rate sensitivity and mid-credit quality exposure, with top holdings including U.S. Treasury Notes and a sector mix of government (46.5%), credit (42.2%), and securitized (10.9%). No major acquisitions, funding rounds, product launches, or strategic shifts specific to the Fund have been reported in the last 1-2 years; Baird Funds continue distribution through Robert W. Baird & Co., a registered broker-dealer and member NYSE/SIPC, amid Baird's broader firm activities such as partnerships in wealth management and private equity investments unrelated to this Fund.