Baird Strategic Municipal Bond Fund Investor Class
BSNSX
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USD
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Capital Structure
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 777 East Wisconsin Avenue Milwaukee WI United States of America 53202
- IPO Date
- Nov 15, 2019
- CIK
- 0001282693
- Website
- bairdassetmanagement.com
- Similar Companies
- Business
- Baird Strategic Municipal Bond Fund Investor Class (BSNSX) is an open-end mutual fund that seeks a high level of current income exempt from federal income tax, including the federal alternative minimum tax, consistent with the preservation of capital. The Fund normally invests at least 80% of its net assets in municipal bonds and debentures, including pre-refunded bonds, general obligation bonds, revenue bonds, municipal lease participations, and zero-coupon bonds; it focuses primarily on investment-grade obligations rated by major agencies but may allocate up to 30% to non-investment-grade (high-yield or junk) municipal securities. With a targeted dollar-weighted average effective maturity generally between three months and ten years and a duration of plus or minus two years relative to its Bloomberg 1-10 Year Municipal Blend Index benchmark, the Fund employs a value-oriented strategy emphasizing undervalued securities across sectors such as state and local general obligations, essential service revenue bonds, transportation, healthcare, and sales tax issues. Launched on November 15, 2019, by Baird Funds—a division of Baird Asset Management, Inc., the investment advisory arm of Robert W. Baird & Co., headquartered in Milwaukee, Wisconsin—the Investor Class shares (CUSIP 057071524) feature a net expense ratio of 0.55%, a minimum initial investment of $2,500 ($1,000 for IRAs), and monthly income distributions. The Fund maintains a broadly diversified portfolio of approximately 1,500 to 1,900 holdings, with an average portfolio quality of AA-, effective duration around 5 years, and annual turnover typically below 30%; as of late 2025, total net assets exceed $2.9 billion. It operates within the U.S. municipal bond market, targeting intermediate-term national exposure free from federal taxes, with limited geographic concentration risks mitigated through diversification across states and territories. Recent developments include sustained strong inflows, with Baird Funds recording estimated net inflows of $2.174 billion in August 2025 alone, contributing to midsize firm leadership and assets under management growth. In September 2025, parent firm Robert W. Baird & Co. entered a strategic partnership with Sagard, acquiring a minority equity stake to enhance U.S. wealth channel distribution of alternative investments, expand product innovation, and leverage global networks—bolstering Baird's capacity to deliver differentiated solutions aligned with client needs. The Fund continues to earn accolades, receiving a 2025 LSEG Lipper Fund Award for consistent competitive risk-adjusted returns in the Muni National Intermediate category, alongside a five-star Morningstar rating (Institutional class) among 266 peers as of mid-2025. Portfolio managers Duane A. McAllister, Lyle J. Fitterer, Erik R. Schleicher, Joseph J. Czechowicz, and Gabe G. Diederich oversee operations with a collaborative, bottom-up approach integrating sector expertise and relative value analysis.