Baird Ultra Short Bond Fund Investor Cl
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- Baird Ultra Short Bond Fund Investor Class (BUBSX) is an open-end mutual fund that seeks current income consistent with preservation of capital by investing primarily in U.S. dollar-denominated debt securities. The Fund normally invests at least 80% of its net assets in investment-grade debt obligations from U.S. government and public-sector entities; asset-backed and mortgage-backed securities of U.S. and foreign issuers; corporate debt of U.S. and foreign issuers; and money market instruments, with up to 10% allocated to non-investment-grade securities rated B or equivalent. It maintains a duration substantially equal to the Bloomberg U.S. Short-Term Government/Corporate Index benchmark, targeting an effective maturity between three months and 18 months, with a portfolio featuring approximately 359 holdings, an average quality of A+, and sector allocations including 30.5% U.S. Treasuries, 51.2% credit (industrials, financials, utilities), 17.5% securitized (ABS, non-agency CMBS/RMBS), and minimal cash. The Investor Class shares carry a net expense ratio of 0.40%, a minimum initial investment of $2,500 ($1,000 for IRAs), and monthly income distributions, with recent yields around 4.06% SEC 30-day yield as of mid-2025. Baird Funds, Inc., established in 2000 and headquartered at 777 East Wisconsin Avenue in Milwaukee, Wisconsin, offers the Fund through its asset management arm, Baird Asset Management, part of the employee-owned Robert W. Baird & Co. founded in 1919; the Fund itself launched on December 31, 2013, with total net assets exceeding $9 billion. A team of 10 portfolio managers, including co-Chief Investment Officers Warren D. Pierson and Jay E. Schwister (who succeeded Mary Ellen Stanek in early 2025), Charles B. Groeschell, M. Sharon deGuzman, and others, employs a collaborative, bottom-up approach focused on security selection, sector allocation, yield curve positioning, and risk control. In September 2025, parent firm Robert W. Baird & Co. entered a strategic partnership with Sagard, acquiring a minority equity stake to enhance distribution of alternative investments via Baird's $350 billion private wealth management channel and support joint product innovation. The Fund holds Gold Morningstar Medalist Ratings for both Institutional (BUBIX) and Investor classes as of 2025, reflecting strong risk-adjusted performance outpacing its ultrashort bond category peers.