Baird Core Plus Bond Fund Class Institutional 

The Baird Core Plus Bond Fund's main objective is to achieve an annual total return, before accounting for fund expenses, that surpasses the performance of the Bloomberg Barclays U.S. Universal Bond Index. To achieve this, the fund commits at least 80% of its net assets to various U.S. dollar-denominated fixed-income securities. These include debt issued by the U.S. government and other public sector entities, asset-backed and mortgage-backed obligations originating from both domestic and international issuers, and corporate bonds from companies based in the U.S. and abroad. While the portfolio primarily consists of investment-grade debt instruments, it retains the flexibility to allocate up to 20% of its net assets to lower-rated, non-investment grade bonds, commonly referred to as "high-yield" or "junk" bonds.