Company Press Release

Baird Expands Asset Management With Small/Mid Cap Value Team

MILWAUKEE, January 3, 2012
Baird, an employee-owned, international asset management, capital markets, private equity, and wealth management firm with a long-established history in the middle market, today announced the addition of a new small/mid cap equity team led by Michelle Stevens, CFA, a veteran small cap value investor. Stevens and her team will manage institutional and individual equity portfolios. The Baird Funds also plan to expand the offerings with a small cap-value product and will file a prospectus for the Baird Small Cap Value Fund. The new fund is expected to be effective sometime in the first half of 2012.

"It is a Baird priority to grow our asset management business by adding teams capable of adding the value our clients have come to expect," said Mary Ellen Stanek, Managing Director, Director of Asset Management at Baird. “Michelle and her team bring a disciplined, repeatable and proven investment philosophy and process as well as an excellent long term track record.” Prior to Baird, Stevens spent 17 years managing small, mid and all cap value portfolios. She was a portfolio manager with Transamerica Investment Management where she was responsible for both institutional accounts and the Transamerica Small/MidCap Value Fund (IIVAX) from March 2004 through September 2008. In April 2008, Lipper named her fund the best Small Cap Core Fund for the three and five years ended December 2007. Stevens holds an MBA from the University of Cincinnati and a BA from Wittenberg University.

"Baird has built a remarkable asset management business and shares our commitment to excellent results and service," said Michelle Stevens. "Baird's established asset management infrastructure allows us to focus on what we do best – finding great investment opportunities in undervalued companies and delivering terrific service to our clients."

In addition to Michelle Stevens, rounding out the small/mid cap value team are analysts Jonathan DeMoss, CFA, and Richard B. Roesch, CFA, and marketing specialist Rob Zwiebel. The entire team has been together since 2004 and will be based in Cincinnati.

Said Reik Read, Managing Director, Director of Baird Investment Management, "Baird is an excellent middle market firm with a strong Mid Cap Growth product. Michelle and her team have demonstrated a long-term investment approach that is consistent with the quality style emphasized by our equity asset management team. Adding small/mid cap value capabilities is very important to us as we continue to build our institutional equity asset management presence."

About Baird's Asset Management Group
Baird Advisors, Baird Investment Management and Baird Public Investment Advisors manage nearly $17 billion for institutions, public entities, high net worth individuals and the Baird Funds. The Baird Fund family includes Baird Aggregate Bond Fund, Baird Core Plus Fund, Baird Intermediate Bond Fund, Baird Intermediate Municipal Bond Fund, Baird Short-term Bond Fund, Baird MidCap Fund and Baird LargeCap Fund.

About Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has 2,700 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of nearly $84 billion. Committed to being a great place to work, Baird ranked number 14 on FORTUNE’s “100 Best Companies to Work For” in 2011 – its eighth consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s private equity operations. For more information, please visit Baird’s Web site at rwbaird.com.