The Baird Strategic Municipal Bond Fund Institutional Class (BSNIX) is a mutual fund that primarily invests in municipal bonds. These bonds are issued by state and local governments to fund public projects such as schools, roads, and utilities. The fund aims to provide investors with a steady stream of tax-free income while also seeking to preserve capital. As an institutional class fund, it is designed for larger investors such as institutions and high net worth individuals. BSNIX is managed by Baird Funds, a reputable investment management firm, and may be a suitable option for those seeking a conservative fixed-income investment with potential tax benefits.