Baird Chautauqua International Growth Fund Institutional Class CCWIX Strategy

The investment seeks to provide long‑term capital appreciation. The fund invests primarily in equity securities of non‑U.S. companies with medium to large market capitalizations (i.e., those typically with market capitalizations in excess of U.S. $5 billion at the time of purchase). It will invest at least 65% of its total assets at the time of purchase in non‑U.S. companies. The fund will normally be diversified among at least three countries other than the U.S. It invests in developed markets and emerging markets.