Mairs and Power Funds

 

Fund Information

The Fund is offered on a no-load basis, which means that you pay no sales charge for the purchase or sale of Fund shares and no 12b-1 marketing fees. You will, however, incur expenses for investment advisory, management, and administrative services, which are included in annual fund operating expenses.

States Available to Shareholders:  All 50 U.S. States (and including Puerto Rico, U.S. Virgin Islands and Guam)

• Date of Inception: 01/10/1961
• Minimum Initial Investment: $2,500 ($1,000 for IRA accounts)
• Subsequent Minimum Purchase: $100.00
• Expense Ratio: 0.82% (annualized as of 06/30/2010)
• Turnover Ratio: 3.11% (as of 06/30/2010)
• Total Net Assets: $141.3 million (as of 06/30/2010)
• Income Distribution: Quarterly
• Capital Gain Distribution: Annual

  Download Balanced Fund Commentary (as of 06/30/2010)

Download Balanced Fund performance statistics (as of 06/30/2010)

 Download Balanced Fund Portfolio Holdings here (as of 06/30/2010)

 Download Fund Fact Sheet here (dated 06/30/2010)

  Current and historical dividend income & capital gains distribution information

Objectives and Strategies

The objective of the Fund is to provide shareholders with regular current income, the potential for capital appreciation and a moderate level of volatility by investing in a diversified list of securities including bonds, preferred stocks, common stocks and other securities convertible into common stock.

We expect that the Fund's assets will be invested in various types of securities, the proportion of which will vary from time to time in accordance with the judgement of Mairs and Power, Inc., the Fund's investment adviser.

The Fund seeks to:

• Invest in a list of holdings that is diversified by both security type and by industry;
• Invest at least 25% of its assets in non-convertible fixed income securities;
• Emphasize investments in common stock and other securities convertible into common stock;
• Keep assets reasonably fully invested at all times;
• Hold cash equivalent investments (money market funds and other short-term investments) from time to time as a buying reserve to better enable the Fund to meet its objective;
• Keep portfolio turnover relatively low as compared to other balanced mutual funds;
• Invest primarily in higher rated investment grade fixed income securities (Baa or better by Moody's Investors Service). Lower rated fixed income securities may be purchased if, in the opinion of the investment adviser, the potential rewards outweigh the incremental risks.

Fund Management

The Board of Directors has overall responsibility for the Fund. The Fund employs Mairs and Power, Inc. as its investment adviser to manage the Fund's investment portfolio and certain other business affairs. Mairs and Power, Inc. is compensated each month by the Fund at an annual rate of 0.60% based on the Fund's average daily net assets. Mairs and Power, Inc. has managed mutual funds since 1958 and has provided investment counsel services since 1931.

If you wish to contact any member of the Balanced Fund's Board of Directors, you may write to them at this address:

c/o Mairs and Power Balanced Fund
332 Minnesota Street, Suite W-1520
St. Paul, MN 55101-1363

William B. Frels, Chairman of the Board and CEO of Mairs and Power, Inc., is primarily responsible for the day-to-day management of the Fund's portfolio. Mr. Frels has been an officer and director of Mairs and Power, Inc. since July 1992. He is also the lead manager of the Mairs and Power Growth Fund.

Ronald L. Kaliebe, Vice-President of Mairs and Power, Inc., was named co-manager of the Mairs and Power Balanced Fund effective January 1, 2006. Mr. Kaliebe has been an officer of Mairs and Power, Inc. since January, 2002.

U.S. Bank, N.A., Milwaukee, Wisconsin, acts as custodian for the Fund. U.S. Bank is not affiliated with the Fund or investment adviser.

U.S. Bancorp Fund Services, LLC, Milwaukee, Wisconsin, a wholly owned subsidiary of U.S. Bank, N.A., serves as the Fund's transfer agent and dividend disbursing agent.

Fund Reports

The following Fund reports are available for download as PDF files. ( Adobe Acrobat Reader required.) To view or print a report online, or to save the form as a file on your computer, click on the respective title:

• Balanced Fund Privacy Policy (dated May 2001)
• Balanced Fund Summary Prospectus (dated April 30,2010)
• Balanced Fund Statutory Prospectus (dated April 30,2010)
• Balanced Fund Semi-Annual Report 2010 (dated June 30, 2010)
• Balanced Fund Annual Report 2009 (dated December 31, 2009)
• Balanced Fund Statement of Additional Information (dated April 30,2010)
• IRA Disclosure Statement & Custodial Account Agreement

  ... go to  Forms & Applications Page

Proxy Voting Record

Click on the link below to view the Balanced Fund's proxy voting record.

• Balanced Fund Proxy Voting Record (for period ended June 30, 2010)