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: AZ, CA, CO, FL, GA, HI, IA, IL, KS, KY, MI, MN, NE, NC, NJ, NM, NV, NY, ND, OH, PA, TN, TX, DC, VA, WI

• Date of Inception: 01/10/1961
• Minimum Initial Investment: $2,500 ($1,000 for IRA accounts)
• Subsequent Minimum Purchase: $100.00
• Expense Ratio: 0.77% (annualized as of 12/31/2007)
• Turnover Ratio: 9.07% (as of 12/31/2007)
• Total Net Assets: $145.6 million (as of 12/31/2007)
• Income Distribution: Quarterly
• Capital Gain Distribution: Annual

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.

Click on the link below to view the Balanced Fund's proxy voting record (in HTML format).