Mairs and Power Growth Fund
(MPGFX)
 

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)

[graphic] PDF icon  Download Growth Fund Commentary (as of 12/31/2009)

[graphic] PDF icon Download Growth Fund performance statistics (as of 02/28/2010)

[graphic] PDF icon Download Growth Fund Portfolio Holdings here (as of 12/31/2009)

[graphic] PDF icon Download Fund Fact Sheet here (dated 12/31/2009)

  Current and historical dividend income & capital gains distribution information

Objectives and Strategies

The objective of the Fund is to provide shareholders with a diversified holding of common stocks which appear to offer possibilities for long-term appreciation.

We expect that common stocks will continue to be the primary emphasis in the portfolio. Preference is given to holdings in high quality companies characterized by:

Because we believe that smaller capitalization companies provide somewhat higher returns over longer time frames, some emphasis is placed on companies that are generally located in the Upper Midwest region. These companies may be underowned by institutional investors.

The Fund seeks to:

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 up to $2.5 billion, and 0.50% of average daily net assets in excess of $2.5 billion per annum. 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 Growth Fund's Board of Directors, you may write to them at this address:

c/o Mairs and Power Growth Fund
332 Minnesota Street, Suite W-1520
SSt. 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 Balanced Fund.

Mark L. Henneman, Vice-President of Mairs and Power, Inc., was named co-manager of the Mairs and Power Growth Fund effective January 1, 2006. Mr. Henneman has been an officer of Mairs and Power, Inc. since July, 2004.

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./p>

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 [graphic] PDF icon PDF files. ([graphic] Adobe Reader icon 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:

Proxy Voting Record

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