Mairs and Power Balanced Fund (MAPOX)

Fund Overview

Investment Objectives

The Mairs and Power Balanced Fund (MAPOX) seeks to provide shareholders with regular current income, the potential for capital appreciation and a moderate level of risk by investing in a diversified portfolio including bonds, preferred stocks, common stocks and other securities convertible into common stock. In addition, the Fund seeks to provide a current income yield of at least 25% greater than that of the S&P 500 Index, although there can be no assurance that this objective will be met.

Principal Investment Strategies:

The Fund emphasizes investments in common stock and other securities convertible into common stock as well as fixed income securities. Preference is given to higher rated investment grade fixed income securities (Baa or better by Moody's Investors Service). Lower rated convertible and non-convertible debt securities may be purchased if, in the opinion of the investment adviser, the potential rewards outweigh the incremental risks. The Fund may also invest in foreign securities. The Fund seeks to keep its assets reasonably fully invested at all times, to maintain modest portfolio turnover rates and to moderate risk by investing in a diversified portfolio of equity and fixed income securities.

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.