Mairs and Power

Growth Fund Quarterly Fund Commentary

September 30, 2014

Third Quarter Results

For the third quarter and nine months ending September 30, 2014, The Mairs & Power Growth Fund declined 2.40% and gained 1.68% respectively; underperforming its benchmark, the Standard and Poor's 500 Total Return (TR) Index, which gained 1.13% and 8.34%, and the Lipper Multi Cap Core, its peer group, which lost 0.84% and gained 5.36%. 

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