Balanced Fund Quarterly Fund Commentary
September 30, 2014
Third Quarter Results
For the third quarter ending September 30, 2014, The Mairs & Power Balanced Fund declined 1.73%; underperforming its benchmark composite index (60% S&P 500 Stock Index and 40% Barclays Capital Government/Credit Bond Index), which gained 0.76%. For the nine months ending September 30, 2014 the Mairs & Power Balanced Fund lagged its benchmark 4.08% to 6.70%.
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