Mairs & Power Lowers Its Small Cap Fund Management Fee

Effective June 1, Mairs & Power has lowered the management fee on its Small Cap Fund (MSCFX) from 90 to 80 basis points. As a result, the Fund’s overall expense ratio has been reduced to 0.94% from 1.04%.

“We have reduced the Small Cap Fund Management fee to provide investors an even better value.  We believe this move is in keeping with our long-term goal of providing exceptional investment options at or below industry average costs.” said Mairs & Power CEO Mark Henneman.

Mairs & Power has filed a supplement to the Small Cap Fund’s prospectus with the U.S. Securities and Exchange Commission. This supplement also will be mailed to all Fund’s shareholders. The services that the Adviser provides to the Small Cap Fund will not be reduced or modified.