See the below table for the December 2024 dividend and capital gain distributions for the Mairs & Power Mutual Funds:
| Fund Name | Dividend per Share | Long Term Capital Gain per Share | Short Term Capital Gain per Share | % of Net Asset Value (NAV) as of 12/16/2024 |
|---|---|---|---|---|
| Growth Fund | $0.73941 | $5.04285 | - | 3.31% |
| Balanced Fund | $0.59297 | - | $0.00237 | 0.53% |
| Small Cap Fund | $0.02409 | $0.64104 | - | 2.07% |
Record Date: December 13, 2024
Payable/Ex-Dividend/Reinvestment Date: December 16, 2024
Note About 2024 Capital Gains
We are pleased to announce another year of lower capital gains. A quick reminder that a capital gain distribution occurs when the fund sells assets during the year and the gains on those sales exceed the losses. Sticking to our valuation discipline has meant needing to trim some of the stocks experiencing runs in valuation over the last few years. However, thanks to our continued utilization of ReFlow, we were able to help keep capital gains lower.
ReFlow provides liquidity to the Funds to mitigate trading costs that open-end funds incur in connection with redemptions of fund shares and reduces realized capital gains over the long-term. This program smooths fluctuations in a fund’s cash level and reduces the amount of its flow-related trading activity. ReFlow helped to reduce cash drag on the portfolio and kept assets fully invested.
We believe our long-term investment focus is the best way to make money for our clients. While our Funds have long-term records of tax efficiency and rank among the most tax efficient mutual funds, according to Morningstar, we want to utilize ReFlow for the benefit of our shareholders and will continue to use ReFlow, when appropriate, and in the best interest of the shareholder.
Please reach out if you have questions about the capital gain and dividend distributions.
Funds standardized performance:
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. For most recent month-end performance figures, please call Shareholder Services at 800-304-7404.
As of 9/30/2024, 30-day SEC yields are as follows:
Growth Fund: 0.82%
Balanced Fund: 2.10%
Small Cap Fund: 0.02%
Investing involves risk, including potential loss of principal.
Investing in the Funds is subject to investment risks, including, but not limited to, possible loss of the principal amount invested. These investment risks are explained in the Prospectus.
The Mairs & Power Balanced, Growth, and Small Cap Mutual Funds are offered by Prospectus only. The Funds are not available for sale to investors residing outside of the United States. See each individual Fund for more information. You should read the Prospectus carefully before you invest. A Prospectus is available online. You may also obtain a Fund Prospectus by calling Shareholder Services at 800-304-7404.
Diversification does not eliminate the risk of experiencing investment loss.
Morningstar data is the property of Morningstar, Inc., which is not affiliated with Mairs & Power, Inc.
Foreside Fund Services, LLC is the Distributor for the Mairs & Power Funds. Foreside Fund Services, LLC is not affiliated with Mairs & Power, Inc. Foreside Fund Services, LLC does not distribute the individually managed accounts.