Small Cap Fund (MSCFX) Overview

The Mairs & Power Small Cap Fund is closed to new investors.

Objective

The Mairs & Power Small Cap Fund seeks above-average, long-term appreciation.

Investment Strategy

  • Focuses on companies with attractive business niches, strong competitive positions and the potential to grow revenues, earnings and cash flows consistently over the long-term.
  • Considers the importance of capable management with a track record of prudent capital deployment
  • Emphasizes companies located in the Upper Midwest region of the United States.
  • Seeks to keep its assets reasonably fully invested, maintain modest portfolio turnover rates, and mitigate risk by investing in a diversified portfolio of securities.

The Fund typically invests at least 80% of its net assets (including borrowings for investment purposes) in common stocks issued by small cap companies1, with some emphasis on companies located in the Upper Midwest region. The Fund also can invest in common stocks issued by companies with market capitalizations above the range of the S&P 600; in convertible debt securities which are rated less than investment-grade (also known as "high yield" or "junk bonds"); and up to 25% of its assets in securities of foreign issuers which are listed on a U.S. stock exchange or are represented by American Depositary Receipts (ADRs).

The Fund is offered on a no-load basis.*

*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.

1For this purpose, small cap companies are defined as companies whose market capitalization at the time of purchase come within the range represented by companies in the S&P 600 Index as of December 31 of the preceding year. The S&P 600 is a widely used benchmark for small cap performance and is rebalanced continuously. As of December 31, 2013, the market capitalization ranges for the S&P 600 were approximately $134 million to $4.6 billion.