Kevin V. Earley, CFA, serves as the lead portfolio manager with industry experience since 1986 and has been managing the Balanced Fund since January 1, 2015. Co-Manager Brent S. Miller, CFA, has been involved with the fund since 2011. Both managers work within Mairs & Power, Inc., Minnesota's oldest privately owned investment firm founded in 1931 and operating as a 100% employee-owned organization. The firm employs 44 total staff members with 17 dedicated to investment advisory and research, including 15 CFA charterholders with an average of over 21 years of experience. The management team emphasizes long-term investment relationships and disciplined portfolio management.

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The Mairs & Power Balanced Fund seeks to provide capital growth, current income and preservation of capital through a moderate allocation strategy of approximately 60% equity and 40% fixed income. The fund emphasizes companies with consistent, above average growth potential and durable competitive advantages, focusing generally on companies located in Minnesota and other states in the Upper Midwest region of the U.S. The firm believes the best way to make money for clients is to consistently utilize a disciplined long-term investment approach, favoring companies headquartered in Minnesota and the Upper Midwest, a region they have found fosters high quality companies with excellent management teams. Up to 25% may be invested in securities of foreign issuers listed on U.S. exchanges or represented by ADRs.

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