Mairs & Power Announces Small Cap Fund and Growth Fund Portfolio Manager Changes
Mairs & Power announced key management changes affecting the Mairs & Power Small Cap Fund (MSCFX) and the Mairs & Power Growth Fund (MPGFX) effective January 1, 2021. Christopher D. Strom joins as a co-manager for the Small Cap Fund, while Mark L. Henneman steps down from his co-manager role for the Growth Fund but will remain available for consultation. As of September 30, 2020, the Small Cap Fund had $298 million in assets under management, while the Growth Fund managed $4.4 billion. Mairs & Power’s total assets under management amounted to $9.1 billion.
- Appointment of Christopher D. Strom as a co-manager for the Small Cap Fund is expected to add valuable insights based on his deep knowledge of the companies and industries.
- Mark L. Henneman remains as a consultant, ensuring continuity and support for the Growth Fund's management.
- None.
ST. PAUL, Minn., Jan. 4, 2021 /PRNewswire/ -- Christopher D. Strom has joined Allen D. Steinkopf and Andrew R. (Andy) Adams as a co-manager of the Mairs & Power Small Cap Fund (MSCFX). In addition, Mark L. Henneman, Chairman and CEO of Mairs & Power, Inc., will be stepping down as a co-manager of the Mairs & Power Growth Fund (MPGFX). These management changes became effective January 1, 2021.
"It's been a pleasure working side by side with Mark," says Adams, who is also the Growth Fund's Lead Manager and Mairs & Power's CIO. "Even with all of his other duties at Mairs & Power, he has maintained an active role in the Growth Fund and assisted in Pete Johnson's transition to - co-manager. And I'm very glad Mark will be still available for consultation and sharing ideas as a member of our Investment Committee."
Along with Steinkopf, Adams also looks forward to Strom's work as a member of the Small Cap Fund management team. Strom has been working closely with that team for the past year.
"Chris has an amazingly deep knowledge of the companies we follow and the industries they work in," says Steinkopf, the Small Cap Fund's Lead Portfolio Manager. "Chris provides us with an intimate understanding of the strengths these companies have and the challenges they face. He really digs into how they operate. His insights will be of incalculable value as the Fund pursues new opportunities in the years ahead."
Strom began his career with Mairs & Power as an Equity Research Analyst in 2017 before being promoted to Assistant Vice President the following year and Vice President in 2021. Prior to joining Mairs & Power, Mr. Strom was an Analyst at Zuckerman Investment Group in Chicago, IL from 2010 to 2017 and, before that, he worked for Wells Fargo Investments and Riversource Investments (now Ameriprise).
As of September 30, 2020, the Mairs & Power Small Cap Fund (MSCFX) held
About Mairs & Power
Established in 1931, Mairs & Power is an independent, employee–owned investment advisory firm committed to pursuing long–term growth. The firm's mutual funds and individually managed accounts are built on the strength and success of carefully selected, quality stocks and bonds. One of the cornerstones of the firm's equity approach is its regional strategy focusing on stocks of companies headquartered in the Upper Midwest. Mairs & Power manages mutual funds and individually managed portfolios. As of September 30, 2020, Mairs & Power's assets under management totaled
The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. The summary prospectuses or full prospectus contain this and other important information about the Funds, and they may be obtained by calling Shareholder Services at (800) 304–7404, or by visiting mairsandpower.com. Read the summary prospectuses or full prospectus carefully before investing. Investing in the Funds is subject to investment risks, including, but not limited to, possible loss of principal amount invested.
ALPS Distributors, Inc. is the Distributor for the Mairs & Power Funds.
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SOURCE Mairs & Power
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