Midwest Fund Mairs & Power Growth Hangs Tough

Mairs & Power Growth favors firms that are headquartered in the upper Midwest, on the theory that proximity gives them an edge.

When the market gets ugly, Mairs & Power Growth (symbol MPGFX, $124) shines. Over the occasionally odious past 12 months (including late 2018 and the recent spring swoon), the fund, a member of the Kiplinger 25, returned 8.8%, beating the 5.9% gain in Standard & Poor’s 500- stock index and outdoing its peers (funds that invest in stocks with value and growth characteristics). The fund’s stake in health care stocks Abbott Laboratories, Bio-Techne and UnitedHealth Group provided a boost during the period; shares in industrial firms such as Fastenal and Honeywell International helped, too.

The fund’s Minnesota-based management shifted slightly in April. Mark Henneman and Andrew Adams switched roles. Adams is now lead manager, and Henneman—who became the firm’s chairman and chief executive in January 2018—is now a comanager. “I loved being lead manager of the Growth fund,” says Henneman, “but I realized I couldn’t do both jobs effectively.” Longtime analyst Peter Johnson was also named a comanager.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Nellie S. Huang
Senior Associate Editor, Kiplinger's Personal Finance

Nellie joined Kiplinger in August 2011 after a seven-year stint in Hong Kong. There, she worked for the Wall Street Journal Asia, where as lifestyle editor, she launched and edited Scene Asia, an online guide to food, wine, entertainment and the arts in Asia. Prior to that, she was an editor at Weekend Journal, the Friday lifestyle section of the Wall Street Journal Asia. Kiplinger isn't Nellie's first foray into personal finance: She has also worked at SmartMoney (rising from fact-checker to senior writer), and she was a senior editor at Money.