Mairs & Power Growth Fund Returns to Its Original Name, the Mairs & Power Fund

ST. PAUL, Minn., April 30, 2026 /PRNewswire/ -- Mairs & Power, Inc., an independent, employee-owned investment firm, announced that its flagship mutual fund, the Mairs & Power Growth Fund, will return to its original name, the Mairs & Power Fund, effective April 30, 2026.

The name change aligns with recent updates to the U.S. Securities and Exchange Commission's (SEC) "Names Rule," which requires fund names to more precisely reflect how portfolios are managed. This is a name change only: the Fund's investment objective, philosophy, and disciplined investment process remain unchanged.

While the Fund has historically invested in companies with strong growth characteristics, its bottom-up, company-first approach has never been limited to a single investment style. The Fund will continue its multi-cap approach, focused on growth at a reasonable price, while balancing risk and return through disciplined valuation. Returning to the Mairs & Power Fund name preserves portfolio management flexibility while remaining compliant with regulatory requirements.

"Returning to the original name reflects both the Fund's heritage and long-standing investment philosophy that has guided our approach for decades," said Andrew R. (Andy) Adams, Chief Investment Officer of Mairs & Power.

The Fund will continue to trade under the same ticker (MPGFX) and CUSIP (89834G711). Shareholders do not need to take any action because of the name change.

Portfolio Management Update

In addition to the name change, Mairs & Power announced portfolio management updates as part of its long-term succession planning process. Effective June 30, 2026, Peter (Pete) J. Johnson will become lead manager of the Mairs & Power Fund. Andrew R. (Andy) Adams will transition to co-manager and continue in his role of Chief Investment Officer. The Fund's management team will also be strengthened with the addition of Christopher D. (Chris) Strom as a co-manager.

"Pete has made significant contributions to the Mairs & Power Fund since he joined the firm in 2010; first as an analyst, and now as a co-manager," said Robert W. (Rob) Mairs, CEO and Chair of Mairs & Power. "Our shareholders should feel confident in Pete's direction for the Fund as he assumes the lead manager role."

Pete and Chris have worked side-by-side for almost nine years at Mairs & Power and trace their professional relationship back to graduate school. Their close working relationship will continue to grow through this management change, Mairs added. Transitioning to co-manager also allows Andy to remain actively involved in the Fund while dedicating additional focus to firmwide investment leadership, including the thoughtful evaluation of new technologies that support the investment process.

"These planned transitions reflect our deliberate and disciplined approach to succession planning," said Mairs. "Andy is to be commended for his work developing our next generation of fund managers at Mairs & Power."

About the Fund

The Mairs & Power Fund was launched November 11, 1958, as one of the first 100 mutual funds in the United States. In 1962, it was renamed the Mairs & Power Growth Fund. Over its long history, the Fund has maintained a disciplined, bottom-up investment approach focused on identifying high-quality companies with durable competitive advantages and attractive growth prospects, purchased at reasonable valuations.

About Mairs & Power

Founded in 1931 and based in St. Paul, Minnesota, Mairs & Power is Minnesota's oldest investment firm under continuous private ownership and management. The firm manages more than $11.5 billion in assets across individually managed accounts serving individuals and organizations, three mutual funds, the Mairs & Power Fund (MPGFX), the Mairs & Power Balanced Fund (MAPOX), and the Mairs & Power Small Cap Fund (MSCFX), an Exchange Traded Fund (ETF), the Mairs & Power Minnesota Municipal Bond ETF (MINN), and venture capital. For more information, please visit our website www.mairsandpower.com.

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.

The mention of a specific fund or product is not intended as a recommendation or an offer of a particular fund or product, nor is it intended to be a solicitation for the purchase or sale of any fund or product.

Distributed by Foreside Fund Services LLC.

SOURCE Mairs & Power