SAINT PAUL, Minn., Oct. 6, 2017 /PRNewswire/ -- Bert McKasy, current Chair of the Mairs & Power Funds Trust Board of Trustees, will be retiring on December 31 of this year, having reached the Board's mandatory retirement age of 75. The Board of Trustees has appointed Dr. Mary Schmid Daugherty to succeed Mr. McKasy as Board Chair effective January 1, 2018. Dr. Daugherty has been a Trustee of the Funds since 2010 and is the current Audit Committee Chair.
The Board of Trustees also appointed two new Trustees to the Board effective January 1, 2018: Susan Knight and Mark Henneman. Ms. Knight is retired from MTS Systems Corporation where she was Senior Vice President and Chief Financial Officer. She currently serves as Chair of the Surmodics, Inc. Board of Directors. Mark Henneman is President of the Funds Trust and President and Chief Investment Officer of Mairs & Power, Inc. Continuing to serve as Trustees of the Funds are James Alt, the current Nominating and Governance Committee Chair, Dr. Mary Schmid Daugherty, Patrick Thiele, who will succeed Dr. Daugherty as Audit Committee Chair, and Jon Theobald, the current Chairman and CEO of Mairs & Power, Inc.
About Mairs & Power
Mairs & Power is an independent, employee owned investment management firm focused on long-term performance. The firm's strength and success have been built by applying a consistent, conservative investment approach since 1931. The cornerstone of the firm's equity approach is a regional strategy with a heavy representation in stocks of companies headquartered in the Upper Midwest. Mairs & Power manages individual advisory client portfolios and three mutual funds: Mairs & Power Growth Fund – MPGFX, Mairs & Power Balanced Fund – MAPOX and Mairs & Power Small Cap Fund - MSCFX. As of June 30, 2017 Mairs & Power's assets under management totaled $9.6 Billion. For further information go to www.mairsandpower.com.
Investing in the Funds is subject to investment risks, including, but not limited to, possible loss of the principal amount invested.
The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectuses contain this and other important information about the Funds, and may be obtained by calling Shareholder Services at (800) 304-7404, or by visiting www.mairsandpower.com. Read the prospectus and summary prospectuses carefully before investing.
ALPS Distributors, Inc. is the Distributor for the Mairs & Power Funds.
SOURCE Mairs & Power