Fundsters looking for domestic plays may want to read up on yesterday's Morningstar Fund Spy column
, which highlighted Mairs & Power Growth
co- managers Bill Frels
and Mark Henneman
The Mairs & Power [see profile]
PMs reportedly stay close to home on their bets, typically holding between 35 and 50 stocks of companies, which are located in or near their home base in Minnesota.
The PMs reportedly kick tires around the state and its Midwestern neighbors for companies that span the market-cap spectrum including 3M and Johnson & Johnson, and have been rewarded for their support of local stocks. Their fund's 10- and 15-year returns are reprotedly more than 300 basis points higher than the large-blend category average and the S&P 500 Index.
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