W1520 First National Bank Building |
332 Minnesota Street
St. Paul, MN 55101
Main Phone: 651-294-8309
Mutual Fund Brand(s)
Mairs and Power Funds
SEC Fund Filings by CIK
Mairs and Powers is an independently-owned investment advisory firm based in St. Paul, Minnesota. William Frels is the chairman and CEO while Jon Theobald overseas day-to-day operations as president, COO and CCO.|
HistoryA dearth of competitors in the Twin Cities led then 28-year-old George A. Mairs, Jr. to found the company in 1931. Mairs' initial focus was on railroad-related securities. George C. Power, Jr. joined the firm in 1944.
The firm launched its two mutual funds in 1958 (M&P Growth) and 1961 (M&P Balanced) as a way to allow provide services to small investors who did not meet the firm's minimums for individual accounts. During the 1950s the firm had focused on the retirement funds and institutional clients.
Both were established as no-load funds, bearing neither sales nor redemption charges. At that time there were fewer than 100 such funds in the nation.
George A. Mairs, Jr. retired from active management in 1975 and remained a shareholder until his death in 1983. His son, George A. Mairs III took control of the firm until his retirement in 2009 (he died in 2010).
William B. Frels joined the firm in 1992 as the portfolio manager for the Balanced Fund. He took over as co-PM for M&P Growth Fund in 1999 and took over as lead manager in 2004. Frels became chairman CEO in 2007.
Jon A. Theobald became president and chief operating officer in 2007 and currently holds day-to-day responsibility for running the firm. He joined the firm in 2002 and became chief compliance officer, a title he still holds, in 2003.
Incoming CEO, chairman, Mairs & Power
Chairman Emeritus, Trustee, Mairs & Power
Incoming President, Mairs and Power
Incoming CIO, Mairs and Power, Inc.
Vice President, Mutual Funds, Mairs and Power, Inc.
Director of Operations, Mairs and Power, Inc.
Vice President, Co-PM, Mairs and Power, Inc.