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I'm thinking that I might add considerably to this fund. It seems to be particularly well run. Any thoughts out there? 2013 may be better than expected.
The fund has had a strong first year. I would want to know how the manager handled a period of market selloff and high volatility before I "added considerably" to it. M&P has a good overall record, but you are buying a manager, not a fund company. His record at US Bank (now Nuveen Small Cap Select) prior to moving to M&P, (he ran the Nuveen fund from mid 2004 to early 2007) was OK. His time there was in a period of mostly continuously-rising markets. And he had some sizeable distributions, too. That has not been M&Ps hallmark, however. They may have him be more tax efficient with the new fund.
I've owned MSCFX (Mairs & Power Small-cap) since 09 April, '12. It's up for me by +22.1892% as of last Friday. Consider the run-up in your decision to get in. It is still a very young fund, so in one sense, the sky is the limit. And you don't need to be told, but don't chase hot returns.
Comments
Here's a link to a newspaper article. It's a .pdf.
http://www.mairsandpower.com/index.php?option=com_content&view=article&id=153:category-kings&catid=46&Itemid=72