Mairs & Power Lowers Its MN Municipal Bond ETF Management Fee
Effective September 1, Mairs & Power has lowered the management fee on its Minnesota Municipal Bond ETF (MINN) to 0.25% of the Fund's average daily net assets. Prior to September 1, 2023, the MINN’s management fee was 0.39% of its average daily net assets.
“We have reduced the MINN Management fee to provide investors an even better value. We believe this move is in keeping with our long-term goal of providing exceptional investment options at or below industry average costs.” said Mairs & Power CEO Mark Henneman.
MINN provides shareholders with exposure to many Minnesota municipal bonds through just one vehicle, along with a low expense ratio, double tax-exemption (federal and state) for Minnesota residents, active management, fund price transparency, and anticipated monthly income distributions. We believe investing in MINN gives individuals and organizations the chance to invest in the future of Minnesota.
Mairs & Power has filed a supplement to the Minnesota Municipal Bond Fund’s prospectus with the U.S. Securities and Exchange Commission. The services that the Adviser provides to the Minnesota Municipal Bond ETF will not be reduced or modified.