Investment Manager

Founded in 1931, Mairs & Power, Inc. is Minnesota's oldest investment firm under continuous private ownership and management. We offer an array of investment products to individuals, companies, and organizations. We are seeking candidates for the position of Investment Manager.

Title: Investment Manager
Reports To: Chief Investment Officer
Department: Investment Management
Status: Full Time / Exempt
Location: St. Paul, Minn.

- Hybrid Environment (3 days in-office work required)

An investment manager is responsible for all activities associated with the management of mutual funds, conducting equity research, buying and selling securities on a day-to-day basis, portfolio monitoring, performance measurement and regulatory and client reporting. This position provides financial advice and services to private and corporate clients involving a range of investment matters.

• Serve as a Co‑Manager for the small cap fund and support other Fund Manager’s efforts.
• Construct and manage portfolios in accordance with stated investment objectives, guidelines, and risk parameters, including security selection, sector allocation, and position sizing.
• Monitor portfolio performance, attribution, and risk exposures on an ongoing basis.
• Rebalance portfolios as market conditions, client objectives, or risk tolerances evolve.

• Conduct fundamental research and financial analysis on companies and gather information about the market conditions.
• Stay current on economic trends, financial news, and market developments, including through discussions with sell‑side brokers.
• Ability to identify, assess, and manage stock specific and macro level portfolio risks.
• Organize and conduct regular meetings with senior company management and on‑site visits to analyze company financial matters.
• Generate new investment ideas and recommend securities across Mairs & Power investment products.
• Subscribe to an investment philosophy and process that includes:
  • A preference for long‑term investment (typical portfolio turnover of the fund is 10‑20%).
  • Analysis of competitive positioning using Porter’s Five Forces framework with preference for companies that generate or are positioned to generate consistently above‑average Return on Invested Capital.
  • Evaluation of management based on future strategy as well as historical track record and capital allocation decisions.
  • Assessment of a company's potential for growth over a complete investment cycle which is used to create a dynamic valuation framework with upside and downside price targets for all investments.

• Implement investment policies, procedures and actions developed as a member of the Investment Committee.
• Solid understanding of regulatory frameworks relevant to asset management.
• Assist the Distribution team in communicating with institutional and prospective institutional clients.

• Strong financial modeling, valuation techniques, and portfolio construction principles including optimization and risk budgeting.
• Proficiency in investment related software and platforms (Factset, Bloomberg, etc.).
• The desire, flexibility and curiosity to experiment with new tools (AI‑derived or other), to continuously improve your investment process and that of the firm.

• Excellent networking and relationship management ability.
• Excellent oral and written communication skills.
• Demonstrated judgment under uncertainty, emotional discipline during periods of market stress, and a track record of thoughtful, repeatable decision‑making.
• Effective at communicating with clients and company management.
• Strong, collaborative team approach.
• Willingness to travel.

• Bachelor’s or master’s degree in finance, economics, business studies or a related field required.
• Chartered Financial Analyst (CFA) designation required.
• Minimum of 10 years’ experience in investment management, including equity research.
• Prior experience managing assets with direct accountability for performance.

At Mairs & Power we are committed to long‑term growth, peace of mind and financial security…