Hot stock market outpaced Minnesota stocks in 2017 – Minneapolis Star Tribune

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Last year was a great one for big-stock investors. Not necessarily, however, if you only owned a basket of big ­Minnesota firms.

“Minnesota companies have a history of participating, but lagging hot markets,” said Mark Henneman, chief executive of Mairs and Power, the St. Paul-based investment manager.

Mairs and Power’s Minnesota-heavy growth fund returned 16 percent last year and a strong 9 percent annually over the last decade. However, last year’s double-digit return lagged the performance of the Standard & Poor’s 500 index of the nation’s largest companies and its tech-heavy superstars of the last few years.

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