In an increasingly global economy, a mutual fund such as Mairs and Power Growth fund (MPGFX) stands out for its Minnesota focus. The fund, which typically owns 35 to 50 large company stocks, tends to invest in companies headquartered in or near Minnesota. It's a strategy that's served the fund well, achieving long-term returns that left the Standard & Poor's 500 index in the dust. Over the past 15 years Mairs and Power returned 10.20 percent compared to the S&P 500's 6.68 percent, according to Morningstar, whose mutual fund analyst Karin Anderson just wrote an article about the fund, which currently has a five star rating.

The article gets into some of the fund's notable holdings and comes to the following conclusion:

This isn't the first article to mention Mairs and Power as a good choice. It made a list of Kiplinger Magazine winners in September and was mentioned in June articles from Money Magazine and US News and World Report.

While Mairs and Power is known for its unique Minnesota-centric investment strategy, with names such as 3M and General Mills in the portfolio, the fund manages to get international exposure while staying close to home.

Are you a Mairs & Power investor? Have you been happy with the fund? What other Minnesota-based mutual funds have you used to reach your financial goals?