Sit Investment Associates provides quality investment management expertise in domestic and international growth equities and fixed income. Investment management services are offered across four channels: Separate Accounts, Private Investment Funds, Collective Investment Funds, and Mutual Funds. We take pride in serving as a true extension of our clients’ operations, providing highly individualized service in an increasingly challenging economic and financial environment.

We view investing as the practice of applying a consistent philosophy and decision-making process over meaningful time periods. In fact, the firm’s success is built on long-term client relationships, which in turn are built on a foundation of trust, commitment, understanding, and expertise.

The firm is owned by its seasoned investment professionals, who work hands-on in every aspect of the investment process and client service. We are 100 percent committed to achieving clients’ investment objectives, because our clients’ success results in our success.

Global Investment Outlook and Strategy

April 9, 2019

With a year-to-date return of +13.6 percent, the S&P 500 Index ended the first quarter just 3.3 percent shy of the all-time high of 2,931, and the MSCI World Index was up +12.5 percent for the quarter. U.S. fixed income markets rallied in March after the U.S. Federal Reserve announced it no longer expects to hike in 2019 and plans to stop rolling off its balance sheet in September. In terms of the U.S. economy, elevated policy uncertainty and decreased global trade have contributed to a slow patch. When combined with the seasonal adjustment factor distortion, we forecast quarter-over-quarter, annualized GDP growth of +1.5 percent in 1Q19 (or +2.8 percent year over year), followed by a bounce to +2.3 percent in 2Q19.  However, we project GDP growth will decelerate toward trend of +2.0 percent later in 2019 as the direct impacts of fiscal stimulus wane. The combined fiscal thrust of the U.S., Euro Area, and China in 2019 is set to be the highest since 2009. A trade deal with China would also give an incremental boost to U.S. exports, wage gains are buoying consumer spending, and tightening labor/capacity should spur additional capex. Thus, absent an exogenous shock, we believe the U.S. expansion has more room to run. Cyclical performance should improve as economic data stabilizes and, particularly, as China stimulus begins to take hold.  In addition, while “peak earnings” concerns are limiting investor enthusiasm for cyclicals, the Fed’s dovish stance and improved financial conditions should give investors comfort that the end of this expansion is not imminent.

For more details, including a longer discussion of the significance of an inverted yield curve, please see Sit Investment Associates’ April 2019 Global Investment Outlook and Strategy paper. Click here: Global Outlook and Strategy (Adobe Acrobat) or e-mail us at: siainfo@sitinvest.com.

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February 20, 2019

MMAF Has Awarded Over 17,000 Grants

Since its inception in 2005, Minnesotan’s Military Appreciation Fund (MMAF) has awarded over 17,000 grants totaling over $10.5 million to Minnesota military personnel and their families.   MMAF is a non-partisan, non-political 501(c)(3) non-profit corporation.  It is a statewide fundraising initiative by the citizens of Minnesota.  Its mission is to say “thanks” to Minnesota service members and their families by providing cash grants to those who are making sacrifices in the defense of our freedoms in combat zones around the world.

The tragedy of 9/11 compelled the late Eugene C. Sit, founder of Sit Investment Associates Inc., to create MMAF in order to thank and give back to Minnesota service members.    Sit Investment Associates Inc. continues to support the efforts of MMAF.

To donate and learn more about Minnesotans’ Military Appreciation Fund, please visit the website at www.thankmntroops.org.

Barron’s 2018 Top Mutual Fund Families

Barron’s ranks Sit Mutual Funds a top mutual fund family for 2018.  See the rankings and learn how Sit Mutual Funds earned 7th place.