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.

Market Commentary

November 8, 2021

The S&P 500 Index surged to a record high in October, recouping all its September losses, plus some. Better-than-expected calendar third-quarter corporate earnings underpinned the equity market strength, as did increased investor risk appetite and the T.I.N.A.-effect (i.e., there is no alternative). Led by strength in consumer discretionary, energy, and electronic technology, all eleven GICS sectors generated positive one-month returns.

Portfolios are highly diversified, with an emphasis on quality growth stocks with reasonable valuations.  Falling excess liquidity and rising interest rates are poised to pressure valuation multiples, with upward earnings revisions remaining the key driver of stock outperformance.  Technology remains a preferred sector given favorable cyclical and secular demand drivers, as is the healthcare sector for its compelling combination of visible earnings growth and attractive valuations. Furthermore, we took advantage of pullbacks to add to reopening beneficiaries that possess a lower sensitivity to inflationary pressures.  We also increased positions in select capital goods companies as strong pricing power and the upside from rising infrastructure spending considerably outweigh the risk from rising costs.

For our latest full Global Investment Outlook & Strategy Update, download the .pdf document.