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

November 11, 2019

Increased prospects for a U.S.-China trade breakthrough, ongoing global central bank easing, better-than-expected calendar third quarter corporate earnings, and stabilizing world manufacturing PMI data (a key leading economic indicator) helped propel equity markets higher in October. Quality growth also returned to a leadership position in October, with growth indices outperforming across the market capitalization spectrum. While the market correction in fourth quarter of 2018 proved a notable exception, stocks have historically benefited from positive seasonality and generated strong returns in the final months of the year. Real GDP growth once again surprised to the upside, rising at a quarter-over-quarter SAAR of +1.9 percent in the third calendar quarter versus consensus estimate of +1.7 percent. We are carefully monitoring confirmation of a bottom and reacceleration in global manufacturing PMI data, which would signal a further shift toward pro-cyclical growth stocks with compelling risk-reward profiles. Tax-exempt closed-end funds were down slightly in October, consistent with the performance from similarly long-duration bonds during the month. The U.S. Treasury and high-grade tax-exempt yield curves steepened in October, as the spreads between 2-year and 30-year bonds widened by 16 basis points on both curves versus the end of September. Flows into tax-exempt bond funds continued their record pace in October, and the supply of new issue municipals increased. We expect this increase in municipal supply to continue through mid-December and believe the market will generally digest this increased supply without significant issues.

For more details, including a longer discussion of health care stocks, please see Sit Investment Associates’ October 2019 Global Investment Outlook and Strategy paper. Click here: Global Outlook and Strategy (Adobe Acrobat) or e-mail us at: siainfo@sitinvest.com.

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.

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.