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.

Sit Mutual Funds was the Barron’s #1 fund family of 2021

In its 2022 annual Best Fund Families article, Barron’s named Sit Mutual Funds as the top fund family. Barron’s measured manager skill across five fund categories. The complete list of ranked fund families is available online.

Market Commentary

June 8, 2022

We expect equities will remain volatile given the many uncertainties tied to inflation, monetary policy, global growth, geopolitical tensions, the midterm elections, supply disruptions, and Covid-19.  While we see a path to a soft landing given underlying economic strength and a resilient consumer, the Federal Reserve must thread a needle to slow demand without squashing job creation.  Still, futures discount a fairly aggressive tightening cycle, with an implied peak fed funds rate of +3.0 percent by April 2023.  In addition, the Fed will begin reducing its bloated balance sheet this month, adding another headwind to the economy and financial markets.  Nonetheless, there is gathering evidence that the year-over-year growth rate in inflation is peaking, which may provide the Fed room to maneuver more judiciously.

In terms of investment strategy, portfolios favor domestic exposure as the stronger trade-weighted U.S. dollar will pressure the earnings of multinational companies.  Moreover, now that valuations are more reasonable, we added to select positions in secular growth tech, especially within software and services, as earnings should prove resilient against a challenging economic backdrop.  Healthcare also remains a favored sector, given its inherent stability.  Finally, we incrementally increased energy exposure on pullbacks as we believe years of industry underinvestment, ongoing production restraint among U.S. producers, and increasingly limited capacity for OPEC+ to ramp production will support oil prices.

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