Founded in 1981, Sit Investment Associates is a privately held, multi-billion-dollar asset management firm that provides focused investment management expertise, competitive long-term results, and unparalleled service to our clients.
Sit Investment Associates is one of the largest independent, minority-owned investment firms in the U.S. For over 40 years our success has been built on long-term client relationships, which in turn are built on a foundation of trust, commitment, understanding, and expertise. We take pride in serving as a true extension of our clients’ operations. Our highly experienced and knowledgeable investment professionals work directly with clients providing highly individualized service in an increasingly challenging economic and financial environment.
We employ a disciplined, fundamental, research-driven investment process guided by highly experienced and knowledgeable senior investment professionals who interact directly with our clients. As a result, our clients can count on the firm to achieve highly competitive results, coupled with exceptional client service.
We view investing as the practice of applying a consistent philosophy and collaborative decision-making process driven by disciplined, fundamental research. Our broad top-down analysis in tandem with extensive bottom-up analysis enables us to identify, assess and understand the securities in which we invest.
After 2023’s robust gains, large-cap equity indices produced relatively modest returns in January. The S&P 500 and Russell 1000 Growth returned +1.68 and +2.49 percent, respectively, with both measures besting their prior highs from January 2022 during the month. However, index performance was highly concentrated. Nvidia, Microsoft, Meta, and Eli Lilly contributed +149 basis points (or 88 percent) to the S&P 500’s return and +247 (or 99 percent) to the Russell 1000 Growth’s. Excluding those four stocks, the S&P 500 gained about +0.26 percent on a market-cap-weighted basis, and the Russell 1000 Growth returned +0.07 percent.
We still expect the Fed will start cutting rates mid-year as the economy slows and inflation continues to ebb, with three or four 25-basis points reductions by the end of 2024.
Treasury spreads imply market volatility, as measured by the CBOE Volatility Index, will rise through mid-2026 from last year’s historically low levels. Moreover, the presidential election will undoubtedly add to already-high economic, policy, and geopolitical uncertainty. On average, the S&P 500 Index has moved sideways in the first half of a presidential election year but rallied in the second to deliver a +6.9 percent return. We remain focused on picking high-quality stocks with secular and/or cyclical growth drivers, especially in the electronic- and health-technology sectors.
Our broad array of investment products encompasses the complete risk spectrum – from capital preservation to capital appreciation—enabling us to meet our clients’ entire range of investment objectives.
We are committed to a disciplined, fundamental, research-driven investment process. As a result, clients can count on the firm to achieve highly competitive results in tandem with exceptional client service.
Sit Mutual Funds is a family of mutual funds covering the entire risk spectrum, from stability of principal to high growth and grounded in our well-defined, hands-on management style and disciplined investment process.