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

July 9, 2019

The S&P 500 Index generated a total return of +18.5 percent for the first six of 2019, the strongest first half performance since 1997. Equity investor enthusiasm is based on, in large part, the hope that Fed easing will not only extend the U.S expansion, but also compel global central banks to respond in kind, further driving down interest rates. The combination of meager or, in many cases, negative bond yields and rising liquidity will push investors to risk assets to achieve adequate returns (via the TINA, or there is no alternative, effect), possibly resulting in a “melt up” in equities. U.S. growth continues to moderate from difficult year-over-year comparisons due in large part to fading fiscal stimulus, lagged effects of monetary tightening, and persistent trade policy uncertainty. Measures of current economic activity signify a notable downshift in GDP growth post the breakdown in U.S.-China trade negotiations in early May and resumption of earlier-postponed tariff hikes. Whereas the consensus real GDP growth forecast for 2Q19 is currently +1.8 percent, down from +2.5 percent on May 1, the Atlanta Fed’s GDPNow model infers growth closer to +1.3 percent.  An eventual trade deal remains our base case as we believe neither side can withstand the economic pain of a long-term conflict. Still, persistent trade policy uncertainty continues to weigh on business investment and raises the odds of a global downturnDespite mounting headwinds, the economy currently remains in solid shape and there are reasons to believe the expansion has more room to run if there is a timely trade conflict resolution and the Federal Reserve eases policy.

For more details, including a longer discussion of dividend growth stocks, please see Sit Investment Associates’ July 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.