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

September 10, 2019

Global equity markets were volatile in August as investors navigated slowing global growth, declining bond yields, an inverted yield curve, and the ongoing U.S.-China trade conflict. Trade policy uncertainty continues to weigh on both investor and business sentiment globally. In contrast, U.S. consumer spending has so far remained largely unscathed by the U.S.-China trade conflict, buoyed by a tight labor market, improving wage growth, and rising household net worth. U.S. leading indicators continue to advance and do not suggest recession is imminent within the next 12 to 18 months. Moreover, financial markets, and the economy, continue to be sustained by the notion that the “Fed put” is alive and well. In fact, fed fund futures currently imply about four 25 basis point rate cuts over the next twelve months. The decline in mortgage rates has resulted in a surge in consumer refinance activity and lower borrowing costs will support corporate profitability. In addition, the decline in bond yields has contributed to improving financial conditions, a typical precursor to rising economic growth. However, capital spending is slowing on trade policy uncertainty and U.S. fiscal stimulus will fade heading into 2020. A U.S.-China trade deal remains a key binary risk (downside and upside) as does a potential no-deal Brexit. Given mounting global macro uncertainties and the strong year-to-date performance of U.S. equities, which has been driven mainly by price-to-earnings multiple expansion, we continue to shift portfolio composition toward high-quality growth stocks with visible earnings progression and secular drivers, but also continue to add opportunistically to select pro-cyclical growth stocks with compelling risk-reward profiles.

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.