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

May 8, 2019

Robust U.S. GDP growth and better-than-expected corporate profits for the first calendar quarter helped propel the S&P 500 Index to an all-time high in April, with bottom-up earnings for the S&P 500 up +0.6 percent year over year versus expectation of -2.9 percent. Equity returns were positive in the month, with the S&P 500 Index and MSCI World Index generating returns of +4.05 percent and +3.55 percent, respectively, in April. Fixed income returns were also positive in the month. Better-than-expected growth was driven largely by gains in private inventories and net exports, two of the more volatile components of GDP. While GDP growth will likely moderate toward trendline of +2.2 percent exiting 2019 as the direct impacts of fiscal stimulus diminish, we believe this “Goldilocks” economic expansion can continue into 2020/2021. The year-to-date drop in personal consumption expenditure (PCE) price inflation to levels comfortably below the Federal Reserve’s target of +2.0 percent has contributed to rising market expectation for an interest rate cut as “insurance” against the risk of a potential hard landing in the economy. Despite strong year-to-date performance, the outlook remains constructive for equities over the intermediate term. However, elevated valuation, lingering macro uncertainty, and rising geopolitical risks (i.e., U.S.-China trade deal, Iran, Venezuela, North Korea, etc.) highlight the importance of diversified portfolios focused on quality growth stocks. Interest rates increased during April and the yield curve steepened as the combination of continued strength in the economy, better than expected corporate earnings, and accommodative Fed policy resulted in a partial reversal to the first quarter’s bond market rally. Overall, we expect yields to be relatively stable, gradually rising in conjunction with a re-steepening of the yield curve over the next few months as the economy recovers from the first quarter’s global slow patch.

For more details, including a longer discussion of the significance of an inverted yield curve, please see Sit Investment Associates’ April 2019 Global Investment Outlook and Strategy paper. Click here: Global Outlook and Strategy (Adobe Acrobat) or e-mail us at: siainfo@sitinvest.com.

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February 20, 2019

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.

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.