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.

Market Commentary

September 9, 2021

Equity investors climbed the so-called “wall of worry” to propel stock markets higher again in August, with the S&P 500 Index posting its best month since April. With the 10-year Treasury yield closing the month at +1.30 percent, the “there-is-no-alternative” effect continues to buoy equity returns.

With financial markets awash in liquidity, equity investors have so far largely shrugged off gathering macro risks in anticipation of historically robust fourth-quarter equity market returns and a substantial federal spending package. However, persistent global supply constraints and associated cost increases could weigh on corporate earnings in the third and fourth quarters, dampening prospects for a typical year-end rally. The acceleration in Covid-19 infections globally, especially with China’s “zero-Covid” mandate, has intensified supply chain logjams and inflationary pressures.

We expect increased equity market volatility in the months ahead as investors discount gathering risks and uncertainties. As a result, we may hold slightly more cash in portfolios in the interim as a hedge against near-term downside risks and in anticipation of attractive buying opportunities. Technology remains a preferred sector given its solid relative earnings growth profile, and the healthcare sector is increasingly attractive for the same reason.

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