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Home > Financial Services > Mutual Funds > Sit
Sit
Sit Investment Associates, Inc. was established in July, 1981 in Minneapolis by Eugene C. Sit, based on a background of 20 years of investment management experience, including both Mutual Funds and tax-exempt portfolios. The firm commenced operation with in excess of $1 million in working capital, 4 senior investment professionals, and a full support staff. In its 3rd year of operation, assets under management passed the $1 billion mark and in its 19th year exceeded $10 billion. The company believes that they are one of the largest independently owned minority investment firms in the U.S. The firm's current staff is in excess of 70 persons including 25 full-time investment professionals.
Sit Balanced seeks long-term capital growth and current income consistent with preservation of capital. The fund normally allocates its assets within the following parameters; 35 percent to 65 percent in equities and 35 percent to 65 percent in fixed-income securities. It may not invest more than 20 percent of assets in fixed-income securities rated below BBB; the fund attempts to maintain an average credit quality of at least A. The average maturity of the fund's fixed-income portfolio generally varies between three and 30 years. The fund may invest up to 20 percent of assets in U.S. dollar-denominated foreign equities.
Sit Developing Markets Growth Fund seeks long-term capital appreciation. The fund normally invests at least 65 percent of assets in equity securities of companies domiciled in developing countries. It may invest the balance of assets in equity and debt securities traded in either emerging or developed markets. The fund may invest in sponsered and unsponsered ADRs, EDRs, and GDRs. It may not invest more than 5 percent of assets in debt rated below BBB.
Sit International Growth Fund seeks long-term growth of capital. The fund normally invests at least 90 percent of assets in foreign equities. These securities may include common stocks, preferred stocks, warrants, and convertibles. The fund may also invest in both American and European depositary receipts. All debt securities in which the fund invests must be rated AA or better.
Sit Investment Associates formed Sit Mutual Funds. Currently there are 13 Funds, which may be combined in a variety of mixes to satisfy the specific investment objectives of individual investors as well as institutional accounts such as corporate foundations and organizations, and employee savings and profit sharing plans.
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