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Sit ESG Growth Fund

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Global Investment Outlook and Strategy

October 9, 2018

Unorthodox, late-cycle fiscal stimulus and deregulation have countered the impact of measured monetary tightening – contributing to a notable acceleration in U.S. economic growth, with real GDP on pace to increase +3.0% in 2018.  Over the previous 5-year period, the compound annual growth rate was +2.2%.  Leading economic indicators suggest the economy will remain relatively robust heading into 2019, but we anticipate that GDP growth will moderate gradually to the low +2.0% range by the end of next year as the impact of fiscal stimulus fade, financial conditions tighten, and inflationary pressures mount.  Escalating trade tensions, diverging global growth prospects, rising interest rates, and an appreciating U.S. dollar risk are dampening the resurgence in domestic business optimism and capital investment.  Further, U.S. federal debt held by the public will balloon +37% to $20.3 trillion by year-end 2022, according to the Congressional Budget Office – possibly crowding out private investment.  Nevertheless, absent shocks, recession within the next 18 to 24 months appears unlikely as we anticipate many of the favorable underpinnings of the expansion will remain intact.

For more details, including a longer discussion of high growth stocks, please see the complete Sit Investment Associates’ October 2018 Global Investment Outlook and Strategy paper. Click here: Global Outlook and Strategy (Adobe Acrobat).

2019 Investment Seminars

Sit Mutual Funds will be offering three different investment seminars this winter.  For content and date information please visit the 2019 Seminar page.

2018 Capital Gain
Distribution Estimates

Mutual funds are required to distribute net realized capital gains and income each year. These distributions will be paid this year on December 19th (to shareholders of record on December 18th). This year’s distribution amount estimates are available by clicking here.

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Sit ESG Growth Fund

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