Sit Balanced Fund

Sit Balanced Fund

One Step Diversification

Find balance in diversification

Sit Balanced Fund

Sit Balanced Fund

One Step Diversification

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Ticker: SIBAX

Information reported as of March 31, 2018

Fund Details

Mid Cap Growth Details

Inception Date:	9/2/82
Fund Assets (Millions):	$158.8

Wtd. Avg. Market Cap (Billions):	$25.4
Median Market Cap (Billions):	$12.5

Ticker:	NBNGX
CUSIP:	829796‑10‑1
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	1.25%












Large Cap Growth Details

Inception Date:	9/2/82
Fund Assets (Millions):	$117.8

Wtd. Avg. Market Cap (Billions):	$227.4
Median Market Cap (Billions):	$79.1

Ticker:	SNIGX
CUSIP:	829797‑10‑9
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	1.00%












U.S. Government Securities Details

Fund Assets (Millions):	$527.7

Average Maturity:	18.7 Years
Effective Duration:	0.8 Years

Ticker:	SNGVX
CUSIP:	829800‑10‑1
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	0.80%













Tax-Free Income Details
Inception Date:	9/29/88
Fund Assets (Millions):	$196.0

Average Maturity:	17.2 Years
Duration to Est. Avg. Life:	4.2 Years

Ticker:	SNTIX
CUSIP:	829799‑10‑5
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	0.80%













International Growth Details
Inception Date:	11/1/91
Fund Assets (Millions):	$24.4

Wtd. Avg. Market Cap (Billions):	$85.8
Median Market Cap (Billions):	$43.7

Ticker:	SNGRX
CUSIP:	82980D‑10‑3
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	1.50%













Minnesota Tax-Free Income Details
Inception Date	12/1/93
Fund Assets	$551.2M

Average Maturity	15.9 Years
Duration (Avg. Life)	4.4 Years

Ticker	SMTFX
CUSIP	82979K‑10‑0

Minimum Investment	$5,000
Minimum IRA Investment	$2,000

Expense Ratio	0.80%











Balanced Details
Inception Date:	12/31/93
Fund Assets (Millions):	$28.3

Ticker:	SIBAX
CUSIP:	82980D‑20‑2
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	1.00%
















Small Cap Growth Details
Inception Date:	7/1/94
Fund Assets (Millions):	$96.4

Wtd. Avg. Market Cap (Billions):	N/A
Median Market Cap (Billions):	$4.9

Ticker:	SSMGX
CUSIP:	82980D‑30‑1
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	1.50%













Developing Markets Growth Details
Inception Date:	7/1/94
Fund Assets (Millions):	$11.7

Wtd. Avg. Market Cap (Billions):	$110.3
Median Market Cap (Billions):	$21.9

Ticker:	SDMGX
CUSIP:	82980D‑40‑0
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	1.40%













Dividend Growth Details
Inception Dates
I Class	12/31/03
S Class	3/31/06
Fund Assets
I Class	$949.3M
S Class	$53.9M
Tickers
I Class	SDVGX
S Class	SDVSX
CUSIP Numbers
I Class	82980D‑70‑7
S Class	82980D‑80‑6
Minimum Investment Amounts
I Class	$100,000
S Class	$5,000
Minimum IRA Investment Amount
I Class	$100,000
S Class	$2,000
Expense Ratios
I Class	0.70%
S Class	0.95%



Global Dividend Growth Details
Inception Dates
I Class	9/30/08
S Class	9/30/08
Fund Assets
I Class	$28.8M
S Class	$3.3M
Tickers
I Class	GDGIX
S Class	GDGSX
CUSIP Numbers
I Class	82980D‑88‑9
S Class	82980D‑87‑1
Minimum Investment Amounts
I Class	$100,000
S Class	$5,000
Minimum IRA Investment Amount
I Class	$100,000
S Class	$2,000
Expense Ratios
I Class	1.00%
S Class	1.25%



Quality Income Details
Inception Date:	12/31/12
Fund Assets (Millions):	$74.5

Average Maturity:	9.3 Years
Effective Duration:	0.9 Years

Ticker:	SQIFX
CUSIP:	82979K‑50‑6
Minimum Investment Amount:	$5,000
Minimum IRA Investment Amount:	$2,000
Expense Ratio:	0.90%













Small Cap Dividend Growth Details
Inception Dates	3/31/15
Fund Assets
I Class	$14.4M
S Class	$3.9M
Tickers
I Class	SSCDX
S Class	SDFSX
CUSIP Numbers
I Class	82980D‑86‑3
S Class	82980D‑85‑5
Minimum Investment Amounts
I Class	$100,000
S Class	$5,000
Minimum IRA Investment Amount
I Class	$100,000
S Class	$2,000
Expense Ratios
I Class	1.00%
S Class	1.25%





ESG Growth Details
Inception Dates	6/30/16
Fund Assets
I Class	$3M
S Class	$2.6M
Tickers
I Class	IESGX
S Class	SESGX
CUSIP Numbers
I Class	82980D‑84‑8
S Class	82980D‑83‑0
Minimum Investment Amounts
I Class	$100,000
S Class	$5,000
Minimum IRA Investment Amount
I Class	$100,000
S Class	$2,000
Expense Ratios
I Class	1.00%
S Class	1.25%























































Mid Cap Growth Returns

	Three Month
Sit Mid Cap Growth Fund	1.03
Russell Midcap^® Growth Index	2.17





Large Cap Growth Returns

	Three Month
Sit Large Cap Growth Fund	1.48
Russell 1000^® Growth Index	1.42





U.S. Government Securities Returns

	Three Month
Sit U.S. Government Securities Fund	-0.25
Bloomberg Barclays Intermediate Government Index	-0.73





Tax-Free Income Returns

	Three Month
Sit Tax-Free income Fund	-0.10
Bloomberg Barclays 5-Yr Municipal Bond Index	-0.57





International Growth Returns

	Three Month
Sit International Growth Fund	-1.73
Morgan Stanley EAFE Index	-1.53





Minnesota Tax-Free Income Returns

	Three Month
Sit MN Tax-Free Income Fund	-0.48
Bloomberg Barclays 5-yr Muni Bond Index	-0.57





Balanced Returns

	Three Month
Sit Balanced Fund	0.26
S&P 500^® Index	-0.76
Bloomberg Barclays Aggregate Bond Index	-1.46




Small Cap Growth Returns

	Three Month
Sit Small Cap Growth Fund	0.13
Russell 2000^® Growth Index	2.30





Developing Markets Growth Returns

	Three Month
Sit Developing Markets Growth Fund	4.36
MSCI Emerging Markets Index	1.07





Dividend Growth Returns

	Three Month
Sit Dividend Growth Fund Class I	-1.31
S&P 500^® Index	-0.76
Sit Dividend Growth Fund Class S	-1.37
S&P 500^® Index	-0.76



Global Dividend Returns

	Three Month
Sit Global Dividend Growth Fund Class I	-3.89
Sit Global Dividend Growth Fund Class S	-3.96
Composite Index	-1.28




Quality Income Returns

	Three Month
Sit Quality Income Fund	-0.13
Bloomberg Barclays U.S. 1-3 Year Gov't/Credit Index	-0.20





Small Cap Dividend Growth Returns

	Three Month
Sit Small Cap Dividend Growth Fund Class I	-3.54
Sit Small Cap Dividend Growth Fund Class S	-3.62
Russell 2000^® Index	-0.08




ESG Growth Returns
	Three Month
Sit ESG Growth Fund Class I	-2.24
Sit ESG Growth Fund Class S	-2.33
MSCI World Index	-1.28





Mid Cap Growth Sectors
	19.3
	14.0
	10.9
	9.6
	7.3
	6.8
	5.3
	4.8
	20.4
	1.6









Large Cap Growth Sectors
	26.6
	14.5
	9.2
	8.2
	8.1
	6.7
	6.7
	4.3
	14.7
	1.0









U.S. Government Securities Sectors
	51.3
	19.7
	13.1
	7.8
	3.3
	1.6
	1.0
	2.2











Tax-Free Income Sectors
	23.7
	23.1
	9.1
	6.3
	6.3
	6.2
	4.6
	3.9
	10.1
	6.7









International Growth Sectors
	20.6
	11.8
	11.4
	7.3
	6.2
	5.7
	5.6
	5.0
	23.4
	3.0









Minnesota Tax-Free Income Sectors
	20.1
	16.3
	15.9
	13.3
	6.5
	6.0
	5.2
	4.5
	8.9
	3.3









Balanced Sectors
	60.7
	34.8
	4.5
















Small Cap Growth Sectors
	16.3
	13.4
	9.5
	9.0
	8.8
	7.6
	6.3
	5.1
	21.0
	3.0









Developing Markets Growth Sectors
	20.0
	14.9
	13.3
	7.9
	7.9
	6.9
	5.4
	4.4
	16.7
	2.6









Dividend Growth Sectors
	16.1
	12.7
	10.6
	10.3
	7.0
	6.9
	5.2
	4.9
	25.4
	0.9









Global Dividend Growth Sectors
	23.3
	10.1
	8.9
	8.7
	8.4
	6.9
	6.0
	4.7
	20.5
	2.5









Quality Income Sectors
	29.8
	19.6
	17.0
	13.8
	10.0
	5.2
	2.9
	1.7











Small Cap Dividend Growth Sectors
	23.2
	10.4
	8.2
	7.8
	5.9
	5.8
	5.7
	4.5
	24.1
	4.4









ESG Growth Sectors
	20.0
	10.3
	9.4
	9.3
	9.0
	7.8
	5.2
	4.9
	21.0
	3.1

Average Annual Returns (%)

Performance figures are historical and do not guarantee future results. Investment returns and principal value will vary, and you may have a gain or loss when you sell shares. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available. Returns include changes in share price as well as reinvestment of all dividends and capital gains. Returns do not reflect the deduction of the 2% redemption fee imposed when shares are redeemed or exchanged within 30 calendar days from their date of purchase. If imposed, the fee would reduce the performance quoted. Returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Management fees and administrative expenses are included in the Fund’s performance. Returns for periods greater than one year are compounded average annual rates of return.

Fund Objectives and Strategy

The Sit Balanced Fund seeks long-term growth consistent with preservation of principal and to provide regular income to shareholders by investing in a diversified portfolio of stocks and bonds. In seeking to achieve its long-term capital growth objective, the Fund invests in common stocks of growth companies. To provide shareholders with regular income, the Fund invests in fixed-income securities and/or common stocks selected primarily for their dividend payment potential.

Risk-Reward Profile

The Sit Balanced Fund has moderate risk and moderate reward potentials.

Investment Style

The Fund invests in large cap growth stocks and high quality, intermediate-duration bonds.

Investment Adviser

The Sit Mutual Funds’ investment adviser is Sit Investment Associates, Inc., an employee-owned firm founded in 1981 in Minneapolis, Minnesota and currently manages $13.8 billion (as of 3/31/18). The firm’s sole business is investment management.

Portfolio Management

Roger J. Sit

Bryce A. Doty

Ronald D. Sit

Notes

Performance listed above is current to the most recent quarter-end. Performance data current to the most recent month-end can be found on the Performance Summary page.

Mutual fund investing involves risk; principal loss is possible. There is no guarantee the Fund’s investment objectives will be achieved, and the market value of securities held by the Fund may fall or fail to rise. The Fund’s focus on growth stocks may cause the Fund’s performance at times to be better or worse than the performance of funds that focus on other types of stocks or that have a broader investment style. An increase in interest rates may lower the value of the fixed-income securities held by the Fund. A decrease in interest rates may lower the income earned by the Fund. More information on these risks considerations, as well as information on other risks to which the Fund is subject, are included in the Fund’s prospectus. The prospectus may be obtained by calling Sit Mutual Funds at 1-800-332-5580 or downloaded from this website. Read the prospectus carefully before investing. Investment return and principal value of an investment will fluctuate so that an investor’s shares when redeemed may be worth more or less than their original cost. Carefully consider the Fund’s investment objectives, risks, charges and expenses before investing.

Fund holdings, sector allocations (as % of market value) and portfolio characteristics may change at any time and are not investment recommendations. The S&P 500® Index is an unmanaged capitalization-weighted index that measures the performance of 500 widely held common stocks of large-cap companies. The Bloomberg Barclays Aggregate Bond Index is an unmanaged market value-weighted index which measures the performance of investment grade debt securities with maturities of at least one year. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. Indices are rebalanced monthly by market capitalization. It is not possible to invest directly in an index.