How to Sell Shares
Shareholders have easy access to their Sit Mutual Funds account holdings. Sale proceeds can be sent via check to the address of record or to an authorized bank*. Shares may be redeemed in the following ways:
- Call 800-332-5580 to request a redemption of shares—you must first enroll for the telephone redemption option on the initial application or with a Change of Account Information Form. Two ways to redeem via phone:
- Use the automated phone system (have your account number and social security number available to first establish a pass code)
- Bypass the automated phone system to speak to a representative by entering zero or saying “operator”
- Access your account at www.sitfunds.com, and click on the “Trading” tab. Maximum redemption online is $50,000 per Fund.
- Send a written request to Sit Mutual Funds signed by all account owners, which includes the Fund name and account number, and dollar amount or number of shares to redeem. IRA accounts need to complete an IRA Distribution Form.
NOTE: Sit Stock Funds, except the Balanced Fund, have an early redemption fee of 2% for shares redeemed less than 30 days after purchase.
*Banking instructions must first be established on the initial application or by completing the Change of Account Options Form or IRA Distribution Form. A Medallion Signature Guarantee is required for checks going to an address other than the address of record or to a different bank. Proceeds sent to a bank can be sent by ACH (free) or by wire (Sit Funds currently charges $8 for a wire; receiving bank may also charge a fee).
Sales proceeds will be paid as soon as possible — generally not later than 7 days from the date the request was received. However, if you purchased shares via nonguaranteed funds such as a personal check or ACH, then your sales proceeds payment may be delayed up to 10 days.