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Direct your investments

Sit ESG Growth Fund

to where standards matter.

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Direct your investments

Sit ESG Growth Fund

to where standards matter.

.

Direct your investments

Sit ESG Growth Fund

to where standards matter.

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Market Commentary
October 8, 2020

After five consecutive months of gains, stocks modestly corrected in September as several risks developed to include signs of a downshift in global growth, a rise in coronavirus cases, a worsening of U.S.-China relations, and elevated policy uncertainty. The pullback in tech stocks was unsurprising and overdue, with signs of froth emerging in many of the most popular momentum stocks. We remain constructive on stocks over the intermediate and long term yet are mindful of the array of risks and uncertainties that will keep markets volatile.

We expect the global economic recovery will be choppy post this initial bounce, with stocks following suit. We also anticipate participation in market gains will broaden beyond large-capitalization tech stocks as the pandemic comes under control and global economies normalize. Our investment focus remains on high quality, fundamentally solid companies that can deliver above-average earnings growth, regardless of the economic backdrop. Tech remains a preferred sector, but we are becoming increasingly selective due to valuation concerns. We also believe health care, transportation, and select financial stocks offer an attractive combination of low valuations and earnings upside in an improving economy.

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

Sit Mutual Funds will continue to operate at the highest level during this outbreak, and we invite you to contact us with questions or concerns. You can reach us at 800-332-5580 or email us at info@sitinvest.com.  We will continue to post updates about market and economic developments on our website at www.sitfunds.com.

Sit Investment Associates – Current Operations

During this disruption, we have three primary goals: 1) Do what we can to protect the health and well-being of our colleagues and their families, 2) Continue to research and actively manage investment portfolios pursuant to our client’s objectives, and 3) Serve our clients by staying focused on their long-term goals.

Operationally, we have implemented our work from home procedures to accommodate the need of certain colleagues to be at home and to do our part to support the virus mitigation efforts.  Our associates are returning to work in accordance with government health and safety guidelines.  We are fully operational – effectively making investment decisions, executing and settling trades, maintaining client account records, and communicating with clients.

Conditions are changing quickly, and it is possible that our receipt of mail through the United States Postal Service could at times be delayed.  We recommend that shareholders conduct transactions online at www.sitfunds.com and select the Account Access option under the Account Management drop-down menu at the top of the page.

Please call us if you have any questions.

Thank you for investing with Sit Investment Associates.

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