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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.

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Direct your investments

Sit ESG Growth Fund

to where standards matter.

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Market Commentary

June 8, 2022

We expect equities will remain volatile given the many uncertainties tied to inflation, monetary policy, global growth, geopolitical tensions, the midterm elections, supply disruptions, and Covid-19.  While we see a path to a soft landing given underlying economic strength and a resilient consumer, the Federal Reserve must thread a needle to slow demand without squashing job creation.  Still, futures discount a fairly aggressive tightening cycle, with an implied peak fed funds rate of +3.0 percent by April 2023.  In addition, the Fed will begin reducing its bloated balance sheet this month, adding another headwind to the economy and financial markets.  Nonetheless, there is gathering evidence that the year-over-year growth rate in inflation is peaking, which may provide the Fed room to maneuver more judiciously.

In terms of investment strategy, portfolios favor domestic exposure as the stronger trade-weighted U.S. dollar will pressure the earnings of multinational companies.  Moreover, now that valuations are more reasonable, we added to select positions in secular growth tech, especially within software and services, as earnings should prove resilient against a challenging economic backdrop.  Healthcare also remains a favored sector, given its inherent stability.  Finally, we incrementally increased energy exposure on pullbacks as we believe years of industry underinvestment, ongoing production restraint among U.S. producers, and increasingly limited capacity for OPEC+ to ramp production will support oil prices.

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

Sit Mutual Funds was the
Barron’s #1 fund family of 2021

In its 2022 annual Best Fund Families article, Barron’s named Sit Mutual Funds as the top fund family. Barron’s measured manager skill across five fund categories. The complete list of ranked fund families is available online.

2022 Investment Seminars

Sit Mutual Funds will be offering three different investment seminars this summer.  For content and date information please visit the 2022 Seminar page.

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Independence Day Holiday

Due to the close of the New York Stock Exchange on Monday, July 4th, transactions received after 3:00 p.m. Central Time on Friday, July 1st will be processed on Tuesday, July 5th. In observance of Independence Day, the Sit Mutual Funds offices will be closed on Monday, July 4th. Sit investor services representatives will resume taking calls on Tuesday, July 5th at 7:30 a.m. Central Time.