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Fund Name Changes: What You Need to Know
Effective November 1, 2026, Sit Mutual Funds will update the official names of three funds:
- Sit Small Cap Growth Fund is now Sit Opportunity Growth Fund
- Sit Small Cap Dividend Growth Fund is now Sit Opportunity Dividend Growth Fund
- Sit Mid Cap Growth Fund is now Sit Multi Cap Growth Fund
(the “Funds”)
To help address questions regarding this transition, we’ve put together a short Q&A outlining why these changes are occurring and what they mean to you.
Q: Why are the names changing now?
A: These adjustments are being made so that the Funds may continue utilizing the investment strategies which they have utilized since each Fund’s inception. The SEC amended Rule 35d-1 (the “Names Rule”) under the Investment Company Act of 1940. The Names Rule requires a fund to invest 80% of the value of the fund’s net assets in the manner suggested by the fund’s name (an “80% Policy”). With respect to the Funds, the market-capitalization descriptors “Small Cap” and “Mid Cap” are and will be subject to the Funds’ 80% Policy. In essence the change in the Names Rule requires compliance with the 80% test be measured not only at the time the fund invests as it does currently, but additionally each quarter. For the Funds, this change may have required it to sell securities that have increased in cap size since their purchase in order to meet the 80% Policy quarterly. By removing the words “Small” and “Mid” from the Funds’ names, the Funds may continue applying their investment strategies without change.
Q: Does this change the investment objective or strategy of the Funds?
A: No. The primary core growth objectives and portfolio management approach remain focused on delivering long-term capital appreciation. Changing the names allows the Funds to keep their strategies which have been applied since the inception of the Funds.
Q: Do shareholders need to take any action?
A: No action is required by shareholders. Existing share balances, account numbers, CUSIPs, and ticker symbols will remain unaffected. Shareholders will receive the updated prospectus detailing these changes after November 1st.
Market Commentary
October 8, 2026
On average, the stock market has traded sideways leading up to the midterms, and returns in September are historically the weakest of the year. Valuations in September came under increased pressure from a renewed surge in energy prices and soaring Treasury yields. As the quarter progressed, investors flocked to the perceived safety of AI infrastructure stocks, abandoning almost everything else, especially bond proxies and rate-sensitive stocks. Only 22 percent of S&P 500 constituents outperformed the broader index in September, down from 37 percent in August and 61 percent in July.
Equity portfolios remain well diversified, as the range of potential economic outcomes is exceptionally wide. We continue to favor companies with strong, sustainable earnings growth and valuations that can withstand higher-for-longer rates, while remaining cautious on consumer-oriented groups as inflation squeezes household budgets. Higher rates have sent investors back to large-cap technology and AI stocks, which are viewed as relatively insulated from rising rates and oil prices. We believe this crowding is creating opportunities elsewhere, notably in financials, industrials, and healthcare and, selectively, in small caps. A sustainable broadening likely requires confidence that rates and oil prices are nearing a peak, along with some resolution of the Iran conflict.
For our latest full Global Investment Outlook & Strategy Update, download the .pdf document.