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International Investing
Sit Developing Markets Growth Fund
Sit Global Dividend Growth Fund
Sit International Growth Fund
Sit Developing Markets Growth Fund
Ticker: SDMGX
Information reported as of September 30, 2024
Fund Details
| Inception Date: | 7/1/1994 |
| Fund Assets (Millions): | $10.1 |
| Wtd. Avg. Market Cap (Billions): | $222.5 |
| Median Market Cap (Billions): | $21.2 |
| Ticker: | SDMGX |
| CUSIP: | 82980D‑40‑0 |
| Minimum Investment Amount: | $5,000 |
| Minimum IRA Investment Amount: | $2,000 |
| Gross Expense Ratio: | 2.03% |
| Net Expense Ratio: | 0.98% |
Expense ratios are as stated in the prospectus dated November 1, 2023 and include Acquired Fund Fees and Expenses which represent fees and expenses incurred indirectly by the Fund as a result of its investment in shares of investment companies. Sit Investment Associates, Inc. (the “Adviser”) has agreed to a management fee waiver equal to 1.05% through June 30, 2025. Until such date, the waiver cannot be terminated without approval by the Fund’s Board of Directors. After June 30, 2025, the Adviser may elect to extend, modify or terminate the fee waiver. |
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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 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 Developing Markets Growth Fund seeks to maximize long-term capital appreciation by investing, under normal market conditions, at least 80% of its net assets in common stocks of companies domiciled in a developing market. In selecting investments for the Fund, the Adviser selects countries or regions that exhibit positive economic trends, earnings outlook, liquidity within the market, fiscal and monetary policy, currency exchange rate expectations, investment valuation, market sentiment, and social and political trends. The Adviser seeks industries and sectors that appear to have strong earnings growth prospects. Within the selected industries and sectors, the Adviser invests in foreign growth-oriented companies it believes exhibit the potential for superior growth.
Risk-Reward Profile
The Sit Developing Markets Growth Fund has higher risk and higher reward potentials.
Investment Style
The Fund seeks to achieve its objective by investing, under normal market conditions, at least 80% of its net assets in common stocks of companies domiciled or operating in a developing market.
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 $16.6 billion. The firm’s sole business is investment management.
Portfolio Management
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. Stocks of small and medium sized companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies, and there may be limited liquidity for certain small cap stocks. 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. International investing involves certain risks and volatility due to potential political, economic or currency instabilities and different financial and accounting standards. Risks are enhanced for emerging market issuers. 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. MSCI Emerging Markets Index is an unmanaged free float-adjusted market captialization index that measures equity market performance of emerging markets. It is not possible to invest directly in an index. Weighted Average Market Cap is the average market capitalization of companies held by the Fund, weighted in proportion to their percentage of the Fund’s net assets.