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Expense ratios are as stated in the prospectus dated January 1, 2022. Sit Investment Associates, Inc. (the “Adviser”) has agreed to a management fee waiver equal to 0.25% through June 30, 2023. Until such date, the waiver cannot be terminated without approval by the Fund’s Board of Directors. After June 30, 2023, the Adviser may elect to extend, modify or terminate the fee waiver.
Fund Objectives and Strategy
The Sit Global Dividend Growth Fund seeks current income that exceeds the dividend yield of the MSCI World Index® and grows over a period of years and long-term capital appreciation. To achieve its objectives, the Fund invests, under normal market conditions, at least 80% of its net assets in dividend-paying common stocks issued by U.S. and foreign companies. The Fund will invest significantly (at least 30% of its net assets) in companies outside the U.S. The Adviser believes that a company’s earnings growth is a primary determinant of its potential long-term return and that a record of increasing dividend payments is a strong indicator of financial health and growth prospects.
The Sit Mutual Funds’ investment adviser is Sit Investment Associates, Inc., an employee-owned firm founded in 1981 in Minneapolis, Minnesota and currently manages $15.2 billion (as of 12/31/22). The firm’s sole business is investment management.