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.  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.  The Russell 2000® Growth Index is an unmanaged index that measures the performance of those Russell 2000® companies with higher price-to-book ratios and higher forecasted growth values.  Russell 2000® Index is an unmanaged index that measures the performance of the 2,000 smallest companies in the Russell 3000® Index, an index consisting of the 3,000 largest U.S. companies based on market capitalization. It is not possible to invest directly in an index.  Russell Investment Group is the owner of the registered trademarks, service marks and copyrights related to the Russell Indexes.  Russell® is a registered trademark of Russell Investment Group.