|Average Maturity:||19.2 Years|
|Duration to Est. Avg. Life:||5.7 Years|
|Minimum Investment Amounts|
|Minimum IRA Investment Amount|
Expense ratios are as stated in the prospectus dated August 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.
Fund Objectives and Strategy
The Sit Tax-Free Income Fund objective is high current income that is exempt from federal income tax consistent with preservation of capital. The Fund seeks to achieve its objective by investing primarily in municipal securities that generate interest income that is exempt from both federal regular income tax and federal alternative minimum tax. In selecting securities for the Fund, the Adviser seeks securities providing high tax-exempt income. The Adviser attempts to maintain an average effective duration for the portfolio of approximately 3 to 8 years.
The Sit Mutual Funds’ investment adviser is Sit Investment Associates, Inc. It is an employee-owned firm founded in 1981 in Minneapolis, Minnesota and currently manages $15.2 billion (as of 6/30/23). The firm’s sole business is investment management.