| The Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its assets in equity securities of large-capitalization growth companies. For purposes of the 80% policy, the Fund defines large-capitalization growth companies as companies with market capitalization that falls within the capitalization range of companies appearing in the Russell 1000® Growth Index and have sales or earnings growth rates within the range of sales or earnings growth rates of companies appearing in the Russell 1000® Growth Index during the past 12 months. For purposes of the 80% investment policy the term “assets” means net assets plus the amount of any borrowings for investment purposes. The market capitalizations of companies in the Russell 1000® Growth Index ranged from approximately $404 million to $5.5 trillion during the 12‑month period ended September 30, 2026. Sit Investment Associates, Inc. (the “Adviser”) invests in domestic growth-oriented companies it believes exhibit the potential for superior growth. The Fund focuses on stocks issued by companies with long records of earnings and revenue growth. The Adviser believes that a company’s earnings growth is the primary determinant of its potential long-term return and evaluates a company’s potential for above average long-term earnings and revenue growth. Several factors are considered in the Adviser’s evaluation of a company, including:
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unique product or service, |
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growing product demand, |
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dominant and growing market share, |
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management experience and capabilities, and |
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strong financial condition. | The Fund may invest in open‑end investment companies (mutual funds) and closed‑end investment companies which invest in the same types of securities in which the Fund may invest directly. When selling equity securities for the Fund, the Adviser considers several factors, including changes in a company’s fundamentals and anticipated earnings.
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