Sit Balanced Fund

The fund invests between 35% and 65% of its assets in common stocks and between 35% and 65% in fixed-income securities. The equity portion of the fund's portfolio is invested primarily in the common stocks of U.S. growth companies with a capitalization of $5 billion or more. The fixed-income portion of the fund's portfolio is invested primarily in a diversified portfolio of debt securities. The adviser seeks to maintain an average effective duration for the fixed-income portion of the fund's portfolio of 3 to 7 years.