Sit Developing Markets Growth Fund
Fund
SDMGX
Price as of:
$18.23
+ $0.10
+ 0.55%
Primary Theme
fund company
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
15.5%
1 yr return
23.5%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
3.6%
Net Assets
$9.11 M
Holdings in Top 10
51.4%
52 WEEK LOW AND HIGH
$18.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.04%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 7.52%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$5,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
SDMGX - Profile
Distributions
- YTD Total Return 15.5%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.05%
- Dividend Yield 1.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameSit Developing Markets Growth Fund
-
Fund Family NameSIT Mutual Funds
-
Inception DateApr 26, 1995
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRaymond Sit
Fund Description
The Fund seeks to achieve its objective by investing, under normal market conditions, at least 80% of its net assets in common stocks of companies domiciled or operating in a developing market.
Developing markets are those countries that:
| › | have emerging stock markets as defined by the International Finance Corporation, |
| › | have low‑to middle-income economies according to the World Bank, or |
| › | have similar developing characteristics, for example, countries in the MSCI EM Index and Hong Kong are considered to be developing. |
As of September 30, 2024, the Fund held investments in Argentina, Australia, Brazil, Chile, China, Hong Kong, India, Indonesia, Israel, Mexico, Netherlands, Peru, South Africa, South Korea, Singapore, Taiwan, Thailand, and United States.
In selecting investments for the Fund, the Adviser begins by selecting countries or regions in which to invest. In making its selections, the Adviser considers several factors affecting the economy and equity market of foreign countries and regions, including:
| › | economic trends, |
| › | earnings outlook, |
| › | liquidity within the market, |
| › | fiscal and monetary policy, |
| › | currency exchange rate expectations, |
| › | investment valuation, |
| › | market sentiment, and |
| › | social and political trends. |
After the country and regional allocations are determined, the Adviser seeks industries and sectors that appear to have strong earnings growth prospects. Within the selected industries and sectors, the Adviser invests in foreign growth-oriented companies it believes exhibit the potential for superior 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:
| › | unique product or service, |
| › | growing product demand, |
| › | regional or country dominance and growing market share, |
| › | management experience and capabilities, and |
| › | strong financial condition. |
When selling equity securities for the Fund, the Adviser considers several factors, including changes in a company’s fundamentals and anticipated earnings.
The Fund invests in small, medium and large sized companies. Small companies generally have capitalizations of under $3.0 billion, and large companies generally have a capitalization greater than $5 billion. The Fund may invest in securities representing underlying international securities such as sponsored American Depository Receipts, European Depository Receipts and Global Depository Receipts.
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.
In order to hedge against adverse movements in currency exchange rates, the Fund may from time to time enter into forward foreign currency exchange contracts.
SDMGX - Performance
Return Ranking - Trailing
| Period | SDMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.5% | -12.2% | 31.8% | 13.10% |
| 1 Yr | 23.5% | -5.3% | 42.6% | 13.80% |
| 3 Yr | -0.3%* | -13.4% | 11.6% | 29.09% |
| 5 Yr | 3.6%* | -5.2% | 11.4% | 46.85% |
| 10 Yr | 3.4%* | -2.2% | 6.6% | 45.86% |
* Annualized
Return Ranking - Calendar
| Period | SDMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.1% | -6.5% | 35.5% | 84.15% |
| 2022 | -19.2% | -50.1% | -2.4% | 13.89% |
| 2021 | -10.8% | -33.1% | 22.5% | 73.51% |
| 2020 | 22.8% | -22.1% | 80.1% | 32.48% |
| 2019 | 17.7% | -0.7% | 42.0% | 53.97% |
Total Return Ranking - Trailing
| Period | SDMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.5% | -12.2% | 31.8% | 13.10% |
| 1 Yr | 23.5% | -5.3% | 42.6% | 13.80% |
| 3 Yr | -0.3%* | -13.4% | 11.6% | 29.09% |
| 5 Yr | 3.6%* | -5.2% | 11.4% | 46.85% |
| 10 Yr | 3.4%* | -2.2% | 6.6% | 45.86% |
* Annualized
Total Return Ranking - Calendar
| Period | SDMGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.3% | -2.7% | 42.0% | 80.08% |
| 2022 | -17.2% | -42.2% | 1.9% | 17.37% |
| 2021 | -8.9% | -32.5% | 33.1% | 88.36% |
| 2020 | 23.1% | -20.0% | 81.6% | 33.60% |
| 2019 | 19.8% | 2.3% | 42.0% | 56.79% |
NAV & Total Return History
SDMGX - Holdings
Concentration Analysis
| SDMGX | Category Low | Category High | SDMGX % Rank | |
|---|---|---|---|---|
| Net Assets | 9.11 M | 682 K | 103 B | 96.08% |
| Number of Holdings | 51 | 9 | 7534 | 91.04% |
| Net Assets in Top 10 | 4.65 M | 290 K | 23.8 B | 94.26% |
| Weighting of Top 10 | 51.36% | 2.9% | 101.1% | 4.21% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 12.31%
- Samsung Electronics Co Ltd 7.14%
- Broadcom Inc 6.29%
- iShares MSCI India ETF 6.00%
- Tencent Holdings Ltd 4.31%
- DBS Group Holdings Ltd 3.52%
- HDFC Bank Ltd 3.11%
- Naspers Ltd 3.08%
- Southern Copper Corp 2.85%
- FIDELITY GOVERNMENT PORT-I 2.74%
Asset Allocation
| Weighting | Return Low | Return High | SDMGX % Rank | |
|---|---|---|---|---|
| Stocks | 96.60% | 0.00% | 107.82% | 61.62% |
| Cash | 2.74% | -2.03% | 98.08% | 30.11% |
| Preferred Stocks | 0.74% | 0.00% | 13.31% | 45.38% |
| Other | 0.00% | -1.11% | 26.93% | 91.74% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | 94.64% |
| Bonds | 0.00% | 0.00% | 88.10% | 94.82% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SDMGX % Rank | |
|---|---|---|---|---|
| Technology | 29.71% | 0.00% | 47.50% | 12.20% |
| Financial Services | 22.27% | 0.00% | 48.86% | 47.66% |
| Communication Services | 11.75% | 0.00% | 39.29% | 16.74% |
| Consumer Cyclical | 10.29% | 0.00% | 48.94% | 76.74% |
| Consumer Defense | 8.27% | 0.00% | 25.90% | 26.81% |
| Basic Materials | 7.50% | 0.00% | 30.03% | 55.89% |
| Healthcare | 3.68% | 0.00% | 16.53% | 56.17% |
| Utilities | 3.03% | 0.00% | 39.12% | 20.00% |
| Industrials | 2.23% | 0.00% | 43.53% | 93.62% |
| Energy | 1.24% | 0.00% | 24.80% | 84.26% |
| Real Estate | 0.03% | 0.00% | 17.15% | 83.55% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SDMGX % Rank | |
|---|---|---|---|---|
| Non US | 61.30% | 0.00% | 100.18% | 95.52% |
| US | 35.30% | 0.00% | 100.95% | 3.92% |
SDMGX - Expenses
Operational Fees
| SDMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.04% | 0.03% | 29.98% | 19.94% |
| Management Fee | 2.00% | 0.00% | 2.00% | 100.00% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
| SDMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| SDMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 82.76% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| SDMGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 7.52% | 0.00% | 189.00% | 3.10% |
SDMGX - Distributions
Dividend Yield Analysis
| SDMGX | Category Low | Category High | SDMGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.31% | 0.00% | 9.74% | 43.84% |
Dividend Distribution Analysis
| SDMGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| SDMGX | Category Low | Category High | SDMGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.05% | -1.98% | 17.62% | 75.29% |
Capital Gain Distribution Analysis
| SDMGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 14, 2023 | $0.238 | OrdinaryDividend |
| Dec 14, 2023 | $0.083 | CapitalGainLongTerm |
| Dec 15, 2022 | $0.366 | OrdinaryDividend |
| Dec 16, 2021 | $0.396 | OrdinaryDividend |
| Dec 17, 2020 | $0.054 | OrdinaryDividend |
| Dec 19, 2019 | $0.296 | OrdinaryDividend |
| Dec 19, 2018 | $0.164 | CapitalGainLongTerm |
| Dec 19, 2018 | $0.078 | OrdinaryDividend |
| Dec 19, 2017 | $0.249 | CapitalGainLongTerm |
| Dec 15, 2016 | $0.033 | OrdinaryDividend |
| Dec 17, 2015 | $0.350 | CapitalGainLongTerm |
| Dec 17, 2015 | $0.020 | OrdinaryDividend |
| Dec 18, 2014 | $1.333 | CapitalGainLongTerm |
| Dec 18, 2013 | $0.952 | CapitalGainLongTerm |
| Dec 18, 2013 | $0.026 | OrdinaryDividend |
| Dec 19, 2012 | $1.424 | CapitalGainLongTerm |
| Dec 19, 2012 | $0.058 | OrdinaryDividend |
| Dec 16, 2011 | $0.002 | CapitalGainShortTerm |
| Dec 16, 2011 | $1.648 | CapitalGainLongTerm |
| Dec 16, 2011 | $0.062 | OrdinaryDividend |
| Dec 17, 2010 | $0.666 | CapitalGainLongTerm |
| Dec 17, 2010 | $0.015 | OrdinaryDividend |
| Dec 18, 2009 | $0.044 | OrdinaryDividend |
| Dec 19, 2008 | $0.824 | CapitalGainLongTerm |
| Dec 18, 2007 | $0.268 | CapitalGainLongTerm |
| Dec 18, 2007 | $0.039 | OrdinaryDividend |
| Dec 15, 2006 | $0.047 | OrdinaryDividend |
| Dec 15, 2005 | $0.055 | OrdinaryDividend |
| Dec 15, 2004 | $0.016 | OrdinaryDividend |
| Dec 09, 2003 | $0.055 | OrdinaryDividend |
| Dec 11, 2001 | $0.001 | OrdinaryDividend |
| Dec 08, 1998 | $0.024 | OrdinaryDividend |
| Dec 16, 1997 | $0.011 | OrdinaryDividend |
| Dec 12, 1996 | $0.001 | OrdinaryDividend |
| Dec 12, 1996 | $0.011 | CapitalGainShortTerm |
SDMGX - Fund Manager Analysis
Managers
Raymond Sit
Start Date
Tenure
Tenure Rank
Aug 03, 1994
27.84
27.8%
Raymond E. Sit, Vice President – Research and Investment Management of the Sit Investment Associates, Inc.
Roger Sit
Start Date
Tenure
Tenure Rank
Dec 01, 1997
24.51
24.5%
Roger J. Sit – CEO and Global Chief Investment Officer Roger Sit directs investment management activities for Sit Investment Associates, a diverse financial asset management firm with capabilities in both domestic and international investment products. Roger joined the organization in January 1998 and worked closely with firm founder Gene Sit for over ten years. Prior to joining the firm, Roger was a Vice President and Senior Equity Research Analyst at Goldman Sachs & Co. in New York for seven years. Additionally, he was a Captain in the U.S. Air Force, serving six years active duty with financial management responsibilities at Headquarters Space Division. Roger graduated with Military Distinction from the U.S. Air Force Academy in 1984. He earned a M.S. in Systems Management from the University of Southern California in 1987 and an M.B.A. with honors from the Harvard Graduate School of Business in 1991. Roger serves on the boards of Convergent Capital, TCF Financial Corporation, the Minneapolis Institute of Arts and the McKnight Foundation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.66 | 13.42 |