-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UwDtPVwyhxdaFZ25GFbHa9cWlYKTboIrAJYIDjxiODeVrDp60joK5v6pA3ZSsk2p 5NtDVloZC2bWxIJu8peNeA== 0000897101-04-000040.txt : 20040106 0000897101-04-000040.hdr.sgml : 20040106 20040106172836 ACCESSION NUMBER: 0000897101-04-000040 CONFORMED SUBMISSION TYPE: N-30D/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030630 FILED AS OF DATE: 20040106 EFFECTIVENESS DATE: 20040106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT LARGE CAP GROWTH FUND INC CENTRAL INDEX KEY: 0000356786 IRS NUMBER: 411414580 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-30D/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-03343 FILM NUMBER: 04511083 BUSINESS ADDRESS: STREET 1: 4600 NORWEST CENTER 90 S SEVENTH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-332-32 MAIL ADDRESS: STREET 1: 4600 NORWEST CENTER 90 SOUTH ST STREET 2: 4600 NORWEST CENTER 90 SOUTH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: SIT GROWTH & INCOME FUND INC DATE OF NAME CHANGE: 19940620 FORMER COMPANY: FORMER CONFORMED NAME: NEW BEGINNING GROWTH FUND INC/NEW DATE OF NAME CHANGE: 19870907 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT MID CAP GROWTH FUND INC CENTRAL INDEX KEY: 0000356787 IRS NUMBER: 411414580 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-30D/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-03342 FILM NUMBER: 04511080 BUSINESS ADDRESS: STREET 1: 4600 NORWEST CTR 90 S 17TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-332-32 MAIL ADDRESS: STREET 1: 4600 NORWEST CTR, 90 S 17TH ST STREET 2: 4600 NORWEST CTR, 90 S 17TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 FORMER COMPANY: FORMER CONFORMED NAME: SIT GROWTH FUND INC DATE OF NAME CHANGE: 19940620 FORMER COMPANY: FORMER CONFORMED NAME: SIT NEW BEGINNING GROWTH & INCOME FUND INC DATE OF NAME CHANGE: 19930923 FORMER COMPANY: FORMER CONFORMED NAME: NEW BEGINNING INCOME & GROWTH FUND INC DATE OF NAME CHANGE: 19870907 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT MUTUAL FUNDS INC CENTRAL INDEX KEY: 0000877880 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-30D/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-06373 FILM NUMBER: 04511082 BUSINESS ADDRESS: STREET 1: 4600 NORWEST CENTER STREET 2: 90 S SEVENTH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-332-32 MAIL ADDRESS: STREET 1: 4600 NORWEST CTR, 90 SOUTH SEVENTH ST STREET 2: 4600 NORWEST CTR, 90 SOUTH SEVENTH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 FORMER COMPANY: FORMER CONFORMED NAME: SIT NEW BEGINNING MUTUAL FUNDS INC DATE OF NAME CHANGE: 19920929 N-30D/A 1 sit-stock040041_n30da.txt - --------------------------------------------------------------------------[LOGO] Sit Mutual Funds Stock Funds ANNUAL REPORT SUPPLEMENT Sit Developing Markets Growth Fund The 1996 calendar year total return for the Sit Developing Markets Growth Fund was stated incorrectly in the June 30, 2003 Annual Report. The correct total return is 17.27%, and is stated in the table below. The following table replaces the Total Return - Calendar Year table on pages 4 and 5 of the report: TOTAL RETURN - CALENDAR YEAR 1991 1992 1993 - -------------------------------------------------------------------------------- SIT BALANCED -- -- -- - -------------------------------------------------------------------------------- SIT LARGE CAP GROWTH 32.72% 4.94% 3.15% - -------------------------------------------------------------------------------- SIT MID CAP GROWTH(1) 65.50 -2.14 8.55 - -------------------------------------------------------------------------------- SIT INTERNATIONAL GROWTH(2) 4.10(4) 2.69 48.37 - -------------------------------------------------------------------------------- SIT SMALL CAP GROWTH(1) -- -- -- - -------------------------------------------------------------------------------- SIT SCIENCE AND TECHNOLOGY GROWTH(3) -- -- -- - -------------------------------------------------------------------------------- SIT DEVELOPING MARKETS GROWTH(2) -- -- -- - -------------------------------------------------------------------------------- S&P 500 INDEX 30.46 7.64 10.07 S&P MIDCAP 400 INDEX 50.11 11.92 13.95 MSCI EAFE INDEX 0.26(5) -12.17 32.56 RUSSELL 2000 INDEX -- -- -- MSCI EMERGING MARKETS FREE INDEX -- -- -- NASDAQ SYMBOL INCEPTION ------ --------- SIT BALANCED SIBAX 12/31/93 - ---------------------------------------------------------------- SIT LARGE CAP GROWTH SNIGX 09/02/82 - ---------------------------------------------------------------- SIT MID CAP GROWTH NBNGX 09/02/82 - ---------------------------------------------------------------- SIT INTERNATIONAL GROWTH SNGRX 11/01/91 - ---------------------------------------------------------------- SIT SMALL CAP GROWTH SSMGX 07/01/94 - ---------------------------------------------------------------- SIT SCIENCE AND TECHNOLOGY GROWTH SISTX 12/31/97 - ---------------------------------------------------------------- SIT DEVELOPING MARKETS GROWTH SDMGX 07/01/94 - ---------------------------------------------------------------- S&P 500 INDEX(5) S&P MIDCAP 400 INDEX(5) MSCI EAFE INDEX(6) RUSSELL 2000 INDEX(7) MSCI EMERGING MARKETS FREE INDEX(8) (1) STOCKS OF SMALL- AND MID-SIZED COMPANIES MAY BE SUBJECT TO MORE ABRUPT OR ERRATIC MARKET MOVEMENTS THAN STOCKS OF LARGER, MORE ESTABLISHED COMPANIES. (2) INTERNATIONAL INVESTING HAS SPECIAL RISKS, SUCH AS CURRENCY EXCHANGE FLUCTUATIONS, HIGH VOLITILITY, ILLIQUIDITY AND THE POSSIBILITY OF POLITICAL INSTABILITY. (3) SINCE THE FUND FOCUSES ITS INVESTMENT ON COMPANIES INVOLVED IN THE TECHNOLOGY SECTOR, AN INVESTMENT IN THE FUND MAY INVOLVE A GREATER DEGREE OF RISK THAN AN INVESTMENT IN OTHER MUTUAL FUNDS WITH GREATER DIVERSIFICATION. (4) PERIOD FROM FUND INCEPTION THROUGH CALENDAR YEAR-END. 4 TOTAL RETURN - CALENDAR YEAR
YTD 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 - ------------------------------------------------------------------------------------------------------------------------------------ SIT BALANCED -0.33% 25.43% 15.80% 21.73% 21.30% 20.15% -4.80% -12.99% -18.59% 9.62% - ------------------------------------------------------------------------------------------------------------------------------------ SIT LARGE CAP GROWTH 2.83 31.66 23.05 31.70 30.56 33.41 -13.84 -27.70 -30.58 12.49 - ------------------------------------------------------------------------------------------------------------------------------------ SIT MID CAP GROWTH(1) -0.47 33.64 21.87 17.70 6.84 70.65 -4.35 -33.39 -34.64 18.01 - ------------------------------------------------------------------------------------------------------------------------------------ SIT INTERNATIONAL GROWTH(2) -2.99 9.36 10.31 4.81 18.95 50.77 -26.66 -33.26 -29.84 7.07 - ------------------------------------------------------------------------------------------------------------------------------------ SIT SMALL CAP GROWTH(1) 11.57(4) 52.16 14.97 7.63 1.97 108.63 6.25 -28.19 -26.22 16.34 - ------------------------------------------------------------------------------------------------------------------------------------ SIT SCIENCE AND TECHNOLOGY GROWTH(3) -- -- -- -- 38.40 85.98 -6.55 -47.78 -44.45 19.08 - ------------------------------------------------------------------------------------------------------------------------------------ SIT DEVELOPING MARKETS GROWTH(2) -2.02(4) -4.29 17.27 -5.20 -24.93 82.50 -30.18 -12.01 -18.37 14.21 - ------------------------------------------------------------------------------------------------------------------------------------ S&P 500 INDEX 1.32 37.58 22.96 33.36 28.58 21.04 -9.11 -11.88 -22.10 11.76 S&P MIDCAP 400 INDEX -3.60 30.94 19.19 32.29 19.11 14.72 17.50 -0.61 -14.52 12.41 MSCI EAFE INDEX 7.78 11.21 6.05 1.78 20.00 26.96 -14.17 -21.44 -15.94 9.47 RUSSELL 2000 INDEX 4.61 28.45 16.49 22.36 -2.54 21.26 -3.02 2.49 -20.48 17.88 MSCI EMERGING MARKETS FREE INDEX 2.80 -6.94 3.92 -13.40 -27.52 63.70 -31.80 -4.91 -7.97 13.90 AVERAGE ANNUAL TOTAL RETURNS FOR THE TOTAL RETURN PERIODS ENDED JUNE 30, 2003 QUARTER SIX MONTHS SINCE ENDED 6/30/03 ENDED 6/30/03 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION SIT BALANCED 9.72% 9.62% 4.43% 10.41% -1.26% -- 6.98% - ------------------------------------------------------------------------------------------------------------------------------------ SIT LARGE CAP GROWTH 14.50 12.49 1.97 -22.38 -7.22 6.77% 10.78 - ------------------------------------------------------------------------------------------------------------------------------------ SIT MID CAP GROWTH 16.81 18.01 1.90 -24.44 -4.41 6.42 13.09 - ------------------------------------------------------------------------------------------------------------------------------------ SIT INTERNATIONAL GROWTH 16.50 7.07 -12.97 -25.80 -10.65 0.65 2.16 - ------------------------------------------------------------------------------------------------------------------------------------ SIT SMALL CAP GROWTH 20.02 16.34 2.75 -18.95 5.55 -- 12.67 - ------------------------------------------------------------------------------------------------------------------------------------ SIT SCIENCE AND TECHNOLOGY GROWTH 19.61 19.08 7.05 -37.10 -6.73 -- -3.31 - ------------------------------------------------------------------------------------------------------------------------------------ SIT DEVELOPING MARKETS GROWTH 19.41 14.21 0.25 -15.44 -2.14 -- -2.21 - ------------------------------------------------------------------------------------------------------------------------------------ S&P 500 INDEX(5) 15.39 11.76 0.25 -11.20 -1.61 10.04 13.68 S&P MIDCAP 400 INDEX(5) 17.63 12.41 -0.71 0.99 7.14 12.65 16.03 MSCI EAFE INDEX(6) 19.27 9.47 -6.46 -13.52 -4.00 2.78 3.10 RUSSELL 2000 INDEX(7) 23.42 17.88 -1.64 -3.30 0.97 -- 8.64 MSCI EMERGING MARKETS FREE INDEX(8) 22.19 13.90 4.04 -9.28 0.13 -- -3.97
(5) FIGURES ASSUME AN INCEPTION DATE OF 09/02/82. (6) FIGURES ASSUME AN INCEPTION DATE OF 10/31/91. (7) FIGURES ASSUME AN INCEPTION DATE OF 07/01/94. (8) FIGURES ASSUME AN INCEPTION DATE OF 06/30/94. PERFORMANCE FIGURES ARE HISTORICAL AND DO NOT GUARANTEE FUTURE RESULTS. INVESTMENT RETURNS AND PRINCIPAL VALUE WILL VARY, AND YOU MAY HAVE A GAIN OR LOSS WHEN YOU SELL SHARES. AVERAGE ANNUAL TOTAL RETURNS INCLUDE CHANGES IN SHARE PRICE AS WELL AS REINVESTMENT OF ALL DIVIDENDS AND CAPITAL GAINS. 5 -----END PRIVACY-ENHANCED MESSAGE-----