Sit Investment Associates was founded, in Minneapolis, by Eugene C. Sit with $1 million in working capital and a total staff of eight. Currently, the firm's managed assets exceed $7 billion and its staff exceeds 70 persons. It is also one of the largest minority-owned advisory firms in the United States.
Sit Mutual Funds was also formed in 1981 with two 100% no-load mutual funds. Today, Sit Mutual Funds include 12 separate mutual funds with assets in excess of $1.6 billion.