Sit Minnesota Tax-Free Income Fund SMTFX

The investment seeks high current income that is exempt from federal regular income tax and Minnesota regular personal income tax consistent with preservation of capital. The fund seeks to achieve its objective by investing primarily in municipal securities that generate interest income that is exempt from regular federal income tax and Minnesota regular personal income tax. Under normal circumstances, it invests 100% (and, as a fundamental policy, no less than 80%) of its net assets in such tax‑exempt municipal securities plus the amount of any borrowings for investment purposes. It is non-diversified.