AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 17, 1998
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _X_
(File No. 33-42101)
Post-Effective Amendment No. 15
AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 _X_
(File No. 811-6373)
Post-Effective Amendment No. 16
SIT MUTUAL FUNDS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
4600 Norwest Center, Minneapolis, Minnesota 55402
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(612) 332-3223
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
Paul E. Rasmussen, Vice President
Sit Mutual Funds
4600 Norwest Center
Minneapolis, Minnesota 55402
(NAME AND ADDRESS OF AGENT FOR SERVICE)
COPY TO:
Michael J. Radmer, Esq.
Dorsey & Whitney LLP
220 Pillsbury Center South
Minneapolis, Minnesota 55402
It is proposed that this filing will become effective (check appropriate box):
XX immediately upon filing pursuant to paragraph (b) of rule 485
___ on (specify date) pursuant to paragraph (b) of rule 485
___ 60 days after filing pursuant to paragraph (a)(1) of rule 485
___ on (specify date) pursuant to paragraph (a)(1) of rule 485
___ 75 days after filing pursuant to paragraph (a)(2) of rule 485
___ on (specify date) pursuant to paragraph (a)(2) of rule 485
If appropriate, check the following box:
___ this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
The Registrant has registered an indefinite number or amount of securities under
the Securities Act of 1933 pursuant to Rule 24f-2 under the Investment Company
Act of 1940. A Rule 24f-2 Notice for the Registrant's most recent fiscal year
was filed with the Securities and Exchange Commission on or about August 11,
1997.
<PAGE>
SIT MUTUAL FUNDS, INC.
FORM N-1A
CROSS-REFERENCE SHEET
<TABLE>
<CAPTION>
ITEM
NUMBER CAPTION PROSPECTUS CAPTION
- ------ ------- ------------------
<S> <C> <C>
1 Cover Page Inside Cover of Prospectus
2 Synopsis Prospectus Summary
3 Condensed Financial Information Not Applicable
4 General Description of Registrant Investment Objective and Investment Policies; Capitalization
and Voting Rights; Additional Information
5 Management of the Fund Summary of Fund Expenses; Custodian and Transfer Agent; Management;
Additional Information
6 Capital Stock and Other Dividend Reinvestment; Securities Exchanges; Capitalization
and Voting Rights; Taxes; Additional Information
7 Purchase of Securities Being How to Purchase Fund Shares; Exchanges; Retirement
Offered Accounts; Computation of Net Asset Value
8 Redemption or Repurchase Redemption of Fund Shares
9 Pending Legal Proceedings Not Applicable
10 Cover Page Cover Page of Statement of Additional Information
11 Table of Contents Table of Contents
12 General Information and History Not Applicable
13 Investment Objective and Policies Additional Investment Restrictions;
14 Management of the Fund Management; Investment Adviser
15 Control Persons and Principal Control Persons and Principal Holders of Securities
Holders of Securities
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ITEM
NUMBER CAPTION STATEMENT OF ADDITIONAL INFORMATION CAPTION
- ------ ------- -------------------------------------------
<S> <C> <C>
16 Investment Advisory and Other Investment Adviser
Services
17 Brokerage Allocation Brokerage
18 Capital Stock and Other Securities In Prospectus - Capitalization and Voting Rights
19 Purchase, Redemption and Pricing Computation of Net Asset Value
of Securities Being Offered
20 Tax Status Taxes
21 Underwriters Distributor
22 Calculation of Performance Data Calculation of Performance Data
23 Financial Statements Financial Statements
</TABLE>
<PAGE>
PART A
PROSPECTUS
The prospectus of the Registrant for Sit Science and Technology Growth
Fund (Series E) and Sit Regional Growth Fund (Series F) dated November 28, 1997,
as filed pursuant to Rule 485(b)(1)(ii) under the Securities Act of 1933 on
November 3, 1997, is hereby incorporated by reference to such filing with the
Securities and Exchange Commission.
<PAGE>
PART B
STATEMENT OF ADDITIONAL INFORMATION
The Statement of Additional Information of the Registrant for Sit
Science and Technology Growth Fund (Series E) and Sit Regional Growth Fund
(Series F) dated November 28, 1997, as filed pursuant to Rule 485(b)(1)(ii)
under the Securities Act of 1933 on November 3, 1997, is hereby incorporated by
reference to such filing with the Securities and Exchange Commission.
Financial Statements for the period ended March 31, 1998 for Series E
and Series F are attached in compliance with the undertaking to file an
amendment containing current financial statements for Series E and Series F
within four to six months from the November 28, 1997 effective date of such
Series' original public offering.
<PAGE>
SCIENCE AND TECHNOLOGY GROWTH FUND
MARCH 31, 1998
ASSETS
LT Investments @ Market 3,638,012.50
ST Securities
Cash 145,776.31
Rec - Fund shares Sold 5,300.00
Rec - Investments Sold
Rec - Dividends 902.16
Rec - Interest 326.31
Rec - NAV G/L (200.89)
-------------
Total Assets 3,790,116.39
LIABILITIES
Payable - Inv. Securities Purchased
Payable - Fund Shares Redeemed
Payable - Daily Expense 3,812.66
Payable - Misc
-------------
Total Liablilites 3,812.66
NET ASSETS 3,786,303.73
Shares Outstanding 339,187.674
NAV per share 11.16
- --------------------------------------------------------------------------------
CAPITAL
Cap Stock (Par + APIC) 3,412,158.44
Beg. Undistributed Net Inv Income
Beginning Undistributed Gains
-------------
Total Capital 3,412,158.44
NET INCOME (11/28/97 - 3/31/98) 374,145.29
-------------
NET CAPITAL 3,786,303.73
- --------------------------------------------------------------------------------
NOVEMBER 28, 1997 - MARCH 31, 1998
INCOME
Dividend Income 1,648.66
Interest Income 540.69
Balanced Credit Earned 226.43
Accretion on Investments 8,802.12
-------------
Total Income 11,217.90
GAIN OR LOSS
Short Short Gains 42,624.28
Short Term Gains
Short Term Losses (105,138.97)
Long Term Gains
Long Term Losses
UMGL Investments 435,235.82
Capital Gains - Distributed
-------------
Total Gain or Loss 372,721.13
EXPENSES
Amortization Expense
Daily Expense Accrual
Expense Advisory Fee (9,793.74)
-------------
Total Expenses (9,793.74)
NET INCOME 374,145.29
<PAGE>
SIT REGIONAL GROWTH FUND
MARCH 31, 1998
ASSETS
LT Investments @ Market 3,693,156.25
ST Securities
Cash 255,366.53
Rec - Fund shares Sold 4,528.00
Rec - Investments Sold
Rec - Dividends 2,427.00
Rec - NAV G/L 210.73
-------------
Total Assets 3,955,688.51
LIABILITIES
Payable - Inv. Securities Purchased
Payable - Fund Shares Redeemed
Payable - Daily Expense 3,190.02
Payable - Misc
-------------
Total Liablilites 3,190.02
NET ASSETS 3,952,498.49
Shares Outstanding 355,118.257
NAV per share 11.13
- --------------------------------------------------------------------------------
CAPITAL
Cap Stock (Par + APIC) 3,556,788.23
Beg. Undistributed Net Inv Income
Beginning Undistributed Gains
-------------
Total Capital 3,556,788.23
NET INCOME (11/28/97 - 3/31/98) 395,710.26
-------------
NET CAPITAL 3,952,498.49
- --------------------------------------------------------------------------------
NOVEMBER 28, 1997 - MARCH 31, 1998
INCOME
Dividend Income 6,563.00
Interest Income
Balanced Credit Earned 299.70
Accretion on Investments 9,322.92
-------------
Total Income 16,185.62
GAIN OR LOSS
Short Short Gains 31,897.59
Short Term Gains
Short Term Losses (26,594.66)
Long Term Gains
Long Term Losses
UMGL Investments 382,392.01
Capital Gains - Distributed
-------------
Total Gain or Loss 387,694.94
EXPENSES
Amortization Expense
Daily Expense Accrual
Expense Advisory Fee (8,170.30)
-------------
Total Expenses (8,170.30)
NET INCOME 395,710.26
<PAGE>
PART C
OTHER INFORMATION
Part C of the Registrant for Sit Science and Technology Growth Fund
(Series E) and Sit Regional Growth Fund (Series F) dated November 28, 1997, as
filed pursuant to Rule 485(b)(1)(ii) under the Securities Act of 1933 on
November 3, 1997, is hereby incorporated by reference to such filing with the
Securities and Exchange Commission.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant has duly caused this Registration
Statement on Form N-1A to be signed on its behalf by the undersigned, thereunder
duly authorized, in the City of Minneapolis, State of Minnesota, on the 17th day
of April, 1998.
SIT MUTUAL FUNDS, INC.
(Registrant)
By /s/ Eugene C. Sit
----------------------------------
Eugene C. Sit, Chairman
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment to the Registrant's Registration Statement has been
signed below by the following persons in the capacities and on the dates
indicated. All revisions reflected in the enclosed Amendment are stylistic or
otherwise, by themselves, would not have necessitated a Rule 485(a) filing. The
enclosed Amendment does not contain disclosures which would render it ineligible
to become effective pursuant to Rule 485(b).
Signature and Title
-------------------
/s/ Eugene C. Sit Dated: April 17, 1998
- -------------------------------------------
Eugene C. Sit Chairman
(Principal Executive Officer and Director)
/s/ Paul E. Rasmussen Dated: April 17, 1998
- -------------------------------------
Paul E. Rasmussen, Treasurer
(Principal Financial Officer and Accounting Officer)
William E. Frenzel, Director *
John E. Hulse, Director *
Sidney L. Jones, Director *
Peter L. Mitchelson, Director *
Donald W. Phillips, Director *
* By /s/ Eugene C. Sit Dated: April 17, 1998
-------------------------------------
Eugene C. Sit, Attorney-in-fact
(Pursuant to Powers of Attorney filed
previously with the Commission.)
