, founder and chairman of Sit Investment Associates
, passed away on June 24, the company said on its Web site
. Sit, 69, had been diagnosed with pancreatic cancer.
His son, Roger Sit
, who serves as president, CEO and global chief investment officer, will continue to handle day-today management responsibilities at the firm.
Eugene Sit founded Sit Investment Associates in Minneapolis in 1981. That same year, the company formed its no-load mutual fund group. Sit Investment Associates currently manages 12 funds with AUM of $1.6 billion.
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