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Rainier Large Cap Equity Fund, Original Shares (RIMEX)
Rainier Large Cap Equity Fund, Institutional Shares (RAIEX)
On June 1, 2017, the Board of Trustees of the Rainier Investment Management Mutual Funds approved a proposal that would reorganize the Rainier Large Cap Equity Fund (“the Fund”) into the Hennessy Cornerstone Large Cap Growth Fund. Hennessy Advisors, Inc. is the investment adviser of the Hennessy Cornerstone Large Cap Growth Fund.
At a Special Meeting held on November 16, 2017, shareholders of the Fund voted in favor of the reorganization. Effective December 4, 2017, shareholders of the Fund became shareholders of the Hennessy Cornerstone Large Growth Fund.
The Large Cap Equity Fund seeks to maximize long-term capital appreciation. The Fund invests in a diversified portfolio of common stocks of U.S. companies. Rainier selects investments from companies of all sizes. Highly speculative or illiquid stocks are not candidates for the Fund. Risk control is an important element in the construction of the Fund. To control risk, extreme overweighting or underweighting of the Fund relative to the S&P 500® or Russell 1000® Index is normally avoided. To thoroughly diversify, the Fund consists of 50 to 100 different stocks, each making up a relatively small portion of the Fund.
Rainier employs a Growth at a Reasonable Price (GARP) investment philosophy in the management of the Fund. The GARP approach provides an opportunity to invest in companies with superior earnings growth whose equities are selling at attractive valuations. 

Available Investment Vehicles

Mutual Fund - Original ​Mutual Fund - Institutional
Inception Date 5/10/1994 ​5/2/2002
Gross Expense Ratio 1.29% 0.94%
Net Expense Ratio 1.29% ​0.94%
Sales Load N/A ​N/A
12b-1 Fees 0.25% ​0.00%
Minimum Investment $2,500 ​$100,000
Minimum through Schwab and Fidelity $2,500 ​$100,000
Mutual fund investing involves risk; principal loss is possible. Growth stocks typically are more volatile than value stocks; however, value stocks have a lower expected growth rate in earnings and sales. Investment in IPOs can be volatile and can fluctuate considerably.  IPOs can have a magnified impact on funds with a small asset base.  Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods.  Diversification does not assure profit or protect against loss in a declining market.
The Standard & Poors (S&P) 500® Index is an unmanaged index composed of 500 industrial, utility, transportation and financial companies of the U.S. markets. Russell 1000® Index includes those companies within the Russell 1000® Index that have higher price to book ratios and higher forecasted growth values. Index vendor sources may vary, resulting in slight variations in the index returns that are displayed in performance reporting for the Rainier Funds. The Indices are not available for investment and do not incur charges or expenses.
The Fund's investment objectives, risk, charges, and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company, and may be obtained by calling 1-800-280-6111 or by clicking here. Please read it carefully before investing.
Mutual Funds are distributed by Quasar Distributors, LLC.