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Distribution History
Gross Expense Ratio 1.44% which is the amount stated in the current prospectus.
Net Expense Ratio 1.35% which is the amount stated in the current prospectus.
Contractual fee waivers through 7/31/2018.
*Returns for periods one year and longer are annualized.
Performance data quoted represent past performance, which does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than quoted. Performance data current to the most recent month-end can be obtained by calling 800.280.6111.

Portfolio Characteristics

Rainier Russell Midcap
Number of Stocks 74 783
Median Market Cap $12.8 B
$14.1 B
Weighted Avg Mkt Cap. $10.3 B $12.6 B

Ten Largest Holdings (%)

9/30/2017 Rainier
A.O. Smith Corp. 2.8%
Western Alliance Bancorp. 2.3
Oshkosh Corp. ​2.3
​Teleflex Incorporated ​2.1
Quanta Services, Inc. ​2.0
Equinix, Inc. ​2.0
Waste Connections, Inc. ​1.9
Raymond James Financial, Inc. 1.9
Pinnacle Foods, Inc. ​1.9
Mohawk Industries, Inc. ​1.8


Rainier Russell Midcap
Price-to-Earnings Ratio 20.0x
1 yr Proj. EPS Growth 16.0%
PEG Ratio 1.25x

Sector Weightings (%)

9/30/2017 Rainier Russell Midcap
Information Technology 17.7% 15.7%
Health Care 10.8 9.9
Consumer Discretionary 12.4 14.2
Consumer Staples  3.5  4.0
​Energy  5.0  5.7
​Materials ​6.0 ​ 5.8
​Industrials ​18.9 13.9
Financials 16.0 14.5
Telecommunication Services  0.0  0.5
Utilities​ ​ 3.3 ​ 6.1
​Real Estate ​6.6 ​9.7
Mutual fund investing involves risk. Principal loss is possible. Medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. 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. An investor will indirectly bear the prinicpal risks and its share of the fees and expenses of the ETFs in which the fund invests. Projected EPS Growth is not a measure of the Fund's future performance.  Diversification does not assure a profit or protect against loss in a declining market.
The Fund's investment objectives, risks, 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 800-248-6314 or by clicking here. Please read it carefully before investing.
The Russell Midcap® Index is a subset of the Russell 1000 Index and includes approximately 800 of the smallest securities based on a combination of their market capitalization and their current index membership. The Russell Midcap® Growth Index measures the performance of those Russell Midcap companies with higher price-to-book ratios and higher forecasted growth values. The Indices are not available for investment and do not incur charges or expenses.
Fund holdings and sector weightings are subject to change at any time due to ongoing portfolio management. References to specific investments should not be construed as a recommendation by the Fund or the Advisor to buy or sell securities. The Median Market Cap represents the market capitalization of the stock which is the midpoint of the stocks in the portfolio or benchmark. Weighted Average Market Cap represents the average market capitalization of the portfolio or benchmark based on a dollar-weighted average. The Price to Earnings (P/E) Ratio reflects the multiple of earnings at which a stock sells. The P/E ratio above uses analyst consensus earnings for the next year as the measure of earnings. Earnings per share (EPS) is total earnings divided by the number of shares outstanding. 1 year projected EPS growth is the rate at which a consensus of analysts believes that EPS will grow in the next year. Projected EPS Growth is not a measure of the Fund's future performance. The PEG ratio is the forward P/E ratio divided by the projected EPS growth rate.
Source: Rainier Mid Cap Equity Fund and BNY Mellon Performance & Risk Analytics, LLC.
Rainier Funds are distributed by Quasar Distributors, LLC.