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Rainier Mid Cap Equity Fund, Original Shares (RIMMX)
Rainier Mid Cap Equity Fund, Institutional Shares (RAIMX)
On June 1, 2017, the Board of Trustees of the Rainier Investment Management Mutual Funds approved a proposal that would reorganize the Rainier Mid Cap Equity Fund (“the Fund”) into the Hennessy Cornerstone Mid Cap 30 Fund. Hennessy Advisors, Inc. is the investment adviser of the Hennessy Cornerstone Mid Cap 30 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 Mid Cap 30 Fund.
Read more: Frequently Asked Questions
The Mid Cap Equity Fund seeks to maximize long-term capital appreciation. In pursuing its goal, the Fund invests primarily in the common stocks of mid-capitalization U.S. companies. The mid-capitalization company has a market capitalization, at the time of purchase, within the range of companies included in the Russell Midcap® Index. Highly speculative or illiquid stocks are not candidates for the Fund. To control risk, extreme overweighting or underweighting of the Fund relative to the Russell Midcap Index is normally avoided. The Fund will normally invest in approximately 75 to 125 companies.
Rainier employs a Growth at a Reasonable Price (GARP) investment philosophy in the management of its Mid Cap Equity ​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 12/27/2005 ​12/27/2005
Gross Expense Ratio 1.44% Gross                   1.35% Net* ​1.17% Gross                          1.10% Net*
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
 * Contractual fee waivers through 7/31/2018.
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. Small- and 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.  Diversification does not assure a profit or protect against loss in a declining market.
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 cap and current index membership. The Indices are not available for investment and do not incur charges or expenses.
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 800-280-6111 or by clicking here. Please read it carefully before investing.
Rainier Mutual Funds are distributed by Quasar Distributors, LLC.