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|
|Gross Expense Ratio
||1.44% Gross 1.35% Net*
||1.17% Gross 1.10% Net*|
|Minimum through Schwab and Fidelity