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 Hennessey Cornerstone Mid Cap 30 Fund. Hennessey Fund Advisors, Inc. is the investment adviser of the Hennessey Cornerstone Mid Cap 30 Fund.
Completion of the proposed reorganization is subject to approval by the shareholders of the Fund. The proposed reorganization would be a tax-free reorganization and, if approved by shareholders, could be completed during the third quarter of 2017. Proxy materials related to a special meeting of shareholders of the Fund are expected to be sent to shareholders in July/August 2017. Those materials will describe the proposed transaction in more detail and the reasons for the Board’s approval.
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
||1.37% Gross 1.35% Net*
||1.13% Gross 1.10% Net*|
|Minimum through Schwab and Fidelity