Rainier Small/Mid Cap Equity Fund, Original Shares (RIMSX)
Rainier Small/Mid Cap Equity Fund, Institutional Shares (RAISX)
On June 1, 2017, the Board of Trustees of the Rainier Investment Management Mutual Funds approved a proposal that would reorganize the Rainier Small/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 December 26, 2017, shareholders of the Fund voted in favor of the reorganization. Effective Tuesday, January 16, 2018, based on closing Fund prices as Friday, January 12, 2018, shareholders of the Fund will become shareholders of the Hennessy Cornerstone Mid Cap 30 Fund.
Please click here for the Shareholder letter and proxy material, which describes the proposed transaction in more detail and the rationale for the Board’s approval.
The Small/Mid Cap Equity Fund seeks to provide investors with maximum long-term capital appreciation. Rainier selects investments which are either included in the Russell 2000®, 2500™ or Midcap® Index or have equity capitalizations within the ranges of these Indices at the time of purchase. Highly speculative or illiquid stocks are not candidates for the strategy. To control risk, extreme overweighting or underweighting of the strategy relative to the Russell 2500™ Index is normally avoided. To thoroughly diversify, the Fund consists of 75 to 150 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 its Small/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
|Minimum through Schwab and Fidelity