Rainier International Discovery Fund, A Shares (RISAX)
Rainier International Discovery Fund, Institutional Shares (RAIIX)
On March 1, 2017, the Board of Trustees of the Rainier Investment Management Mutual Funds approved a proposal that would reorganize the Rainier International Discovery Fund (“the Fund”) into a newly created mutual fund under the Manning & Napier Fund, Inc. family of mutual funds. Rainier’s affiliate, Manning & Napier Advisors, LLC (“Manning”), would become the investment adviser for that new fund. Rainier Investment Management, LLC (“Rainier”) would become the sub-adviser of that new fund and would remain responsible for day-to-day portfolio management.
If shareholders of the Acquired Series approve the Reorganization, each owner of Class A and Institutional Class shares of the Acquired Series would become a shareholder of Class K and Class I shares, respectively, of the Surviving Series. Immediately after the closing of the Reorganization, each shareholder of the Acquired Series will hold shares of the Surviving Series having an aggregate value equal to the aggregate value of the shares of the Acquired Series held by that shareholder immediately prior to the Reorganization.
Proxy materials were mailed to shareholders of record on July 12, 2017(record date June 12, 2017) for the Shareholder meeting that will be held on August 11, 2017. If approved, the Reorganization is expected to be consummated on August 21, 2017, or such other date as the parties may agree.
Please click here for the proxy material which describes the proposed transaction in more detail and provides the reasons for the Board’s approval.
International Discovery Fund (RAIIX)
4-Star Morningstar Rating™ !
Overall rating out of 114 Foreign Small/Mid Growth funds as of 6-30-17.
The Overall Morningstar Rating is based on risk-adjusted returns derived from a weighted average of the Fund's 3-year Morningstar metrics.
The International Discovery Fund seeks to provide investors with long-term capital appreciation. In pursuing its goal, the Fund invests primarily in the common stock of small-capitalization companies traded outside the U.S. The Adviser selects investments which are either included in the MSCI ACWI ex. U.S.A. Small Cap Index or have equity capitalizations within the range of $5 billion or smaller at the time of purchase. Highly speculative or illiquid stocks are not candidates for the Fund. To control risk, extreme overweighting or underweighting of the Fund relative to the Index is normally avoided. To thoroughly diversify, the Fund consists of 60 to 120 different stocks, each making up a relatively small portion of the Fund.
We invest in dynamic, non-U.S., small cap growth companies at prices that allow for meaningful appreciation potential. We believe that rewarding stock performance comes from companies with superior growth potential, clear key earnings drivers, attractive valuations and trading liquidity. Our decisions are based on fundamental analysis, which emphasizes bottom up stock selection. We invest in all major regions and market sectors because we believe that excellent growth opportunities exist across countries and industries that are frequently overlooked.
The most current standardized performance can be viewed by clicking here.
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 800.248.6314.
Sharpe Ratio measures risk-adjusted performance. The Sharpe ratio is calculated by subtracting the risk-free rate from the rate of return for a portfolio and dividing the result by the standard deviation of the portfolio returns. Information ratio is the ratio of portfolio return above the returns of a benchmark.
Market capitalization is the total dollar market value of all company's outstanding shares. Alpha is the difference between the fair and actually expected rates of return on a stock. Correlation is a statistical measure that measures how two or more securities or investments move in relation to one another. Correlations range from -1 to +1, and can be used to measure how effective investments are as diversification tools when combined with one another in a portfolio. Return on Equity (ROE) is the amount of net income returned as a percentage of shareholders equity.
Available Investment Vehicles
||Mutual Fund - A Share
||Mutual Fund - Institutional|
||International Discovery Fund
||International Discovery Fund|
|Gross Expense Ratio
|Net Expense Ratio
|Minimum through Schwab and Fidelity