Rainier International Discovery Series

Disciplined Value Series Equity Series Overseas Series Rainier International Discovery Series Real Estate Series
Class I Class S Class Z Class W

An Underutilized and Misunderstood Asset Class

We believe that adding international small cap stocks to a broader portfolio may help dampen volatility and boost long-term performance.

 

See below for most recent performance.

Download the product spotlight to learn more about this underutilized, but opportunistic solution

Investment Objective

To provide investors with long-term capital appreciation by investing primarily in the common stock of small- to mid-capitalization companies located outside the U.S.

Investment Strategy

The Series is primarily invested in the common stock of small- and mid-capitalization companies traded outside the U.S. Rainier typically selects investments that fall within the market capitalization range of the MSCI ACWI ex USA Small Cap Index at the time of purchase. The Team will invest in any type of company whether it is in the index or not, as long as it is within the market cap range and fits the investment objectives. To control risk, extreme overweighting or underweighting of the Series relative to the Index is normally avoided.

Investment decisions are based on fundamental analysis, which emphasizes bottom-up stock selection of companies that exhibit strong growth, clear key earnings drivers and attractive valuations. The investment team evaluates companies across all sectors and regions using this growth and valuation criteria.

May be Appropriate for Investors

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of investing in foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

Daily Price

$27.91

Daily $ Change

-$0.08

Daily % Change

-0.29%

as of 11/25/2020

Ticker

RAIIX

CUSIP

56382R688

Inception Date

03/28/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Performance

As of 10/31/2020

As of
Month-End Quarter-End

YTD

17.56%

1 Year

25.88%

3 Year

7.85%

5 Year

10.15%

10 Year

---

Inception
(03/28/2012)

12.79%

For periods prior to 08/21/2017, performance for Class I is based on the historical performance of the Institutional Shares of the Rainier International Discovery Fund (Predecessor Fund), which was managed by Rainier Investment Management, LLC and reorganized into the Manning & Napier Fund, Inc. Rainier International Discovery Series Class I on 08/21/2017. Performance for the Class I shares will differ to the extent that the Predecessor Fund’s Institutional Shares had a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. 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 that quoted.

Expense Ratio

Gross 1.18%
Net 1.16%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund's Board of Directors.

Top Ten Investments

As of 10/31/2020

As of
Month-End Quarter-End
TECHTRONIC INDUSTRIES CO LTD 2.95%
TELEPERFORMANCE 2.56%
ROYAL UNIBREW 2.56%
EURONEXT NV 2.36%
NETCOMPANY GROUP AS 2.13%
SOLARIA ENERGIA Y MEDIO AMBI 1.91%
ARJO AB- B SHARES 1.87%
ALK-ABELLO A/S 1.81%
MIPS AB 1.60%
CORBION NV 1.58%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 10/31/2020

As of
Month-End Quarter-End
Communication Services 3.91%
Consumer Discretionary 8.56%
Consumer Staples 3.69%
Financials 11.76%
Health Care 13.99%
Industrials 26.21%
Information Technology 21.01%
Materials 3.04%
Real Estate 2.77%
Utilities 5.06%

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

Country Allocation

As of 10/31/2020

As of
Month-End Quarter-End
Japan 15.17%
Sweden 11.19%
United Kingdom 9.20%
Denmark 8.45%
Italy 5.90%
France 5.61%
Taiwan 4.87%
Netherlands 4.84%
Canada 4.48%
Germany 4.45%
Australia 3.94%
Hong Kong 2.95%
Finland 2.13%
Norway 2.03%
South Korea 1.99%
Spain 1.91%
China 1.47%
Belgium 1.36%
Indonesia 1.32%
India 1.28%
Austria 1.15%
Singapore 0.99%
Ireland 0.89%
Poland 0.58%
Greece 0.57%
Switzerland 0.49%
Philippines 0.40%
Iceland 0.39%
Thailand 0.00%

October Fund Holdings

As of 10/31/2020

October September August July
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0066701 AVON RUBBER PLC GB AVON LN 66,210 $3,372,810.91
0207458 GENUS PLC GB GNS LN 82,199 $4,368,461.01
0309644 ELECTROCOMPONENTS PLC GB ECM LN 858,529 $7,537,754.49
0405207 HALMA PLC GB HLMA LN 174,044 $5,341,012.17
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 590,890 $4,878,317.11
0946580 WEIR GROUP PLC/THE GB WEIR LN 162,875 $3,025,863.01
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 79,737 $3,607,136.08
2141941 DESCARTES SYSTEMS GRP/THE CA DSG CN 46,035 $2,468,468.36
262006208 DREYFUS GVT CSH MANAGEMENT US 14,551,742.33 $14,551,742.33
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 77,885 $4,849,178.68
4018786 CELLAVISION AB SE CEVI SS 67,320 $2,103,883.47
4196897 INGENICO GROUP FR ING FP 27,425 $3,943,027.71
4447476 HUHTAMAKI OYJ FI HUH1V FH 149,407 $7,298,139.30
5161407 INTERPUMP GROUP SPA IT IP IM 207,191 $7,825,884.20
5337093 ERG SPA IT ERG IM 257,696 $5,836,068.14
5473124 BIOGAIA AB-B SHS SE BIOGB SS 59,347 $2,816,162.28
5545670 JUNGHEINRICH AG DE JUN3 GR 103,710 $3,770,585.08
5720273 MLP SE DE MLP GR 782,131 $4,349,038.41
5999330 TELEPERFORMANCE FR TEP FP 42,823 $12,854,696.70
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 97,500 $2,915,110.00
6044109 ANRITSU CORP JP 6754 JP 252,600 $5,530,037.15
6200194 ITOCHU TECHNO-SOLUTIONS CORP JP 4739 JP 103,800 $3,521,663.71
6250025 DAIFUKU CO LTD JP 6383 JP 60,200 $6,207,694.38
6277927 CYBOZU INC JP 4776 JP 144,200 $4,161,045.36
6292782 PRO MEDICUS LTD AU PME AU 145,540 $3,322,072.54
6349354 SINBON ELECTRONICS CO LTD TW 3023 TT 586,000 $3,950,240.74
6357368 FUNAI SOKEN HOLDINGS INC JP 9757 JP 89,582 $1,937,782.48
6373632 PRESTIGE INTERNATIONAL INC JP 4290 JP 312,900 $2,662,717.75
6434562 NHN KCP CORP KR 114,070 $6,776,536.58
6541826 POYA INTERNATIONAL CO LTD TW 5904 TT 300,000 $6,479,522.09
6687571 NABTESCO CORP JP 6268 JP 186,000 $6,948,633.65
6869131 THK CO LTD JP 6481 JP 206,100 $5,470,906.62
7195824 REVENIO GROUP OYJ FI REG1V FH 82,147 $3,362,573.97
7243530 JUMBO SA GR 203,108 $2,846,820.85
7315440 FALCK RENEWABLES SPA IT FKR IM 812,156 $4,404,128.57
7399369 VIRBAC SA FR VIRP FP 19,775 $4,601,568.78
B00ZG06 NORDIC SEMICONDUCTOR ASA NO NOD NO 370,075 $3,892,660.63
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,098,500 $14,796,072.35
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 130,100 $4,031,561.71
B01JCK9 LI NING CO LTD CN 2331 HK 1,417,500 $7,387,925.53
B06G108 INVISIO COMMUNICATIONS AB DK IVSO SS 268,493 $4,830,619.31
B07SFG7 DOMINO'S PIZZA ENTERPRISES L AU DMP AU 59,440 $3,540,337.74
B0PCQR9 GENOVIS AB SE GENO SS 661,608 $2,063,215.37
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 27,066 $9,056,095.53
B1DN466 NIHON M&A CENTER INC JP 2127 JP 85,600 $5,026,568.17
B1WF979 NANOSONICS LTD AU NAN AU 367,315 $1,330,772.01
B1WT1L9 SWECO AB-B SHS SE SWECB SS 97,491 $4,905,759.88
B1YVKJ4 SOLARIA ENERGIA Y MEDIO AMBI ES SLR SM 492,239 $9,576,837.86
B234WN9 DIASORIN SPA IT DIA IM 17,927 $3,935,476.50
B281L72 FAGRON BE FAGR BB 306,908 $6,813,668.21
B28XLF6 HYPOPORT AG DE HYQ GR 5,191 $2,717,918.43
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 308,580 $5,563,380.32
B2PLYM1 SMS CO LTC JP 2175 JP 114,800 $3,379,957.35
B39Q399 KOH YOUNG TECHNOLOGY INC KR 45,175 $3,179,181.65
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 328,400 $3,468,975.54
B3ZMYK9 OSSUR HF IS OSSR DC 295,768 $1,948,940.42
B56LHP5 WIN SEMICONDUCTORS CORP TW 3105 TT 234,000 $2,552,776.37
B5LMKP4 NEXTDC LTD AU NXT AU 310,940 $2,784,105.24
B7FNMQ2 ELEMENT FLEET MANAGEMENT COR CA EFN CN 773,360 $7,284,896.80
B80VKP3 ASPEED TECHNOLOGY INC TW 5274 TT 93,000 $4,501,154.16
B86SZR5 ALS LTD AU ALQ AU 1,006,905 $6,662,910.10
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 103,471 $2,625,031.51
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 204,758 $4,647,701.12
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 201,498 $6,911,623.03
BBCR9N1 SIMCORP A/S DK SIM DC 41,777 $4,982,896.17
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 163,417 $4,479,730.17
BCDBLX3 SARANA MENARA NUSANTARA PT ID TOWR IJ 42,894,200 $2,872,515.85
BD0RYG5 VARUN BEVERAGES ltd IN VBL IN 316,825 $2,797,786.12
BD0YVN2 DINO POLSKA SA PL DNP PW 52,696 $2,897,196.38
BD45357 BYGGHEMMA GROUP FIRST AB SE BHG SS 388,492 $6,052,143.39
BDRXBF4 TFI INTERNATIONAL INC CA TFII CN 51,255 $2,282,103.58
BF0QD69 KATITAS CO LTD JP 8919 JP 149,400 $4,238,612.51
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,315,640 $9,351,594.67
BF25643 ARUHI CORP JP 7198 JP 318,210 $5,713,453.06
BF2CVV6 MIPS AB SE MIPS SS 186,980 $8,043,685.67
BFNBJ41 BANK TABUNGAN PENSIUNAN NASI ID BTPS IJ 14,913,209 $3,723,960.09
BFRSRR7 CORBION NV NL CRBN NA 174,428 $7,922,081.04
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 128,453 $10,684,096.76
BG0SJ42 ALFEN NV NL ALFEN NA 70,118 $4,480,954.80
BJ7WGS1 TEAMVIEWER AG DE TMV GR 58,422 $2,575,118.58
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 328,518 $6,257,058.74
BKF1B60 MINOR INTER WT EX 09/30/21 TH 193,920 $1,490.44
BKLFVR7 FREEE KK JP 4478 JP 47,900 $3,748,120.23
BKMFJ94 CELLINK AB - B SE CLNKB SS 238,478 $4,810,545.77
BKRQ8Q2 BASE INC JP 4477 JP 26,000 $2,786,832.68
BNBNSG0 EURONEXT NV NL ENX FP 113,782 $11,847,118.78
BNGN9Z1 FINECOBANK SPA IT FBK IM 551,234 $7,568,348.51
BPF0548 AMS AG AT AMS SW 268,980 $5,759,317.51
BT9Q186 KEPPEL DC REIT SG KDCREIT SP 2,348,000 $4,985,313.07
BV8TBH9 IR JAPAN HOLDINGS LTD JP 6035 JP 39,100 $4,329,037.18
BX8ZX20 ROYAL UNIBREW DK RBREW DC 131,373 $12,810,072.26
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 517,585 $2,260,632.11
BYQ0HV1 BLUE PRISM GROUP PLC GB PRSM LN 133,251 $2,665,365.25
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 157,372 $2,390,384.65
BYVKG53 CREDITACCESS GRAMEEN LTD IN CREDAG IN 414,910 $3,624,514.51
BYWH8S0 HELLOFRESH SE DE HFG GR 79,550 $4,250,886.18
BYXX821 STORYTEL AB SE STORYB SS 156,698 $3,781,186.42
BYXYHM7 WILCON DEPOT INC PH WLCON PM 6,858,428 $2,028,203.38
BYZN904 FUTURE PLC GB FUTR LN 259,663 $6,676,080.72
BYZWMR9 VAT GROUP AG CH VACN SW 13,140 $2,465,261.17
BZ17B89 KAHOOT AS NO KAHOOTME NO 1,019,845 $6,259,789.63
BZ5ZWZ3 MEGAPORT LTD AU MP1 AU 222,049 $2,110,159.89
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 47,412 $6,725,869.53
BZBW6G7 SINCH AB SE SINCH SS 34,430 $3,268,529.46

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2020 Distributions Estimates
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Funds whose investments are concentrated in foreign and emerging market countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets. Additionally, the Series is subject to portfolio turnover risk as it may buy and sell investments frequently, which may result in higher expenses and an increase in realized capital gains and potential tax implications for shareholders.

An Underutilized and Misunderstood Asset Class

We believe that adding international small cap stocks to a broader portfolio may help dampen volatility and boost long-term performance.

 

See below for most recent performance.

Download the product spotlight to learn more about this underutilized, but opportunistic solution

Daily Price

$27.91

Daily $ Change

-$0.08

Daily % Change

-0.29%

as of 11/25/2020

Ticker

RAIIX

CUSIP

56382R688

Inception Date

03/28/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To provide investors with long-term capital appreciation by investing primarily in the common stock of small- to mid-capitalization companies located outside the U.S.

Investment Strategy

The Series is primarily invested in the common stock of small- and mid-capitalization companies traded outside the U.S. Rainier typically selects investments that fall within the market capitalization range of the MSCI ACWI ex USA Small Cap Index at the time of purchase. The Team will invest in any type of company whether it is in the index or not, as long as it is within the market cap range and fits the investment objectives. To control risk, extreme overweighting or underweighting of the Series relative to the Index is normally avoided.

Investment decisions are based on fundamental analysis, which emphasizes bottom-up stock selection of companies that exhibit strong growth, clear key earnings drivers and attractive valuations. The investment team evaluates companies across all sectors and regions using this growth and valuation criteria.

May be Appropriate for Investors

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of investing in foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

Performance

As of 10/31/2020

As of
Month-End Quarter-End

YTD

17.56%

1 Year

25.88%

3 Year

7.85%

5 Year

10.15%

10 Year

---

Inception
(03/28/2012)

12.79%

For periods prior to 08/21/2017, performance for Class I is based on the historical performance of the Institutional Shares of the Rainier International Discovery Fund (Predecessor Fund), which was managed by Rainier Investment Management, LLC and reorganized into the Manning & Napier Fund, Inc. Rainier International Discovery Series Class I on 08/21/2017. Performance for the Class I shares will differ to the extent that the Predecessor Fund’s Institutional Shares had a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. 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 that quoted.

Expense Ratio

Gross 1.18%
Net 1.16%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund's Board of Directors.

Top Ten Investments

As of 10/31/2020

As of
Month-End Quarter-End
TECHTRONIC INDUSTRIES CO LTD 2.95%
TELEPERFORMANCE 2.56%
ROYAL UNIBREW 2.56%
EURONEXT NV 2.36%
NETCOMPANY GROUP AS 2.13%
SOLARIA ENERGIA Y MEDIO AMBI 1.91%
ARJO AB- B SHARES 1.87%
ALK-ABELLO A/S 1.81%
MIPS AB 1.60%
CORBION NV 1.58%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 10/31/2020

As of
Month-End Quarter-End
Communication Services
3.91%
Consumer Discretionary
8.56%
Consumer Staples
3.69%
Financials
11.76%
Health Care
13.99%
Industrials
26.21%
Information Technology
21.01%
Materials
3.04%
Real Estate
2.77%
Utilities
5.06%

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

Country Allocation

As of 10/31/2020

As of
Month-End Quarter-End
Japan
15.17%
Sweden
11.19%
United Kingdom
9.20%
Denmark
8.45%
Italy
5.90%
France
5.61%
Taiwan
4.87%
Netherlands
4.84%
Canada
4.48%
Germany
4.45%
Australia
3.94%
Hong Kong
2.95%
Finland
2.13%
Norway
2.03%
South Korea
1.99%
Spain
1.91%
China
1.47%
Belgium
1.36%
Indonesia
1.32%
India
1.28%
Austria
1.15%
Singapore
0.99%
Ireland
0.89%
Poland
0.58%
Greece
0.57%
Switzerland
0.49%
Philippines
0.40%
Iceland
0.39%
Thailand
0.00%

October Fund Holdings

As of 10/31/2020

October September August July
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0066701 AVON RUBBER PLC GB AVON LN 66,210 $3,372,810.91
0207458 GENUS PLC GB GNS LN 82,199 $4,368,461.01
0309644 ELECTROCOMPONENTS PLC GB ECM LN 858,529 $7,537,754.49
0405207 HALMA PLC GB HLMA LN 174,044 $5,341,012.17
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 590,890 $4,878,317.11
0946580 WEIR GROUP PLC/THE GB WEIR LN 162,875 $3,025,863.01
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 79,737 $3,607,136.08
2141941 DESCARTES SYSTEMS GRP/THE CA DSG CN 46,035 $2,468,468.36
262006208 DREYFUS GVT CSH MANAGEMENT US 14,551,742.33 $14,551,742.33
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 77,885 $4,849,178.68
4018786 CELLAVISION AB SE CEVI SS 67,320 $2,103,883.47
4196897 INGENICO GROUP FR ING FP 27,425 $3,943,027.71
4447476 HUHTAMAKI OYJ FI HUH1V FH 149,407 $7,298,139.30
5161407 INTERPUMP GROUP SPA IT IP IM 207,191 $7,825,884.20
5337093 ERG SPA IT ERG IM 257,696 $5,836,068.14
5473124 BIOGAIA AB-B SHS SE BIOGB SS 59,347 $2,816,162.28
5545670 JUNGHEINRICH AG DE JUN3 GR 103,710 $3,770,585.08
5720273 MLP SE DE MLP GR 782,131 $4,349,038.41
5999330 TELEPERFORMANCE FR TEP FP 42,823 $12,854,696.70
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 97,500 $2,915,110.00
6044109 ANRITSU CORP JP 6754 JP 252,600 $5,530,037.15
6200194 ITOCHU TECHNO-SOLUTIONS CORP JP 4739 JP 103,800 $3,521,663.71
6250025 DAIFUKU CO LTD JP 6383 JP 60,200 $6,207,694.38
6277927 CYBOZU INC JP 4776 JP 144,200 $4,161,045.36
6292782 PRO MEDICUS LTD AU PME AU 145,540 $3,322,072.54
6349354 SINBON ELECTRONICS CO LTD TW 3023 TT 586,000 $3,950,240.74
6357368 FUNAI SOKEN HOLDINGS INC JP 9757 JP 89,582 $1,937,782.48
6373632 PRESTIGE INTERNATIONAL INC JP 4290 JP 312,900 $2,662,717.75
6434562 NHN KCP CORP KR 114,070 $6,776,536.58
6541826 POYA INTERNATIONAL CO LTD TW 5904 TT 300,000 $6,479,522.09
6687571 NABTESCO CORP JP 6268 JP 186,000 $6,948,633.65
6869131 THK CO LTD JP 6481 JP 206,100 $5,470,906.62
7195824 REVENIO GROUP OYJ FI REG1V FH 82,147 $3,362,573.97
7243530 JUMBO SA GR 203,108 $2,846,820.85
7315440 FALCK RENEWABLES SPA IT FKR IM 812,156 $4,404,128.57
7399369 VIRBAC SA FR VIRP FP 19,775 $4,601,568.78
B00ZG06 NORDIC SEMICONDUCTOR ASA NO NOD NO 370,075 $3,892,660.63
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,098,500 $14,796,072.35
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 130,100 $4,031,561.71
B01JCK9 LI NING CO LTD CN 2331 HK 1,417,500 $7,387,925.53
B06G108 INVISIO COMMUNICATIONS AB DK IVSO SS 268,493 $4,830,619.31
B07SFG7 DOMINO'S PIZZA ENTERPRISES L AU DMP AU 59,440 $3,540,337.74
B0PCQR9 GENOVIS AB SE GENO SS 661,608 $2,063,215.37
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 27,066 $9,056,095.53
B1DN466 NIHON M&A CENTER INC JP 2127 JP 85,600 $5,026,568.17
B1WF979 NANOSONICS LTD AU NAN AU 367,315 $1,330,772.01
B1WT1L9 SWECO AB-B SHS SE SWECB SS 97,491 $4,905,759.88
B1YVKJ4 SOLARIA ENERGIA Y MEDIO AMBI ES SLR SM 492,239 $9,576,837.86
B234WN9 DIASORIN SPA IT DIA IM 17,927 $3,935,476.50
B281L72 FAGRON BE FAGR BB 306,908 $6,813,668.21
B28XLF6 HYPOPORT AG DE HYQ GR 5,191 $2,717,918.43
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 308,580 $5,563,380.32
B2PLYM1 SMS CO LTC JP 2175 JP 114,800 $3,379,957.35
B39Q399 KOH YOUNG TECHNOLOGY INC KR 45,175 $3,179,181.65
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 328,400 $3,468,975.54
B3ZMYK9 OSSUR HF IS OSSR DC 295,768 $1,948,940.42
B56LHP5 WIN SEMICONDUCTORS CORP TW 3105 TT 234,000 $2,552,776.37
B5LMKP4 NEXTDC LTD AU NXT AU 310,940 $2,784,105.24
B7FNMQ2 ELEMENT FLEET MANAGEMENT COR CA EFN CN 773,360 $7,284,896.80
B80VKP3 ASPEED TECHNOLOGY INC TW 5274 TT 93,000 $4,501,154.16
B86SZR5 ALS LTD AU ALQ AU 1,006,905 $6,662,910.10
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 103,471 $2,625,031.51
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 204,758 $4,647,701.12
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 201,498 $6,911,623.03
BBCR9N1 SIMCORP A/S DK SIM DC 41,777 $4,982,896.17
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 163,417 $4,479,730.17
BCDBLX3 SARANA MENARA NUSANTARA PT ID TOWR IJ 42,894,200 $2,872,515.85
BD0RYG5 VARUN BEVERAGES ltd IN VBL IN 316,825 $2,797,786.12
BD0YVN2 DINO POLSKA SA PL DNP PW 52,696 $2,897,196.38
BD45357 BYGGHEMMA GROUP FIRST AB SE BHG SS 388,492 $6,052,143.39
BDRXBF4 TFI INTERNATIONAL INC CA TFII CN 51,255 $2,282,103.58
BF0QD69 KATITAS CO LTD JP 8919 JP 149,400 $4,238,612.51
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,315,640 $9,351,594.67
BF25643 ARUHI CORP JP 7198 JP 318,210 $5,713,453.06
BF2CVV6 MIPS AB SE MIPS SS 186,980 $8,043,685.67
BFNBJ41 BANK TABUNGAN PENSIUNAN NASI ID BTPS IJ 14,913,209 $3,723,960.09
BFRSRR7 CORBION NV NL CRBN NA 174,428 $7,922,081.04
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 128,453 $10,684,096.76
BG0SJ42 ALFEN NV NL ALFEN NA 70,118 $4,480,954.80
BJ7WGS1 TEAMVIEWER AG DE TMV GR 58,422 $2,575,118.58
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 328,518 $6,257,058.74
BKF1B60 MINOR INTER WT EX 09/30/21 TH 193,920 $1,490.44
BKLFVR7 FREEE KK JP 4478 JP 47,900 $3,748,120.23
BKMFJ94 CELLINK AB - B SE CLNKB SS 238,478 $4,810,545.77
BKRQ8Q2 BASE INC JP 4477 JP 26,000 $2,786,832.68
BNBNSG0 EURONEXT NV NL ENX FP 113,782 $11,847,118.78
BNGN9Z1 FINECOBANK SPA IT FBK IM 551,234 $7,568,348.51
BPF0548 AMS AG AT AMS SW 268,980 $5,759,317.51
BT9Q186 KEPPEL DC REIT SG KDCREIT SP 2,348,000 $4,985,313.07
BV8TBH9 IR JAPAN HOLDINGS LTD JP 6035 JP 39,100 $4,329,037.18
BX8ZX20 ROYAL UNIBREW DK RBREW DC 131,373 $12,810,072.26
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 517,585 $2,260,632.11
BYQ0HV1 BLUE PRISM GROUP PLC GB PRSM LN 133,251 $2,665,365.25
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 157,372 $2,390,384.65
BYVKG53 CREDITACCESS GRAMEEN LTD IN CREDAG IN 414,910 $3,624,514.51
BYWH8S0 HELLOFRESH SE DE HFG GR 79,550 $4,250,886.18
BYXX821 STORYTEL AB SE STORYB SS 156,698 $3,781,186.42
BYXYHM7 WILCON DEPOT INC PH WLCON PM 6,858,428 $2,028,203.38
BYZN904 FUTURE PLC GB FUTR LN 259,663 $6,676,080.72
BYZWMR9 VAT GROUP AG CH VACN SW 13,140 $2,465,261.17
BZ17B89 KAHOOT AS NO KAHOOTME NO 1,019,845 $6,259,789.63
BZ5ZWZ3 MEGAPORT LTD AU MP1 AU 222,049 $2,110,159.89
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 47,412 $6,725,869.53
BZBW6G7 SINCH AB SE SINCH SS 34,430 $3,268,529.46

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2020 Distributions Estimates
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Funds whose investments are concentrated in foreign and emerging market countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets. Additionally, the Series is subject to portfolio turnover risk as it may buy and sell investments frequently, which may result in higher expenses and an increase in realized capital gains and potential tax implications for shareholders.


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