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

$18.74

Daily $ Change

$0.37

Daily % Change

1.97%

as of 04/09/2020

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 03/31/2020

As of
Month-End Quarter-End

YTD

-19.83%

1 Year

-9.87%

3 Year

2.41%

5 Year

2.83%

10 Year

---

Inception
(03/28/2012)

8.47%

Market Cycle

---

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 03/31/2020

As of
Month-End Quarter-End
TELEPERFORMANCE 3.53%
TECHTRONIC INDUSTRIES CO LTD 3.15%
ROYAL UNIBREW 2.67%
KORIAN 2.32%
TEAMVIEWER AG 2.24%
EURONEXT NV 1.96%
LI NING CO LTD 1.91%
NETCOMPANY GROUP AS 1.76%
DECHRA PHARMACEUTICALS PLC 1.71%
FAGRON 1.67%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 03/31/2020

As of
Month-End Quarter-End
Communication Services 1.37%
Consumer Discretionary 9.57%
Consumer Staples 5.31%
Financials 9.04%
Health Care 19.04%
Industrials 21.18%
Information Technology 25.29%
Materials 2.20%
Other 0.84%
Real Estate 3.48%
Utilities 2.68%

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 03/31/2020

As of
Month-End Quarter-End
Japan 15.46%
United Kingdom 9.88%
France 8.62%
Germany 8.61%
Sweden 8.38%
Denmark 7.47%
Italy 5.02%
Netherlands 4.07%
Taiwan 3.54%
Canada 3.25%
Hong Kong 3.15%
Australia 2.53%
Finland 2.37%
China 1.91%
Belgium 1.67%
Switzerland 1.63%
Singapore 1.51%
Spain 1.35%
Philippines 1.30%
Poland 1.10%
Iceland 0.91%
India 0.84%
Malaysia 0.84%
Greece 0.80%
Israel 0.78%
Indonesia 0.72%
Ireland 0.71%
New Zealand 0.67%
Thailand 0.67%
South Africa 0.24%

March Fund Holdings

As of 03/31/2020

March February January December
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0207458 GENUS PLC GB GNS LN 63,885 $2,581,533.19
0309644 ELECTROCOMPONENTS PLC GB ECM LN 504,915 $3,214,621.32
0405207 HALMA PLC GB HLMA LN 237,910 $5,587,555.22
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 481,265 $3,027,481.98
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 207,825 $5,993,125.33
2162760 CAE INC CA CAE CN 363,560 $4,595,844.81
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 96,845 $4,242,517.05
4018786 CELLAVISION AB SE CEVI SS 50,861 $1,249,276.58
4196897 INGENICO GROUP FR ING FP 32,355 $3,382,051.74
4447476 HUHTAMAKI OYJ FI HUH1V FH 111,640 $3,574,436.38
46429B614 ISHARES MSCI INDIA SMAL-CAP ETF IN 126,685 $2,928,957.20
5161407 INTERPUMP GROUP SPA IT IP IM 109,645 $2,634,194.34
5633962 NEMETSCHEK SE DE NEM GR 45,840 $2,234,597.22
5720273 MLP SE DE MLP GR 518,420 $2,655,058.27
5910609 RATIONAL AG DE RAA GR 3,010 $1,591,851.39
5922961 CARL ZEISS MEDITEC AG - BR DE AFX GR 34,960 $3,328,911.64
5999330 TELEPERFORMANCE FR TEP FP 59,615 $12,347,278.38
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 173,500 $3,610,128.19
6044109 ANRITSU CORP JP 6754 JP 264,400 $4,864,874.73
6167697 ALTIUM LTD AU ALU AU 119,680 $2,100,154.65
6200194 ITOCHU TECHNO-SOLUTIONS CORP JP 4739 JP 203,400 $5,792,906.67
6250025 DAIFUKU CO LTD JP 6383 JP 74,800 $4,687,590.09
6277927 CYBOZU INC JP 4776 JP 231,400 $4,057,606.85
6292782 PRO MEDICUS LTD AU PME AU 119,370 $1,410,881.52
6302410 TECHNOLOGY ONE LTD AU TNE AU 381,405 $1,842,321.40
6357368 FUNAI SOKEN HOLDINGS INC JP 9757 JP 120,482 $2,380,791.15
6373632 PRESTIGE INTERNATIONAL INC JP 4290 JP 548,300 $4,184,401.29
6541826 POYA INTERNATIONAL CO LTD TW 5904 TT 315,000 $4,460,473.38
6561330 KRUNGTHAI CARD PCL NVDR TH KTC-R TB 2,841,100 $2,341,009.00
7195824 REVENIO GROUP OYJ FI REG1V FH 84,025 $2,069,218.44
7243530 JUMBO SA GR 207,277 $2,782,517.13
7315440 FALCK RENEWABLES SPA IT FKR IM 901,770 $4,660,038.45
7399369 VIRBAC SA FR VIRP FP 15,580 $2,737,103.92
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,737,500 $11,032,961.73
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 141,400 $3,497,114.60
B01JCK9 LI NING CO LTD CN 2331 HK 2,320,000 $6,674,369.85
B06G108 INVISIO COMMUNICATIONS AB DK IVSO SS 241,975 $2,549,126.41
B09FGC9 CARLSBERG BREWERY MALAYSIA B MY CAB MK 510,700 $2,934,322.96
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 24,750 $5,521,128.56
B14NJ71 AMPLIFON SPA IT AMP IM 79,359 $1,612,040.19
B1DN466 NIHON M&A CENTER INC JP 2127 JP 206,900 $5,635,100.12
B1HKRM0 KORIAN FR KORI FP 263,395 $8,126,115.14
B1WF979 NANOSONICS LTD AU NAN AU 661,670 $2,270,257.23
B1YVKJ4 SOLARIA ENERGIA Y MEDIO AMBI ES SLR SM 569,246 $4,726,306.96
B234WN9 DIASORIN SPA IT DIA IM 33,845 $4,461,253.76
B281L72 FAGRON BE FAGR BB 297,445 $5,830,589.26
B28XLF6 HYPOPORT AG DE HYQ GR 7,514 $2,151,644.56
B2PLYM1 SMS CO LTC JP 2175 JP 124,800 $2,406,865.69
B2Q4CR0 TIS INC JP 3626 JP 280,500 $4,651,774.66
B3K7KL2 LOOMIS AB-B SE LOOMB SS 120,118 $2,431,522.33
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 77,900 $2,579,557.28
B3ZMYK9 OSSUR HF IS OSSR DC 547,365 $3,201,165.76
B56LHP5 WIN SEMICONDUCTORS CORP TW 3105 TT 495,000 $4,248,210.88
B677469 ABCAM PLC GB ABC LN 169,995 $2,413,448.00
B7FNMQ2 ELEMENT FLEET MANAGEMENT COR CA EFN CN 396,495 $2,524,405.03
B7WF5R3 TRANSACTION CAPITAL ZA TCP SJ 1,254,835 $853,293.06
B86SZR5 ALS LTD AU ALQ AU 355,285 $1,238,379.82
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 108,730 $1,089,217.95
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 231,525 $4,846,617.24
B8P4LP4 XERO LTD NZ XRO AU 56,795 $2,362,133.80
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 176,900 $3,676,304.74
BBCR9N1 SIMCORP A/S DK SIM DC 31,125 $2,595,145.35
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 140,465 $2,486,455.04
BD0YVN2 DINO POLSKA SA PL DNP PW 99,174 $3,857,779.10
BD45357 BYGGHEMMA GROUP FIRST AB SE BHG SS 303,113 $1,857,471.76
BF0QD69 KATITAS CO LTD JP 8919 JP 127,600 $2,037,072.80
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,056,490 $5,221,168.76
BF25643 ARUHI CORP JP 7198 JP 143,410 $1,620,846.26
BF2CVV6 MIPS AB SE MIPS SS 232,877 $5,215,098.58
BF2F6Q5 TERVEYSTALO OYJ FI TTALO FH 300,000 $2,656,101.80
BF2FPV3 AAK AB SE AAK SS 153,000 $2,473,867.67
BFNBJ41 BANK TABUNGAN PENSIUNAN NASI ID BTPS IJ 19,352,509 $2,519,431.64
BFRSRR7 CORBION NV NL CRBN NA 137,135 $4,139,279.09
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 134,005 $6,154,677.52
BFZNLB6 AJ BELL PLC GB AJB LN 296,110 $1,125,983.02
BG0SJ42 ALFEN NV NL ALFEN NA 140,380 $3,249,194.27
BHNTWQ2 ALLHOME CORP PH HOME PM 13,935,700 $1,284,363.27
BJ7WGS1 TEAMVIEWER AG DE TMV GR 192,925 $7,844,524.77
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 400,318 $3,303,024.10
BKF1B60 MINOR INTER WT EX 09/30/21 TH 193,920 $8,163.34
BKLFVR7 FREEE KK JP 4478 JP 65,700 $2,111,904.37
BKMFJ94 CELLINK AB - B SE CLNKB SS 165,175 $1,361,012.73
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 175,978 $3,477,508.11
BNBNSG0 EURONEXT NV NL ENX FP 93,270 $6,867,776.23
BNGN9Z1 FINECOBANK SPA IT FBK IM 344,665 $3,100,983.35
BT9Q186 KEPPEL DC REIT SG KDCREIT SP 3,289,200 $5,278,875.00
BX8ZX20 ROYAL UNIBREW DK RBREW DC 129,835 $9,332,832.76
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 692,750 $2,438,001.75
BYQ0HV1 BLUE PRISM GROUP PLC GB PRSM LN 141,095 $1,958,709.47
BYWH8S0 HELLOFRESH SE DE HFG GR 168,192 $5,492,366.43
BYXYHM7 WILCON DEPOT INC PH WLCON PM 12,822,128 $3,262,849.89
BYZDVK8 SOFTCAT PLC GB SCT LN 197,935 $2,520,429.04
BYZN904 FUTURE PLC GB FUTR LN 298,405 $3,705,765.41
BYZWMR9 VAT GROUP AG CH VACN SW 16,220 $2,211,469.72
BZ0P4R4 INFRASTRUTTURE WIRELESS IT INW IM 101,665 $1,100,809.15
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 50,095 $3,573,569.06
BZBW6G7 SINCH AB SE SINCH SS 132,225 $5,112,793.01
M2682V108 CYBERARK SOFTWARE LTD/ISREAL IL CYBR 31,775 $2,718,669.00
USD US DOLLAR US 12,484,866.16 $12,484,866.16

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 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

$18.74

Daily $ Change

$0.37

Daily % Change

1.97%

as of 04/09/2020

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 03/31/2020

As of
Month-End Quarter-End

YTD

-19.83%

1 Year

-9.87%

3 Year

2.41%

5 Year

2.83%

10 Year

---

Inception
(03/28/2012)

8.47%

Market Cycle

---

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 03/31/2020

As of
Month-End Quarter-End
TELEPERFORMANCE 3.53%
TECHTRONIC INDUSTRIES CO LTD 3.15%
ROYAL UNIBREW 2.67%
KORIAN 2.32%
TEAMVIEWER AG 2.24%
EURONEXT NV 1.96%
LI NING CO LTD 1.91%
NETCOMPANY GROUP AS 1.76%
DECHRA PHARMACEUTICALS PLC 1.71%
FAGRON 1.67%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 03/31/2020

As of
Month-End Quarter-End
Communication Services
1.37%
Consumer Discretionary
9.57%
Consumer Staples
5.31%
Financials
9.04%
Health Care
19.04%
Industrials
21.18%
Information Technology
25.29%
Materials
2.20%
Other
0.84%
Real Estate
3.48%
Utilities
2.68%

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 03/31/2020

As of
Month-End Quarter-End
Japan
15.46%
United Kingdom
9.88%
France
8.62%
Germany
8.61%
Sweden
8.38%
Denmark
7.47%
Italy
5.02%
Netherlands
4.07%
Taiwan
3.54%
Canada
3.25%
Hong Kong
3.15%
Australia
2.53%
Finland
2.37%
China
1.91%
Belgium
1.67%
Switzerland
1.63%
Singapore
1.51%
Spain
1.35%
Philippines
1.30%
Poland
1.10%
Iceland
0.91%
India
0.84%
Malaysia
0.84%
Greece
0.80%
Israel
0.78%
Indonesia
0.72%
Ireland
0.71%
New Zealand
0.67%
Thailand
0.67%
South Africa
0.24%

March Fund Holdings

As of 03/31/2020

March February January December
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0207458 GENUS PLC GB GNS LN 63,885 $2,581,533.19
0309644 ELECTROCOMPONENTS PLC GB ECM LN 504,915 $3,214,621.32
0405207 HALMA PLC GB HLMA LN 237,910 $5,587,555.22
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 481,265 $3,027,481.98
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 207,825 $5,993,125.33
2162760 CAE INC CA CAE CN 363,560 $4,595,844.81
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 96,845 $4,242,517.05
4018786 CELLAVISION AB SE CEVI SS 50,861 $1,249,276.58
4196897 INGENICO GROUP FR ING FP 32,355 $3,382,051.74
4447476 HUHTAMAKI OYJ FI HUH1V FH 111,640 $3,574,436.38
46429B614 ISHARES MSCI INDIA SMAL-CAP ETF IN 126,685 $2,928,957.20
5161407 INTERPUMP GROUP SPA IT IP IM 109,645 $2,634,194.34
5633962 NEMETSCHEK SE DE NEM GR 45,840 $2,234,597.22
5720273 MLP SE DE MLP GR 518,420 $2,655,058.27
5910609 RATIONAL AG DE RAA GR 3,010 $1,591,851.39
5922961 CARL ZEISS MEDITEC AG - BR DE AFX GR 34,960 $3,328,911.64
5999330 TELEPERFORMANCE FR TEP FP 59,615 $12,347,278.38
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 173,500 $3,610,128.19
6044109 ANRITSU CORP JP 6754 JP 264,400 $4,864,874.73
6167697 ALTIUM LTD AU ALU AU 119,680 $2,100,154.65
6200194 ITOCHU TECHNO-SOLUTIONS CORP JP 4739 JP 203,400 $5,792,906.67
6250025 DAIFUKU CO LTD JP 6383 JP 74,800 $4,687,590.09
6277927 CYBOZU INC JP 4776 JP 231,400 $4,057,606.85
6292782 PRO MEDICUS LTD AU PME AU 119,370 $1,410,881.52
6302410 TECHNOLOGY ONE LTD AU TNE AU 381,405 $1,842,321.40
6357368 FUNAI SOKEN HOLDINGS INC JP 9757 JP 120,482 $2,380,791.15
6373632 PRESTIGE INTERNATIONAL INC JP 4290 JP 548,300 $4,184,401.29
6541826 POYA INTERNATIONAL CO LTD TW 5904 TT 315,000 $4,460,473.38
6561330 KRUNGTHAI CARD PCL NVDR TH KTC-R TB 2,841,100 $2,341,009.00
7195824 REVENIO GROUP OYJ FI REG1V FH 84,025 $2,069,218.44
7243530 JUMBO SA GR 207,277 $2,782,517.13
7315440 FALCK RENEWABLES SPA IT FKR IM 901,770 $4,660,038.45
7399369 VIRBAC SA FR VIRP FP 15,580 $2,737,103.92
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,737,500 $11,032,961.73
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 141,400 $3,497,114.60
B01JCK9 LI NING CO LTD CN 2331 HK 2,320,000 $6,674,369.85
B06G108 INVISIO COMMUNICATIONS AB DK IVSO SS 241,975 $2,549,126.41
B09FGC9 CARLSBERG BREWERY MALAYSIA B MY CAB MK 510,700 $2,934,322.96
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 24,750 $5,521,128.56
B14NJ71 AMPLIFON SPA IT AMP IM 79,359 $1,612,040.19
B1DN466 NIHON M&A CENTER INC JP 2127 JP 206,900 $5,635,100.12
B1HKRM0 KORIAN FR KORI FP 263,395 $8,126,115.14
B1WF979 NANOSONICS LTD AU NAN AU 661,670 $2,270,257.23
B1YVKJ4 SOLARIA ENERGIA Y MEDIO AMBI ES SLR SM 569,246 $4,726,306.96
B234WN9 DIASORIN SPA IT DIA IM 33,845 $4,461,253.76
B281L72 FAGRON BE FAGR BB 297,445 $5,830,589.26
B28XLF6 HYPOPORT AG DE HYQ GR 7,514 $2,151,644.56
B2PLYM1 SMS CO LTC JP 2175 JP 124,800 $2,406,865.69
B2Q4CR0 TIS INC JP 3626 JP 280,500 $4,651,774.66
B3K7KL2 LOOMIS AB-B SE LOOMB SS 120,118 $2,431,522.33
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 77,900 $2,579,557.28
B3ZMYK9 OSSUR HF IS OSSR DC 547,365 $3,201,165.76
B56LHP5 WIN SEMICONDUCTORS CORP TW 3105 TT 495,000 $4,248,210.88
B677469 ABCAM PLC GB ABC LN 169,995 $2,413,448.00
B7FNMQ2 ELEMENT FLEET MANAGEMENT COR CA EFN CN 396,495 $2,524,405.03
B7WF5R3 TRANSACTION CAPITAL ZA TCP SJ 1,254,835 $853,293.06
B86SZR5 ALS LTD AU ALQ AU 355,285 $1,238,379.82
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 108,730 $1,089,217.95
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 231,525 $4,846,617.24
B8P4LP4 XERO LTD NZ XRO AU 56,795 $2,362,133.80
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 176,900 $3,676,304.74
BBCR9N1 SIMCORP A/S DK SIM DC 31,125 $2,595,145.35
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 140,465 $2,486,455.04
BD0YVN2 DINO POLSKA SA PL DNP PW 99,174 $3,857,779.10
BD45357 BYGGHEMMA GROUP FIRST AB SE BHG SS 303,113 $1,857,471.76
BF0QD69 KATITAS CO LTD JP 8919 JP 127,600 $2,037,072.80
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,056,490 $5,221,168.76
BF25643 ARUHI CORP JP 7198 JP 143,410 $1,620,846.26
BF2CVV6 MIPS AB SE MIPS SS 232,877 $5,215,098.58
BF2F6Q5 TERVEYSTALO OYJ FI TTALO FH 300,000 $2,656,101.80
BF2FPV3 AAK AB SE AAK SS 153,000 $2,473,867.67
BFNBJ41 BANK TABUNGAN PENSIUNAN NASI ID BTPS IJ 19,352,509 $2,519,431.64
BFRSRR7 CORBION NV NL CRBN NA 137,135 $4,139,279.09
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 134,005 $6,154,677.52
BFZNLB6 AJ BELL PLC GB AJB LN 296,110 $1,125,983.02
BG0SJ42 ALFEN NV NL ALFEN NA 140,380 $3,249,194.27
BHNTWQ2 ALLHOME CORP PH HOME PM 13,935,700 $1,284,363.27
BJ7WGS1 TEAMVIEWER AG DE TMV GR 192,925 $7,844,524.77
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 400,318 $3,303,024.10
BKF1B60 MINOR INTER WT EX 09/30/21 TH 193,920 $8,163.34
BKLFVR7 FREEE KK JP 4478 JP 65,700 $2,111,904.37
BKMFJ94 CELLINK AB - B SE CLNKB SS 165,175 $1,361,012.73
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 175,978 $3,477,508.11
BNBNSG0 EURONEXT NV NL ENX FP 93,270 $6,867,776.23
BNGN9Z1 FINECOBANK SPA IT FBK IM 344,665 $3,100,983.35
BT9Q186 KEPPEL DC REIT SG KDCREIT SP 3,289,200 $5,278,875.00
BX8ZX20 ROYAL UNIBREW DK RBREW DC 129,835 $9,332,832.76
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 692,750 $2,438,001.75
BYQ0HV1 BLUE PRISM GROUP PLC GB PRSM LN 141,095 $1,958,709.47
BYWH8S0 HELLOFRESH SE DE HFG GR 168,192 $5,492,366.43
BYXYHM7 WILCON DEPOT INC PH WLCON PM 12,822,128 $3,262,849.89
BYZDVK8 SOFTCAT PLC GB SCT LN 197,935 $2,520,429.04
BYZN904 FUTURE PLC GB FUTR LN 298,405 $3,705,765.41
BYZWMR9 VAT GROUP AG CH VACN SW 16,220 $2,211,469.72
BZ0P4R4 INFRASTRUTTURE WIRELESS IT INW IM 101,665 $1,100,809.15
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 50,095 $3,573,569.06
BZBW6G7 SINCH AB SE SINCH SS 132,225 $5,112,793.01
M2682V108 CYBERARK SOFTWARE LTD/ISREAL IL CYBR 31,775 $2,718,669.00
USD US DOLLAR US 12,484,866.16 $12,484,866.16

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 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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