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.

Request the product spotlight

Our team is here to answer any questions you may have. Contact us if you would like 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

$35.16

Daily $ Change

-$0.05

Daily % Change

-0.14%

as of 08/04/2021

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
N-Port Part F Reports

Performance

As of 06/30/2021

As of
Month-End Quarter-End

YTD

9.30%

1 Year

49.50%

3 Year

15.60%

5 Year

16.45%

10 Year

---

Inception
(03/28/2012)

15.17%

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 1.16%*

*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 06/30/2021

As of
Month-End Quarter-End
ROYAL UNIBREW 3.02%
TELEPERFORMANCE 2.26%
ALK-ABELLO A/S 2.04%
TFI INTERNATIONAL INC 1.97%
LI NING CO LTD 1.96%
MIPS AB 1.92%
ARJO AB- B SHARES 1.84%
INTERPUMP GROUP SPA 1.81%
NETCOMPANY GROUP AS 1.74%
HOWDEN JOINERY GROUP INC 1.68%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 06/30/2021

As of
Month-End Quarter-End
Communication Services 1.30%
Consumer Discretionary 14.38%
Consumer Staples 4.03%
Financials 13.33%
Health Care 13.46%
Industrials 33.27%
Information Technology 12.68%
Materials 6.25%
Real Estate 0.59%
Utilities 0.71%

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 06/30/2021

As of
Month-End Quarter-End
United Kingdom 12.29%
Sweden 11.87%
Denmark 10.53%
Canada 9.64%
Japan 8.82%
Australia 5.04%
Germany 5.01%
France 4.39%
Taiwan 4.39%
India 4.21%
Netherlands 3.72%
Italy 3.62%
South Korea 3.36%
Finland 3.13%
China 2.81%
Switzerland 2.74%
Belgium 1.20%
Norway 1.02%
Malaysia 0.87%
Ireland 0.50%
Mexico 0.49%
Hong Kong 0.35%

June Fund Holdings

As of 06/30/2021

June May April March February January December November October September August July
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0207458 GENUS PLC GB GNS LN 54,685 $3,755,610.26
0309644 ELECTROCOMPONENTS PLC GB ECM LN 831,188 $11,842,023.60
0405207 HALMA PLC GB HLMA LN 129,334 $4,818,371.40
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,059,753 $11,984,708.97
0665045 OXFORD INSTRUMENTS PLC GB OXIG LN 198,735 $6,357,412.66
0946580 WEIR GROUP PLC/THE GB WEIR LN 169,132 $4,341,723.57
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 98,043 $5,926,719.94
2141941 DESCARTES SYSTEMS GRP/THE CA DSG CN 80,361 $5,557,719.05
2162760 CAE INC CA CAE CN 343,668 $10,585,063.12
2188283 CANADIAN WESTERN BANK CA CWB CN 395,302 $11,097,539.21
2516022 LINAMAR CORP CA LNR CN 128,346 $8,050,098.02
262006208 DREYFUS GVT CSH MANAGEMENT US 32,759,856.92 $32,759,856.92
2639349 GRUPO AEROPORT DEL SURESTE-B MX 188,990 $3,479,543.49
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 95,072 $8,283,136.50
4018786 CELLAVISION AB SE CEVI SS 65,326 $2,813,610.92
4902384 TRELLEBORG AB-B SHS SE TRELB SS 176,449 $4,101,119.90
5161407 INTERPUMP GROUP SPA IT IP IM 217,518 $12,905,434.94
5260768 SIXT SE DE SIX2 GR 64,282 $8,661,008.20
5337093 ERG SPA IT ERG IM 171,290 $5,080,410.74
5545670 JUNGHEINRICH AG DE JUN3 GR 134,300 $6,568,965.86
5720273 MLP SE DE MLP GR 630,409 $5,210,127.08
5999330 TELEPERFORMANCE FR TEP FP 39,714 $16,127,446.83
6018085 SKC CO LTD KR 011790 KS 35,170 $4,956,365.45
6044109 ANRITSU CORP JP 6754 JP 110,000 $2,048,967.99
6091280 BENDIGO AND ADELAIDE BANK AU BEN AU 443,882 $3,489,998.50
6121176 LYNAS CORP LTD MY LYC AU 1,458,224 $6,233,487.63
6160384 KMC KUEI MENG INTERNATIONAL TW 5306 TT 573,000 $4,800,885.55
6199571 SK MATERIALS CO LTD KR 19,159 $5,982,292.25
6250025 DAIFUKU CO LTD JP 6383 JP 67,300 $6,106,005.12
6292782 PRO MEDICUS LTD AU PME AU 146,899 $6,470,100.35
6349354 SINBON ELECTRONICS CO LTD TW 3023 TT 601,000 $5,905,279.67
6397825 OZ MINERALS LTD AU OZL AU 347,316 $5,839,036.09
6434562 NHN KCP CORP KR 77,004 $3,974,512.59
6483360 KANEKA CORP JP 4118 JP 102,000 $4,115,373.25
6541826 POYA INTERNATIONAL CO LTD TW 5904 TT 159,000 $3,096,432.62
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 330,700 $8,238,693.68
6597346 MITSUI MINING & SMELTING JP 5706 JP 30,200 $837,904.57
6687571 NABTESCO CORP JP 6268 JP 207,400 $7,824,598.12
6869131 THK CO LTD JP 6481 JP 283,900 $8,472,331.11
7195824 REVENIO GROUP OYJ FI REG1V FH 82,147 $6,225,338.26
7370063 MELEXIS NV BE MELE BB 82,062 $8,531,569.57
7399369 VIRBAC SA FR VIRP FP 19,605 $6,723,863.97
B00ZG06 NORDIC SEMICONDUCTOR ASA NO NOD NO 243,250 $6,167,213.28
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 89,000 $2,127,858.57
B01JCK9 LI NING CO LTD CN 2331 HK 1,147,000 $13,991,463.74
B06G108 INVISIO COMMUNICATIONS AB DK IVSO SS 204,749 $4,514,082.88
B06JSP1 SYDBANK A/S DK SYDB DC 251,467 $7,748,961.91
B07SFG7 DOMINO'S PIZZA ENTERPRISES L AU DMP AU 93,212 $8,428,983.81
B09M9L0 CARGOTEC OYJ-B SHARE FI CGCBV FH 146,351 $7,579,155.83
B0PCQR9 GENOVIS AB SE GENO SS 841,752 $4,327,723.21
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 30,469 $14,542,079.31
B17H3F6 SSAB AB - B SHARES SE SSABB SS 904,009 $3,959,934.73
B1DN466 NIHON M&A CENTER INC JP 2127 JP 264,700 $6,855,834.18
B1FRT61 INDIAN HOTELS CO LIMITED IN IH IN 3,183,791 $6,068,099.70
B1KBGS9 CHEMOMETEC A/S DK CHEMM DC 50,742 $6,843,065.29
B1W8P14 AALBERTS NV NL AALB NA 110,051 $5,927,312.38
B1XDPT6 FORTNOX AB SE FNOX SS 78,052 $3,837,800.63
B2PXYH2 EMEMORY TECHNOLOGY INC TW 3529 TT 143,000 $6,856,395.64
B39Q399 KOH YOUNG TECHNOLOGY INC KR 260,545 $5,504,255.86
B3PG229 L'OCCITANE INTERNATIONAL SA HK 973 HK 679,700 $2,486,184.20
B7FNMQ2 ELEMENT FLEET MANAGEMENT COR CA EFN CN 957,469 $11,168,926.86
B80VKP3 ASPEED TECHNOLOGY INC TW 5274 TT 84,000 $6,058,450.04
B86SZR5 ALS LTD AU ALQ AU 1,200,563 $11,732,303.19
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 130,197 $5,324,657.34
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 95,498 $4,606,837.40
B97SH97 PEPTIDREAM INC JP 4587 JP 93,600 $4,574,305.89
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 103,990 $3,581,849.24
BD0RYG5 VARUN BEVERAGES ltd IN VBL IN 475,237 $4,668,089.54
BD45357 BYGGHEMMA GROUP FIRST AB SE BHG SS 302,591 $5,851,627.17
BDRXBF4 TFI INTERNATIONAL INC CA TFII CN 154,147 $14,072,939.65
BF0QD69 KATITAS CO LTD JP 8919 JP 149,400 $4,200,343.83
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,276,608 $13,159,244.27
BF1KD82 RINGKJOEBING LANDBOBANK DK RILBA DC 73,924 $7,507,977.78
BF25643 ARUHI CORP JP 7198 JP 276,610 $3,558,803.53
BF2CVV6 MIPS AB SE MIPS SS 159,666 $13,733,189.04
BFRSRR7 CORBION NV NL CRBN NA 144,081 $8,250,926.00
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 109,180 $12,413,712.99
BG0SJ42 ALFEN NV NL ALFEN NA 68,249 $6,405,097.64
BG5KQW0 CERES POWER HOLDINGS PLC GB CWR LN 182,150 $2,666,198.38
BH4G7R8 DOOSAN FUEL CELL CO KR 336260 KS 80,226 $3,559,786.09
BJDQQ87 WATCHES OF SWITZERLAND GROUP GB WOSG LN 482,809 $5,583,390.61
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 285,703 $8,913,634.85
BKDX4P8 INMART IN IN INMART IN 44,938 $4,232,546.99
BKMFJ94 CELLINK AB - B SE CLNKB SS 122,178 $6,056,622.82
BKT6105 MUSTI GROUP OY FI MUSTI FH 229,910 $8,509,082.54
BL1GQG1 VACCIBODY AS NO VACC NO 127,359 $1,116,775.49
BL9ZH89 TRIFORK HOLDING AG CH TRIFOR DC 14,781 $424,250.35
BLN9XH8 SWECO AB-B SHS SE SWECB SS 277,296 $5,044,926.70
BLWF8B6 SFS GROUP AG CH SFSN SW 44,728 $6,434,257.55
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 719,661 $5,713,282.72
BMX09H0 HYGEIA HEALTHCARE HOLDINGS CN 6078 HK 463,800 $6,088,855.44
BN574F9 WIZZ AIR HOLDINGS PLC CH WIZZ LN 78,686 $5,087,324.64
BNBNSG0 EURONEXT NV NL ENX FP 55,155 $6,000,221.94
BNC5412 DIXON TECHNOLOGIES INDIA LTD IN DIXON IN 107,766 $6,420,755.12
BNDTGN9 APL APOLLO TUBES LTD IN APAT IN 201,609 $4,423,255.22
BNGN9Z1 FINECOBANK SPA IT FBK IM 451,177 $7,873,635.58
BQY78Q0 INWIDO AB SE INWI SS 439,651 $7,602,340.95
BV8TBH9 IR JAPAN HOLDINGS LTD JP 6035 JP 32,000 $4,023,209.23
BX8ZX20 ROYAL UNIBREW DK RBREW DC 169,391 $21,584,300.19
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 1,161,211 $7,614,142.10
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 266,112 $7,827,195.33
BYVQYG8 FLATEXDEGIRO AG DE FTK GR 78,113 $10,515,097.82
BYWZNK1 IDFC BANK LTD IN IDFCFB IN 5,768,357 $4,214,613.30
BYZN904 FUTURE PLC GB FUTR LN 214,976 $9,313,825.74
BYZWMR9 VAT GROUP AG CH VACN SW 22,930 $7,625,580.95
BZ1DNL4 SCHAEFFLER AG DE SHA GR 521,685 $4,814,868.07
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 38,401 $8,479,802.23

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class I Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2020 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2021 Distributions
  • First Quarter 2021 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.

Request the product spotlight

Our team is here to answer any questions you may have. Contact us if you would like to learn more about this underutilized, but opportunistic solution.

Daily Price

$35.16

Daily $ Change

-$0.05

Daily % Change

-0.14%

as of 08/04/2021

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
N-Port Part F Reports

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 06/30/2021

As of
Month-End Quarter-End

YTD

9.30%

1 Year

49.50%

3 Year

15.60%

5 Year

16.45%

10 Year

---

Inception
(03/28/2012)

15.17%

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 1.16%*

*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 06/30/2021

As of
Month-End Quarter-End
ROYAL UNIBREW 3.02%
TELEPERFORMANCE 2.26%
ALK-ABELLO A/S 2.04%
TFI INTERNATIONAL INC 1.97%
LI NING CO LTD 1.96%
MIPS AB 1.92%
ARJO AB- B SHARES 1.84%
INTERPUMP GROUP SPA 1.81%
NETCOMPANY GROUP AS 1.74%
HOWDEN JOINERY GROUP INC 1.68%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 06/30/2021

As of
Month-End Quarter-End
Communication Services
1.30%
Consumer Discretionary
14.38%
Consumer Staples
4.03%
Financials
13.33%
Health Care
13.46%
Industrials
33.27%
Information Technology
12.68%
Materials
6.25%
Real Estate
0.59%
Utilities
0.71%

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 06/30/2021

As of
Month-End Quarter-End
United Kingdom
12.29%
Sweden
11.87%
Denmark
10.53%
Canada
9.64%
Japan
8.82%
Australia
5.04%
Germany
5.01%
France
4.39%
Taiwan
4.39%
India
4.21%
Netherlands
3.72%
Italy
3.62%
South Korea
3.36%
Finland
3.13%
China
2.81%
Switzerland
2.74%
Belgium
1.20%
Norway
1.02%
Malaysia
0.87%
Ireland
0.50%
Mexico
0.49%
Hong Kong
0.35%

June Fund Holdings

As of 06/30/2021

June May April March February January December November October September August July
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0207458 GENUS PLC GB GNS LN 54,685 $3,755,610.26
0309644 ELECTROCOMPONENTS PLC GB ECM LN 831,188 $11,842,023.60
0405207 HALMA PLC GB HLMA LN 129,334 $4,818,371.40
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,059,753 $11,984,708.97
0665045 OXFORD INSTRUMENTS PLC GB OXIG LN 198,735 $6,357,412.66
0946580 WEIR GROUP PLC/THE GB WEIR LN 169,132 $4,341,723.57
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 98,043 $5,926,719.94
2141941 DESCARTES SYSTEMS GRP/THE CA DSG CN 80,361 $5,557,719.05
2162760 CAE INC CA CAE CN 343,668 $10,585,063.12
2188283 CANADIAN WESTERN BANK CA CWB CN 395,302 $11,097,539.21
2516022 LINAMAR CORP CA LNR CN 128,346 $8,050,098.02
262006208 DREYFUS GVT CSH MANAGEMENT US 32,759,856.92 $32,759,856.92
2639349 GRUPO AEROPORT DEL SURESTE-B MX 188,990 $3,479,543.49
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 95,072 $8,283,136.50
4018786 CELLAVISION AB SE CEVI SS 65,326 $2,813,610.92
4902384 TRELLEBORG AB-B SHS SE TRELB SS 176,449 $4,101,119.90
5161407 INTERPUMP GROUP SPA IT IP IM 217,518 $12,905,434.94
5260768 SIXT SE DE SIX2 GR 64,282 $8,661,008.20
5337093 ERG SPA IT ERG IM 171,290 $5,080,410.74
5545670 JUNGHEINRICH AG DE JUN3 GR 134,300 $6,568,965.86
5720273 MLP SE DE MLP GR 630,409 $5,210,127.08
5999330 TELEPERFORMANCE FR TEP FP 39,714 $16,127,446.83
6018085 SKC CO LTD KR 011790 KS 35,170 $4,956,365.45
6044109 ANRITSU CORP JP 6754 JP 110,000 $2,048,967.99
6091280 BENDIGO AND ADELAIDE BANK AU BEN AU 443,882 $3,489,998.50
6121176 LYNAS CORP LTD MY LYC AU 1,458,224 $6,233,487.63
6160384 KMC KUEI MENG INTERNATIONAL TW 5306 TT 573,000 $4,800,885.55
6199571 SK MATERIALS CO LTD KR 19,159 $5,982,292.25
6250025 DAIFUKU CO LTD JP 6383 JP 67,300 $6,106,005.12
6292782 PRO MEDICUS LTD AU PME AU 146,899 $6,470,100.35
6349354 SINBON ELECTRONICS CO LTD TW 3023 TT 601,000 $5,905,279.67
6397825 OZ MINERALS LTD AU OZL AU 347,316 $5,839,036.09
6434562 NHN KCP CORP KR 77,004 $3,974,512.59
6483360 KANEKA CORP JP 4118 JP 102,000 $4,115,373.25
6541826 POYA INTERNATIONAL CO LTD TW 5904 TT 159,000 $3,096,432.62
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 330,700 $8,238,693.68
6597346 MITSUI MINING & SMELTING JP 5706 JP 30,200 $837,904.57
6687571 NABTESCO CORP JP 6268 JP 207,400 $7,824,598.12
6869131 THK CO LTD JP 6481 JP 283,900 $8,472,331.11
7195824 REVENIO GROUP OYJ FI REG1V FH 82,147 $6,225,338.26
7370063 MELEXIS NV BE MELE BB 82,062 $8,531,569.57
7399369 VIRBAC SA FR VIRP FP 19,605 $6,723,863.97
B00ZG06 NORDIC SEMICONDUCTOR ASA NO NOD NO 243,250 $6,167,213.28
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 89,000 $2,127,858.57
B01JCK9 LI NING CO LTD CN 2331 HK 1,147,000 $13,991,463.74
B06G108 INVISIO COMMUNICATIONS AB DK IVSO SS 204,749 $4,514,082.88
B06JSP1 SYDBANK A/S DK SYDB DC 251,467 $7,748,961.91
B07SFG7 DOMINO'S PIZZA ENTERPRISES L AU DMP AU 93,212 $8,428,983.81
B09M9L0 CARGOTEC OYJ-B SHARE FI CGCBV FH 146,351 $7,579,155.83
B0PCQR9 GENOVIS AB SE GENO SS 841,752 $4,327,723.21
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 30,469 $14,542,079.31
B17H3F6 SSAB AB - B SHARES SE SSABB SS 904,009 $3,959,934.73
B1DN466 NIHON M&A CENTER INC JP 2127 JP 264,700 $6,855,834.18
B1FRT61 INDIAN HOTELS CO LIMITED IN IH IN 3,183,791 $6,068,099.70
B1KBGS9 CHEMOMETEC A/S DK CHEMM DC 50,742 $6,843,065.29
B1W8P14 AALBERTS NV NL AALB NA 110,051 $5,927,312.38
B1XDPT6 FORTNOX AB SE FNOX SS 78,052 $3,837,800.63
B2PXYH2 EMEMORY TECHNOLOGY INC TW 3529 TT 143,000 $6,856,395.64
B39Q399 KOH YOUNG TECHNOLOGY INC KR 260,545 $5,504,255.86
B3PG229 L'OCCITANE INTERNATIONAL SA HK 973 HK 679,700 $2,486,184.20
B7FNMQ2 ELEMENT FLEET MANAGEMENT COR CA EFN CN 957,469 $11,168,926.86
B80VKP3 ASPEED TECHNOLOGY INC TW 5274 TT 84,000 $6,058,450.04
B86SZR5 ALS LTD AU ALQ AU 1,200,563 $11,732,303.19
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 130,197 $5,324,657.34
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 95,498 $4,606,837.40
B97SH97 PEPTIDREAM INC JP 4587 JP 93,600 $4,574,305.89
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 103,990 $3,581,849.24
BD0RYG5 VARUN BEVERAGES ltd IN VBL IN 475,237 $4,668,089.54
BD45357 BYGGHEMMA GROUP FIRST AB SE BHG SS 302,591 $5,851,627.17
BDRXBF4 TFI INTERNATIONAL INC CA TFII CN 154,147 $14,072,939.65
BF0QD69 KATITAS CO LTD JP 8919 JP 149,400 $4,200,343.83
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,276,608 $13,159,244.27
BF1KD82 RINGKJOEBING LANDBOBANK DK RILBA DC 73,924 $7,507,977.78
BF25643 ARUHI CORP JP 7198 JP 276,610 $3,558,803.53
BF2CVV6 MIPS AB SE MIPS SS 159,666 $13,733,189.04
BFRSRR7 CORBION NV NL CRBN NA 144,081 $8,250,926.00
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 109,180 $12,413,712.99
BG0SJ42 ALFEN NV NL ALFEN NA 68,249 $6,405,097.64
BG5KQW0 CERES POWER HOLDINGS PLC GB CWR LN 182,150 $2,666,198.38
BH4G7R8 DOOSAN FUEL CELL CO KR 336260 KS 80,226 $3,559,786.09
BJDQQ87 WATCHES OF SWITZERLAND GROUP GB WOSG LN 482,809 $5,583,390.61
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 285,703 $8,913,634.85
BKDX4P8 INMART IN IN INMART IN 44,938 $4,232,546.99
BKMFJ94 CELLINK AB - B SE CLNKB SS 122,178 $6,056,622.82
BKT6105 MUSTI GROUP OY FI MUSTI FH 229,910 $8,509,082.54
BL1GQG1 VACCIBODY AS NO VACC NO 127,359 $1,116,775.49
BL9ZH89 TRIFORK HOLDING AG CH TRIFOR DC 14,781 $424,250.35
BLN9XH8 SWECO AB-B SHS SE SWECB SS 277,296 $5,044,926.70
BLWF8B6 SFS GROUP AG CH SFSN SW 44,728 $6,434,257.55
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 719,661 $5,713,282.72
BMX09H0 HYGEIA HEALTHCARE HOLDINGS CN 6078 HK 463,800 $6,088,855.44
BN574F9 WIZZ AIR HOLDINGS PLC CH WIZZ LN 78,686 $5,087,324.64
BNBNSG0 EURONEXT NV NL ENX FP 55,155 $6,000,221.94
BNC5412 DIXON TECHNOLOGIES INDIA LTD IN DIXON IN 107,766 $6,420,755.12
BNDTGN9 APL APOLLO TUBES LTD IN APAT IN 201,609 $4,423,255.22
BNGN9Z1 FINECOBANK SPA IT FBK IM 451,177 $7,873,635.58
BQY78Q0 INWIDO AB SE INWI SS 439,651 $7,602,340.95
BV8TBH9 IR JAPAN HOLDINGS LTD JP 6035 JP 32,000 $4,023,209.23
BX8ZX20 ROYAL UNIBREW DK RBREW DC 169,391 $21,584,300.19
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 1,161,211 $7,614,142.10
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 266,112 $7,827,195.33
BYVQYG8 FLATEXDEGIRO AG DE FTK GR 78,113 $10,515,097.82
BYWZNK1 IDFC BANK LTD IN IDFCFB IN 5,768,357 $4,214,613.30
BYZN904 FUTURE PLC GB FUTR LN 214,976 $9,313,825.74
BYZWMR9 VAT GROUP AG CH VACN SW 22,930 $7,625,580.95
BZ1DNL4 SCHAEFFLER AG DE SHA GR 521,685 $4,814,868.07
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 38,401 $8,479,802.23

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class I Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2020 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2021 Distributions
  • First Quarter 2021 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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