Mutual Fund

Rainier International Discovery Series

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 more information

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

$20.97

Daily $ Change

$0.06

Daily % Change

0.29%

as of 09/22/2023

Ticker

RISAX

CUSIP

56382R670

Inception Date

11/30/2012

Investment Minimum

$2,000.00

Prior to 03/01/2019, the Class S shares were designated as the Class K shares. Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Applications & Forms
Fact Sheet
N-Port Part F Reports

Performance

As of 08/31/2023

YTD

2.20%

1 Year

0.69%

3 Year

-1.35%

5 Year

2.18%

10 Year

7.20%

Inception
(11/30/2012)

9.00%

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.

For periods prior to 08/21/2017, performance for Class S is based on the historical performance of the Class A Shares of the Rainier International Discovery Fund (Predecessor Fund) Class A Shares, which was managed by Rainier Investment Management, LLC and reorganized into the Manning & Napier Fund, Inc. Rainier International Discovery Series Class S on 08/21/2017. Performance prior to 11/30/2012 is based on the historical performance of the Predecessor Fund’s Institutional Shares and adjusted for the Predecessor Fund’s Class A Shares expenses. If the sales charges were reflected or if performance had been adjusted to reflect the Class S Shares’ expenses, the performance would have been different depending on total expenses incurred by the Predecessor Fund.

Expense Ratio

Gross 1.39%

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee. 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 08/31/2023

VARUN BEVERAGES ltd 4.01%
INDIAN HOTELS CO LIMITED 2.78%
AKER SOLUTIONS ASA 2.03%
TFI INTERNATIONAL INC 1.98%
FUGRO NV-CVA 1.97%
SAAB AB-B 1.96%
CAE INC 1.82%
RHEINMETALL AG 1.80%
WORLEY LTD 1.75%
SYDBANK A/S 1.71%

Top Ten Investments list is unaudited and excludes cash.

Country Allocation

As of 08/31/2023

Japan
21.51%
India
13.21%
United Kingdom
9.36%
Canada
7.47%
Sweden
6.22%
Australia
5.39%
Denmark
5.28%
France
4.71%
Netherlands
4.16%
Taiwan
3.57%
Mexico
3.41%
Norway
2.64%
Germany
2.58%
Thailand
2.35%
Italy
2.31%
Indonesia
1.58%
Belgium
0.77%
Greece
0.74%
Philippines
0.68%
Finland
0.54%
Hong Kong
0.45%
Switzerland
0.43%
Austria
0.42%
South Korea
0.22%

Sector Allocation

As of 08/31/2023

Communication Services
3.63%
Consumer Discretionary
15.58%
Consumer Staples
8.26%
Energy
3.12%
Financials
8.63%
Health Care
5.34%
Industrials
31.14%
Information Technology
14.95%
Materials
3.59%
Real Estate
4.51%
Utilities
1.25%

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.

Security Description Country Ticker Shares/Par Market Value (USD)
AALBERTS NV NL AALB NA 92,437 $3,839,805.50
AIXTRON AG DE AIXA GR 87,432 $3,319,129.94
AKER SOLUTIONS ASA NO AKSO NO 2,822,347 $11,787,577.10
ALS LTD AU ALQ AU 680,017 $5,185,675.85
ALSEA SAB DE DV MX ALSEA* MM 1,319,107 $4,658,902.88
ALTEN SA FR ATE FP 60,381 $8,578,053.71
AMVIS HOLDINGS INC JP 7071 JP 234,686 $4,681,511.14
APL APOLLO TUBES LTD IN APAT IN 455,929 $9,224,282.32
ASAHI INTECC CO LTD JP 7747 JP 389,200 $7,895,119.39
AUTO TRADER GROUP PLC GB AUTO LN 582,327 $4,465,553.40
B&M EUROPEAN VALUE RETAIL SA GB BME LN 549,727 $4,017,456.15
BABCOCK INTL GROUP PLC GB BAB LN 707,393 $3,459,519.19
BARCO N.V. BE BAR BB 207,485 $4,453,609.04
BE SEMICONDUCTOR NL BESI NA 31,806 $3,650,851.41
BIOGAIA AB-B SHS SE BIOGB SS 472,413 $4,314,865.05
BREMBO SPA IT BRE IM 147,372 $2,048,096.17
BRUNELLO CUCINELLI SPA IT BC IM 71,850 $5,937,603.96
BUYSELL TECHNOLOGIES CO LTD JP 7685 JP 54,900 $1,433,043.54
CAE INC CA CAE CN 438,491 $10,576,096.57
COM7 PCL-NVDR TH COM7-R TB 5,937,500 $5,460,502.78
CORP INMOBILIARIA MX VESTA MM 2,628,900 $9,719,706.52
CREDITACCESS GRAMEEN LTD IN CREDAG IN 369,942 $6,323,373.44
DAIEI KANKYO CO LTD JP 9336 JP 300,108 $4,759,043.41
DAIFUKU CO LTD JP 6383 JP 297,700 $5,494,226.68
DESCARTES SYSTEMS GRP/THE CA DSG CN 79,889 $5,989,901.27
DOMINO'S PIZZA GROUP PLC GB DOM LN 926,728 $4,637,217.17
DREYFUS GVT CSH MANAGEMENT US 39,902,643.57 $39,902,643.57
E INK HOLDINGS INC TW 8069 TT 277,000 $1,583,280.05
ELEMENT FLEET MANAGEMENT COR CA EFN CN 561,951 $8,638,041.94
EMEMORY TECHNOLOGY INC TW 3529 TT 110,000 $6,231,477.95
ERG SPA IT ERG IM 80,681 $2,207,457.56
EURONEXT NV NL ENX FP 73,210 $5,285,077.01
FORTNOX AB SE FNOX SS 807,516 $4,194,410.03
FUGRO NV-CVA NL FUR NA 678,630 $11,435,507.03
FUKUOKA FINANCIAL GROUP INC JP 8354 JP 226,100 $5,339,418.52
GAZTRANSPORT ET TECHNIGA SA FR GTT FP 51,452 $6,371,544.39
GMO PAYMENT GATEWAY INC JP 3769 JP 58,200 $3,685,402.27
GRUPO AEROPORT DEL SURESTE-B MX 200,589 $5,460,448.92
HALMA PLC GB HLMA LN 151,248 $4,100,097.82
HOWDEN JOINERY GROUP INC GB HWDN LN 704,512 $6,588,986.41
HUSQVARNA AB-B SHS SE HUSQB SS 568,808 $4,897,189.95
INDIAN HOTELS CO LIMITED IN IH IN 3,187,881 $16,193,336.44
INTERNET INITIATIVE JAPAN JP 3774 JP 528,700 $9,188,932.44
INTERPUMP GROUP SPA IT IP IM 63,824 $3,226,632.32
ISS A/S DK ISS DC 441,244 $7,832,310.19
JAPAN AIRPORT TERMINAL CO JP 9706 JP 134,600 $6,379,724.05
JAPAN HOTEL REIT INVESTMENT JP 8985 JP 17,631 $8,935,219.76
JUMBO SA GR 138,919 $4,296,162.04
KALBE FARMA TBK PT ID KLBF IJ 27,449,600 $3,265,717.09
KANEKA CORP JP 4118 JP 159,600 $4,479,655.32
KPIT TECHNOLOGIES LTD IN KPITTECH IN 345,011 $4,894,490.39
L'OCCITANE INTERNATIONAL SA HK 973 HK 746,250 $2,641,479.59
MAX HEALTHCARE INSTITUTE LTD IN MAXHEALT IN 599,134 $4,268,792.59
MEGAPORT LTD AU MP1 AU 448,235 $3,481,627.40
MINOR INTERNATIONAL PCL-NVDR TH MINT-R TB 3,622,500 $3,437,125.66
MIPS AB SE MIPS SS 48,626 $1,796,200.57
MORINAGA & CO LTD JP 2201 JP 111,400 $4,048,548.36
NEXTAGE CO LTD JP 3186 JP 327,700 $7,376,685.13
NHPC LTD IN NHPC IN 8,332,380 $5,050,423.39
NIFCO INC JP 7988 JP 178,600 $5,264,375.56
NIKON CORP JP 7731 JP 627,900 $6,772,000.66
NORDIC SEMICONDUCTOR ASA NO NOD NO 294,008 $3,570,772.94
OXFORD INSTRUMENTS PLC GB OXIG LN 176,003 $4,938,577.30
PARK24 CO LTD JP 4666 JP 579,800 $8,177,522.33
PHOENIX MILLS LTD IN PHNX IN 348,886 $7,580,271.08
PILBARA MINERALS LTD AU PLS AU 1,162,007 $3,483,719.41
PRO MEDICUS LTD AU PME AU 100,913 $4,777,535.08
QT GROUP OYJ FI QTCOM FH 49,381 $3,151,231.35
RHEINMETALL AG DE RHM GR 38,563 $10,474,673.84
RIGHTMOVE PLC GB RMV LN 1,052,323 $7,448,576.02
RINGKJOEBING LANDBOBANK DK RILBA DC 29,010 $4,294,096.28
ROHTO PHARMACEUTICAL CO LTD JP 4527 JP 237,400 $6,176,303.50
ROYAL UNIBREW DK RBREW DC 22,221 $1,948,651.47
RS GROUP PLC GB RS1 LN 233,978 $2,248,387.32
S.O.I.T.E.C. FR SOI FP 32,735 $5,983,410.99
SAAB AB-B SE SAABB SS 216,187 $11,396,117.67
SIAM GLOBAL HOUSE PCL TH GLOBAL TB 3,958,561.97 $2,124,146.77
SIAM GLOBAL HOUSE PCL FOREIG TH GLOBAL/F TB 4,937,948.03 $2,649,680.99
SINBON ELECTRONICS CO LTD TW 3023 TT 838,000 $8,141,149.46
SIXT SE DE SIX2 GR 11,216 $1,195,722.11
SKC CO LTD KR 011790 KS 18,144 $1,253,838.77
SOJITZ CORP JP 2768 JP 352,400 $7,571,174.84
SOPRA STERIA GROUP FR SOP FP 29,316 $6,448,264.98
SSP GROUP PLC GB SSPG LN 1,364,483 $4,062,038.60
SUMBER ALFARIA TRIJAYA ID AMRT IJ 31,170,784 $5,935,342.98
SYDBANK A/S DK SYDB DC 212,212 $9,967,514.77
TAKEUCHI MFG CO LTD JP 6432 JP 207,700 $6,595,511.47
TECHNOLOGY ONE LTD AU TNE AU 427,704 $4,254,503.55
TECHNOPRO HOLDINGS INC JP 6028 JP 320,400 $7,857,979.83
TFI INTERNATIONAL INC CA TFII CN 84,546 $11,520,581.35
THK CO LTD JP 6481 JP 170,900 $3,121,018.56
TOPDANMARK A/S DK TOP DC 140,344 $6,641,840.17
TOROMONT INDUSTRIES LTD CA TIH CN 81,832 $6,712,743.40
TRELLEBORG AB-B SHS SE TRELB SS 304,395 $7,727,640.46
UNIVERSAL ROBINA CORP PH URC PM 2,017,690 $3,982,537.16
VARUN BEVERAGES ltd IN VBL IN 2,148,459 $23,312,351.00
VAT GROUP AG CH VACN SW 6,212 $2,482,607.49
VOLTRONIC POWER TECHNOLOGY TW 6409 TT 105,498 $4,788,295.96
WHITBREAD PLC GB WTB LN 194,433 $8,456,577.68
WIENERBERGER AG AT WIE AV 88,442 $2,434,496.43
WORLEY LTD AU WOR AU 902,941 $10,152,689.76
XVIVO PERFUSION AB SE XVIVO SS 68,658 $1,832,075.13

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class S Distribution History
  • 2023 Distribution Calendar
  • 2023 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 more information

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

$20.97

Daily $ Change

$0.06

Daily % Change

0.29%

as of 09/22/2023

Ticker

RISAX

CUSIP

56382R670

Inception Date

11/30/2012

Investment Minimum

$2,000.00

Prior to 03/01/2019, the Class S shares were designated as the Class K shares. Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Applications & Forms
Fact Sheet
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 08/31/2023

YTD

2.20%

1 Year

0.69%

3 Year

-1.35%

5 Year

2.18%

10 Year

7.20%

Inception
(11/30/2012)

9.00%

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.

For periods prior to 08/21/2017, performance for Class S is based on the historical performance of the Class A Shares of the Rainier International Discovery Fund (Predecessor Fund) Class A Shares, which was managed by Rainier Investment Management, LLC and reorganized into the Manning & Napier Fund, Inc. Rainier International Discovery Series Class S on 08/21/2017. Performance prior to 11/30/2012 is based on the historical performance of the Predecessor Fund’s Institutional Shares and adjusted for the Predecessor Fund’s Class A Shares expenses. If the sales charges were reflected or if performance had been adjusted to reflect the Class S Shares’ expenses, the performance would have been different depending on total expenses incurred by the Predecessor Fund.

Expense Ratio

Gross 1.39%

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee. 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 08/31/2023

VARUN BEVERAGES ltd 4.01%
INDIAN HOTELS CO LIMITED 2.78%
AKER SOLUTIONS ASA 2.03%
TFI INTERNATIONAL INC 1.98%
FUGRO NV-CVA 1.97%
SAAB AB-B 1.96%
CAE INC 1.82%
RHEINMETALL AG 1.80%
WORLEY LTD 1.75%
SYDBANK A/S 1.71%

Top Ten Investments list is unaudited and excludes cash.

Country Allocation

As of 08/31/2023

Japan
21.51%
India
13.21%
United Kingdom
9.36%
Canada
7.47%
Sweden
6.22%
Australia
5.39%
Denmark
5.28%
France
4.71%
Netherlands
4.16%
Taiwan
3.57%
Mexico
3.41%
Norway
2.64%
Germany
2.58%
Thailand
2.35%
Italy
2.31%
Indonesia
1.58%
Belgium
0.77%
Greece
0.74%
Philippines
0.68%
Finland
0.54%
Hong Kong
0.45%
Switzerland
0.43%
Austria
0.42%
South Korea
0.22%

Sector Allocation

As of 08/31/2023

Communication Services
3.63%
Consumer Discretionary
15.58%
Consumer Staples
8.26%
Energy
3.12%
Financials
8.63%
Health Care
5.34%
Industrials
31.14%
Information Technology
14.95%
Materials
3.59%
Real Estate
4.51%
Utilities
1.25%

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.

Security Description Country Ticker Shares/Par Market Value (USD)
AALBERTS NV NL AALB NA 92,437 $3,839,805.50
AIXTRON AG DE AIXA GR 87,432 $3,319,129.94
AKER SOLUTIONS ASA NO AKSO NO 2,822,347 $11,787,577.10
ALS LTD AU ALQ AU 680,017 $5,185,675.85
ALSEA SAB DE DV MX ALSEA* MM 1,319,107 $4,658,902.88
ALTEN SA FR ATE FP 60,381 $8,578,053.71
AMVIS HOLDINGS INC JP 7071 JP 234,686 $4,681,511.14
APL APOLLO TUBES LTD IN APAT IN 455,929 $9,224,282.32
ASAHI INTECC CO LTD JP 7747 JP 389,200 $7,895,119.39
AUTO TRADER GROUP PLC GB AUTO LN 582,327 $4,465,553.40
B&M EUROPEAN VALUE RETAIL SA GB BME LN 549,727 $4,017,456.15
BABCOCK INTL GROUP PLC GB BAB LN 707,393 $3,459,519.19
BARCO N.V. BE BAR BB 207,485 $4,453,609.04
BE SEMICONDUCTOR NL BESI NA 31,806 $3,650,851.41
BIOGAIA AB-B SHS SE BIOGB SS 472,413 $4,314,865.05
BREMBO SPA IT BRE IM 147,372 $2,048,096.17
BRUNELLO CUCINELLI SPA IT BC IM 71,850 $5,937,603.96
BUYSELL TECHNOLOGIES CO LTD JP 7685 JP 54,900 $1,433,043.54
CAE INC CA CAE CN 438,491 $10,576,096.57
COM7 PCL-NVDR TH COM7-R TB 5,937,500 $5,460,502.78
CORP INMOBILIARIA MX VESTA MM 2,628,900 $9,719,706.52
CREDITACCESS GRAMEEN LTD IN CREDAG IN 369,942 $6,323,373.44
DAIEI KANKYO CO LTD JP 9336 JP 300,108 $4,759,043.41
DAIFUKU CO LTD JP 6383 JP 297,700 $5,494,226.68
DESCARTES SYSTEMS GRP/THE CA DSG CN 79,889 $5,989,901.27
DOMINO'S PIZZA GROUP PLC GB DOM LN 926,728 $4,637,217.17
DREYFUS GVT CSH MANAGEMENT US 39,902,643.57 $39,902,643.57
E INK HOLDINGS INC TW 8069 TT 277,000 $1,583,280.05
ELEMENT FLEET MANAGEMENT COR CA EFN CN 561,951 $8,638,041.94
EMEMORY TECHNOLOGY INC TW 3529 TT 110,000 $6,231,477.95
ERG SPA IT ERG IM 80,681 $2,207,457.56
EURONEXT NV NL ENX FP 73,210 $5,285,077.01
FORTNOX AB SE FNOX SS 807,516 $4,194,410.03
FUGRO NV-CVA NL FUR NA 678,630 $11,435,507.03
FUKUOKA FINANCIAL GROUP INC JP 8354 JP 226,100 $5,339,418.52
GAZTRANSPORT ET TECHNIGA SA FR GTT FP 51,452 $6,371,544.39
GMO PAYMENT GATEWAY INC JP 3769 JP 58,200 $3,685,402.27
GRUPO AEROPORT DEL SURESTE-B MX 200,589 $5,460,448.92
HALMA PLC GB HLMA LN 151,248 $4,100,097.82
HOWDEN JOINERY GROUP INC GB HWDN LN 704,512 $6,588,986.41
HUSQVARNA AB-B SHS SE HUSQB SS 568,808 $4,897,189.95
INDIAN HOTELS CO LIMITED IN IH IN 3,187,881 $16,193,336.44
INTERNET INITIATIVE JAPAN JP 3774 JP 528,700 $9,188,932.44
INTERPUMP GROUP SPA IT IP IM 63,824 $3,226,632.32
ISS A/S DK ISS DC 441,244 $7,832,310.19
JAPAN AIRPORT TERMINAL CO JP 9706 JP 134,600 $6,379,724.05
JAPAN HOTEL REIT INVESTMENT JP 8985 JP 17,631 $8,935,219.76
JUMBO SA GR 138,919 $4,296,162.04
KALBE FARMA TBK PT ID KLBF IJ 27,449,600 $3,265,717.09
KANEKA CORP JP 4118 JP 159,600 $4,479,655.32
KPIT TECHNOLOGIES LTD IN KPITTECH IN 345,011 $4,894,490.39
L'OCCITANE INTERNATIONAL SA HK 973 HK 746,250 $2,641,479.59
MAX HEALTHCARE INSTITUTE LTD IN MAXHEALT IN 599,134 $4,268,792.59
MEGAPORT LTD AU MP1 AU 448,235 $3,481,627.40
MINOR INTERNATIONAL PCL-NVDR TH MINT-R TB 3,622,500 $3,437,125.66
MIPS AB SE MIPS SS 48,626 $1,796,200.57
MORINAGA & CO LTD JP 2201 JP 111,400 $4,048,548.36
NEXTAGE CO LTD JP 3186 JP 327,700 $7,376,685.13
NHPC LTD IN NHPC IN 8,332,380 $5,050,423.39
NIFCO INC JP 7988 JP 178,600 $5,264,375.56
NIKON CORP JP 7731 JP 627,900 $6,772,000.66
NORDIC SEMICONDUCTOR ASA NO NOD NO 294,008 $3,570,772.94
OXFORD INSTRUMENTS PLC GB OXIG LN 176,003 $4,938,577.30
PARK24 CO LTD JP 4666 JP 579,800 $8,177,522.33
PHOENIX MILLS LTD IN PHNX IN 348,886 $7,580,271.08
PILBARA MINERALS LTD AU PLS AU 1,162,007 $3,483,719.41
PRO MEDICUS LTD AU PME AU 100,913 $4,777,535.08
QT GROUP OYJ FI QTCOM FH 49,381 $3,151,231.35
RHEINMETALL AG DE RHM GR 38,563 $10,474,673.84
RIGHTMOVE PLC GB RMV LN 1,052,323 $7,448,576.02
RINGKJOEBING LANDBOBANK DK RILBA DC 29,010 $4,294,096.28
ROHTO PHARMACEUTICAL CO LTD JP 4527 JP 237,400 $6,176,303.50
ROYAL UNIBREW DK RBREW DC 22,221 $1,948,651.47
RS GROUP PLC GB RS1 LN 233,978 $2,248,387.32
S.O.I.T.E.C. FR SOI FP 32,735 $5,983,410.99
SAAB AB-B SE SAABB SS 216,187 $11,396,117.67
SIAM GLOBAL HOUSE PCL TH GLOBAL TB 3,958,561.97 $2,124,146.77
SIAM GLOBAL HOUSE PCL FOREIG TH GLOBAL/F TB 4,937,948.03 $2,649,680.99
SINBON ELECTRONICS CO LTD TW 3023 TT 838,000 $8,141,149.46
SIXT SE DE SIX2 GR 11,216 $1,195,722.11
SKC CO LTD KR 011790 KS 18,144 $1,253,838.77
SOJITZ CORP JP 2768 JP 352,400 $7,571,174.84
SOPRA STERIA GROUP FR SOP FP 29,316 $6,448,264.98
SSP GROUP PLC GB SSPG LN 1,364,483 $4,062,038.60
SUMBER ALFARIA TRIJAYA ID AMRT IJ 31,170,784 $5,935,342.98
SYDBANK A/S DK SYDB DC 212,212 $9,967,514.77
TAKEUCHI MFG CO LTD JP 6432 JP 207,700 $6,595,511.47
TECHNOLOGY ONE LTD AU TNE AU 427,704 $4,254,503.55
TECHNOPRO HOLDINGS INC JP 6028 JP 320,400 $7,857,979.83
TFI INTERNATIONAL INC CA TFII CN 84,546 $11,520,581.35
THK CO LTD JP 6481 JP 170,900 $3,121,018.56
TOPDANMARK A/S DK TOP DC 140,344 $6,641,840.17
TOROMONT INDUSTRIES LTD CA TIH CN 81,832 $6,712,743.40
TRELLEBORG AB-B SHS SE TRELB SS 304,395 $7,727,640.46
UNIVERSAL ROBINA CORP PH URC PM 2,017,690 $3,982,537.16
VARUN BEVERAGES ltd IN VBL IN 2,148,459 $23,312,351.00
VAT GROUP AG CH VACN SW 6,212 $2,482,607.49
VOLTRONIC POWER TECHNOLOGY TW 6409 TT 105,498 $4,788,295.96
WHITBREAD PLC GB WTB LN 194,433 $8,456,577.68
WIENERBERGER AG AT WIE AV 88,442 $2,434,496.43
WORLEY LTD AU WOR AU 902,941 $10,152,689.76
XVIVO PERFUSION AB SE XVIVO SS 68,658 $1,832,075.13

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class S Distribution History
  • 2023 Distribution Calendar
  • 2023 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.

Sign up to receive the latest financial planning and investment tips and news.

View all Preferences