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

$19.11

Daily $ Change

-$0.12

Daily % Change

-0.63%

as of 03/25/2019

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
Fact Sheet
Applications & Forms

Performance

As of 02/28/2019

YTD

9.19%

1 Year

-12.46%

3 Year

8.49%

5 Year

5.28%

10 Year

---

Inception
(03/28/2012)

10.97%

Market Cycle

---

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. 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 1.44%
Net 1.41%*

*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 02/28/2019

ROYAL UNIBREW 3.49%
TECHTRONIC INDUSTRIES CO LTD 3.23%
CHR HANSEN HOLDING A/S 2.92%
DECHRA PHARMACEUTICALS PLC 2.80%
TELEPERFORMANCE 2.79%
CAE INC 2.72%
FINECOBANK SPA 2.72%
NEMETSCHEK SE 2.64%
CARL ZEISS MEDITEC AG - BR 2.52%
ABCAM PLC 2.45%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 02/28/2019

Communication Services 3.09%
Consumer Discretionary 12.60%
Consumer Staples 8.98%
Financials 11.86%
Health Care 24.03%
Industrials 24.80%
Information Technology 10.30%
Materials 3.51%
Real Estate 0.83%

Country Allocation

As of 02/28/2019

Japan 13.34%
Denmark 11.67%
Germany 11.56%
United Kingdom 9.36%
France 8.38%
Italy 7.60%
India 5.13%
Thailand 4.25%
Canada 3.96%
Indonesia 3.60%
Hong Kong 3.23%
Switzerland 3.09%
Malaysia 2.21%
Australia 1.73%
Mexico 1.63%
China 1.49%
Philippines 1.47%
Brazil 1.14%
Netherlands 0.90%
South Korea 0.79%
New Zealand 0.77%
Sweden 0.73%
Norway 0.72%
Turkey 0.71%
Poland 0.54%

February Fund Holdings

As of 02/28/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0309644 ELECTROCOMPONENTS PLC GB ECM LN 595,035 $4,368,369.01
0405207 HALMA PLC GB HLMA LN 264,825 $5,463,620.93
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 443,400 $2,893,009.89
06684L103 BAOZUN INC-SPN ADR CN BZUN 61,045 $2,286,135.25
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 326,640 $10,696,659.59
2162760 CAE INC CA CAE CN 493,310 $10,402,638.78
2392545 GRUMA S.A.B.-B MX GRUMAB MM 388,595 $4,209,339.14
262006208 DREYFUS GVT CSH MANAGEMENT US 28,848,545.77 $28,848,545.77
316827104 51JOB INC - ADR CN JOBS 46,975 $3,394,413.50
4612757 OC OERLIKON CORP AG-REG CH OERL SW 162,960 $2,174,460.81
4713490 ROCKWOOL INTL A/S- B SHS DK ROCKB DC 20,555 $5,015,431.65
4730875 TOMRA SYSTEMS ASA NO TOM NO 104,190 $2,750,086.88
5161407 INTERPUMP GROUP SPA IT IP IM 81,155 $2,628,879.50
5263574 FLSMIDTH & CO A/S DK FLS DC 66,055 $3,169,770.05
5633962 NEMETSCHEK SE DE NEM GR 69,165 $10,094,724.03
5843329 SARTORIUS AG-VORZUG DE SRT3 GR 22,015 $3,489,643.51
5910609 RATIONAL AG DE RAA GR 4,855 $3,184,901.45
5922961 CARL ZEISS MEDITEC AG - BR DE AFX GR 112,800 $9,620,009.10
5999330 TELEPERFORMANCE FR TEP FP 59,835 $10,676,643.89
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 302,300 $7,080,153.32
6161525 RYMAN HEALTHCARE LTD NZ RYM NZ 393,573 $2,942,847.94
6188193 MALAYSIA AIRPORTS HLDGS BHD MY MAHB MK 2,735,500 $5,490,665.46
6250025 DAIFUKU CO LTD JP 6383 JP 154,800 $7,630,016.74
6283979 INDOFOOD SUKSES MAKMUR TBK P ID INDF IJ 6,260,800 $3,142,290.94
6352750 EN-JAPAN INC JP 4849 JP 106,700 $3,448,358.47
6430139 LEENO INDUSTRIAL INC KR 7,166 $336,412.93
6455819 INTL CONTAINER TERM SVCS INC PH ICT PM 1,277,900 $2,866,133.02
6561330 KRUNGTHAI CARD PCL NVDR TH KTC-R TB 5,923,600 $5,727,232.92
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 143,300 $2,524,329.16
6688080 PIGEON CORP JP 7956 JP 216,700 $8,847,607.27
6739739 SANDFIRE RESROUCES NL AU SFR AU 432,995 $2,243,844.69
7155884 BACHEM HOLDING AG-REG B CH BANB SW 17,756 $1,996,015.43
7339451 ORPEA SA FR ORP FP 57,040 $6,721,837.20
7391763 SIEGFRIED HOLDING AG-REG CH SFZN SW 10,800 $3,903,918.19
B018C06 MINOR INTERNATIONAL PCL TH MINT TB 1,504,246 $1,848,578.45
B018C28 MINOR INTERNATIONAL PCL-NVDR TH MINT-R TB 1,414,854 $1,738,723.99
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,845,500 $12,328,406.44
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 149,000 $7,165,504.94
B05L892 TOP GLOVE CORP BHD MY TOPG MK 2,641,600 $2,947,908.02
B0D0006 BIM BIRLESIK MAGAZALAR AS TR BIMAS TI 169,240 $2,716,970.54
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 16,315 $2,555,430.01
B14NJ71 AMPLIFON SPA IT AMP IM 187,929 $3,492,263.60
B1DN466 NIHON M&A CENTER INC JP 2127 JP 126,700 $3,206,453.30
B1HKRM0 KORIAN FR KORI FP 235,940 $8,825,144.41
B1JTY91 XING SE DE O1BC GR 22,071 $7,559,577.53
B1Y6V63 GRUPPO MUTUIONLINE SPA IT MOL IM 127,560 $2,347,605.44
B234WN9 DIASORIN SPA IT DIA IM 62,185 $6,091,657.91
B39Q399 KOH YOUNG TECHNOLOGY INC KR 37,270 $2,670,117.04
B3CY709 PERSOL HOLDINGS CO LTD JP 2181 JP 283,100 $4,867,845.11
B3KFW10 TISCO FINANCIAL GROUP-NVDR TH TISCO-R TB 1,208,600 $3,355,419.35
B3L0Q89 TISCO FINANCIAL GROUP PCL TH TISCO TB 1,282,900 $3,561,697.41
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 104,200 $2,731,827.19
B3R1D52 CORPORATE TRAVEL MANAGEMENT AU CTD AU 54,804 $1,041,441.88
B548673 BANK TABUNGAN NEGARA PERSERO ID BBTN IJ 22,796,500 $3,928,179.90
B573M11 CHR HANSEN HOLDING A/S DK CHR DC 109,780 $11,173,901.66
B677469 ABCAM PLC GB ABC LN 548,960 $9,345,160.98
B7JW351 ACE HARDWARE INDONESIA ID ACES IJ 53,687,600 $6,696,762.06
B86SZR5 ALS LTD AU ALQ AU 595,735 $3,327,079.02
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 135,495 $3,186,427.02
BBCR9N1 SIMCORP A/S DK SIM DC 36,015 $3,241,484.93
BD0F6Q3 V-GUARD INDUSTRIES LTD IN VGRD IN 1,024,635 $2,958,096.47
BD0YVN2 DINO POLSKA SA PL DNP PW 72,969 $2,065,421.13
BD3RVD8 L&T TECHNOLOGY SERVICES IN LTTS IN 246,995 $5,337,472.09
BD97240 SOLASTO CORP JP 6197 JP 328,665 $3,433,988.66
BF0B2F6 CANADA GOOSE HOLDINGS INC CA GOOS CN 82,945 $4,724,767.05
BF0LBX7 BIOMERIEUX FR BIM FP 70,145 $5,780,354.03
BFB3ZZ2 BK BRASIL OPERACAO E ASSESSO BR BKBR3 BZ 738,200 $4,359,058.08
BFT7KB7 FEDERAL BANK LTD IN FB IN 4,243,780 $5,007,946.79
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 167,355 $6,105,490.86
BFZCSN4 VITROLIFE AB SE VITR SS 137,255 $2,785,750.14
BG1Z6X0 REGIONALL SAB DE CV MX RA MM 387,600 $2,026,108.27
BGLP232 MONCLER SPA IT MONC IM 106,270 $4,074,868.25
BNBNSG0 EURONEXT NV NL ENX FP 56,485 $3,444,012.12
BNGN9Z1 FINECOBANK SPA IT FBK IM 838,450 $10,401,619.05
BVFNZH2 ROTORK PLC GB ROR LN 793,735 $2,990,914.97
BX8ZX20 ROYAL UNIBREW DK RBREW DC 180,205 $13,323,237.46
BYMFG13 BATA INDIA LD IN BATA IN 206,305 $3,740,388.84
BYR4KP7 GRENKE AG DE GLJ GR 27,315 $2,782,906.05
BYT9340 SCOUT24 AG DE G24 GR 80,890 $4,259,983.39
BYXYHM7 WILCON DEPOT INC PH WLCON PM 9,625,628 $2,745,141.08
BYZWMR9 VAT GROUP AG CH VACN SW 36,050 $3,744,403.06
BZ05GC3 FUTURE RETAIL LTD IN FRETAIL IN 431,320 $2,570,288.03

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class K Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2019 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

$19.11

Daily $ Change

-$0.12

Daily % Change

-0.63%

as of 03/25/2019

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
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 02/28/2019

YTD

9.19%

1 Year

-12.46%

3 Year

8.49%

5 Year

5.28%

10 Year

---

Inception
(03/28/2012)

10.97%

Market Cycle

---

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. 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 1.44%
Net 1.41%*

*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 02/28/2019

ROYAL UNIBREW 3.49%
TECHTRONIC INDUSTRIES CO LTD 3.23%
CHR HANSEN HOLDING A/S 2.92%
DECHRA PHARMACEUTICALS PLC 2.80%
TELEPERFORMANCE 2.79%
CAE INC 2.72%
FINECOBANK SPA 2.72%
NEMETSCHEK SE 2.64%
CARL ZEISS MEDITEC AG - BR 2.52%
ABCAM PLC 2.45%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 02/28/2019

Communication Services
3.09%
Consumer Discretionary
12.60%
Consumer Staples
8.98%
Financials
11.86%
Health Care
24.03%
Industrials
24.80%
Information Technology
10.30%
Materials
3.51%
Real Estate
0.83%

Country Allocation

As of 02/28/2019

Japan
13.34%
Denmark
11.67%
Germany
11.56%
United Kingdom
9.36%
France
8.38%
Italy
7.60%
India
5.13%
Thailand
4.25%
Canada
3.96%
Indonesia
3.60%
Hong Kong
3.23%
Switzerland
3.09%
Malaysia
2.21%
Australia
1.73%
Mexico
1.63%
China
1.49%
Philippines
1.47%
Brazil
1.14%
Netherlands
0.90%
South Korea
0.79%
New Zealand
0.77%
Sweden
0.73%
Norway
0.72%
Turkey
0.71%
Poland
0.54%

February Fund Holdings

As of 02/28/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0309644 ELECTROCOMPONENTS PLC GB ECM LN 595,035 $4,368,369.01
0405207 HALMA PLC GB HLMA LN 264,825 $5,463,620.93
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 443,400 $2,893,009.89
06684L103 BAOZUN INC-SPN ADR CN BZUN 61,045 $2,286,135.25
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 326,640 $10,696,659.59
2162760 CAE INC CA CAE CN 493,310 $10,402,638.78
2392545 GRUMA S.A.B.-B MX GRUMAB MM 388,595 $4,209,339.14
262006208 DREYFUS GVT CSH MANAGEMENT US 28,848,545.77 $28,848,545.77
316827104 51JOB INC - ADR CN JOBS 46,975 $3,394,413.50
4612757 OC OERLIKON CORP AG-REG CH OERL SW 162,960 $2,174,460.81
4713490 ROCKWOOL INTL A/S- B SHS DK ROCKB DC 20,555 $5,015,431.65
4730875 TOMRA SYSTEMS ASA NO TOM NO 104,190 $2,750,086.88
5161407 INTERPUMP GROUP SPA IT IP IM 81,155 $2,628,879.50
5263574 FLSMIDTH & CO A/S DK FLS DC 66,055 $3,169,770.05
5633962 NEMETSCHEK SE DE NEM GR 69,165 $10,094,724.03
5843329 SARTORIUS AG-VORZUG DE SRT3 GR 22,015 $3,489,643.51
5910609 RATIONAL AG DE RAA GR 4,855 $3,184,901.45
5922961 CARL ZEISS MEDITEC AG - BR DE AFX GR 112,800 $9,620,009.10
5999330 TELEPERFORMANCE FR TEP FP 59,835 $10,676,643.89
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 302,300 $7,080,153.32
6161525 RYMAN HEALTHCARE LTD NZ RYM NZ 393,573 $2,942,847.94
6188193 MALAYSIA AIRPORTS HLDGS BHD MY MAHB MK 2,735,500 $5,490,665.46
6250025 DAIFUKU CO LTD JP 6383 JP 154,800 $7,630,016.74
6283979 INDOFOOD SUKSES MAKMUR TBK P ID INDF IJ 6,260,800 $3,142,290.94
6352750 EN-JAPAN INC JP 4849 JP 106,700 $3,448,358.47
6430139 LEENO INDUSTRIAL INC KR 7,166 $336,412.93
6455819 INTL CONTAINER TERM SVCS INC PH ICT PM 1,277,900 $2,866,133.02
6561330 KRUNGTHAI CARD PCL NVDR TH KTC-R TB 5,923,600 $5,727,232.92
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 143,300 $2,524,329.16
6688080 PIGEON CORP JP 7956 JP 216,700 $8,847,607.27
6739739 SANDFIRE RESROUCES NL AU SFR AU 432,995 $2,243,844.69
7155884 BACHEM HOLDING AG-REG B CH BANB SW 17,756 $1,996,015.43
7339451 ORPEA SA FR ORP FP 57,040 $6,721,837.20
7391763 SIEGFRIED HOLDING AG-REG CH SFZN SW 10,800 $3,903,918.19
B018C06 MINOR INTERNATIONAL PCL TH MINT TB 1,504,246 $1,848,578.45
B018C28 MINOR INTERNATIONAL PCL-NVDR TH MINT-R TB 1,414,854 $1,738,723.99
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,845,500 $12,328,406.44
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 149,000 $7,165,504.94
B05L892 TOP GLOVE CORP BHD MY TOPG MK 2,641,600 $2,947,908.02
B0D0006 BIM BIRLESIK MAGAZALAR AS TR BIMAS TI 169,240 $2,716,970.54
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 16,315 $2,555,430.01
B14NJ71 AMPLIFON SPA IT AMP IM 187,929 $3,492,263.60
B1DN466 NIHON M&A CENTER INC JP 2127 JP 126,700 $3,206,453.30
B1HKRM0 KORIAN FR KORI FP 235,940 $8,825,144.41
B1JTY91 XING SE DE O1BC GR 22,071 $7,559,577.53
B1Y6V63 GRUPPO MUTUIONLINE SPA IT MOL IM 127,560 $2,347,605.44
B234WN9 DIASORIN SPA IT DIA IM 62,185 $6,091,657.91
B39Q399 KOH YOUNG TECHNOLOGY INC KR 37,270 $2,670,117.04
B3CY709 PERSOL HOLDINGS CO LTD JP 2181 JP 283,100 $4,867,845.11
B3KFW10 TISCO FINANCIAL GROUP-NVDR TH TISCO-R TB 1,208,600 $3,355,419.35
B3L0Q89 TISCO FINANCIAL GROUP PCL TH TISCO TB 1,282,900 $3,561,697.41
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 104,200 $2,731,827.19
B3R1D52 CORPORATE TRAVEL MANAGEMENT AU CTD AU 54,804 $1,041,441.88
B548673 BANK TABUNGAN NEGARA PERSERO ID BBTN IJ 22,796,500 $3,928,179.90
B573M11 CHR HANSEN HOLDING A/S DK CHR DC 109,780 $11,173,901.66
B677469 ABCAM PLC GB ABC LN 548,960 $9,345,160.98
B7JW351 ACE HARDWARE INDONESIA ID ACES IJ 53,687,600 $6,696,762.06
B86SZR5 ALS LTD AU ALQ AU 595,735 $3,327,079.02
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 135,495 $3,186,427.02
BBCR9N1 SIMCORP A/S DK SIM DC 36,015 $3,241,484.93
BD0F6Q3 V-GUARD INDUSTRIES LTD IN VGRD IN 1,024,635 $2,958,096.47
BD0YVN2 DINO POLSKA SA PL DNP PW 72,969 $2,065,421.13
BD3RVD8 L&T TECHNOLOGY SERVICES IN LTTS IN 246,995 $5,337,472.09
BD97240 SOLASTO CORP JP 6197 JP 328,665 $3,433,988.66
BF0B2F6 CANADA GOOSE HOLDINGS INC CA GOOS CN 82,945 $4,724,767.05
BF0LBX7 BIOMERIEUX FR BIM FP 70,145 $5,780,354.03
BFB3ZZ2 BK BRASIL OPERACAO E ASSESSO BR BKBR3 BZ 738,200 $4,359,058.08
BFT7KB7 FEDERAL BANK LTD IN FB IN 4,243,780 $5,007,946.79
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 167,355 $6,105,490.86
BFZCSN4 VITROLIFE AB SE VITR SS 137,255 $2,785,750.14
BG1Z6X0 REGIONALL SAB DE CV MX RA MM 387,600 $2,026,108.27
BGLP232 MONCLER SPA IT MONC IM 106,270 $4,074,868.25
BNBNSG0 EURONEXT NV NL ENX FP 56,485 $3,444,012.12
BNGN9Z1 FINECOBANK SPA IT FBK IM 838,450 $10,401,619.05
BVFNZH2 ROTORK PLC GB ROR LN 793,735 $2,990,914.97
BX8ZX20 ROYAL UNIBREW DK RBREW DC 180,205 $13,323,237.46
BYMFG13 BATA INDIA LD IN BATA IN 206,305 $3,740,388.84
BYR4KP7 GRENKE AG DE GLJ GR 27,315 $2,782,906.05
BYT9340 SCOUT24 AG DE G24 GR 80,890 $4,259,983.39
BYXYHM7 WILCON DEPOT INC PH WLCON PM 9,625,628 $2,745,141.08
BYZWMR9 VAT GROUP AG CH VACN SW 36,050 $3,744,403.06
BZ05GC3 FUTURE RETAIL LTD IN FRETAIL IN 431,320 $2,570,288.03

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class K Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2019 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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