Mutual Funds

Rainier International Discovery Series

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

$23.50

Daily $ Change

$0.04

Daily % Change

0.17%

as of 06/17/2024

Ticker

RAIWX

CUSIP

56382R381

Inception Date

03/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

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

Performance

As of 05/31/2024

YTD

4.84%

1 Year

10.12%

3 Year

-5.75%

5 Year

7.89%

10 Year

7.03%

Inception
(03/01/2019)

9.91%

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.

Inception performance is based on the Rainier International Discovery Series Class I inception of 03/28/2012. For periods through 03/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class I shares. Because the Class W shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio.

Expense Ratio

Gross 1.07%
Net 0.11%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 05/31/2024

FUGRO NV EUR0.05 2.69%
SOJITZ 1.96%
RHEINMETALL AG NPV 1.88%
FUKUOKA FINANCIAL GROUP 1.84%
BABCOCK INTL GROUP ORD GBP0.60 1.82%
HOWDEN JOINERY GR ORD GBP0.10 1.82%
TFI INTERNATIONAL COM NPV 1.76%
ELEMENT FLEET MGMT COM NPV 1.76%
SAAB AB NPV B 1.68%
CORPORACION INMOBI COM NPV 1.60%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 05/31/2024

Japan
17.70%
United Kingdom
13.28%
India
9.70%
Canada
8.31%
Netherlands
5.98%
Taiwan
5.65%
Sweden
5.63%
Germany
5.55%
Australia
5.37%
Denmark
4.70%
France
3.73%
Mexico
3.36%
Italy
1.94%
South Korea
1.67%
Finland
1.39%
China
1.35%
Norway
1.16%
Greece
0.98%
Spain
0.94%
Luxembourg
0.88%
Austria
0.72%

Sector Allocation

As of 05/31/2024

Industrials
30.83%
Information Technology
18.73%
Consumer Discretionary
11.28%
Financials
10.74%
Health Care
7.23%
Communication Services
6.31%
Real Estate
5.60%
Consumer Staples
3.64%
Energy
2.76%
Utilities
2.15%
Materials
0.72%

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 EUR0.25 NL 78,308 $3,708,187.01
AKER SOLUTIONS ASA NOK1.08 NO 1,242,858 $5,413,327.07
ALK-ABELLO A/S SERBDKK0.50 DK 240,021 $5,330,927.65
ALS LIMITED NPV AU 488,333 $4,582,446.31
ALSEA SAB DE CV COM NPV MX 1,278,607 $5,062,394.50
ALTEN SA NPV FR 24,963 $3,189,650.32
AMADA CO LTD NPV JP 302,000 $3,403,493.59
ASAHI INTECC CO LT NPV JP 255,300 $3,674,877.34
ASHTEAD TECHNOLOGY ORD GBP0.05 GB 368,389 $3,864,830.89
ASPEED TECHNOLOGY TWD10 TW 33,000 $3,713,187.63
ATS CORP COM NPV CA 49,953 $1,591,137.63
AUTO TRADER GROUP ORD GBP1.50 GB 548,750 $5,702,532.30
B N M EUROPEAN VAL ORD GBP0.1 (DI) LU 588,510 $4,080,638.42
BABCOCK INTL GROUP ORD GBP0.60 GB 1,179,505 $8,492,372.31
BE SEMICONDUCTOR EUR0.01 NL 29,373 $4,304,789.39
BIOGAIA AB SERBNPV SE 288,619 $3,507,160.48
BRUNELLO CUCINELLI NPV IT 48,362 $4,853,790.23
CAE INC COM NPV CA 135,523 $2,544,132.03
CARSALES.COM LTD NPV AU 185,247 $4,298,396.27
CHEMOMETEC A/S DKK1 DK 30,504 $1,612,507.14
CLASSYS INC KRW100 KR 112,091 $4,003,394.57
CORPORACION INMOBI COM NPV MX 2,155,000 $7,458,181.60
COSMAX INC KRW500 KR 30,569 $3,753,371.13
CREDITACCESS GRAME INR10 IN 186,353 $2,951,977.53
CTS EVENTIM NPV DE 67,420 $5,811,377.47
DAIEI KANKYO CO LT NPV JP 268,000 $4,234,585.89
DAIFUKU CO LTD NPV JP 277,300 $4,841,213.85
DESCARTES SYSTEMS COM NPV CA 61,597 $5,687,267.30
DIPLOMA ORD GBP0.05 GB 91,501 $4,767,142.08
DOMINOS PIZZA GRP ORD GBP0.00520833 GB 581,684 $2,466,198.23
E INK HOLDINGS INC TWD10 TW 580,000 $3,930,048.77
ECLAT TEXTILE CO TWD10 TW 154,000 $2,305,673.89
ELEMENT FLEET MGMT COM NPV CA 460,068 $8,174,336.62
EMEMORY TECHNOLOGY TWD10 TW 79,000 $5,365,191.08
ERG SPA EUR0.10 IT 148,833 $4,155,660.26
EURONEXT EUR1.60 FR 74,673 $7,324,223.55
FORTNOX AB NPV SE 381,253 $2,351,202.75
FUGRO NV EUR0.05 NL 470,226 $12,516,904.51
FUKUOKA FINANCIAL GROUP JP 293,500 $8,552,206.56
GERRESHEIMER AG NPV (BR) DE 34,959 $3,984,906.49
GIGA-BYTE TECH TWD10 TW 325,000 $3,190,405.63
GRUMA SAB DE CV SER'B' NPV MX 161,455 $3,117,666.84
GTT EUR0.01 FR 51,235 $7,447,613.87
HALMA ORD GBP0.10 GB 173,030 $4,903,917.98
HAMMOND POWER SOLUTIONS INC CA4085491039 CA 35,490 $2,894,342.74
HOWDEN JOINERY GR ORD GBP0.10 GB 733,459 $8,474,598.00
HYGEIA HEALTHCARE USD0.00001 HK 804,200 $3,366,530.96
INDIAN HOTELS INR1 (POST SUBDIVISION) IN 507,531 $3,380,955.87
INDRA SISTEMAS ES 191,018 $4,375,488.87
INTERMED CAP GRP ORD GBP0.2625 GB 231,303 $6,802,834.03
INTERNET INITIATIV NPV JP 207,400 $2,922,697.51
JAPAN HOTEL REIT I REIT JP 11,803 $5,873,521.91
JUMBO SA EUR0.88 GR 159,725 $4,577,692.94
KAYNES TECHNOLOGY INR10 IN 118,310 $4,801,142.65
Kfin Technologies Ltd. INR10 IN 451,667 $3,764,196.04
KINAXIS INC COM NPV CA 35,207 $3,782,463.52
KONECRANES OYJ NPV FI 60,757 $3,469,380.24
KPIT TECHNOLOGIES INR10 IN 144,736 $2,525,689.48
KRONES AG ORD NPV DE 21,657 $2,962,365.74
KYOTO FINANCIAL GR NPV JP 188,700 $3,383,259.09
LAGERCRANTZ GROUP AB-B SHS LAGRB SE0014990966 SE 213,886 $3,636,216.56
LANDT FINANCE HOLDIN INR10 IN 1,482,145 $2,718,497.68
MAX HEALTHCARE INS INR10 IN 407,739 $3,674,334.29
MEGAPORT LTD NPV AU 407,943 $3,678,861.79
MORINAGA AND CO NPV JP 208,200 $3,324,151.58
NETCOMPANY GROUP DKK1 DK 80,609 $3,529,070.87
NHPC LTD INR10 IN 4,556,452 $5,846,276.52
NIFCO INC NPV JP 155,000 $3,696,840.50
NIHON MNA CENTER I NPV JP 424,400 $1,965,022.37
NIKON CORP JP 460,400 $4,775,538.52
NKT A/S DKK20 DK 62,291 $5,376,244.49
NOMURA REAL ESTATE HOLDINGS JP 122,300 $3,143,400.68
NORDNET AB NPV SE 263,771 $5,236,696.54
OXFORD INSTRUMENTS ORD GBP0.05 GB 119,371 $3,799,578.93
PHOENIX MILLS INR2 IN 155,446 $5,808,792.41
PRO MEDICUS NPV AU 56,304 $4,497,890.42
QT GROUP OYJ NPV FI 34,089 $2,995,718.14
RHEINMETALL AG NPV DE 15,295 $8,763,724.21
RIGHTMOVE ORD GBP0.001 GB 931,278 $6,322,169.20
RINGKJOBING LNDOBK DKK1 DK 33,658 $6,025,490.85
RINNAI CORP JP 173,400 $4,158,863.47
ROHTO PHARM NPV JP 196,600 $3,454,214.90
SAAB AB NPV B SE 324,892 $7,827,904.08
SCOUT24 AG NPV DE 57,408 $4,312,691.04
SINBON ELECTRONICS TWD10 TW 410,000 $3,721,059.46
SOBHA LIMITED INR10 IN 166,583 $3,796,806.18
SOCIONEXT INC NPV JP 77,000 $2,243,189.41
SOJITZ JP 349,500 $9,127,544.62
SOPRA STERIA GROUP EUR1.00 FR 28,574 $6,743,733.74
STEADFAST GROUP LI NPV AU 882,299 $3,238,986.68
TAKEUCHI MFG CO NPV JP 144,200 $5,588,329.25
TECHNOLOGY ONE NPV AU 398,653 $4,713,907.88
TFI INTERNATIONAL COM NPV CA 62,040 $8,207,676.04
TOROMONT INDUSTRIE COM STK NPV CA 66,106 $5,772,848.36
TOYO TIRE AND RUBBER NPV JP 225,400 $4,019,749.28
TRAINLINE PLC ORD GBP1 (WI) GB 699,341 $2,861,748.68
TRELLEBORG AB SERBNPV SE 94,224 $3,664,246.76
TRIVENI TURBINE LT INR1 IN 372,296 $2,616,781.98
US DOLLARS US 30,834,482.47 $30,834,482.47
VARUN BEVERAGES INR5(POST SUBD) IN 191,547 $3,271,303.90
VOLTRONIC POWER TE TWD10 TW 77,498 $4,055,044.45
WHITBREAD ORD GBP0.76797385 GB 88,936 $3,343,779.80
WIENERBERGER AG NPV AT 89,622 $3,356,630.69
YADEA GROUP HOLDIN USD0.00001 HK 1,832,000 $2,922,451.38

Investments will change over time.

Distributions

  • 2024 Distribution Calendar
  • 2024 Distributions
  • 2023 Distributions
  • 2022 Distributions
  • 2021 Distributions
  • 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.

Daily Price

$23.50

Daily $ Change

$0.04

Daily % Change

0.17%

as of 06/17/2024

Ticker

RAIWX

CUSIP

56382R381

Inception Date

03/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
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 05/31/2024

YTD

4.84%

1 Year

10.12%

3 Year

-5.75%

5 Year

7.89%

10 Year

7.03%

Inception
(03/01/2019)

9.91%

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.

Inception performance is based on the Rainier International Discovery Series Class I inception of 03/28/2012. For periods through 03/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class I shares. Because the Class W shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio.

Expense Ratio

Gross 1.07%
Net 0.11%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 05/31/2024

FUGRO NV EUR0.05 2.69%
SOJITZ 1.96%
RHEINMETALL AG NPV 1.88%
FUKUOKA FINANCIAL GROUP 1.84%
BABCOCK INTL GROUP ORD GBP0.60 1.82%
HOWDEN JOINERY GR ORD GBP0.10 1.82%
TFI INTERNATIONAL COM NPV 1.76%
ELEMENT FLEET MGMT COM NPV 1.76%
SAAB AB NPV B 1.68%
CORPORACION INMOBI COM NPV 1.60%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 05/31/2024

Japan
17.70%
United Kingdom
13.28%
India
9.70%
Canada
8.31%
Netherlands
5.98%
Taiwan
5.65%
Sweden
5.63%
Germany
5.55%
Australia
5.37%
Denmark
4.70%
France
3.73%
Mexico
3.36%
Italy
1.94%
South Korea
1.67%
Finland
1.39%
China
1.35%
Norway
1.16%
Greece
0.98%
Spain
0.94%
Luxembourg
0.88%
Austria
0.72%

Sector Allocation

As of 05/31/2024

Industrials
30.83%
Information Technology
18.73%
Consumer Discretionary
11.28%
Financials
10.74%
Health Care
7.23%
Communication Services
6.31%
Real Estate
5.60%
Consumer Staples
3.64%
Energy
2.76%
Utilities
2.15%
Materials
0.72%

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 EUR0.25 NL 78,308 $3,708,187.01
AKER SOLUTIONS ASA NOK1.08 NO 1,242,858 $5,413,327.07
ALK-ABELLO A/S SERBDKK0.50 DK 240,021 $5,330,927.65
ALS LIMITED NPV AU 488,333 $4,582,446.31
ALSEA SAB DE CV COM NPV MX 1,278,607 $5,062,394.50
ALTEN SA NPV FR 24,963 $3,189,650.32
AMADA CO LTD NPV JP 302,000 $3,403,493.59
ASAHI INTECC CO LT NPV JP 255,300 $3,674,877.34
ASHTEAD TECHNOLOGY ORD GBP0.05 GB 368,389 $3,864,830.89
ASPEED TECHNOLOGY TWD10 TW 33,000 $3,713,187.63
ATS CORP COM NPV CA 49,953 $1,591,137.63
AUTO TRADER GROUP ORD GBP1.50 GB 548,750 $5,702,532.30
B N M EUROPEAN VAL ORD GBP0.1 (DI) LU 588,510 $4,080,638.42
BABCOCK INTL GROUP ORD GBP0.60 GB 1,179,505 $8,492,372.31
BE SEMICONDUCTOR EUR0.01 NL 29,373 $4,304,789.39
BIOGAIA AB SERBNPV SE 288,619 $3,507,160.48
BRUNELLO CUCINELLI NPV IT 48,362 $4,853,790.23
CAE INC COM NPV CA 135,523 $2,544,132.03
CARSALES.COM LTD NPV AU 185,247 $4,298,396.27
CHEMOMETEC A/S DKK1 DK 30,504 $1,612,507.14
CLASSYS INC KRW100 KR 112,091 $4,003,394.57
CORPORACION INMOBI COM NPV MX 2,155,000 $7,458,181.60
COSMAX INC KRW500 KR 30,569 $3,753,371.13
CREDITACCESS GRAME INR10 IN 186,353 $2,951,977.53
CTS EVENTIM NPV DE 67,420 $5,811,377.47
DAIEI KANKYO CO LT NPV JP 268,000 $4,234,585.89
DAIFUKU CO LTD NPV JP 277,300 $4,841,213.85
DESCARTES SYSTEMS COM NPV CA 61,597 $5,687,267.30
DIPLOMA ORD GBP0.05 GB 91,501 $4,767,142.08
DOMINOS PIZZA GRP ORD GBP0.00520833 GB 581,684 $2,466,198.23
E INK HOLDINGS INC TWD10 TW 580,000 $3,930,048.77
ECLAT TEXTILE CO TWD10 TW 154,000 $2,305,673.89
ELEMENT FLEET MGMT COM NPV CA 460,068 $8,174,336.62
EMEMORY TECHNOLOGY TWD10 TW 79,000 $5,365,191.08
ERG SPA EUR0.10 IT 148,833 $4,155,660.26
EURONEXT EUR1.60 FR 74,673 $7,324,223.55
FORTNOX AB NPV SE 381,253 $2,351,202.75
FUGRO NV EUR0.05 NL 470,226 $12,516,904.51
FUKUOKA FINANCIAL GROUP JP 293,500 $8,552,206.56
GERRESHEIMER AG NPV (BR) DE 34,959 $3,984,906.49
GIGA-BYTE TECH TWD10 TW 325,000 $3,190,405.63
GRUMA SAB DE CV SER'B' NPV MX 161,455 $3,117,666.84
GTT EUR0.01 FR 51,235 $7,447,613.87
HALMA ORD GBP0.10 GB 173,030 $4,903,917.98
HAMMOND POWER SOLUTIONS INC CA4085491039 CA 35,490 $2,894,342.74
HOWDEN JOINERY GR ORD GBP0.10 GB 733,459 $8,474,598.00
HYGEIA HEALTHCARE USD0.00001 HK 804,200 $3,366,530.96
INDIAN HOTELS INR1 (POST SUBDIVISION) IN 507,531 $3,380,955.87
INDRA SISTEMAS ES 191,018 $4,375,488.87
INTERMED CAP GRP ORD GBP0.2625 GB 231,303 $6,802,834.03
INTERNET INITIATIV NPV JP 207,400 $2,922,697.51
JAPAN HOTEL REIT I REIT JP 11,803 $5,873,521.91
JUMBO SA EUR0.88 GR 159,725 $4,577,692.94
KAYNES TECHNOLOGY INR10 IN 118,310 $4,801,142.65
Kfin Technologies Ltd. INR10 IN 451,667 $3,764,196.04
KINAXIS INC COM NPV CA 35,207 $3,782,463.52
KONECRANES OYJ NPV FI 60,757 $3,469,380.24
KPIT TECHNOLOGIES INR10 IN 144,736 $2,525,689.48
KRONES AG ORD NPV DE 21,657 $2,962,365.74
KYOTO FINANCIAL GR NPV JP 188,700 $3,383,259.09
LAGERCRANTZ GROUP AB-B SHS LAGRB SE0014990966 SE 213,886 $3,636,216.56
LANDT FINANCE HOLDIN INR10 IN 1,482,145 $2,718,497.68
MAX HEALTHCARE INS INR10 IN 407,739 $3,674,334.29
MEGAPORT LTD NPV AU 407,943 $3,678,861.79
MORINAGA AND CO NPV JP 208,200 $3,324,151.58
NETCOMPANY GROUP DKK1 DK 80,609 $3,529,070.87
NHPC LTD INR10 IN 4,556,452 $5,846,276.52
NIFCO INC NPV JP 155,000 $3,696,840.50
NIHON MNA CENTER I NPV JP 424,400 $1,965,022.37
NIKON CORP JP 460,400 $4,775,538.52
NKT A/S DKK20 DK 62,291 $5,376,244.49
NOMURA REAL ESTATE HOLDINGS JP 122,300 $3,143,400.68
NORDNET AB NPV SE 263,771 $5,236,696.54
OXFORD INSTRUMENTS ORD GBP0.05 GB 119,371 $3,799,578.93
PHOENIX MILLS INR2 IN 155,446 $5,808,792.41
PRO MEDICUS NPV AU 56,304 $4,497,890.42
QT GROUP OYJ NPV FI 34,089 $2,995,718.14
RHEINMETALL AG NPV DE 15,295 $8,763,724.21
RIGHTMOVE ORD GBP0.001 GB 931,278 $6,322,169.20
RINGKJOBING LNDOBK DKK1 DK 33,658 $6,025,490.85
RINNAI CORP JP 173,400 $4,158,863.47
ROHTO PHARM NPV JP 196,600 $3,454,214.90
SAAB AB NPV B SE 324,892 $7,827,904.08
SCOUT24 AG NPV DE 57,408 $4,312,691.04
SINBON ELECTRONICS TWD10 TW 410,000 $3,721,059.46
SOBHA LIMITED INR10 IN 166,583 $3,796,806.18
SOCIONEXT INC NPV JP 77,000 $2,243,189.41
SOJITZ JP 349,500 $9,127,544.62
SOPRA STERIA GROUP EUR1.00 FR 28,574 $6,743,733.74
STEADFAST GROUP LI NPV AU 882,299 $3,238,986.68
TAKEUCHI MFG CO NPV JP 144,200 $5,588,329.25
TECHNOLOGY ONE NPV AU 398,653 $4,713,907.88
TFI INTERNATIONAL COM NPV CA 62,040 $8,207,676.04
TOROMONT INDUSTRIE COM STK NPV CA 66,106 $5,772,848.36
TOYO TIRE AND RUBBER NPV JP 225,400 $4,019,749.28
TRAINLINE PLC ORD GBP1 (WI) GB 699,341 $2,861,748.68
TRELLEBORG AB SERBNPV SE 94,224 $3,664,246.76
TRIVENI TURBINE LT INR1 IN 372,296 $2,616,781.98
US DOLLARS US 30,834,482.47 $30,834,482.47
VARUN BEVERAGES INR5(POST SUBD) IN 191,547 $3,271,303.90
VOLTRONIC POWER TE TWD10 TW 77,498 $4,055,044.45
WHITBREAD ORD GBP0.76797385 GB 88,936 $3,343,779.80
WIENERBERGER AG NPV AT 89,622 $3,356,630.69
YADEA GROUP HOLDIN USD0.00001 HK 1,832,000 $2,922,451.38

Investments will change over time.

Distributions

  • 2024 Distribution Calendar
  • 2024 Distributions
  • 2023 Distributions
  • 2022 Distributions
  • 2021 Distributions
  • 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.

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

View all Preferences