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

$23.39

Daily $ Change

$0.05

Daily % Change

0.21%

as of 02/27/2024

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 01/31/2024

YTD

-1.14%

1 Year

-0.05%

3 Year

-4.34%

5 Year

7.93%

10 Year

7.12%

Inception
(03/01/2019)

9.65%

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 1.02%
Net 0.10%*

*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 01/31/2024

VARUN BEVERAGES ltd 2.59%
INDIAN HOTELS CO LIMITED 2.38%
RHEINMETALL AG 2.13%
TFI INTERNATIONAL INC 1.95%
FUGRO NV-CVA 1.87%
INTERNET INITIATIVE JAPAN 1.84%
NHPC LTD 1.81%
SAAB AB-B 1.80%
SOJITZ CORP 1.72%
ELEMENT FLEET MANAGEMENT COR 1.70%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 01/31/2024

Japan
18.90%
United Kingdom
13.89%
India
12.31%
Canada
9.54%
Australia
6.40%
Taiwan
6.22%
Germany
5.40%
France
5.10%
Netherlands
4.72%
Sweden
4.58%
Mexico
3.50%
Denmark
2.26%
Italy
2.16%
Norway
1.65%
Indonesia
1.19%
Greece
0.98%
Austria
0.61%
South Korea
0.59%

Sector Allocation

As of 01/31/2024

Communication Services
7.06%
Consumer Discretionary
13.38%
Consumer Staples
6.45%
Energy
3.71%
Financials
9.90%
Health Care
5.76%
Industrials
27.73%
Information Technology
17.88%
Materials
2.03%
Real Estate
3.63%
Utilities
2.47%

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 59,867 $2,380,809.85
AIXTRON AG DE AIXA GR 123,467 $4,595,221.94
AKER SOLUTIONS ASA NO AKSO NO 2,337,602 $8,670,216.66
ALS LTD AU ALQ AU 642,723 $5,280,633.79
ALSEA SAB DE DV MX ALSEA* MM 1,452,907 $5,700,538.00
ALTEN SA FR ATE FP 45,473 $7,031,044.72
AMVIS HOLDINGS INC JP 7071 JP 206,086 $3,796,731.25
APL APOLLO TUBES LTD IN APAT IN 290,949 $5,273,054.13
ASAHI INTECC CO LTD JP 7747 JP 366,900 $6,971,431.00
ASHTEAD TECHNOLOGY HOLDINGS GB AT/ LN 284,572 $2,380,211.43
ASPEED TECHNOLOGY INC TW 5274 TT 39,000 $3,830,569.44
ATS CORP CA ATS CN 100,906 $4,316,340.56
AUTO TRADER GROUP PLC GB AUTO LN 630,043 $5,796,321.24
B&M EUROPEAN VALUE RETAIL SA GB BME LN 730,169 $4,785,324.32
BABCOCK INTL GROUP PLC GB BAB LN 1,255,776 $7,177,068.08
BE SEMICONDUCTOR NL BESI NA 34,846 $5,236,597.68
BIOGAIA AB-B SHS SE BIOGB SS 416,779 $4,509,550.66
BRUNELLO CUCINELLI SPA IT BC IM 79,690 $7,900,218.90
CAE INC CA CAE CN 412,762 $8,264,757.37
CARSALES.COM LTD AU CAR AU 213,732 $4,589,106.45
CORP INMOBILIARIA MX VESTA MM 2,342,300 $8,900,236.47
CREDITACCESS GRAMEEN LTD IN CREDAG IN 348,742 $6,693,050.97
CTS EVENTIM AG & CO KGAA DE EVD GR 67,016 $4,535,454.60
DAIEI KANKYO CO LTD JP 9336 JP 272,600 $4,637,565.22
DAIFUKU CO LTD JP 6383 JP 250,600 $4,941,831.09
DESCARTES SYSTEMS GRP/THE CA DSG CN 75,310 $6,594,141.25
DIPLOMA PLC GB DPLM LN 101,278 $4,174,854.31
DOMINO'S PIZZA GROUP PLC GB DOM LN 979,411 $4,325,304.25
DREYFUS GVT CSH MANAGEMENT US 24,860,100.72 $24,860,100.72
E INK HOLDINGS INC TW 8069 TT 478,000 $3,169,957.12
ECLAT TEXTILE COMPANY LTD TW 1476 TT 167,000 $2,914,696.93
ELEMENT FLEET MANAGEMENT COR CA EFN CN 529,749 $8,936,522.24
EMEMORY TECHNOLOGY INC TW 3529 TT 94,000 $8,383,814.10
ERG SPA IT ERG IM 118,621 $3,478,266.22
EURONEXT NV NL ENX FP 84,146 $7,401,243.22
FORTNOX AB SE FNOX SS 442,908 $2,441,879.81
FUGRO NV-CVA NL FUR NA 532,641 $9,834,062.01
FUKUOKA FINANCIAL GROUP INC JP 8354 JP 248,400 $6,104,999.50
GAZTRANSPORT ET TECHNIGA SA FR GTT FP 54,914 $7,698,811.94
GIGABYTE TECHNOLOGY CO LTD TW 2376 TT 467,000 $4,621,239.09
GMO PAYMENT GATEWAY INC JP 3769 JP 46,300 $2,793,664.51
GRUMA S.A.B.-B MX GRUMAB MM 202,963 $3,797,117.39
HALMA PLC GB HLMA LN 196,955 $5,451,537.25
HOWDEN JOINERY GROUP INC GB HWDN LN 729,325 $7,385,792.48
HPSP CO LTD KR 92,453 $3,099,016.11
HUGO BOSS AG DE BOSS GR 51,884 $3,240,396.69
INDIAN HOTELS CO LIMITED IN IH IN 2,116,188 $12,548,610.80
INTERMEDIATE CAPITAL GROUP GB ICP LN 253,483 $5,714,802.72
INTERNET INITIATIVE JAPAN JP 3774 JP 498,400 $9,664,681.20
ISS A/S DK ISS DC 218,942 $4,142,818.55
JAPAN AIRPORT TERMINAL CO JP 9706 JP 107,100 $4,253,256.63
JAPAN HOTEL REIT INVESTMENT JP 8985 JP 9,278 $4,767,950.18
JUMBO SA GR 183,488 $5,155,682.52
KALBE FARMA TBK PT ID KLBF IJ 23,347,400 $2,234,426.41
KANEKA CORP JP 4118 JP 89,500 $2,176,409.74
KAYNES TECHNOLOGY INDIA LTD IN KAYNES IN 99,982 $3,423,578.62
KINAXIS INC CA KXS CN 40,904 $4,981,072.47
KOTOBUKI SPIRITS CO LTD JP 2222 JP 172,900 $2,326,307.10
KPIT TECHNOLOGIES LTD IN KPITTECH IN 157,313 $2,937,934.84
MAX HEALTHCARE INSTITUTE LTD IN MAXHEALT IN 564,802 $5,311,496.84
MEGAPORT LTD AU MP1 AU 422,549 $3,450,623.01
MORINAGA & CO LTD JP 2201 JP 241,600 $4,611,144.83
NETCOMPANY GROUP AS DK NETC DC 47,429 $1,891,868.86
NHPC LTD IN NHPC IN 8,694,882 $9,530,950.34
NIFCO INC JP 7988 JP 168,400 $4,370,107.04
NIKON CORP JP 7731 JP 481,800 $4,917,027.24
NORDNET AB PUBL SE SAVE SS 240,293 $3,781,142.85
OXFORD INSTRUMENTS PLC GB OXIG LN 129,744 $3,650,225.48
PARK24 CO LTD JP 4666 JP 441,200 $5,765,067.98
PHOENIX MILLS LTD IN PHNX IN 185,498 $5,426,926.72
PRO MEDICUS LTD AU PME AU 86,696 $5,711,451.13
RHEINMETALL AG DE RHM GR 31,973 $11,196,011.89
RIGHTMOVE PLC GB RMV LN 1,089,227 $7,708,648.44
RINGKJOEBING LANDBOBANK DK RILBA DC 19,707 $3,176,251.54
ROHTO PHARMACEUTICAL CO LTD JP 4527 JP 272,200 $5,569,656.74
S.O.I.T.E.C. FR SOI FP 17,229 $2,490,092.06
SAAB AB-B SE SAABB SS 147,015 $9,466,435.32
SCOUT24 AG DE G24 GR 65,995 $4,859,230.93
SINBON ELECTRONICS CO LTD TW 3023 TT 726,000 $5,977,201.97
SMS CO LTC JP 2175 JP 147,700 $2,667,481.69
SOJITZ CORP JP 2768 JP 382,700 $9,032,264.65
SOPRA STERIA GROUP FR SOP FP 27,442 $6,436,633.65
SSP GROUP PLC GB SSPG LN 1,030,728 $2,933,429.36
STEADFAST GROUP LTD AU SDF AU 1,249,998 $4,836,710.23
SUMBER ALFARIA TRIJAYA ID AMRT IJ 23,988,784 $4,026,141.75
TAKEUCHI MFG CO LTD JP 6432 JP 102,200 $3,493,988.96
TECHNIP ENERGIES NV FR TE FP 152,661 $3,160,170.99
TECHNOLOGY ONE LTD AU TNE AU 433,293 $4,427,038.12
TECHNOPRO HOLDINGS INC JP 6028 JP 290,500 $6,697,428.91
TFI INTERNATIONAL INC CA TFII CN 78,234 $10,281,650.83
TOPDANMARK A/S DK TOP DC 60,567 $2,686,044.09
TOROMONT INDUSTRIES LTD CA TIH CN 78,073 $6,838,392.26
TRAINLINE PLC GB TRN LN 892,966 $3,738,990.80
TRELLEBORG AB-B SHS SE TRELB SS 68,358 $2,080,626.30
VARUN BEVERAGES ltd IN VBL IN 884,015 $13,637,244.89
VOLTRONIC POWER TECHNOLOGY TW 6409 TT 89,498 $3,827,187.52
WATCHES OF SWITZERLAND GROUP GB WOSG LN 264,976 $1,247,890.63
WHITBREAD PLC GB WTB LN 146,281 $6,630,618.59
WIENERBERGER AG AT WIE AV 94,727 $3,210,107.40
WORLEY LTD AU WOR AU 558,286 $5,361,510.60
XVIVO PERFUSION AB SE XVIVO SS 64,722 $1,798,640.96

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class W Distribution History
  • 2024 Distribution Calendar
  • 2024 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

$23.39

Daily $ Change

$0.05

Daily % Change

0.21%

as of 02/27/2024

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 01/31/2024

YTD

-1.14%

1 Year

-0.05%

3 Year

-4.34%

5 Year

7.93%

10 Year

7.12%

Inception
(03/01/2019)

9.65%

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 1.02%
Net 0.10%*

*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 01/31/2024

VARUN BEVERAGES ltd 2.59%
INDIAN HOTELS CO LIMITED 2.38%
RHEINMETALL AG 2.13%
TFI INTERNATIONAL INC 1.95%
FUGRO NV-CVA 1.87%
INTERNET INITIATIVE JAPAN 1.84%
NHPC LTD 1.81%
SAAB AB-B 1.80%
SOJITZ CORP 1.72%
ELEMENT FLEET MANAGEMENT COR 1.70%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 01/31/2024

Japan
18.90%
United Kingdom
13.89%
India
12.31%
Canada
9.54%
Australia
6.40%
Taiwan
6.22%
Germany
5.40%
France
5.10%
Netherlands
4.72%
Sweden
4.58%
Mexico
3.50%
Denmark
2.26%
Italy
2.16%
Norway
1.65%
Indonesia
1.19%
Greece
0.98%
Austria
0.61%
South Korea
0.59%

Sector Allocation

As of 01/31/2024

Communication Services
7.06%
Consumer Discretionary
13.38%
Consumer Staples
6.45%
Energy
3.71%
Financials
9.90%
Health Care
5.76%
Industrials
27.73%
Information Technology
17.88%
Materials
2.03%
Real Estate
3.63%
Utilities
2.47%

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 59,867 $2,380,809.85
AIXTRON AG DE AIXA GR 123,467 $4,595,221.94
AKER SOLUTIONS ASA NO AKSO NO 2,337,602 $8,670,216.66
ALS LTD AU ALQ AU 642,723 $5,280,633.79
ALSEA SAB DE DV MX ALSEA* MM 1,452,907 $5,700,538.00
ALTEN SA FR ATE FP 45,473 $7,031,044.72
AMVIS HOLDINGS INC JP 7071 JP 206,086 $3,796,731.25
APL APOLLO TUBES LTD IN APAT IN 290,949 $5,273,054.13
ASAHI INTECC CO LTD JP 7747 JP 366,900 $6,971,431.00
ASHTEAD TECHNOLOGY HOLDINGS GB AT/ LN 284,572 $2,380,211.43
ASPEED TECHNOLOGY INC TW 5274 TT 39,000 $3,830,569.44
ATS CORP CA ATS CN 100,906 $4,316,340.56
AUTO TRADER GROUP PLC GB AUTO LN 630,043 $5,796,321.24
B&M EUROPEAN VALUE RETAIL SA GB BME LN 730,169 $4,785,324.32
BABCOCK INTL GROUP PLC GB BAB LN 1,255,776 $7,177,068.08
BE SEMICONDUCTOR NL BESI NA 34,846 $5,236,597.68
BIOGAIA AB-B SHS SE BIOGB SS 416,779 $4,509,550.66
BRUNELLO CUCINELLI SPA IT BC IM 79,690 $7,900,218.90
CAE INC CA CAE CN 412,762 $8,264,757.37
CARSALES.COM LTD AU CAR AU 213,732 $4,589,106.45
CORP INMOBILIARIA MX VESTA MM 2,342,300 $8,900,236.47
CREDITACCESS GRAMEEN LTD IN CREDAG IN 348,742 $6,693,050.97
CTS EVENTIM AG & CO KGAA DE EVD GR 67,016 $4,535,454.60
DAIEI KANKYO CO LTD JP 9336 JP 272,600 $4,637,565.22
DAIFUKU CO LTD JP 6383 JP 250,600 $4,941,831.09
DESCARTES SYSTEMS GRP/THE CA DSG CN 75,310 $6,594,141.25
DIPLOMA PLC GB DPLM LN 101,278 $4,174,854.31
DOMINO'S PIZZA GROUP PLC GB DOM LN 979,411 $4,325,304.25
DREYFUS GVT CSH MANAGEMENT US 24,860,100.72 $24,860,100.72
E INK HOLDINGS INC TW 8069 TT 478,000 $3,169,957.12
ECLAT TEXTILE COMPANY LTD TW 1476 TT 167,000 $2,914,696.93
ELEMENT FLEET MANAGEMENT COR CA EFN CN 529,749 $8,936,522.24
EMEMORY TECHNOLOGY INC TW 3529 TT 94,000 $8,383,814.10
ERG SPA IT ERG IM 118,621 $3,478,266.22
EURONEXT NV NL ENX FP 84,146 $7,401,243.22
FORTNOX AB SE FNOX SS 442,908 $2,441,879.81
FUGRO NV-CVA NL FUR NA 532,641 $9,834,062.01
FUKUOKA FINANCIAL GROUP INC JP 8354 JP 248,400 $6,104,999.50
GAZTRANSPORT ET TECHNIGA SA FR GTT FP 54,914 $7,698,811.94
GIGABYTE TECHNOLOGY CO LTD TW 2376 TT 467,000 $4,621,239.09
GMO PAYMENT GATEWAY INC JP 3769 JP 46,300 $2,793,664.51
GRUMA S.A.B.-B MX GRUMAB MM 202,963 $3,797,117.39
HALMA PLC GB HLMA LN 196,955 $5,451,537.25
HOWDEN JOINERY GROUP INC GB HWDN LN 729,325 $7,385,792.48
HPSP CO LTD KR 92,453 $3,099,016.11
HUGO BOSS AG DE BOSS GR 51,884 $3,240,396.69
INDIAN HOTELS CO LIMITED IN IH IN 2,116,188 $12,548,610.80
INTERMEDIATE CAPITAL GROUP GB ICP LN 253,483 $5,714,802.72
INTERNET INITIATIVE JAPAN JP 3774 JP 498,400 $9,664,681.20
ISS A/S DK ISS DC 218,942 $4,142,818.55
JAPAN AIRPORT TERMINAL CO JP 9706 JP 107,100 $4,253,256.63
JAPAN HOTEL REIT INVESTMENT JP 8985 JP 9,278 $4,767,950.18
JUMBO SA GR 183,488 $5,155,682.52
KALBE FARMA TBK PT ID KLBF IJ 23,347,400 $2,234,426.41
KANEKA CORP JP 4118 JP 89,500 $2,176,409.74
KAYNES TECHNOLOGY INDIA LTD IN KAYNES IN 99,982 $3,423,578.62
KINAXIS INC CA KXS CN 40,904 $4,981,072.47
KOTOBUKI SPIRITS CO LTD JP 2222 JP 172,900 $2,326,307.10
KPIT TECHNOLOGIES LTD IN KPITTECH IN 157,313 $2,937,934.84
MAX HEALTHCARE INSTITUTE LTD IN MAXHEALT IN 564,802 $5,311,496.84
MEGAPORT LTD AU MP1 AU 422,549 $3,450,623.01
MORINAGA & CO LTD JP 2201 JP 241,600 $4,611,144.83
NETCOMPANY GROUP AS DK NETC DC 47,429 $1,891,868.86
NHPC LTD IN NHPC IN 8,694,882 $9,530,950.34
NIFCO INC JP 7988 JP 168,400 $4,370,107.04
NIKON CORP JP 7731 JP 481,800 $4,917,027.24
NORDNET AB PUBL SE SAVE SS 240,293 $3,781,142.85
OXFORD INSTRUMENTS PLC GB OXIG LN 129,744 $3,650,225.48
PARK24 CO LTD JP 4666 JP 441,200 $5,765,067.98
PHOENIX MILLS LTD IN PHNX IN 185,498 $5,426,926.72
PRO MEDICUS LTD AU PME AU 86,696 $5,711,451.13
RHEINMETALL AG DE RHM GR 31,973 $11,196,011.89
RIGHTMOVE PLC GB RMV LN 1,089,227 $7,708,648.44
RINGKJOEBING LANDBOBANK DK RILBA DC 19,707 $3,176,251.54
ROHTO PHARMACEUTICAL CO LTD JP 4527 JP 272,200 $5,569,656.74
S.O.I.T.E.C. FR SOI FP 17,229 $2,490,092.06
SAAB AB-B SE SAABB SS 147,015 $9,466,435.32
SCOUT24 AG DE G24 GR 65,995 $4,859,230.93
SINBON ELECTRONICS CO LTD TW 3023 TT 726,000 $5,977,201.97
SMS CO LTC JP 2175 JP 147,700 $2,667,481.69
SOJITZ CORP JP 2768 JP 382,700 $9,032,264.65
SOPRA STERIA GROUP FR SOP FP 27,442 $6,436,633.65
SSP GROUP PLC GB SSPG LN 1,030,728 $2,933,429.36
STEADFAST GROUP LTD AU SDF AU 1,249,998 $4,836,710.23
SUMBER ALFARIA TRIJAYA ID AMRT IJ 23,988,784 $4,026,141.75
TAKEUCHI MFG CO LTD JP 6432 JP 102,200 $3,493,988.96
TECHNIP ENERGIES NV FR TE FP 152,661 $3,160,170.99
TECHNOLOGY ONE LTD AU TNE AU 433,293 $4,427,038.12
TECHNOPRO HOLDINGS INC JP 6028 JP 290,500 $6,697,428.91
TFI INTERNATIONAL INC CA TFII CN 78,234 $10,281,650.83
TOPDANMARK A/S DK TOP DC 60,567 $2,686,044.09
TOROMONT INDUSTRIES LTD CA TIH CN 78,073 $6,838,392.26
TRAINLINE PLC GB TRN LN 892,966 $3,738,990.80
TRELLEBORG AB-B SHS SE TRELB SS 68,358 $2,080,626.30
VARUN BEVERAGES ltd IN VBL IN 884,015 $13,637,244.89
VOLTRONIC POWER TECHNOLOGY TW 6409 TT 89,498 $3,827,187.52
WATCHES OF SWITZERLAND GROUP GB WOSG LN 264,976 $1,247,890.63
WHITBREAD PLC GB WTB LN 146,281 $6,630,618.59
WIENERBERGER AG AT WIE AV 94,727 $3,210,107.40
WORLEY LTD AU WOR AU 558,286 $5,361,510.60
XVIVO PERFUSION AB SE XVIVO SS 64,722 $1,798,640.96

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class W Distribution History
  • 2024 Distribution Calendar
  • 2024 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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