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

$29.50

Daily $ Change

$0.15

Daily % Change

0.51%

as of 10/08/2025

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
Proxy Voting Record
Applications & Forms
N-Port Part F Reports
Financial Statements and Other Information

Performance

As of 09/30/2025

YTD

28.90%

1 Year

20.88%

3 Year

16.01%

5 Year

6.15%

10 Year

8.80%

Inception
(03/28/2012)

10.70%

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 1.06%
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 09/30/2025

BABCOCK INTL GROUP ORD GBP0.60 3.64%
EURONEXT EUR1.60 2.54%
SWISSQUOTE GP HLDG CHF0.20 (REGD) 2.52%
DEFINITY FINL CORP COM NPV 2.43%
OR Royalties Inc. COM 2.40%
ALK-ABELLO A/S SERBDKK0.50 2.25%
ELEMENT FLEET MGMT COM NPV 2.13%
KYOTO FINANCIAL GR NPV 2.12%
SOJITZ 2.05%
SCOUT24 AG NPV 2.01%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 09/30/2025

Japan
24.16%
United Kingdom
12.64%
Canada
11.92%
Denmark
7.00%
Sweden
6.30%
India
5.13%
South Korea
4.38%
Australia
4.35%
China
4.15%
Germany
3.92%
Netherlands
3.19%
Switzerland
2.52%
France
2.45%
Taiwan
2.10%
Israel
1.18%
Finland
1.12%
Austria
0.95%
Italy
0.94%
Greece
0.87%
Malaysia
0.46%
Poland
0.25%

Sector Allocation

As of 09/30/2025

Industrials
32.72%
Financials
22.41%
Information Technology
15.65%
Materials
7.29%
Communication Services
6.71%
Consumer Discretionary
6.50%
Health Care
4.49%
Real Estate
1.50%
Energy
1.46%
Consumer Staples
0.73%
Utilities
0.55%

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)
360 ONE WAM LTD INR1(POST SUBD) IN 263,394 $3,036,682.78
AAC TECHNOLOGIES H USD0.01 HK 461,500 $2,713,100.87
ALK-ABELLO A/S SERBDKK0.50 DK 279,625 $9,172,939.49
ALM. BRAND DKK1 DK 1,047,427 $2,924,907.91
ALS LIMITED NPV AU 394,521 $5,208,458.35
ALTIUS MINERALS CO COM NPV CA 248,405 $5,975,359.60
ASPEED TECHNOLOGY TWD10 TW 31,000 $5,136,491.90
AUTO1 GRP NPV DE 145,786 $4,967,657.95
BABCOCK INTL GROUP ORD GBP0.60 GB 827,923 $14,824,064.81
BAYCURRENT CONSULT NPV JP 106,900 $6,297,389.71
BE SEMICONDUCTOR EUR0.01 NL 17,765 $2,647,851.04
BRUNELLO CUCINELLI NPV IT 35,084 $3,833,804.10
BUDIMEX SA PLN5.00 PL 7,383 $1,036,267.65
CARTRADE TECH LTD INR10 IN 132,427 $3,654,359.52
CELESTICA INC COM NPV CA 13,181 $3,244,284.22
CELLEBRITE DI LTD ORDINARY SHARES US CLBT 98,737 $1,829,596.61
CLASSYS INC KRW100 KR 60,926 $2,192,910.45
CLOUD MUSIC INC USD0.0001 HK 103,400 $3,452,691.38
COSMAX INC KRW500 KR 11,387 $1,740,858.49
COWELL E HOLDINGS USD0.004 HK 859,743 $4,309,544.11
CTS EVENTIM NPV DE 28,496 $2,792,465.52
DAIEI KANKYO CO LT NPV JP 221,000 $5,005,552.36
DEFINITY FINL CORP COM NPV CA 192,536 $9,898,016.44
DIPLOMA ORD GBP0.05 GB 101,691 $7,262,625.04
ELEMENT FLEET MGMT COM NPV CA 335,731 $8,696,094.03
EMEMORY TECHNOLOGY TWD10 TW 32,000 $2,115,624.38
EURONEXT EUR1.60 FR 69,245 $10,365,630.28
FLSMIDTH N CO. A/S DK 85,798 $6,023,471.23
FUKUOKA FINANCIAL GROUP JP 237,200 $7,127,965.60
FUSO CHEMICAL CO NPV JP 115,800 $3,842,096.35
GENERATION DEVELOP NPV AU 546,809 $2,522,287.75
GTT EUR0.01 FR 32,023 $5,930,019.14
HALMA ORD GBP0.10 GB 140,632 $6,531,741.14
HD HYUNDAI MARIN.S KRW500 KR 21,095 $3,157,371.44
HELIOS TOWERS PLC ORD GBP0.01 GB 1,756,455 $3,523,295.04
HOWDEN JOINERY GR ORD GBP0.10 GB 313,712 $3,562,393.87
HYOSUNG HEAVY INDU KRW5000 KR 4,487 $4,285,364.03
ICG PLC ORD GBP0.2625 GB 100,106 $2,999,929.06
IMDEX LTD NPV AU 1,184,924 $2,646,489.24
INFOMART CORPORATI NPV JP 759,300 $1,717,210.28
INSOURCE CO LTD NPV JP 439,100 $2,860,237.67
INTERNET INITIATIV NPV JP 95,500 $1,693,244.07
JAPAN ELEVATOR SER NPV JP 621,400 $7,897,672.75
JAPAN STEEL WORKS JP 105,200 $6,410,942.21
JBCC HOLDINGS INC NPV JP 326,700 $2,893,480.04
JUMBO SA EUR0.88 GR 103,436 $3,551,319.91
KAYNES TECHNOLOGY INR10 IN 44,384 $3,528,175.27
KINAXIS INC COM NPV CA 31,789 $4,104,422.78
KINGDEE INTL SOFTW HKD0.025 HK 2,076,000 $4,674,762.22
KINGSOFT CLOUD HLD USD0.001 HK 1,662,000 $1,753,768.44
KONECRANES OYJ NPV FI 55,482 $4,576,432.77
KYOTO FINANCIAL GR NPV JP 406,000 $8,648,650.84
L.T. FOODS LTD INR1 IN 271,858 $1,243,264.95
LAGERCRANTZ GROUP AB-B SHS LAGRB SE0014990966 SE 306,117 $6,587,711.01
MAX HEALTHCARE INS INR10 IN 221,191 $2,779,811.38
MEBUKIFINANCIAL G NPV JP 629,700 $4,034,412.03
MILDEF GROUP AB NPV SE 108,048 $2,334,409.37
MITSUI ENG N SHIPBUILDING JP 198,300 $6,008,684.02
MNC SOLUTION CO LT KRW100 KR 25,523 $4,047,516.13
MULTI COMMODITY EX INR10 IN 50,110 $4,400,164.67
MUNTERS GROUP AB NPV SE 104,211 $1,239,881.65
NETCOMPANY GROUP DKK1 DK 3,730 $141,853.67
NEXT VISION STABIL NPV IL 65,735 $2,984,788.86
NHPC LTD INR10 IN 2,309,157 $2,244,431.29
NIKON CORP JP 140,300 $1,638,741.24
NOMURA REAL ESTATE HOLDINGS JP 308,200 $1,970,217.83
NORDNET AB NPV SE 240,204 $6,972,354.57
OR Royalties Inc. COM CA 244,222 $9,790,644.79
PAL GROUP HOLDINGS NPV JP 228,600 $3,885,201.61
PHARMAESSENTIA COR TWD10 TW 86,559 $1,462,625.01
PRO MEDICUS NPV AU 13,766 $2,812,658.07
RIGHTMOVE ORD GBP0.001 GB 517,520 $4,936,896.27
RINGKJOBING LNDOBK DKK1 DK 30,973 $7,186,469.27
RINNAI CORP JP 106,312 $2,523,816.72
SAAB AB NPV B SE 81,231 $4,961,904.66
SCOUT24 AG NPV DE 65,563 $8,212,093.57
SOJITZ JP 315,400 $8,363,113.38
SOPRA STERIA GROUP EUR1.00 FR 11,354 $2,158,565.71
SSAB AB SE 612,037 $3,553,095.68
ST JAMES'S PLACE ORD GBP0.15 GB 459,448 $7,855,354.75
SWCC SHOWA HOLDING NPV JP 118,800 $6,250,303.01
SWISSQUOTE GP HLDG CHF0.20 (REGD) CH 14,695 $10,259,627.35
SYDBANK DKK10 DK 38,415 $3,086,962.84
TECHNOLOGY ONE NPV AU 177,775 $4,531,371.86
TFI INTERNATIONAL COM NPV CA 25,273 $2,224,692.42
THK JP 91,500 $2,535,247.32
TOROMONT INDUSTRIE COM STK NPV CA 41,875 $4,650,370.13
TOSEI CORPORATION NPV JP 174,900 $4,121,285.17
U-NEXT HOLDINGS CO NPV JP 186,400 $2,723,710.60
US DOLLARS US USD 12,161,741.31 $12,161,741.31
VUSIONGROUP EUR2 FR 6,315 $1,892,131.88
WESTPORTS HOLDINGS MYR0.1 MY 1,457,300 $1,856,036.12
WIENERBERGER AG NPV AT 120,598 $3,885,486.66
WOONGJIN COWAY KR 34,521 $2,423,519.12

Investments will change over time.

Distributions

  • 2025 Distribution Calendar
  • 2025 Distributions
  • 2024 Distributions
  • 2023 Distributions
  • 2022 Distributions
  • 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.

Daily Price

$29.50

Daily $ Change

$0.15

Daily % Change

0.51%

as of 10/08/2025

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
Proxy Voting Record
Applications & Forms
N-Port Part F Reports
Financial Statements and Other Information

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 09/30/2025

YTD

28.90%

1 Year

20.88%

3 Year

16.01%

5 Year

6.15%

10 Year

8.80%

Inception
(03/28/2012)

10.70%

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 1.06%
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 09/30/2025

BABCOCK INTL GROUP ORD GBP0.60 3.64%
EURONEXT EUR1.60 2.54%
SWISSQUOTE GP HLDG CHF0.20 (REGD) 2.52%
DEFINITY FINL CORP COM NPV 2.43%
OR Royalties Inc. COM 2.40%
ALK-ABELLO A/S SERBDKK0.50 2.25%
ELEMENT FLEET MGMT COM NPV 2.13%
KYOTO FINANCIAL GR NPV 2.12%
SOJITZ 2.05%
SCOUT24 AG NPV 2.01%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 09/30/2025

Japan
24.16%
United Kingdom
12.64%
Canada
11.92%
Denmark
7.00%
Sweden
6.30%
India
5.13%
South Korea
4.38%
Australia
4.35%
China
4.15%
Germany
3.92%
Netherlands
3.19%
Switzerland
2.52%
France
2.45%
Taiwan
2.10%
Israel
1.18%
Finland
1.12%
Austria
0.95%
Italy
0.94%
Greece
0.87%
Malaysia
0.46%
Poland
0.25%

Sector Allocation

As of 09/30/2025

Industrials
32.72%
Financials
22.41%
Information Technology
15.65%
Materials
7.29%
Communication Services
6.71%
Consumer Discretionary
6.50%
Health Care
4.49%
Real Estate
1.50%
Energy
1.46%
Consumer Staples
0.73%
Utilities
0.55%

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)
360 ONE WAM LTD INR1(POST SUBD) IN 263,394 $3,036,682.78
AAC TECHNOLOGIES H USD0.01 HK 461,500 $2,713,100.87
ALK-ABELLO A/S SERBDKK0.50 DK 279,625 $9,172,939.49
ALM. BRAND DKK1 DK 1,047,427 $2,924,907.91
ALS LIMITED NPV AU 394,521 $5,208,458.35
ALTIUS MINERALS CO COM NPV CA 248,405 $5,975,359.60
ASPEED TECHNOLOGY TWD10 TW 31,000 $5,136,491.90
AUTO1 GRP NPV DE 145,786 $4,967,657.95
BABCOCK INTL GROUP ORD GBP0.60 GB 827,923 $14,824,064.81
BAYCURRENT CONSULT NPV JP 106,900 $6,297,389.71
BE SEMICONDUCTOR EUR0.01 NL 17,765 $2,647,851.04
BRUNELLO CUCINELLI NPV IT 35,084 $3,833,804.10
BUDIMEX SA PLN5.00 PL 7,383 $1,036,267.65
CARTRADE TECH LTD INR10 IN 132,427 $3,654,359.52
CELESTICA INC COM NPV CA 13,181 $3,244,284.22
CELLEBRITE DI LTD ORDINARY SHARES US CLBT 98,737 $1,829,596.61
CLASSYS INC KRW100 KR 60,926 $2,192,910.45
CLOUD MUSIC INC USD0.0001 HK 103,400 $3,452,691.38
COSMAX INC KRW500 KR 11,387 $1,740,858.49
COWELL E HOLDINGS USD0.004 HK 859,743 $4,309,544.11
CTS EVENTIM NPV DE 28,496 $2,792,465.52
DAIEI KANKYO CO LT NPV JP 221,000 $5,005,552.36
DEFINITY FINL CORP COM NPV CA 192,536 $9,898,016.44
DIPLOMA ORD GBP0.05 GB 101,691 $7,262,625.04
ELEMENT FLEET MGMT COM NPV CA 335,731 $8,696,094.03
EMEMORY TECHNOLOGY TWD10 TW 32,000 $2,115,624.38
EURONEXT EUR1.60 FR 69,245 $10,365,630.28
FLSMIDTH N CO. A/S DK 85,798 $6,023,471.23
FUKUOKA FINANCIAL GROUP JP 237,200 $7,127,965.60
FUSO CHEMICAL CO NPV JP 115,800 $3,842,096.35
GENERATION DEVELOP NPV AU 546,809 $2,522,287.75
GTT EUR0.01 FR 32,023 $5,930,019.14
HALMA ORD GBP0.10 GB 140,632 $6,531,741.14
HD HYUNDAI MARIN.S KRW500 KR 21,095 $3,157,371.44
HELIOS TOWERS PLC ORD GBP0.01 GB 1,756,455 $3,523,295.04
HOWDEN JOINERY GR ORD GBP0.10 GB 313,712 $3,562,393.87
HYOSUNG HEAVY INDU KRW5000 KR 4,487 $4,285,364.03
ICG PLC ORD GBP0.2625 GB 100,106 $2,999,929.06
IMDEX LTD NPV AU 1,184,924 $2,646,489.24
INFOMART CORPORATI NPV JP 759,300 $1,717,210.28
INSOURCE CO LTD NPV JP 439,100 $2,860,237.67
INTERNET INITIATIV NPV JP 95,500 $1,693,244.07
JAPAN ELEVATOR SER NPV JP 621,400 $7,897,672.75
JAPAN STEEL WORKS JP 105,200 $6,410,942.21
JBCC HOLDINGS INC NPV JP 326,700 $2,893,480.04
JUMBO SA EUR0.88 GR 103,436 $3,551,319.91
KAYNES TECHNOLOGY INR10 IN 44,384 $3,528,175.27
KINAXIS INC COM NPV CA 31,789 $4,104,422.78
KINGDEE INTL SOFTW HKD0.025 HK 2,076,000 $4,674,762.22
KINGSOFT CLOUD HLD USD0.001 HK 1,662,000 $1,753,768.44
KONECRANES OYJ NPV FI 55,482 $4,576,432.77
KYOTO FINANCIAL GR NPV JP 406,000 $8,648,650.84
L.T. FOODS LTD INR1 IN 271,858 $1,243,264.95
LAGERCRANTZ GROUP AB-B SHS LAGRB SE0014990966 SE 306,117 $6,587,711.01
MAX HEALTHCARE INS INR10 IN 221,191 $2,779,811.38
MEBUKIFINANCIAL G NPV JP 629,700 $4,034,412.03
MILDEF GROUP AB NPV SE 108,048 $2,334,409.37
MITSUI ENG N SHIPBUILDING JP 198,300 $6,008,684.02
MNC SOLUTION CO LT KRW100 KR 25,523 $4,047,516.13
MULTI COMMODITY EX INR10 IN 50,110 $4,400,164.67
MUNTERS GROUP AB NPV SE 104,211 $1,239,881.65
NETCOMPANY GROUP DKK1 DK 3,730 $141,853.67
NEXT VISION STABIL NPV IL 65,735 $2,984,788.86
NHPC LTD INR10 IN 2,309,157 $2,244,431.29
NIKON CORP JP 140,300 $1,638,741.24
NOMURA REAL ESTATE HOLDINGS JP 308,200 $1,970,217.83
NORDNET AB NPV SE 240,204 $6,972,354.57
OR Royalties Inc. COM CA 244,222 $9,790,644.79
PAL GROUP HOLDINGS NPV JP 228,600 $3,885,201.61
PHARMAESSENTIA COR TWD10 TW 86,559 $1,462,625.01
PRO MEDICUS NPV AU 13,766 $2,812,658.07
RIGHTMOVE ORD GBP0.001 GB 517,520 $4,936,896.27
RINGKJOBING LNDOBK DKK1 DK 30,973 $7,186,469.27
RINNAI CORP JP 106,312 $2,523,816.72
SAAB AB NPV B SE 81,231 $4,961,904.66
SCOUT24 AG NPV DE 65,563 $8,212,093.57
SOJITZ JP 315,400 $8,363,113.38
SOPRA STERIA GROUP EUR1.00 FR 11,354 $2,158,565.71
SSAB AB SE 612,037 $3,553,095.68
ST JAMES'S PLACE ORD GBP0.15 GB 459,448 $7,855,354.75
SWCC SHOWA HOLDING NPV JP 118,800 $6,250,303.01
SWISSQUOTE GP HLDG CHF0.20 (REGD) CH 14,695 $10,259,627.35
SYDBANK DKK10 DK 38,415 $3,086,962.84
TECHNOLOGY ONE NPV AU 177,775 $4,531,371.86
TFI INTERNATIONAL COM NPV CA 25,273 $2,224,692.42
THK JP 91,500 $2,535,247.32
TOROMONT INDUSTRIE COM STK NPV CA 41,875 $4,650,370.13
TOSEI CORPORATION NPV JP 174,900 $4,121,285.17
U-NEXT HOLDINGS CO NPV JP 186,400 $2,723,710.60
US DOLLARS US USD 12,161,741.31 $12,161,741.31
VUSIONGROUP EUR2 FR 6,315 $1,892,131.88
WESTPORTS HOLDINGS MYR0.1 MY 1,457,300 $1,856,036.12
WIENERBERGER AG NPV AT 120,598 $3,885,486.66
WOONGJIN COWAY KR 34,521 $2,423,519.12

Investments will change over time.

Distributions

  • 2025 Distribution Calendar
  • 2025 Distributions
  • 2024 Distributions
  • 2023 Distributions
  • 2022 Distributions
  • 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.

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

View all Preferences