Rainier International Discovery Series

Disciplined Value Series Equity Series Overseas Series Rainier International Discovery Series Real Estate Series
Class I Class S Class Z Class W

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 the product spotlight

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

$28.92

Daily $ Change

-$0.20

Daily % Change

-0.69%

as of 01/20/2022

Ticker

RAIRX

CUSIP

56382R662

Inception Date

08/21/2017

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans and discretionary investment accounts of the Advisor. Prior to 07/12/2018, the Class Z shares of the Rainier International Discovery Series were designated as the Class R6 shares.

Important Documents

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

Performance

As of 12/31/2021

As of
Month-End Quarter-End

YTD

---

1 Year

14.45%

3 Year

26.58%

5 Year

18.79%

10 Year

---

Inception
(03/28/2012)

14.93%

For periods prior to 08/21/2017, performance for Class Z is based on the historical performance of the Institutional Shares of the Rainier International Discovery Fund (Predecessor Fund), which was managed by Rainier Investment Management, LLC and reorganized into the Manning & Napier Fund, Inc. Rainier International Discovery Series Class I on 08/21/2017. Performance for the Class Z shares will differ to the extent that the Predecessor Fund’s Institutional Shares had a higher expense ratio. 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 1.08%
Net 1.01%*

*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 12/31/2021

As of
Month-End Quarter-End
MIPS AB 2.52%
TELEPERFORMANCE 2.41%
ALK-ABELLO A/S 2.35%
ARJO AB- B SHARES 2.16%
INTERPUMP GROUP SPA 2.05%
TFI INTERNATIONAL INC 2.03%
CANADIAN WESTERN BANK 1.99%
ELECTROCOMPONENTS PLC 1.95%
ROYAL UNIBREW 1.93%
AALBERTS NV 1.86%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 12/31/2021

As of
Month-End Quarter-End
Communication Services 2.78%
Consumer Discretionary 13.13%
Consumer Staples 3.73%
Financials 12.59%
Health Care 11.92%
Industrials 31.52%
Information Technology 14.12%
Materials 6.89%
Real Estate 1.41%
Utilities 1.91%

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.

Country Allocation

As of 12/31/2021

As of
Month-End Quarter-End
United Kingdom 13.20%
Sweden 12.53%
Japan 10.05%
Canada 9.34%
Denmark 8.77%
India 5.60%
Italy 5.06%
France 5.02%
Taiwan 4.37%
Germany 4.04%
Australia 3.82%
Netherlands 3.69%
South Korea 2.23%
Switzerland 2.17%
Finland 2.09%
China 1.86%
Malaysia 1.67%
Belgium 1.26%
Norway 1.06%
Hong Kong 0.86%
Mexico 0.51%
Thailand 0.41%
Ireland 0.39%

December Fund Holdings

As of 12/31/2021

December November October September August July June May April March February January
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0309644 ELECTROCOMPONENTS PLC GB ECM LN 926,691 $15,196,887.24
0405207 HALMA PLC GB HLMA LN 155,143 $6,726,828.66
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,121,058 $13,731,644.60
0665045 OXFORD INSTRUMENTS PLC GB OXIG LN 198,735 $7,136,805.11
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 84,370 $6,097,816.89
2141941 DESCARTES SYSTEMS GRP/THE CA DSG CN 79,880 $6,606,621.29
2162760 CAE INC CA CAE CN 458,294 $11,561,058.97
2188283 CANADIAN WESTERN BANK CA CWB CN 539,682 $15,487,139.10
2516022 LINAMAR CORP CA LNR CN 137,728 $8,158,392.85
262006208 DREYFUS GVT CSH MANAGEMENT US 42,707,258.65 $42,707,258.65
2639349 GRUPO AEROPORT DEL SURESTE-B MX 193,595 $3,991,221.57
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 102,404 $9,258,011.34
3023231 PAGEGROUP PLC GB PAGE LN 704,361 $6,039,711.91
4902384 TRELLEBORG AB-B SHS SE TRELB SS 231,673 $6,078,501.22
5119901 DUERR AG DE DUE GR 145,281 $6,602,610.65
5161407 INTERPUMP GROUP SPA IT IP IM 217,518 $15,933,380.32
5260768 SIXT SE DE SIX2 GR 64,565 $11,390,068.59
5337093 ERG SPA IT ERG IM 249,471 $8,056,899.58
5545670 JUNGHEINRICH AG DE JUN3 GR 141,650 $7,195,258.27
5720273 MLP SE DE MLP GR 639,331 $6,237,917.40
5999330 TELEPERFORMANCE FR TEP FP 41,893 $18,729,377.36
6018085 SKC CO LTD KR 011790 KS 49,704 $7,264,608.04
6121176 LYNAS CORP LTD MY LYC AU 1,746,992 $12,963,963.38
6160384 KMC KUEI MENG INTERNATIONAL TW 5306 TT 679,000 $4,837,561.92
6250025 DAIFUKU CO LTD JP 6383 JP 28,500 $2,330,585.14
6292782 PRO MEDICUS LTD AU PME AU 78,275 $3,552,469.39
6349354 SINBON ELECTRONICS CO LTD TW 3023 TT 601,000 $6,156,435.59
6397825 OZ MINERALS LTD AU OZL AU 493,194 $10,167,815.67
6434562 NHN KCP CORP KR 129,366.72 $3,298,499.58
6483360 KANEKA CORP JP 4118 JP 150,100 $4,928,272.61
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 329,800 $7,823,894.80
6687571 NABTESCO CORP JP 6268 JP 115,700 $3,428,194.13
6869131 THK CO LTD JP 6481 JP 209,500 $5,083,362.69
7195824 REVENIO GROUP OYJ FI REG1V FH 64,970 $4,108,540.51
7370063 MELEXIS NV BE MELE BB 82,330 $9,810,185.54
7399369 VIRBAC SA FR VIRP FP 22,097 $10,670,183.02
B00ZG06 NORDIC SEMICONDUCTOR ASA NO NOD NO 247,049 $8,285,210.40
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 247,800 $5,323,637.06
B01JCK9 LI NING CO LTD CN 2331 HK 1,098,500 $12,050,592.41
B05H328 INTERNET INITIATIVE JAPAN JP 3774 JP 205,700 $8,496,163.60
B06JSP1 SYDBANK A/S DK SYDB DC 410,436 $12,972,748.53
B07SFG7 DOMINO'S PIZZA ENTERPRISES L AU DMP AU 38,643 $3,316,787.94
B09M9L0 CARGOTEC OYJ-B SHARE FI CGCBV FH 150,780 $7,524,868.15
B0PCQR9 GENOVIS AB SE GENO SS 572,290 $4,617,184.95
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 34,777 $18,261,512.08
B0YQ5X1 WEST HOLDINGS CORP JP 1407 JP 136,800 $6,801,446.12
B17H3F6 SSAB AB - B SHARES SE SSABB SS 1,532,645 $7,700,794.32
B1DN466 NIHON M&A CENTER INC JP 2127 JP 294,500 $7,223,836.98
B1FRT61 INDIAN HOTELS CO LIMITED IN IH IN 3,715,809 $9,004,034.89
B1W8P14 AALBERTS NV NL AALB NA 218,286 $14,474,498.29
B1XDPT6 FORTNOX AB SE FNOX SS 64,994 $4,185,300.86
B2PXYH2 EMEMORY TECHNOLOGY INC TW 3529 TT 89,000 $7,024,297.99
B39Q399 KOH YOUNG TECHNOLOGY INC KR 340,382 $6,779,790.55
B3PG229 L'OCCITANE INTERNATIONAL SA HK 973 HK 1,656,750 $6,700,549.67
B435YH4 SIAM GLOBAL HOUSE PCL TH GLOBAL TB 3,641,877 $2,181,102.20
B45G0N3 SIAM GLOBAL HOUSE PCL FOREIG TH 1,710,723 $1,034,474.02
B7648C2 V.I.P. INDUSTRIES LTD IN VIP IN 547,423 $3,949,207.86
B7K6D18 BRUNELLO CUCINELLI SPA IT BC IM 44,741 $3,075,187.41
B80VKP3 ASPEED TECHNOLOGY INC TW 5274 TT 92,000 $11,862,832.82
B86SZR5 ALS LTD AU ALQ AU 1,330,584 $12,667,956.07
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 123,874 $3,812,819.33
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 73,498 $4,100,306.63
BBQ2ZC3 NEXTAGE CO LTD JP 3186 JP 301,700 $6,224,852.21
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 76,836 $3,059,720.24
BD0RYG5 VARUN BEVERAGES ltd IN VBL IN 614,572 $7,334,716.64
BDRXBF4 TFI INTERNATIONAL INC CA TFII CN 141,205 $15,836,794.62
BF0QD69 KATITAS CO LTD JP 8919 JP 286,000 $11,007,992.20
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,377,270 $16,852,860.06
BF1KD82 RINGKJOEBING LANDBOBANK DK RILBA DC 93,747 $12,600,924.06
BF2CVV6 MIPS AB SE MIPS SS 149,829 $19,604,641.70
BFRSRR7 CORBION NV NL CRBN NA 68,987 $3,257,417.40
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 87,683 $9,401,408.35
BFZCSN4 VITROLIFE AB SE VITR SS 91,527 $5,646,878.93
BG0SJ42 ALFEN NV NL ALFEN NA 46,846 $4,710,053.18
BGLRNT1 INDIAN ENERGY EXCHANGE LTD IN IEX IN 2,002,791 $6,791,092.39
BJDQQ87 WATCHES OF SWITZERLAND GROUP GB WOSG LN 592,066 $11,423,122.54
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 297,926 $10,912,843.23
BKLG6N1 AMVIS HOLDINGS INC JP 7071 JP 93,143 $4,279,710.83
BLWF8B6 SFS GROUP AG CH SFSN SW 44,728 $6,174,583.43
BMFYGB3 SURGICAL SCIENCE SWEDEN AB SE SUS SS 70,232 $2,187,900.67
BMMV6B7 CLIPPER LOGISTICS GB CLG LN 658,554 $6,471,460.67
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 385,326 $3,319,039.73
BMX09H0 HYGEIA HEALTHCARE HOLDINGS CN 6078 HK 389,400 $2,438,940.76
BNBNSG0 EURONEXT NV NL ENX FP 60,692 $6,309,780.90
BNC5412 DIXON TECHNOLOGIES INDIA LTD IN DIXON IN 123,290 $9,118,682.12
BNDTGN9 APL APOLLO TUBES LTD IN APAT IN 550,968 $7,376,611.81
BNGN9Z1 FINECOBANK SPA IT FBK IM 704,367 $12,335,253.00
BNKCRG1 VIMIAN GROUP AB SE 562,444 $4,939,015.45
BQY78Q0 INWIDO AB SE INWI SS 533,856 $11,037,066.51
BRJQJX3 SHIFT INC JP 3697 JP 25,500 $5,259,375.13
BX8ZX20 ROYAL UNIBREW DK RBREW DC 133,520 $15,018,714.15
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 805,262 $4,937,024.93
BYR11M2 GOEASY LTD CA GSY CN 40,776 $5,778,816.17
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 287,765 $8,569,852.53
BYZN904 FUTURE PLC GB FUTR LN 253,512 $13,124,625.00
BYZQHX2 QT GROUP OYJ FI QTCOM FH 30,801 $4,665,178.13
BYZWMR9 VAT GROUP AG CH VACN SW 21,603 $10,704,798.46
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 39,508 $9,679,903.56

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class Z Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2021 Distributions
  • Third Quarter 2021 Distributions
  • Second Quarter 2021 Distributions
  • First Quarter 2021 Distributions

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 the product spotlight

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

$28.92

Daily $ Change

-$0.20

Daily % Change

-0.69%

as of 01/20/2022

Ticker

RAIRX

CUSIP

56382R662

Inception Date

08/21/2017

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans and discretionary investment accounts of the Advisor. Prior to 07/12/2018, the Class Z shares of the Rainier International Discovery Series were designated as the Class R6 shares.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
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 12/31/2021

As of
Month-End Quarter-End

YTD

---

1 Year

14.45%

3 Year

26.58%

5 Year

18.79%

10 Year

---

Inception
(03/28/2012)

14.93%

For periods prior to 08/21/2017, performance for Class Z is based on the historical performance of the Institutional Shares of the Rainier International Discovery Fund (Predecessor Fund), which was managed by Rainier Investment Management, LLC and reorganized into the Manning & Napier Fund, Inc. Rainier International Discovery Series Class I on 08/21/2017. Performance for the Class Z shares will differ to the extent that the Predecessor Fund’s Institutional Shares had a higher expense ratio. 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 1.08%
Net 1.01%*

*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 12/31/2021

As of
Month-End Quarter-End
MIPS AB 2.52%
TELEPERFORMANCE 2.41%
ALK-ABELLO A/S 2.35%
ARJO AB- B SHARES 2.16%
INTERPUMP GROUP SPA 2.05%
TFI INTERNATIONAL INC 2.03%
CANADIAN WESTERN BANK 1.99%
ELECTROCOMPONENTS PLC 1.95%
ROYAL UNIBREW 1.93%
AALBERTS NV 1.86%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 12/31/2021

As of
Month-End Quarter-End
Communication Services
2.78%
Consumer Discretionary
13.13%
Consumer Staples
3.73%
Financials
12.59%
Health Care
11.92%
Industrials
31.52%
Information Technology
14.12%
Materials
6.89%
Real Estate
1.41%
Utilities
1.91%

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.

Country Allocation

As of 12/31/2021

As of
Month-End Quarter-End
United Kingdom
13.20%
Sweden
12.53%
Japan
10.05%
Canada
9.34%
Denmark
8.77%
India
5.60%
Italy
5.06%
France
5.02%
Taiwan
4.37%
Germany
4.04%
Australia
3.82%
Netherlands
3.69%
South Korea
2.23%
Switzerland
2.17%
Finland
2.09%
China
1.86%
Malaysia
1.67%
Belgium
1.26%
Norway
1.06%
Hong Kong
0.86%
Mexico
0.51%
Thailand
0.41%
Ireland
0.39%

December Fund Holdings

As of 12/31/2021

December November October September August July June May April March February January
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0309644 ELECTROCOMPONENTS PLC GB ECM LN 926,691 $15,196,887.24
0405207 HALMA PLC GB HLMA LN 155,143 $6,726,828.66
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,121,058 $13,731,644.60
0665045 OXFORD INSTRUMENTS PLC GB OXIG LN 198,735 $7,136,805.11
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 84,370 $6,097,816.89
2141941 DESCARTES SYSTEMS GRP/THE CA DSG CN 79,880 $6,606,621.29
2162760 CAE INC CA CAE CN 458,294 $11,561,058.97
2188283 CANADIAN WESTERN BANK CA CWB CN 539,682 $15,487,139.10
2516022 LINAMAR CORP CA LNR CN 137,728 $8,158,392.85
262006208 DREYFUS GVT CSH MANAGEMENT US 42,707,258.65 $42,707,258.65
2639349 GRUPO AEROPORT DEL SURESTE-B MX 193,595 $3,991,221.57
2897103 TOROMONT INDUSTRIES LTD CA TIH CN 102,404 $9,258,011.34
3023231 PAGEGROUP PLC GB PAGE LN 704,361 $6,039,711.91
4902384 TRELLEBORG AB-B SHS SE TRELB SS 231,673 $6,078,501.22
5119901 DUERR AG DE DUE GR 145,281 $6,602,610.65
5161407 INTERPUMP GROUP SPA IT IP IM 217,518 $15,933,380.32
5260768 SIXT SE DE SIX2 GR 64,565 $11,390,068.59
5337093 ERG SPA IT ERG IM 249,471 $8,056,899.58
5545670 JUNGHEINRICH AG DE JUN3 GR 141,650 $7,195,258.27
5720273 MLP SE DE MLP GR 639,331 $6,237,917.40
5999330 TELEPERFORMANCE FR TEP FP 41,893 $18,729,377.36
6018085 SKC CO LTD KR 011790 KS 49,704 $7,264,608.04
6121176 LYNAS CORP LTD MY LYC AU 1,746,992 $12,963,963.38
6160384 KMC KUEI MENG INTERNATIONAL TW 5306 TT 679,000 $4,837,561.92
6250025 DAIFUKU CO LTD JP 6383 JP 28,500 $2,330,585.14
6292782 PRO MEDICUS LTD AU PME AU 78,275 $3,552,469.39
6349354 SINBON ELECTRONICS CO LTD TW 3023 TT 601,000 $6,156,435.59
6397825 OZ MINERALS LTD AU OZL AU 493,194 $10,167,815.67
6434562 NHN KCP CORP KR 129,366.72 $3,298,499.58
6483360 KANEKA CORP JP 4118 JP 150,100 $4,928,272.61
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 329,800 $7,823,894.80
6687571 NABTESCO CORP JP 6268 JP 115,700 $3,428,194.13
6869131 THK CO LTD JP 6481 JP 209,500 $5,083,362.69
7195824 REVENIO GROUP OYJ FI REG1V FH 64,970 $4,108,540.51
7370063 MELEXIS NV BE MELE BB 82,330 $9,810,185.54
7399369 VIRBAC SA FR VIRP FP 22,097 $10,670,183.02
B00ZG06 NORDIC SEMICONDUCTOR ASA NO NOD NO 247,049 $8,285,210.40
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 247,800 $5,323,637.06
B01JCK9 LI NING CO LTD CN 2331 HK 1,098,500 $12,050,592.41
B05H328 INTERNET INITIATIVE JAPAN JP 3774 JP 205,700 $8,496,163.60
B06JSP1 SYDBANK A/S DK SYDB DC 410,436 $12,972,748.53
B07SFG7 DOMINO'S PIZZA ENTERPRISES L AU DMP AU 38,643 $3,316,787.94
B09M9L0 CARGOTEC OYJ-B SHARE FI CGCBV FH 150,780 $7,524,868.15
B0PCQR9 GENOVIS AB SE GENO SS 572,290 $4,617,184.95
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 34,777 $18,261,512.08
B0YQ5X1 WEST HOLDINGS CORP JP 1407 JP 136,800 $6,801,446.12
B17H3F6 SSAB AB - B SHARES SE SSABB SS 1,532,645 $7,700,794.32
B1DN466 NIHON M&A CENTER INC JP 2127 JP 294,500 $7,223,836.98
B1FRT61 INDIAN HOTELS CO LIMITED IN IH IN 3,715,809 $9,004,034.89
B1W8P14 AALBERTS NV NL AALB NA 218,286 $14,474,498.29
B1XDPT6 FORTNOX AB SE FNOX SS 64,994 $4,185,300.86
B2PXYH2 EMEMORY TECHNOLOGY INC TW 3529 TT 89,000 $7,024,297.99
B39Q399 KOH YOUNG TECHNOLOGY INC KR 340,382 $6,779,790.55
B3PG229 L'OCCITANE INTERNATIONAL SA HK 973 HK 1,656,750 $6,700,549.67
B435YH4 SIAM GLOBAL HOUSE PCL TH GLOBAL TB 3,641,877 $2,181,102.20
B45G0N3 SIAM GLOBAL HOUSE PCL FOREIG TH 1,710,723 $1,034,474.02
B7648C2 V.I.P. INDUSTRIES LTD IN VIP IN 547,423 $3,949,207.86
B7K6D18 BRUNELLO CUCINELLI SPA IT BC IM 44,741 $3,075,187.41
B80VKP3 ASPEED TECHNOLOGY INC TW 5274 TT 92,000 $11,862,832.82
B86SZR5 ALS LTD AU ALQ AU 1,330,584 $12,667,956.07
B898BV8 XVIVO PERFUSION AB SE XVIVO SS 123,874 $3,812,819.33
B96HCH8 VOLTRONIC POWER TECHNOLOGY TW 6409 TT 73,498 $4,100,306.63
BBQ2ZC3 NEXTAGE CO LTD JP 3186 JP 301,700 $6,224,852.21
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 76,836 $3,059,720.24
BD0RYG5 VARUN BEVERAGES ltd IN VBL IN 614,572 $7,334,716.64
BDRXBF4 TFI INTERNATIONAL INC CA TFII CN 141,205 $15,836,794.62
BF0QD69 KATITAS CO LTD JP 8919 JP 286,000 $11,007,992.20
BF17YL3 ARJO AB- B SHARES SE ARJOB SS 1,377,270 $16,852,860.06
BF1KD82 RINGKJOEBING LANDBOBANK DK RILBA DC 93,747 $12,600,924.06
BF2CVV6 MIPS AB SE MIPS SS 149,829 $19,604,641.70
BFRSRR7 CORBION NV NL CRBN NA 68,987 $3,257,417.40
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 87,683 $9,401,408.35
BFZCSN4 VITROLIFE AB SE VITR SS 91,527 $5,646,878.93
BG0SJ42 ALFEN NV NL ALFEN NA 46,846 $4,710,053.18
BGLRNT1 INDIAN ENERGY EXCHANGE LTD IN IEX IN 2,002,791 $6,791,092.39
BJDQQ87 WATCHES OF SWITZERLAND GROUP GB WOSG LN 592,066 $11,423,122.54
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 297,926 $10,912,843.23
BKLG6N1 AMVIS HOLDINGS INC JP 7071 JP 93,143 $4,279,710.83
BLWF8B6 SFS GROUP AG CH SFSN SW 44,728 $6,174,583.43
BMFYGB3 SURGICAL SCIENCE SWEDEN AB SE SUS SS 70,232 $2,187,900.67
BMMV6B7 CLIPPER LOGISTICS GB CLG LN 658,554 $6,471,460.67
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 385,326 $3,319,039.73
BMX09H0 HYGEIA HEALTHCARE HOLDINGS CN 6078 HK 389,400 $2,438,940.76
BNBNSG0 EURONEXT NV NL ENX FP 60,692 $6,309,780.90
BNC5412 DIXON TECHNOLOGIES INDIA LTD IN DIXON IN 123,290 $9,118,682.12
BNDTGN9 APL APOLLO TUBES LTD IN APAT IN 550,968 $7,376,611.81
BNGN9Z1 FINECOBANK SPA IT FBK IM 704,367 $12,335,253.00
BNKCRG1 VIMIAN GROUP AB SE 562,444 $4,939,015.45
BQY78Q0 INWIDO AB SE INWI SS 533,856 $11,037,066.51
BRJQJX3 SHIFT INC JP 3697 JP 25,500 $5,259,375.13
BX8ZX20 ROYAL UNIBREW DK RBREW DC 133,520 $15,018,714.15
BYPHNG0 COUNTRYSIDE PROPERTIES PLC GB CSP LN 805,262 $4,937,024.93
BYR11M2 GOEASY LTD CA GSY CN 40,776 $5,778,816.17
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 287,765 $8,569,852.53
BYZN904 FUTURE PLC GB FUTR LN 253,512 $13,124,625.00
BYZQHX2 QT GROUP OYJ FI QTCOM FH 30,801 $4,665,178.13
BYZWMR9 VAT GROUP AG CH VACN SW 21,603 $10,704,798.46
BZ6T5C2 S.O.I.T.E.C. FR SOI FP 39,508 $9,679,903.56

Investments will change over time.

Distributions

  • Rainier International Discovery Series Class Z Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2021 Distributions
  • Third Quarter 2021 Distributions
  • Second Quarter 2021 Distributions
  • First Quarter 2021 Distributions

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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