Rainier International Discovery Series

Disciplined Value Series Equity Income Series Equity Series International Series Overseas Series Rainier International Discovery Series Real Estate Series
Class I Class K Class Z

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.

 

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

$19.15

Daily $ Change

$0.08

Daily % Change

0.42%

as of 02/15/2019

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

Performance

As of 01/31/2019

As of
Month-End Quarter-End

YTD

6.27%

1 Year

-18.35%

3 Year

7.04%

5 Year

6.37%

10 Year

---

Inception
(03/28/2012)

10.96%

Market Cycle

---

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 1.17%
Net 1.00%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2019) without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 01/31/2019

As of
Month-End Quarter-End
TELEPERFORMANCE 3.54%
ROYAL UNIBREW 3.49%
TECHTRONIC INDUSTRIES CO LTD 3.19%
CARL ZEISS MEDITEC AG - BR 3.05%
CHR HANSEN HOLDING A/S 2.89%
DECHRA PHARMACEUTICALS PLC 2.83%
CAE INC 2.78%
ABCAM PLC 2.68%
NEMETSCHEK SE 2.48%
KORIAN 2.45%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 01/31/2019

As of
Month-End Quarter-End
Communication Services 2.61%
Consumer Discretionary 12.67%
Consumer Staples 9.75%
Financials 11.50%
Health Care 27.16%
Industrials 23.67%
Information Technology 9.09%
Materials 2.89%
Real Estate 0.66%

Country Allocation

As of 01/31/2019

As of
Month-End Quarter-End
Japan 14.91%
Denmark 12.54%
Germany 11.16%
France 9.39%
United Kingdom 8.88%
Italy 6.33%
India 4.58%
Switzerland 4.31%
Canada 4.08%
Thailand 3.94%
Indonesia 3.92%
Hong Kong 3.19%
Malaysia 2.19%
Mexico 2.16%
China 1.21%
Brazil 1.03%
New Zealand 1.01%
Netherlands 0.92%
Norway 0.75%
Philippines 0.72%
Australia 0.63%
South Korea 0.56%
Sweden 0.54%
Ireland 0.54%
Poland 0.51%

January Fund Holdings

As of 01/31/2019

January December November October
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0309644 ELECTROCOMPONENTS PLC GB ECM LN 377,975 $2,698,076.10
0405207 HALMA PLC GB HLMA LN 336,015 $6,179,949.73
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 559,520 $3,711,876.51
06684L103 BAOZUN INC-SPN ADR CN BZUN 42,960 $1,537,968.00
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 420,540 $13,065,669.74
2162760 CAE INC CA CAE CN 606,095 $12,878,855.66
2392545 GRUMA S.A.B.-B MX GRUMAB MM 615,100 $7,513,823.37
262006208 DREYFUS GVT CSH MANAGEMENT US 52,243,481.15 $52,243,481.15
316827104 51JOB INC - ADR CN JOBS 57,935 $4,034,593.40
4491235 KINGSPAN GROUP IE 60,620 $2,479,279.11
4612757 OC OERLIKON CORP AG-REG CH OERL SW 229,935 $2,971,316.51
4713490 ROCKWOOL INTL A/S- B SHS DK ROCKB DC 29,780 $7,987,473.01
4730875 TOMRA SYSTEMS ASA NO TOM NO 133,135 $3,459,064.04
5263574 FLSMIDTH & CO A/S DK FLS DC 74,160 $3,475,913.72
5633962 NEMETSCHEK SE DE NEM GR 89,390 $11,472,572.71
5843329 SARTORIUS AG-VORZUG DE SRT3 GR 48,450 $7,273,055.22
5922961 CARL ZEISS MEDITEC AG - BR DE AFX GR 155,225 $14,088,533.49
5999330 TELEPERFORMANCE FR TEP FP 95,060 $16,359,882.69
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 328,500 $6,884,761.46
6049632 ARIAKE JAPAN CO LTD JP 2815 JP 62,179 $3,774,889.14
6161525 RYMAN HEALTHCARE LTD NZ RYM NZ 643,545 $4,663,227.17
6188193 MALAYSIA AIRPORTS HLDGS BHD MY MAHB MK 3,411,500 $6,716,937.00
6250025 DAIFUKU CO LTD JP 6383 JP 201,900 $10,146,685.60
6283979 INDOFOOD SUKSES MAKMUR TBK P ID INDF IJ 7,698,300 $4,281,947.86
6352750 EN-JAPAN INC JP 4849 JP 163,300 $6,141,806.77
6561330 KRUNGTHAI CARD PCL NVDR TH KTC-R TB 6,554,500 $6,213,685.93
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 145,500 $2,650,675.00
6680718 SERIA CO LTD JP 2782 JP 74,300 $2,295,646.99
6688080 PIGEON CORP JP 7956 JP 281,000 $11,017,276.58
7155884 BACHEM HOLDING AG-REG B CH BANB SW 34,050 $3,915,273.04
7339451 ORPEA SA FR ORP FP 91,210 $9,041,968.94
7391763 SIEGFRIED HOLDING AG-REG CH SFZN SW 20,395 $7,193,749.87
B018C06 MINOR INTERNATIONAL PCL TH MINT TB 1,504,246 $1,872,617.63
B018C28 MINOR INTERNATIONAL PCL-NVDR TH MINT-R TB 1,584,554 $1,972,592.09
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 2,525,500 $14,742,728.83
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 169,000 $7,355,236.47
B05L892 TOP GLOVE CORP BHD MY TOPG MK 2,878,700 $3,395,902.45
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 17,940 $2,773,999.10
B14NJ71 AMPLIFON SPA IT AMP IM 230,284 $4,125,627.46
B18ZRK2 LOGITECH INTERNATIONAL - REG CH LOGN SW 45,795 $1,670,726.12
B1DN466 NIHON M&A CENTER INC JP 2127 JP 136,800 $3,429,402.19
B1HKRM0 KORIAN FR KORI FP 318,655 $11,334,262.22
B1JTY91 XING SE DE O1BC GR 26,787 $8,022,802.07
B1Y6V63 GRUPPO MUTUIONLINE SPA IT MOL IM 154,275 $2,984,247.48
B234WN9 DIASORIN SPA IT DIA IM 78,130 $7,154,620.59
B39Q399 KOH YOUNG TECHNOLOGY INC KR 34,875 $2,577,592.80
B3CY709 PERSOL HOLDINGS CO LTD JP 2181 JP 373,000 $6,641,561.58
B3KFW10 TISCO FINANCIAL GROUP-NVDR TH TISCO-R TB 1,788,400 $4,750,529.34
B3L0Q89 TISCO FINANCIAL GROUP PCL TH TISCO TB 1,282,900 $3,407,769.00
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 136,500 $3,841,394.75
B3R1D52 CORPORATE TRAVEL MANAGEMENT AU CTD AU 170,510 $2,920,248.15
B548673 BANK TABUNGAN NEGARA PERSERO ID BBTN IJ 28,172,500 $5,550,533.01
B573M11 CHR HANSEN HOLDING A/S DK CHR DC 140,880 $13,378,791.84
B677469 ABCAM PLC GB ABC LN 712,350 $12,416,032.62
B7JW351 ACE HARDWARE INDONESIA ID ACES IJ 68,075,000 $8,292,310.00
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 122,850 $3,056,562.61
BBCR9N1 SIMCORP A/S DK SIM DC 47,060 $3,714,069.68
BD0F6Q3 V-GUARD INDUSTRIES LTD IN VGRD IN 1,280,705 $3,552,712.69
BD0YVN2 DINO POLSKA SA PL DNP PW 87,169 $2,352,945.58
BD3RVD8 L&T TECHNOLOGY SERVICES IN LTTS IN 253,505 $5,660,811.97
BD97240 SOLASTO CORP JP 6197 JP 527,163 $4,976,587.94
BD9G333 AMBU A/S-B DK AMBUB DC 137,490 $3,662,792.07
BF0B2F6 CANADA GOOSE HOLDINGS INC CA GOOS CN 116,010 $5,967,590.78
BF0LBX7 BIOMERIEUX FR BIM FP 94,625 $6,681,184.48
BFB3ZZ2 BK BRASIL OPERACAO E ASSESSO BR BKBR3 BZ 791,000 $4,771,331.43
BFT7KB7 FEDERAL BANK LTD IN FB IN 4,463,010 $5,411,389.40
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 203,135 $6,851,726.36
BFZCSN4 VITROLIFE AB SE VITR SS 140,250 $2,477,407.68
BG1Z6X0 REGIONALL SAB DE CV MX RA MM 467,100 $2,471,772.36
BGLP232 MONCLER SPA IT MONC IM 114,965 $4,326,660.48
BNBNSG0 EURONEXT NV NL ENX FP 69,160 $4,260,354.95
BNGN9Z1 FINECOBANK SPA IT FBK IM 980,990 $10,667,227.34
BVFNZH2 ROTORK PLC GB ROR LN 824,065 $2,974,367.41
BX8ZX20 ROYAL UNIBREW DK RBREW DC 214,200 $16,132,110.87
BYMFG13 BATA INDIA LD IN BATA IN 256,450 $4,046,010.58
BYR4KP7 GRENKE AG DE GLJ GR 39,530 $3,634,943.96
BYT9340 SCOUT24 AG DE G24 GR 86,185 $4,051,861.11
BYXYHM7 WILCON DEPOT INC PH WLCON PM 12,539,128 $3,306,602.70
BYZWMR9 VAT GROUP AG CH VACN SW 40,330 $4,175,747.52
BZ05GC3 FUTURE RETAIL LTD IN FRETAIL IN 416,805 $2,525,022.68

Investments will change over time.

Distributions

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

 

Download the product spotlight to learn more about this underutilized, but opportunistic solution

Daily Price

$19.15

Daily $ Change

$0.08

Daily % Change

0.42%

as of 02/15/2019

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

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 01/31/2019

As of
Month-End Quarter-End

YTD

6.27%

1 Year

-18.35%

3 Year

7.04%

5 Year

6.37%

10 Year

---

Inception
(03/28/2012)

10.96%

Market Cycle

---

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 1.17%
Net 1.00%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2019) without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 01/31/2019

As of
Month-End Quarter-End
TELEPERFORMANCE 3.54%
ROYAL UNIBREW 3.49%
TECHTRONIC INDUSTRIES CO LTD 3.19%
CARL ZEISS MEDITEC AG - BR 3.05%
CHR HANSEN HOLDING A/S 2.89%
DECHRA PHARMACEUTICALS PLC 2.83%
CAE INC 2.78%
ABCAM PLC 2.68%
NEMETSCHEK SE 2.48%
KORIAN 2.45%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 01/31/2019

As of
Month-End Quarter-End
Communication Services
2.61%
Consumer Discretionary
12.67%
Consumer Staples
9.75%
Financials
11.50%
Health Care
27.16%
Industrials
23.67%
Information Technology
9.09%
Materials
2.89%
Real Estate
0.66%

Country Allocation

As of 01/31/2019

As of
Month-End Quarter-End
Japan
14.91%
Denmark
12.54%
Germany
11.16%
France
9.39%
United Kingdom
8.88%
Italy
6.33%
India
4.58%
Switzerland
4.31%
Canada
4.08%
Thailand
3.94%
Indonesia
3.92%
Hong Kong
3.19%
Malaysia
2.19%
Mexico
2.16%
China
1.21%
Brazil
1.03%
New Zealand
1.01%
Netherlands
0.92%
Norway
0.75%
Philippines
0.72%
Australia
0.63%
South Korea
0.56%
Sweden
0.54%
Ireland
0.54%
Poland
0.51%

January Fund Holdings

As of 01/31/2019

January December November October
CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
0309644 ELECTROCOMPONENTS PLC GB ECM LN 377,975 $2,698,076.10
0405207 HALMA PLC GB HLMA LN 336,015 $6,179,949.73
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 559,520 $3,711,876.51
06684L103 BAOZUN INC-SPN ADR CN BZUN 42,960 $1,537,968.00
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 420,540 $13,065,669.74
2162760 CAE INC CA CAE CN 606,095 $12,878,855.66
2392545 GRUMA S.A.B.-B MX GRUMAB MM 615,100 $7,513,823.37
262006208 DREYFUS GVT CSH MANAGEMENT US 52,243,481.15 $52,243,481.15
316827104 51JOB INC - ADR CN JOBS 57,935 $4,034,593.40
4491235 KINGSPAN GROUP IE 60,620 $2,479,279.11
4612757 OC OERLIKON CORP AG-REG CH OERL SW 229,935 $2,971,316.51
4713490 ROCKWOOL INTL A/S- B SHS DK ROCKB DC 29,780 $7,987,473.01
4730875 TOMRA SYSTEMS ASA NO TOM NO 133,135 $3,459,064.04
5263574 FLSMIDTH & CO A/S DK FLS DC 74,160 $3,475,913.72
5633962 NEMETSCHEK SE DE NEM GR 89,390 $11,472,572.71
5843329 SARTORIUS AG-VORZUG DE SRT3 GR 48,450 $7,273,055.22
5922961 CARL ZEISS MEDITEC AG - BR DE AFX GR 155,225 $14,088,533.49
5999330 TELEPERFORMANCE FR TEP FP 95,060 $16,359,882.69
6036548 NET ONE SYSTEMS CO LTD JP 7518 JP 328,500 $6,884,761.46
6049632 ARIAKE JAPAN CO LTD JP 2815 JP 62,179 $3,774,889.14
6161525 RYMAN HEALTHCARE LTD NZ RYM NZ 643,545 $4,663,227.17
6188193 MALAYSIA AIRPORTS HLDGS BHD MY MAHB MK 3,411,500 $6,716,937.00
6250025 DAIFUKU CO LTD JP 6383 JP 201,900 $10,146,685.60
6283979 INDOFOOD SUKSES MAKMUR TBK P ID INDF IJ 7,698,300 $4,281,947.86
6352750 EN-JAPAN INC JP 4849 JP 163,300 $6,141,806.77
6561330 KRUNGTHAI CARD PCL NVDR TH KTC-R TB 6,554,500 $6,213,685.93
6565031 TAKEUCHI MFG CO LTD JP 6432 JP 145,500 $2,650,675.00
6680718 SERIA CO LTD JP 2782 JP 74,300 $2,295,646.99
6688080 PIGEON CORP JP 7956 JP 281,000 $11,017,276.58
7155884 BACHEM HOLDING AG-REG B CH BANB SW 34,050 $3,915,273.04
7339451 ORPEA SA FR ORP FP 91,210 $9,041,968.94
7391763 SIEGFRIED HOLDING AG-REG CH SFZN SW 20,395 $7,193,749.87
B018C06 MINOR INTERNATIONAL PCL TH MINT TB 1,504,246 $1,872,617.63
B018C28 MINOR INTERNATIONAL PCL-NVDR TH MINT-R TB 1,584,554 $1,972,592.09
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 2,525,500 $14,742,728.83
B019MQ5 ASAHI INTECC CO LTD JP 7747 JP 169,000 $7,355,236.47
B05L892 TOP GLOVE CORP BHD MY TOPG MK 2,878,700 $3,395,902.45
B0VL7C2 ALK-ABELLO A/S DK ALKB DC 17,940 $2,773,999.10
B14NJ71 AMPLIFON SPA IT AMP IM 230,284 $4,125,627.46
B18ZRK2 LOGITECH INTERNATIONAL - REG CH LOGN SW 45,795 $1,670,726.12
B1DN466 NIHON M&A CENTER INC JP 2127 JP 136,800 $3,429,402.19
B1HKRM0 KORIAN FR KORI FP 318,655 $11,334,262.22
B1JTY91 XING SE DE O1BC GR 26,787 $8,022,802.07
B1Y6V63 GRUPPO MUTUIONLINE SPA IT MOL IM 154,275 $2,984,247.48
B234WN9 DIASORIN SPA IT DIA IM 78,130 $7,154,620.59
B39Q399 KOH YOUNG TECHNOLOGY INC KR 34,875 $2,577,592.80
B3CY709 PERSOL HOLDINGS CO LTD JP 2181 JP 373,000 $6,641,561.58
B3KFW10 TISCO FINANCIAL GROUP-NVDR TH TISCO-R TB 1,788,400 $4,750,529.34
B3L0Q89 TISCO FINANCIAL GROUP PCL TH TISCO TB 1,282,900 $3,407,769.00
B3PQXL5 ANICOM HOLDINGS INC JP 8715 JP 136,500 $3,841,394.75
B3R1D52 CORPORATE TRAVEL MANAGEMENT AU CTD AU 170,510 $2,920,248.15
B548673 BANK TABUNGAN NEGARA PERSERO ID BBTN IJ 28,172,500 $5,550,533.01
B573M11 CHR HANSEN HOLDING A/S DK CHR DC 140,880 $13,378,791.84
B677469 ABCAM PLC GB ABC LN 712,350 $12,416,032.62
B7JW351 ACE HARDWARE INDONESIA ID ACES IJ 68,075,000 $8,292,310.00
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 122,850 $3,056,562.61
BBCR9N1 SIMCORP A/S DK SIM DC 47,060 $3,714,069.68
BD0F6Q3 V-GUARD INDUSTRIES LTD IN VGRD IN 1,280,705 $3,552,712.69
BD0YVN2 DINO POLSKA SA PL DNP PW 87,169 $2,352,945.58
BD3RVD8 L&T TECHNOLOGY SERVICES IN LTTS IN 253,505 $5,660,811.97
BD97240 SOLASTO CORP JP 6197 JP 527,163 $4,976,587.94
BD9G333 AMBU A/S-B DK AMBUB DC 137,490 $3,662,792.07
BF0B2F6 CANADA GOOSE HOLDINGS INC CA GOOS CN 116,010 $5,967,590.78
BF0LBX7 BIOMERIEUX FR BIM FP 94,625 $6,681,184.48
BFB3ZZ2 BK BRASIL OPERACAO E ASSESSO BR BKBR3 BZ 791,000 $4,771,331.43
BFT7KB7 FEDERAL BANK LTD IN FB IN 4,463,010 $5,411,389.40
BFYDWS1 NETCOMPANY GROUP AS DK NETC DC 203,135 $6,851,726.36
BFZCSN4 VITROLIFE AB SE VITR SS 140,250 $2,477,407.68
BG1Z6X0 REGIONALL SAB DE CV MX RA MM 467,100 $2,471,772.36
BGLP232 MONCLER SPA IT MONC IM 114,965 $4,326,660.48
BNBNSG0 EURONEXT NV NL ENX FP 69,160 $4,260,354.95
BNGN9Z1 FINECOBANK SPA IT FBK IM 980,990 $10,667,227.34
BVFNZH2 ROTORK PLC GB ROR LN 824,065 $2,974,367.41
BX8ZX20 ROYAL UNIBREW DK RBREW DC 214,200 $16,132,110.87
BYMFG13 BATA INDIA LD IN BATA IN 256,450 $4,046,010.58
BYR4KP7 GRENKE AG DE GLJ GR 39,530 $3,634,943.96
BYT9340 SCOUT24 AG DE G24 GR 86,185 $4,051,861.11
BYXYHM7 WILCON DEPOT INC PH WLCON PM 12,539,128 $3,306,602.70
BYZWMR9 VAT GROUP AG CH VACN SW 40,330 $4,175,747.52
BZ05GC3 FUTURE RETAIL LTD IN FRETAIL IN 416,805 $2,525,022.68

Investments will change over time.

Distributions

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