SEATTLE--(BUSINESS WIRE)--Rainier Investment Management, LLC, an independent, employee-owned investment management firm, is pleased to announce that Rainier International Discovery Fund (RAIIX) marked its third anniversary and received a Five-Star Overall Morningstar Rating™ out of 127 funds in the Foreign Small/Mid Growth category for the period ending 3/31/15.
This rating, the highest possible from Morningstar, is based on risk-adjusted returns derived from a weighted average of the Fund’s three-year Morningstar metrics. Morningstar rates mutual funds from 1 to 5 stars based on how well they have performed after adjusting for risk and accounting for sales charges, in comparison to similar funds.
Rainier International Discovery Fund is managed by Henrik Strabo, Head of International Investments, who brings over 27 years of investing experience in all cap ranges of global markets. Henrik is supported by Mac Rygiel, Senior Portfolio Analyst and Derrick Tzau, Portfolio Analyst, as well as Rainier’s dedicated trading team. Clients can invest via separate account, collective trust and mutual fund vehicles.
“We are pleased to celebrate this milestone and are honored to have received a Five-Star Overall Morningstar Rating for RAIIX,” said Mark Dawson, Chief Investment Officer at Rainier. "Henrik and his team use a disciplined fundamental stock selection process focused on in-depth research of non-US small-cap growth companies that exhibit solid underlying fundamentals.”
Since its inception (03/28/2012) through 03/31/2015, the Fund has achieved an annualized return of 18.55%. It outperformed its benchmark, the MSCI ACWI ex USA Small Cap Index by 11.16%, which produced an annualized return of 7.39% over the three year period, ending March 31, 2015. The International Discovery Fund and the MSCI ACWI ex USA Small Cap Index returned 4.81% and -3.60% respectively for the one-year period ended 3/31/2015.
Gross and Net Expense Ratios for Institutional are 1.61% and 1.25% respectively. Net expense ratio reflects contractual fee waivers in effect through July 31, 2014. While the fund is no load, management & other expenses still apply.
Performance data quoted represents past performance, which does not guarantee future results. 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 quoted. Most recent month end performance is available by calling 800.280.6111.
In addition to serving large institutional clients, Rainier's strategies are also available to financial advisers and individual investors through the Rainier Funds. Funds span the market capitalization spectrum, and include both equity and fixed income portfolios. Available mutual funds include Rainier Large Cap Equity Fund (RIMEX), Rainier Mid Cap Equity Fund (RIMMX), Rainier Small/Mid Cap Equity Fund (RIMSX), Rainier Intermediate Fixed Income Fund (RIFMX), Rainier High Yield Fund (RIMYX), and Rainier International Discovery Fund (RAIIX).
About Rainier Investment Management, LLC
Seattle-based Rainier Investment Management is an independent, employee-owned investment management firm dedicated to serving clients since 1987. We believe that rewarding stock performance comes from companies that exhibit superior growth potential, attractive valuations, competitive strength and financial integrity. Rainier provides international equity, domestic equity and fixed income portfolio management to financial advisers, institutional investors and individual investors through the Rainier Funds. Rainier is headquartered in Seattle, Washington with an office in New York City. Please visit www.rainierfunds.com for more information.
Mutual fund investing involves risk. Principal loss is possible. Small- and medium- capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Investment in IPO’s can be volatile and can fluctuate considerably. IPO’s can have magnified impact on funds with a small asset base. Investments in foreign securities and emerging markets countries involve greater volatility and political, economic, and currency risks and differences in accounting methods. These risks are greater for emerging markets. Investment in REIT securities involve risks such as declines in the value of real estate and increased susceptibility to adverse economic regulatory expenses. The fund will invest in derivatives which may be more volatile than investments directly in the underlying securities, involve additional costs and may involve a small initial investment relative to the risk assumed.
The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The summary and statutory prospectuses contain this and other important information about the investment company, and may be obtained by calling 800.280.6111 or visiting www.rainierfunds.com. Read them carefully before investing.
The MSCI ACWI ex USA Small Cap Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of small capitalization developed and emerging markets, excluding the United States. “Net” indicates that this series approximates the minimum possible dividend reinvestment. The dividend is reinvested after deduction of withholding tax, applying the rate applicable to non-resident individuals who do not benefit from double taxation treaties. MSCI uses withholding tax rates applicable to Luxembourg holding companies. You cannot invest directly in an Index.
About Morningstar Ratings
For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Rainier International Discovery Fund (RAIIX) was rated against the following numbers of Foreign Small/Mid Growth funds over the following time periods: 127 funds in the last three years. With respect to these Foreign Small/Mid Growth funds, Rainier International Discovery Fund l received a Morningstar Rating of five stars for the three-year period. Ratings for the A Share classes may differ.
©2015 Morningstar, Inc. All Rights Reserved. The information contained herein (1) is proprietary to Morningstar (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is not a guarantee of future results.
The Rainier Funds are distributed by Quasar Distributors, LLC.