Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.6%
1 yr return
2.8%
3 Yr Avg Return
-7.8%
5 Yr Avg Return
5.7%
Net Assets
$556 M
Holdings in Top 10
22.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.19%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 76.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RAIIX - Profile
Distributions
- YTD Total Return 0.6%
- 3 Yr Annualized Total Return -7.8%
- 5 Yr Annualized Total Return 5.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.14%
- Dividend Yield 1.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameRainier International Discovery Series
-
Fund Family NameManning & Napier
-
Inception DateMar 28, 2012
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerHenrik Strabo
Fund Description
Under normal conditions, the Series will invest primarily in equity securities of foreign developed and emerging market companies that are small- to mid-sized at the time of purchase. In selecting securities for purchase in the Series, Rainier Investment Management, LLC (Rainier), the sub-advisor of the Series, focuses on companies that it believes have clear catalysts for positive change; sustainable competitive advantages; strong market positions; disciplined management; and attractive relative valuations. Rainier selects stocks of companies it believes will increase in value over time and makes investment decisions based primarily on an analysis of individual companies, rather than on broad economic forecasts. Rainier believes that, over the long term, stock price movements follow growth in earnings, revenues and/or cash flow. In normal market conditions, the Series’ portfolio will primarily consist of securities of companies with earnings or revenue growth that Rainier attributes to solid or improving fundamentals.
The equity securities in which the Series invests include U.S. dollar and non-U.S. dollar denominated common stock, preferred stock and depository receipts, securities convertible into common stock (including convertible bonds, warrants, and rights), initial public offerings (IPOs), real estate investment trusts (REITs), and instruments with economic characteristics similar to equity securities (including participatory notes and exchange-traded funds (ETFs)). Depository receipts (including American Depository Receipts (ADRs), Global Depository Receipts (GDRs), and International Depository Receipts (IDRs)) are securities listed and traded on U.S. and non-U.S. exchanges that represent ownership interests in securities of foreign companies. Participatory notes are derivative instruments that may be used by the Series to replicate equity exposure in certain foreign markets where direct investment is either impossible or difficult due to local investment restrictions. The Series will generally not invest more than 25% of its net assets in participatory notes at the time of purchase.
The Series considers a company to be a foreign company if it meets one or more of the following criteria: (i) at least 50% of the company’s assets are located outside of the U.S.; (ii) at least 50% of the company’s revenue is generated outside of the U.S.; or (iii) the company is organized or maintains its principal place of business outside of the U.S. The Series is not required to invest a specified portion of its net assets in any particular geographic region, and will typically invest in at least three foreign countries at any time. The Series will generally not invest more than 50% of its net assets in emerging market issuers.
The Series is diversified and will generally hold between 60 and 120 securities. The Series may sell a security if it reaches or surpasses its price or valuation target, when the underlying fundamentals deteriorate as compared to Rainier’s expectations, or when Rainier perceives there to be better opportunities in alternative securities. The Series may buy and sell investments frequently in seeking to achieve its objective.
The Series’ investment strategy may involve allocating large portions of the Series’ portfolio to industry sectors which meet Rainier’s investment criteria.
Under normal circumstances, up to 10% of the Series’ net assets may be held in cash, money market instruments, or other cash equivalents at Rainier’s discretion to facilitate its management of the Series’ portfolio and cash flows.
RAIIX - Performance
Return Ranking - Trailing
Period | RAIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.6% | -9.3% | 7.8% | 31.15% |
1 Yr | 2.8% | -12.2% | 29.4% | 68.03% |
3 Yr | -7.8%* | -27.8% | -1.6% | 61.95% |
5 Yr | 5.7%* | -8.7% | 8.8% | 10.81% |
10 Yr | 6.3%* | 0.7% | 7.1% | 8.86% |
* Annualized
Return Ranking - Calendar
Period | RAIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.1% | -16.8% | 28.8% | 86.89% |
2022 | -30.4% | -46.4% | -21.4% | 49.15% |
2021 | 1.9% | -30.6% | 16.4% | 40.18% |
2020 | 39.0% | 0.3% | 62.2% | 12.50% |
2019 | 24.6% | 9.7% | 44.0% | 46.79% |
Total Return Ranking - Trailing
Period | RAIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.6% | -9.3% | 7.8% | 31.15% |
1 Yr | 2.8% | -12.2% | 29.4% | 68.03% |
3 Yr | -7.8%* | -27.8% | -1.6% | 61.95% |
5 Yr | 5.7%* | -8.7% | 8.8% | 10.81% |
10 Yr | 6.3%* | 0.7% | 7.1% | 8.86% |
* Annualized
Total Return Ranking - Calendar
Period | RAIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.5% | -16.5% | 30.7% | 88.52% |
2022 | -30.4% | -46.4% | -18.5% | 59.32% |
2021 | 14.3% | -30.6% | 24.7% | 19.64% |
2020 | 41.4% | 1.6% | 68.3% | 13.39% |
2019 | 24.9% | 9.7% | 44.0% | 63.30% |
NAV & Total Return History
RAIIX - Holdings
Concentration Analysis
RAIIX | Category Low | Category High | RAIIX % Rank | |
---|---|---|---|---|
Net Assets | 556 M | 25.2 K | 6.45 B | 36.59% |
Number of Holdings | 101 | 39 | 1618 | 49.59% |
Net Assets in Top 10 | 120 M | 686 K | 1 B | 39.02% |
Weighting of Top 10 | 22.00% | 5.3% | 53.0% | 52.85% |
Top 10 Holdings
- DREYFUS GOVERN CASH MGMT-I 4.56%
- Varun Beverages Ltd 2.50%
- Indian Hotels Co Ltd 2.30%
- Rheinmetall AG 2.05%
- TFI International Inc 1.88%
- Fugro NV 1.80%
- Internet Initiative Japan Inc 1.77%
- NHPC Ltd 1.75%
- Saab AB 1.74%
- Sojitz Corp 1.66%
Asset Allocation
Weighting | Return Low | Return High | RAIIX % Rank | |
---|---|---|---|---|
Stocks | 96.45% | 91.39% | 99.96% | 63.41% |
Cash | 4.56% | 0.00% | 6.85% | 12.20% |
Preferred Stocks | 0.00% | 0.00% | 8.16% | 52.85% |
Other | 0.00% | -0.01% | 5.11% | 47.97% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 26.83% |
Bonds | 0.00% | 0.00% | 2.66% | 28.46% |
RAIIX - Expenses
Operational Fees
RAIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.19% | 0.01% | 41.09% | 68.29% |
Management Fee | 0.90% | 0.00% | 1.75% | 39.84% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.05% | 0.26% | 10.00% |
Sales Fees
RAIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
RAIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
RAIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 76.00% | 8.00% | 236.00% | 80.81% |
RAIIX - Distributions
Dividend Yield Analysis
RAIIX | Category Low | Category High | RAIIX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.30% | 0.00% | 5.61% | 43.90% |
Dividend Distribution Analysis
RAIIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
RAIIX | Category Low | Category High | RAIIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.14% | -1.81% | 1.51% | 61.86% |
Capital Gain Distribution Analysis
RAIIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 13, 2023 | $0.298 | OrdinaryDividend |
Dec 14, 2021 | $3.621 | OrdinaryDividend |
Dec 17, 2019 | $0.061 | OrdinaryDividend |
Dec 18, 2018 | $0.067 | OrdinaryDividend |
Dec 18, 2017 | $0.029 | OrdinaryDividend |
Dec 15, 2014 | $0.009 | OrdinaryDividend |
Dec 16, 2013 | $0.013 | OrdinaryDividend |
Dec 17, 2012 | $0.031 | OrdinaryDividend |
RAIIX - Fund Manager Analysis
Managers
Henrik Strabo
Start Date
Tenure
Tenure Rank
Mar 28, 2012
10.18
10.2%
Henrik Strabo is the Chief Investment Officer and Portfolio Manager at Rainier. In this position, he is responsible for building and managing Rainier's international investment strategies. Prior to joining Rainier in 2011, he was Managing Director of Global Emerging Markets for Rogge Capital. His more than 30 years of previous experience also includes International Chief Investment Officer positions at American Century Investments and Clay Finlay. While at American Century, Henrik 's responsibilities included launching new global and international equity strategies, as well as portfolio management duties for their International Discovery Fund and International Growth Fund. Henrik earned his BA in Business Administration from the University of Washington.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.17 | 28.52 | 5.69 | 0.17 |