Rainier launches Rainier International Discovery Fund

By Toni Weeks

San Diego, March 27 - Rainier Investment Management Mutual Funds announced it has launched the Rainier International Discovery Fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund will launch on Wednesday with institutional shares. The ticker symbol is "RAIIX."

The fund seeks long-term capital appreciation and will, under normal conditions, invest primarily in equity securities of companies that are small to medium-sized at the time of purchase and are located in foreign developed countries and emerging market countries. The companies must have strong earnings prospects relative to their peers as well as attractive overall business fundamentals.

Henrik Strabo is the portfolio manager.

There are no shareholder fees. Management fees are 1%. A fee waiver agreement with the adviser, Seattle-based Rainier Investment Management, Inc., limits total annual operating expenses to 1.25% of the fund's average daily net assets through July 31, 2013.

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