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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.44

$567 M

0.99%

$0.23

1.47%

Vitals

YTD Return

4.5%

1 yr return

7.9%

3 Yr Avg Return

-4.5%

5 Yr Avg Return

7.0%

Net Assets

$567 M

Holdings in Top 10

22.0%

52 WEEK LOW AND HIGH

$23.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.47%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 76.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.44

$567 M

0.99%

$0.23

1.47%

RISAX - Profile

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return -4.5%
  • 5 Yr Annualized Total Return 7.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.41%
DIVIDENDS
  • Dividend Yield 1.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Rainier International Discovery Series
  • Fund Family Name
    Manning & Napier
  • Inception Date
    Mar 28, 2012
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Henrik 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.

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RISAX - Performance

Return Ranking - Trailing

Period RISAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -5.4% 9.8% 36.00%
1 Yr 7.9% -15.5% 34.8% 84.80%
3 Yr -4.5%* -26.2% 1.3% 59.48%
5 Yr 7.0%* -7.6% 10.2% 19.30%
10 Yr 6.4%* 0.8% 7.4% 13.41%

* Annualized

Return Ranking - Calendar

Period RISAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -16.8% 28.8% 85.60%
2022 -30.6% -46.4% -21.4% 48.76%
2021 1.5% -30.6% 16.4% 44.35%
2020 38.6% -1.5% 62.8% 14.78%
2019 24.7% 9.7% 44.0% 44.64%

Total Return Ranking - Trailing

Period RISAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -5.4% 9.8% 36.00%
1 Yr 7.9% -15.5% 34.8% 84.80%
3 Yr -4.5%* -26.2% 1.3% 59.48%
5 Yr 7.0%* -7.6% 10.2% 19.30%
10 Yr 6.4%* 0.8% 7.4% 13.41%

* Annualized

Total Return Ranking - Calendar

Period RISAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% -16.5% 30.7% 92.80%
2022 -30.6% -46.4% -18.5% 58.68%
2021 13.9% -30.6% 24.7% 25.22%
2020 41.1% 1.6% 68.3% 14.78%
2019 24.7% 9.7% 44.0% 68.75%

NAV & Total Return History


RISAX - Holdings

Concentration Analysis

RISAX Category Low Category High RISAX % Rank
Net Assets 567 M 25.2 K 6.04 B 40.48%
Number of Holdings 101 39 1618 50.79%
Net Assets in Top 10 120 M 686 K 1.06 B 42.86%
Weighting of Top 10 22.00% 5.3% 53.0% 60.32%

Top 10 Holdings

  1. DREYFUS GOVERN CASH MGMT-I 4.56%
  2. Varun Beverages Ltd 2.50%
  3. Indian Hotels Co Ltd 2.30%
  4. Rheinmetall AG 2.05%
  5. TFI International Inc 1.88%
  6. Fugro NV 1.80%
  7. Internet Initiative Japan Inc 1.77%
  8. NHPC Ltd 1.75%
  9. Saab AB 1.74%
  10. Sojitz Corp 1.66%

Asset Allocation

Weighting Return Low Return High RISAX % Rank
Stocks
96.45% 89.56% 99.81% 50.79%
Cash
4.56% 0.00% 11.63% 27.78%
Preferred Stocks
0.00% 0.00% 8.16% 90.48%
Other
0.00% -0.09% 5.11% 85.71%
Convertible Bonds
0.00% 0.00% 0.00% 85.71%
Bonds
0.00% 0.00% 2.66% 87.30%

RISAX - Expenses

Operational Fees

RISAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.47% 0.01% 41.09% 46.03%
Management Fee 0.90% 0.00% 1.75% 45.24%
12b-1 Fee 0.25% 0.00% 1.00% 52.83%
Administrative Fee N/A 0.05% 0.26% 22.50%

Sales Fees

RISAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% 47.83%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

RISAX 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.

RISAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 76.00% 8.00% 236.00% 83.33%

RISAX - Distributions

Dividend Yield Analysis

RISAX Category Low Category High RISAX % Rank
Dividend Yield 0.99% 0.00% 5.54% 49.21%

Dividend Distribution Analysis

RISAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

RISAX Category Low Category High RISAX % Rank
Net Income Ratio -0.41% -1.81% 1.51% 77.69%

Capital Gain Distribution Analysis

RISAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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RISAX - 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 5.66 0.17