Mutual fund investing involves risk; principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in asset-backed and mortgage-backed securities include additional risks such as credit and prepayment risks, possible illiquidity and default and susceptibility to adverse economic developments. The Advisor has an agreement in place to limit expenses. However, the expense limits currently have not been exceeded.
†Three rating agencies are used: Moody’s, S&P and Fitch. Typically there are three ratings on every bond. If the three ratings are not identical, Rainier will use the following procedures: 1) If one of the three ratings is different, we will use the dominant rating (the rating that is the same from two rating agencies), 2) If all ratings are different, we will use the middle rating, and 3) If there are only two ratings, we will use the higher rating.
The Balanced Index consists of 60% Standard & Poor’s 500 Index®, 35% Barclays Capital U.S. Intermediate Government/Credit Bond Index and 5% 91-Day U.S. Treasury Bill Index. The index is not available for investment and does not incur charges or expenses. Actual asset allocation of the Balanced Composite may vary from the Balanced Index. The S&P 500 is an unmanaged index composed of 500 industrial, utility, transportation and financial companies of the U.S. markets. The Barclays Capital U.S. Intermediate Government/Credit Bond Index is an unmanaged index composed of all bonds covered by the Barclays U.S. Credit Index with maturities between one and 9.99 years. The 91-Day U.S. Treasury Bill Index is an unmanaged index of equal dollar amounts of three-month Treasury bills purchased at the beginning of each of three consecutive months. These Indices are not available for investment and do not incur charges or expenses. The principal and interest payments of government securities are guaranteed while the Fund offers no such guarantee. Fund holdings and sector weightings are subject to change at any time due to ongoing portfolio management. References to specific investments should not be construed as a recommendation by the Fund or the Advisor to buy and sell securities. The Median Market Cap represents the market capitalization of the stock which is the midpoint of the stocks in the portfolio or benchmark. Weighted Average Market Cap represents the average market capitalization of the portfolio or benchmark based on a dollar-weighted average. The Price to Earnings (P/E) Ratio reflects the multiple of earnings at which a stock sells. The P/E ratio above uses analyst consensus earnings for the next year as the measure of earnings. Earnings per share (EPS) is total earnings divided by the number of shares outstanding. 1 year projected EPS growth is the rate at which a consensus of analysts believes that EPS will grow in the next year. Projected EPS Growth is not a measure of the fund's future performance. The PEG ratio is the forward P/E ratio divided by the projected EPS growth rate.
Source: Rainier Balanced composite, Large Cap Equity Portfolio, Rainier Balanced Portfolio and BNY Mellon Performance & Risk Analytics, LLC.
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