Rainier Investment Management, Inc., adviser to the Rainier Funds, has launched the International Discovery Fund (RAIIX).

The fund will bet on equity securities of companies that have market capitalizations of $5 billion or less and are domiciled or have their primary operations outside the United States. It charges 100 basis points in management fees and is managed by a team composed of Henrik Strabo, head of international investments; Greg Ise, senior portfolio analyst and Derrick Tzau, portfolio analyst. Clients can invest via separate account, collective trust and mutual fund vehicles.

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