RAINIER INVESTMENT MANAGEMENT MUTUAL FUNDS
Rainier Mid Cap Equity Fund
Rainier Small/Mid Cap Equity Fund
Rainier Large Cap Equity Fund
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SUPPLEMENT TO PROXY STATEMENT AND PROSPECTUS DATED JULY 14, 2017
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2,122,162 Original Class shares of the Rainier Large Cap Equity Fund outstanding and entitled to vote (including omnibus accounts representing multiple underlying beneficial owners such as those in the names of brokers), representing total net assets of approximately $44,662,412.
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460,277 Institutional Class shares of the Rainier Large Cap Equity Fund outstanding and entitled to vote (including omnibus accounts representing multiple underlying beneficial owners such as those in the names of brokers), representing total net assets of approximately $10,022,701.
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Rainier Large Cap Equity Fund - Original Class
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Shares
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Percentage
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Charles Schwab & Co. Inc. *
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1,015,295
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47.92%
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Special Custody Account for the Benefit of Customers
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Attn: Mutual Funds
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San Francisco, CA 94105-1905
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National Financial Services LLC *
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701,244
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33.10%
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For Exclusive Benefit of our Customers
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Attn: Mutual Funds Dept. 4th FL
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Jersey City, NJ 07310-2010
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Rainier Large Cap Equity Fund - Institutional Class
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Shares
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Percentage
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Capinco C/O US Bank NA
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101,741
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22.10%
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Milwaukee, WI 53212-3958
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TD Ameritrade, Inc. *
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93,346
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20.28%
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For the Exclusive Benefit of our Clients
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P.O. Box 2226
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Omaha, NE 68103-2226
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National Financial Services LLC *
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89,463
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19.44%
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For Exclusive Benefit of our Customers
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Attn: Mutual Funds Dept. 4th FL
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Jersey City, NJ 07310-2010
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Charles Schwab & Co. Inc. *
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62,298
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13.53%
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Special Custody Account for the Benefit of Customers
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Attn: Mutual Funds
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San Francisco, CA 94105-1905
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Great-West Trust Company LLC *
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45,737
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9.94%
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The Royal Bank of Scotland
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Greenwood Village, CO 80111-5002
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* Owned of record.
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Hennessy Cornerstone Large Growth Fund – Investor Class
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Shares
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Percentage
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Charles Schwab & Co. Inc. *
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561,306
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7.13%
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Special Custody Account for the Benefit of Customers
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Attn: Mutual Funds
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San Francisco, CA 94105-1905
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National Financial Services LLC *
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435,018
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5.53%
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For Exclusive Benefit of our Customers
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Attn: Mutual Funds Dept. 4th FL
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Jersey City, NJ 07310-2010
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Hennessy Cornerstone Large Growth Fund – Institutional Class
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Shares
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Percentage
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National Financial Services LLC *
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207,100
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19.66%
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For Exclusive Benefit of our Customers
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Attn: Mutual Funds Dept. 4th FL
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Jersey City, NJ 07310-2010
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Charles Schwab & Co. Inc. *
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133,837
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12.71%
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Special Custody Account for the Benefit of Customers
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Attn: Mutual Funds
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San Francisco, CA 94105-1905
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* Owned of record.
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Hennessy Cornerstone Large Growth Fund –
Investor Class Pro Forma
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Shares
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Percentage
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Charles Schwab & Co. Inc. *
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2,358,780
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20.28%
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Special Custody Account for the Benefit of Customers
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Attn: Mutual Funds
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San Francisco, CA 94105-1905
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National Financial Services LLC *
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1,676,498
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14.42%
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For Exclusive Benefit of our Customers
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Attn: Mutual Funds Dept. 4th FL
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Jersey City, NJ 07310-2010
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Hennessy Cornerstone Large Growth Fund –
Institutional Class Pro Forma
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Shares
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Percentage
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National Financial Services LLC *
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369,339
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19.54%
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For Exclusive Benefit of our Customers
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Attn: Mutual Funds Dept. 4th FL
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Jersey City, NJ 07310-2010
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Charles Schwab & Co. Inc. *
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246,814
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13.06%
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Special Custody Account for the Benefit of Customers
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Attn: Mutual Funds
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San Francisco, CA 94105-1905
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Capinco C/O US Bank NA *
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184,507
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9.76%
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Milwaukee, WI 53212-3958
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TD Ameritrade, Inc. *
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169,281
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8.96%
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For the Exclusive Benefit of our Clients
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P.O. Box 2226
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Omaha, NE 68103-2226
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* Owned of record.
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IF YOU HAVE PREVIOUSLY VOTED YOUR SHARES AND DO NOT WISH TO CHANGE YOUR VOTE, no action is necessary. Unless we receive instructions from you to the contrary, we will vote your shares according to your instructions on your previously submitted proxy ballot(s) or pursuant to your instructions previously submitted by telephone or through the internet.
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IF YOU HAVE PREVIOUSLY VOTED YOUR SHARES AND WISH TO CHANGE YOUR VOTE, you may do so by following the applicable instructions that appear on the enclosed proxy card regarding voting by internet, telephone or mail or by calling the Rainier U.S. Funds’ proxy solicitor toll-free at 855-928-4498.
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IF YOU DID NOT PREVIOUSLY VOTE YOUR SHARES, please take a moment to vote your shares today by following the applicable instructions that appear on the enclosed proxy card regarding voting by internet, telephone or mail or by calling the Rainier U.S. Funds’ proxy solicitor toll-free at 855-928-4498. VOTING NOW WILL SAVE ADDITIONAL PROXY COSTS AND ELIMINATE PHONE CALLS TO YOU.
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Whether or not you plan to attend the meeting, we urge you to authorize proxies to cast your votes. You can do this in one of the following three ways: (1) by completing, signing, dating and promptly returning the enclosed proxy card in the enclosed postage prepaid envelope; (2) by calling the toll-free telephone number listed on your proxy card, or (3) via the Internet at the website shown on your proxy card. Your prompt voting by proxy will help ensure a quorum at the special meeting. Voting by proxy will not prevent you from voting your shares in person at the special meeting. You may revoke your proxy before it is exercised at the special meeting, either by writing to the Corporate Secretary of the Rainier Trust at the address noted in the Proxy Statement/Prospectus or in person at the time of the special meeting. A prior proxy can also be revoked by proxy voting again through the website or toll-free telephone number listed above.
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