Manning & Napier Buying Rainier

BenWP

I stumbled across this press release (http://rainierfunds.com/Documents/Rainier - Manning-Napier-press release.pdf) when looking into Rainier International Discovery. I had heard nothing of this proposed transaction. FWIIW, RISAX had a great year in 2015 and I was curious as to how they clocked my Grandeur Peak holdings. The big difference is in market caps; the Rainier fund, despite being classified as Sm-Mid Intl, holds 91% in lg-caps and mid-caps, and only 8% in sm-caps. GPIOX has no large caps and has almost all its holdings in small and micro caps. Apples and oranges, as the sage said. Grandeur Peak over-all has done very little since mid 2014, so GPEOX, GPGOX, and GPIOX are among my several bad ideas for 2015.

heezsafe

@BenWP Hey, you need to visit more often; JoJo caught it recently:
http://www.mutualfundobserver.com/discuss/discussion/24883/manning-napier-announces-agreement-to-acquire-majority-interest-in-rainier/p1

Ted

@MFO Members: If I'm not mistaken, I link the news on 12/23/15.
Regards,
Ted
http://www.mutualfundobserver.com/discuss/discussion/24935/manning-napier-buys-a-3b-shop-on-the-west-coast-rainier-investments#latest

JoJo26

@BenWP GPEOX beat its benchmark by more than 300 bps for the year... That's a bad idea? GPGOX beat its benchmark by nearly 300 bps as well. And GPIOX finished 2015 more than 150 bps ahead... What exactly makes these bad investments?

heezsafe

Remember, in addition to a relatively high e.r., RISAX has a high FEL. Perhaps, once in the M&N stable of no-load funds, they'll be able to eliminate the FEL, like FPA decided to do several yrs ago, making the offering more palatable for retail investors. More shares per invested dollar, better returns for Class A shares.

BenWP

I agree with @heezsafe that GP funds do well against the competition. For me, it was a bad idea to be invested in EM and international in the same way that it was a bad idea for me to be in small value and dividend funds last year. I guess the search function on the discussion board did not pick up "Rainier" when I put it in before writing my post. This board is like being in a trench in 1916: put your head up and someone will fire.