<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000917125
<NAME> RAINIER INVESTMENT MANAGEMENT MUTUAL FUNDS
<SERIES>
<NUMBER> 1
<NAME> SMALL/MID CAP EQUITY PORTFOLIO
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> MAR-31-2000
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 401995732
<INVESTMENTS-AT-VALUE> 468017318
<RECEIVABLES> 15646247
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 483663565
<PAYABLE-FOR-SECURITIES> 14690228
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 735389
<TOTAL-LIABILITIES> 15425617
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 346153411
<SHARES-COMMON-STOCK> 16259565
<SHARES-COMMON-PRIOR> 21706014
<ACCUMULATED-NII-CURRENT> 11470
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 56051481
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 66021586
<NET-ASSETS> 468237948
<DIVIDEND-INCOME> 3922994
<INTEREST-INCOME> 309756
<OTHER-INCOME> 0
<EXPENSES-NET> 5270829
<NET-INVESTMENT-INCOME> (1038079)
<REALIZED-GAINS-CURRENT> 85726484
<APPREC-INCREASE-CURRENT> 75339005
<NET-CHANGE-FROM-OPS> 160027410
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4421836
<NUMBER-OF-SHARES-REDEEMED> 9868285
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 38210398
<ACCUMULATED-NII-PRIOR> 5158
<ACCUMULATED-GAINS-PRIOR> (28630612)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3602997
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5270829
<AVERAGE-NET-ASSETS> 423112677
<PER-SHARE-NAV-BEGIN> 19.81
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 9.05
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 28.80
<EXPENSE-RATIO> 1.25
</TABLE>
