Investment Strategy

The Ranger Small Cap Fund (RFISX) seeks long term capital appreciation by investing in growth-oriented U.S. exchange traded equities of small capitalization companies. Ranger’s investment team further seeks to capture and compound returns, manage risk and preserve capital by employing a disciplined, consistent approach to both security selection and risk management. The investment team searches for quality growth companies by implementing a bottom-up, fundamental research driven security selection process. The focus in the research process is on identifying small capitalization U.S. equities characterized by accelerating revenue and earnings growth, high recurring revenues, strong balance sheets and free cash flow generation.

Fund Terms

Investment Type:
Equities – U.S. Small Cap Growth

Portfolio Manager:
W. Conrad Doenges

Fund Inception Date:
September 29, 2011

Institutional Class
Ticker Symbol: RFISX
CUSIP: 75281Y 206

Investment Adviser:
Ranger Investment
Management, L.P.

Adviser Inception Date:
October 17, 2002

Investment Approach:
Bottom-up, Fundamental Research

Investment Strategy

The Ranger Micro Cap Fund (RFIMX) seeks long term capital appreciation by investing in growth-oriented U.S. exchange traded equities of micro capitalization companies. Ranger’s investment team further seeks to capture and compound returns, manage risk and preserve capital by employing a disciplined, consistent approach to both security selection and risk management. The investment team searches for quality growth companies by implementing a bottom-up, fundamental research driven security selection process. The focus in the research process is on identifying micro capitalization U.S. equities characterized by accelerating revenue and earnings growth, high recurring revenues, strong balance sheets and free cash flow generation.

Fund Terms

Investment Type:
Equities – U.S. Micro Cap Growth

Portfolio Manager:
W. Conrad Doenges

Fund Inception Date:
June 6, 2018

Institutional Class
Ticker Symbol: RFIMX
CUSIP: 75281Y404

Investment Adviser:
Ranger Investment
Management, L.P.

Adviser Inception Date:
October 17, 2002

Investment Approach:
Bottom-up, Fundamental Research

Ranger Quest for Income and Growth Fund

Institutional Class Shares: RFIDX

(a series of Ranger Funds Investment Trust)

Supplement dated November 10, 2020 to
the Prospectus and Statement of Additional Information dated November 29, 2019

The Board of Trustees of Ranger Funds Investment Trust (the “Board”) has concluded that it is in the best interests of the Ranger Quest for Income and Growth Fund (the “Fund”) and its shareholders that the Fund cease operations. The Board has determined to close the Fund and redeem all outstanding shares on November 30, 2020 (“Redemption Date”).

Effective immediately, the Fund will not accept any new investments. Effective November 15, 2020 the Fund will no longer pursue its stated investment objective, and will begin liquidating its portfolio and will invest in cash or cash equivalents such as money market funds until all shares have been redeemed.

Prior to or on the Redemption Date, you may redeem your shares, including reinvested distributions, in accordance with the “How to Redeem Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Status, Dividends and Distributions” section in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.

ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF THE FUND PRIOR TO THE REDEMPTION DATE WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. If you have questions or need assistance, please contact your financial advisor directly or the Fund at 1-866-458-4744.

This Supplement and the Prospectus and Statement of Additional Information dated November 29, 2019, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information have been filed with the Securities and Exchange Commission, are incorporated by reference and can be obtained without charge by calling the Fund at 1-866-458-4744.

How to Invest

Ranger Funds are distributed by Arbor Court Capital, LLC, and available for purchase via:

Mutual Shareholder Services
Independent Adviser Brokerage Networks
Financial Intermediaries

Mutual Shareholder Services

To invest in the Ranger Funds, please contact Mutual Shareholder Services at (866) 458-4744 or send a request to: info@rangerfunds.com. In addition, the mailing address for Mutual Shareholder Services is:

Ranger Funds Investment Trust
c/o Mutual Shareholder Services
8000 Town Centre Drive, Suite 400
Broadview Heights, Ohio 44147

Independent Adviser Brokerage Networks

Here you will find a list of brokerage firms currently offering Ranger Funds for Registered Advisors (RIA) and Institutions. Please contact the brokerage firm of your choice for additional information concerning:

  • Varying closing times within each particular brokerage firm
  • Some brokerage firms may impose transaction fees. It is important to note Ranger does not impose transaction
  • Minimum purchases and share class availability may vary within brokerage firms
  • The listing of brokerage firms is provided solely for informational purposes and is neither a recommendation nor a solicitation by Ranger to utilize the services of any brokerage firm.
    Ranger is not affiliated with the brokerage firms and neither sponsors nor endorses any particular brokerage firm or investment strategy.

Charles Schwab
Fidelity
TD Ameritrade
Pershing

Financial Intermediaries

If you are a representative with a broker dealer or independent firm, please email us at info@rangerfunds.com or call us at (214) 871-5206 to determine if Ranger has an agreement with your firm or to request one.

Mutual fund investing involves risk. Such risks associated with the Ranger Small Cap Fund, the Ranger Micro Cap Fund and the Ranger Quest for Income and Growth Fund (together, the “Ranger Funds”) as well as applicable investment objectives, charges and expenses must be considered carefully before investing. This and other important information about the Ranger Funds is found in the Prospectus, a copy of which may be obtained by clicking here or by contacting Mutual Shareholder Services at (866) 458-4744. We encourage you to read the prospectus carefully before investing.