Who We Are

Who is Royce

At The Royce Funds, we are dedicated to providing you with experienced and disciplined management of smaller-company value portfolios, both domestic and international. Smaller-company value investing is our only business.

The Royce Funds includes 22 open-end mutual funds, three closed-end funds and two open-end mutual funds offered to variable annuity and variable life insurance companies. We pay close attention to risk and maintaining our discipline, regardless of market movements and trends. Over the years, we’ve added many new funds, all of which bear a strong Royce family resemblance and hold true to our core investment philosophy.

Royce & Associates, LLC, is one of the industry’s most experienced and highly respected smaller-company value investment managers. When Chuck Royce took over the firm in 1972, he worked with just a handful of employees and ran just one mutual fund. Today, our staff numbers more than 100, including 29 investment professionals. At Royce, it’s important to us that your financial goals are also our financial goals.  Of the $30 billion of investors’ assets we managed as of 12/31/07, approximately $123 million represented the personal investments of our staff.

Key Points

• Smaller company investing is our only business
• Founded in 1972 by Charles M. Royce, one of the pioneers of small-cap investing
• Wholly owned, independent subsidiary of Legg Mason, Inc. since October 1, 2001
• Registered investment adviser based in New York City
• $30 billion in assets under managements as of 12/31/07

Why Rely on Royce?

Wealth of Experience

Charles M. Royce, our President and Chief Investment Officer since 1972, enjoys one of the longest investment management tenures.  Mr. Royce is supported by an investment team of more than 29 investment professionals.

Multiple Funds, Common Focus

Unlike a lot of mutual fund groups with broad product offerings, we have chosen to concentrate on small-company value investing by providing investors with a range of funds that take full advantage of this large and diverse sector.

Consistent Discipline

Our approach emphasizes paying close attention to risk and maintaining the same discipline, regardless of market movements and trends. The price we pay for a security must be significantly below our appraisal of its current worth. This requires a thorough analysis of the financial and business dynamics of an enterprise, as though we were purchasing the entire company.

Co-Ownership Of Funds

It is important that our employees and shareholders share a common financial goal. Our officers, employees and their families currently have approximately $123 million invested in The Royce Funds.