Who We Are

Who is Royce

At The Royce Funds, we are dedicated to providing you with experienced and disciplined management of small-cap portfolios, both domestic and international.

The Royce Funds includes 30 open-end mutual funds, three closed-end funds and two open-end mutual funds offered to variable annuity and variable life insurance companies. In each portfolio we pay close attention to risk and maintaining our discipline, regardless of market movements and trends. We've added new funds over the years, and each holds true to our core investment philosophy.

Royce & Associates, LLC, is one of the industry's most experienced and highly respected small-cap 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 more than 30 investment professionals.

Key Points

• Small-cap value investing is our core business
• The firm's founder, Chuck Royce, is considered 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
• $40 billion in assets under management as of 3/31/12

Why Rely on Royce?

Wealth of Experience

Royce & Associates is committed to the same small-cap value investing principles that have served us well for more than 35 years. Charles M. Royce, our President and Co-Chief Investment Officer, enjoys one of the longest tenures of any active mutual fund manager. Royce’s investment staff also includes Co-Chief Investment Officer W. Whitney George and more than 30 investment and trading professionals.

Multiple Funds, Common Focus

Our goal is to offer both individual and institutional investors the best available small-cap value funds. Unlike a lot of mutual fund groups with broad product offerings, we have chosen to concentrate on smaller-company 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 have substantial investments in The Royce Funds and are often among the largest individual shareholders.