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The Royce Funds

Small-cap value investing for more than 35 years

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View daily prices and performance, access your account, and learn more about our disciplined small-cap value approach.
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  1. I Want To . . .
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  2. Royce Mid-Cap Fund (RMIDX)

    Service Class
    QUALITY + FOCUSED

    Quality + Focused funds generally employ a more limited portfolio approach-typically holding no more than 100 positions that we believe possess high quality.

     

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    1. Open to New Investors

      NAV as of 3/19/2010  $10.42
      Daily NAV change  -$0.08 (-0.76%)

      2. Recent News on this Fund

Performance
Composition
Risk Analysis

    1. Management Team

      Portfolio Managers

      W. Whitney George
      Carl D. Brown
      • Carl D. Brown
      • 15 Years of Experience;
      • Less Than One Year at Royce
      Jim P. Stoeffel
      Brendan J. Hartman

      Literature & Research

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    2. Royce Mid-Cap Fund (RMM) seeks long-term growth of capital. The Fund invests primarily in equity securities of mid-cap companies with market capitalizations from $2.5 billion to $15 billion that Royce believes are trading below its estimate of their current worth. The Fund generally seeks to invest in securities of companies that Royce believes have excellent business strengths, high internal rates of return and exhibit above-average prospects. The Fund seeks to accomplish its objectives by employing a disciplined value approach that looks at the financial and operating dynamics of a business in an attempt to identify companies whose market value differs from Royce’s assessment of its intrinsic/business or “current worth” and, identifying what Royce believes are opportunistic situations for such undervalued companies. Such opportunistic situations may include turnarounds, companies with interrupted earnings patterns, companies with unrecognized asset values, and companies with misplaced investor concerns or underappreciated potential.

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      1. Fund Statistics
        as of Quarter-End, 12/31/2009

        Ticker Symbol RMIDX
        Weighted Average P/E Ratio**
        Minimum Investment $2,000
        Cusip Number 78081A204
        Fund Number 582
        Inception Date 12/31/2009
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      1. NAV History

        Previous 12 Months Ending 2/28/2010
        High $10.11 1/06/10
        Low $9.47 2/08/10
        Previous Month Ending 2/28/2010
        High $9.99 2/19/10
        Low $9.47 2/08/10

        NAV Search


      2. Year-End NAVs

        Year NAV
        2009 $10.00

  3. Portfolio Managers

    W. Whitney George

    W. Whitney George

    • Co-Chief Investment Officer, Portfolio Manager and Managing Director

    W. Whitney George is a Co-Chief Investment Officer, Portfolio Manager and a Managing Director of Royce & Associates, LLC, investment adviser to The Royce Funds.

    View Full Bio

    Education

    • BA, Trinity College

    Experience

    • 29 Years of Experience
    • 18 Years at Royce
    Carl D. Brown

    Carl D. Brown

    • Portfolio Manager

    Carl D. Brown is a Portfolio Manager for Royce & Associates, LLC, investment adviser to The Royce Funds.

    View Full Bio

    Education

    • BA, University of Pennsylvania
    • MBA, New York University

    Experience

    • 15 Years of Experience
    • Less Than One Year at Royce
    Jim P. Stoeffel

    Jim P. Stoeffel

    • Portfolio Manager

    James P. Stoeffel is a Portfolio Manager for Royce & Associates, LLC, investment adviser to The Royce Funds.

    View Full Bio

    Education

    • BA, Washington & Lee University
    • MBA, New York University

    Experience

    • 16 Years of Experience
    • Less Than One Year at Royce
    Brendan J. Hartman

    Brendan J. Hartman

    • Portfolio Manager

    Brendan J. Hartman is a Portfolio Manager for Royce & Associates, LLC, investment adviser to The Royce Funds.

    View Full Bio

    Education

    • BA, Lehigh University
    • MBA, New York University

    Experience

    • 14 Years of Experience
    • Less Than One Year at Royce

    3. Portfolio Sector Breakdown
      as of Quarter-End 12/31/2009
      as of Month-End 2/28/2010
      % of Net Assets (Subject to Change)

      Treasuries, Cash & Cash Equivalents
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    1. Fees

      Shareholder Fees
      (fees paid directly from your investment)
      Maximum sales charge (load) imposed on purchases none
      Maximum deferred sales charge none
      Maximum sales charge (load) imposed on reinvested dividends none
      Early Redemption Fee
      On purchases held for 180 days or more none
      On purchases held for less than 180 days 1.00%

    2. Annual Fund Operating Expenses

      (expenses deducted from Fund assets)
      Management Fees 1.00%
      Distribution (12b-1) Fees 0.25%
      Other Expenses 0.50%
      Total Annual Fund Operating Expenses 1.75%
      Expense Reimbursements (0.26)%
      Net Annual Fund Operating Expenses 1.49%

      Royce has contractually agreed to waive its fees and reimburse expenses to the extent necessary to maintain the Fund's net annual operating expense ratio at or below 1.49% through April 30, 2013. "Other expenses" are estimated for the current fiscal year.

    3. Account Minimums

      To Open an Account
      Regular $2,000
      Traditional/Roth IRA/Coverdell ESA $1,000
      Automatic Investment and Direct Deposit Plans $1,000
      401(k)s none
      Subsequent Investments
      All Account Types $50


  7. This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Please read the prospectus carefully before investing or sending money. The Fund invests primarily in mid-cap stocks, which may involve considerably more risk than investing in larger-cap stocks (Please see “Primary Risks for Fund Investors” in the prospectus). The Fund may invest up to 25% of its assets in foreign securities that may involve political, economic, currency and other risks not encountered in U.S. investments (see "Investing in Foreign Securities" in the prospectus).

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    Download literature for Royce Mid-Cap Fund

  8. © Royce & Associates, LLC, 745 Fifth Avenue, New York, NY 10151, (800) 221-4268. All rights reserved. Distributor of The Royce Fund and Royce Capital Fund: Royce Fund Services, Inc., a wholly owned subsidiary of Royce & Associates. The Royce Funds are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. View our Policies & Procedures, including, among others, our Sarbanes-Oxley Code of Ethics, Privacy Policy and Proxy Voting Guidelines and Procedures.