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Royce Value Fund (RYVFX)
Service Class
Open to New Investors
- NAV as of 8/7/2008 $10.90
- Daily NAV change
Management Team
Portfolio Managers
- W. Whitney George
- 27 Years of Experience;
- 16 Years at Royce
- Jay S. Kaplan
- 19 Years of Experience;
- 5 Years at Royce
Assistant Portfolio Managers
- Lauren A. Romeo
- 15 Years of Experience;
- 4 Years at Royce
Top 10 Positions
| Share of Net Assets | |
|---|---|
| Oil States International | 3.5% |
| Unit Corporation | 3.4% |
| Reliance Steel & Aluminum | 3.0% |
| Gardner Denver | 2.7% |
| Sims Group ADR | 2.4% |
| Lincoln Electric Holdings | 2.4% |
| Knight Capital Group Cl. A | 2.3% |
| Pan American Silver | 2.3% |
| Silver Standard Resources | 2.1% |
| Schnitzer Steel Industries Cl. A | 1.9% |
| Top 10 as % of Total | 25.8% |
Objective and Strategy
Royce Value Fund seeks long-term growth of capital by investing primarily in a portfolio of small- and mid-cap companies (those with stock market capitalizations between $500 million and $5 billion) that Royce believes are trading significantly below its estimate of their current worth. The Fund generally invests in securities of companies that have attractive balance sheets and high internal rates of return. We believe investors in the Fund should have a long-term investment horizon of at least three years.
Performance
Average Annual Total Returns
| 2Q* | YTD* | 1YR | 3YR | |
|---|---|---|---|---|
| RYVFX | 7.69% | 7.89% | -1.41% | 14.52% |
| Russell 2000 | 0.58% | -9.37% | -16.19% | 3.79% |
| 5YR | Since Incept | |
|---|---|---|
| RYVFX | 19.97% | 15.88% |
| Russell 2000 | 10.29% | N/A |
Annual Operating Expenses
| 1.43% |
Important Performance and Expense Information
All performance information reflects past performance, is presented on a total return basis and reflects the reinvestment of distributions. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, so that shares may be worth more or less than their original cost when redeemed. Shares redeemed within 180 days of purchase may be subject to a 1% redemption fee payable to the Fund. Current performance may be higher or lower than performance quoted.
Annual operating expenses reflect the Fund's total annual operating expenses for the Service Class as of the Fund's most current prospectus and include management fees, 12b-1 distribution and service fees.
Fund Statistics
| Ticker Symbol | RYVFX |
|---|---|
| Fund Net Assets (All Classes) | $1.21 billion |
| Number of Holdings | 79 |
| Minimum Investment | $2,000 |
| Cusip Number | 780905733 |
| Fund Number | 291 |
| Inception Date | 6/14/2001 |
| Benchmark Index | Russell 2000 |
Growth of Hypothetical $10,000
Invested 6/14/2001
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. As of 12/31/07, the Fund held a limited number of stocks which may involve considerably more risk than a less concentrated portfolio because a decline in the value of these stocks would cause the Fund’s overall value to decline to a greater degree (see "Primary Risks for Fund Investors" in the prospectus). The Fund invests primarily in small- and mid-cap stocks which may involve considerably more risk than investing in larger-cap stocks (see "Primary Risks for Fund Investors" in the prospectus). The Russell 2000 is an unmanaged, capitalization-weighted index of domestic small-cap stocks. It measures the performance of the 2,000 smallest publicly traded U.S. companies in the Russell 3000 index. Distributor: Royce Fund Services, Inc.
© Royce & Associates, LLC, 1414 Avenue of the Americas, New York, NY
10019, (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. View our Policies & Procedures, including, among others, our Sarbanes-Oxley Code of Ethics, Privacy Policy and Proxy Voting Guidelines and Procedures.