Qualified Investor Funds

  Download a PDF of Royce's Qualified Investor Funds Brochure

A "qualified investor" is defined as one who meets the Securities and Exchange Commission’s definition of the term "qualified client." The term qualified client includes:

(a) an individual who, or a corporation, partnership, trust or other company that, Royce (and any person acting on its behalf) reasonably believes, immediately prior to the purchase, has a net worth (in the case of an individual, together with assets held jointly with a spouse, excluding the value of such individual's primary residence and debt secured by the property), of more than $2,000,000 at the time of the purchase; or

(b) an individual who, or a company that, immediately after the purchase owns Fund shares having a net asset value of at least $1,000,000.

The requirement that Fund shares be purchased only by qualified investors applies to both initial and subsequent investments in the Funds. Qualified investors (or any persons acting on their behalf) must represent to The Royce Fund and Royce in writing that they are investing in the Funds for their own accounts and not with a view to transferring their Fund shares or any interest in them to another person. The Royce Fund has imposed restrictions on transfers of the Funds' shares in order to prevent persons who are not qualified investors from purchasing them.

This information is also available in the prospectus.