Making Headlines

"'Rocky' is the only way to describe the way this year began for mutual funds," claims OnWallStreet.com's Helen Kearney in her article "The White Knuckle Ride".

She profiles several notable performing funds, including Royce Global Select Fund (RSFTX). "Scrap metal may not be the sexiest industry around," writes Kearney, "but Royce's Whitney George credits it with boosting his small-cap fund's performance over the past year."

Kearney credits George's broader investment philosophy—"a disciplined, long-term approach" that is not swayed by "current fads"—as key to the Fund's success.

Kearney even includes a bit of history on George's investment career: "George honed this approach early in his career, when, fresh out of college with a history degree, he joined Oppenheimer in 1980. After losing money in energy and technology stocks he decided to focus on 'less-exciting stories' and began researching undervalued companies to sell to retail investors."

Royce Global Select Fund's annual operating expenses were 2.42%, and its average annual total returns for the one-year and since inception (6/30/05) periods ended March 31, 2008, were 3.87% and 18.31%. Click here for the Fund's returns as of the most recent month end.

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 three years of purchase may be subject to a 2% redemption fee payable to the Fund. Current performance may be higher or lower than performance quoted.

Operating expenses for Royce Global Select Fund reflect the Fund's total annual operating expenses as of the most current prospectus and includes the Fund's management fee based on 12.5% of the Fund's pre-fee, high-watermark total return of 19.20% in 2007. Royce has contractually agreed to absorb all other operating expenses of the Fund, other than dividend expenses relating to any short selling activity of the Fund.

Only persons who are "qualified investors" may invest. The Fund's initial minimum investment is $50,000.