Archived Material: Important Performance Information

Archived material may contain dated performance, risk and other information; please view returns as of the most recent quarter end and month end. Due to changing circumstances over time, statements made in archived material may or may not have continued applicability or relevance in today's environment. Any thoughts concerning market movements and future prospects for small-company stocks are solely those of Royce & Associates, LLC, and, of course, there can be no assurance with regard to future market movements. Small- and micro-cap stocks may involve considerably more risk than larger-cap stocks.

All performance information reflects past performance, is presented on a total return basis and reflects reinvestment of distributions. Current performance may be higher or lower than performance quoted. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares may be worth more or less than their original cost when redeemed. Please read the fund's prospectus carefully and consider a fund's investment goals, risks, fees and expenses before investing or sending money. The prospectus contains this and other information. The Russell 2000, Russell 2000 Value, Russell 2000 Growth, S&P 500, S&P 600, NASDAQ Composite and DJIA are unmanaged indexes of domestic common stocks. Distributor: Royce Fund Services, Inc.

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    1. News & Commentary
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      • Joanne NewgardJoanne Newgard
        Director of Client Services & Media Relations


        Contact (800) 562-0880 or joanne@roycefunds.com

    2. Making Headlines

      Morningstar Cites Royce Special Equity Fund Among "Great Mutual Funds"

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      Royce Special Equity Fund

      Royce Special Equity Multi-Cap Fund

      "What's a Core Holding Anyway?," a recent Morningstar Hot Topics article (4/26/11) written by Christine Benz, examines what is meant by that term.

      A commonly held definition equates core holding with broad market exposure, but Benz points out that strong correlation to the market or benchmark is unlikely to lead to outperformance.

      She also notes that scores of "great mutual funds" that are considered core holdings veer significantly from the index. She cites several specific examples, including Royce Special Equity Fund.

      "Their managers actively focus on exploiting opportunities that other investors are missing, not simply matching the market. Due to that mindset, they've been able to deliver performance that's different, and wildly better, than the market. Those funds clearly demonstrate that an investor who employs the "core equals broad market exposure" mindset will be ignoring some stellar offerings. They also prove that low market correlation doesn't have to equal above-market risk."

      Charlie Dreifus is the Portfolio Manager of Royce Special Equity Fund. [View the Fund's profile page for the Fund's 1-, 3-, and 10-year performance information.] He also manages the recently-introduced Royce Special Equity Multi-Cap Fund.

      go Read the full article at Morningstar.com.

       

      Important Disclosure Information


      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. Royce Special Equity Fund invests primarily in small-cap and micro-cap stocks which may involve considerably more risk than investing in larger-cap stocks. (Please see "Primary Risks for Fund Investors" in the prospectus.) As of 3/31/11, 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 any one of these stocks would cause the Fund's overall value to decline to a greater degree. 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.

      Royce Special Equity Multi-Cap Fund generally invests in securities of mid-cap and large-cap companies. Mid-cap companies 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 net assets in foreign securities, which may involve political, economic, currency and other risks not encountered in U.S. investments (Please see "Investing in Foreign Securities" in the prospectus). The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe and includes the largest 1,000 companies in the Russell 3000 index.

      Past performance is no guarantee of future results.

      Distributor: Royce Fund Services, Inc.

       

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  • © 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.