News

We are very proud of the long-term track records of our funds, so it's always a big deal when one of our portfolios reaches a milestone on the calendar.

On May 1, 2008, Royce Special Equity Fund, managed by Charlie Dreifus, marked its 10-year anniversary.

Charlie is known for his passionate, disciplined approach to smaller-company value investing and has often characterized this approach, and his aversion to risk, as "jumping off a pancake."

His emphasis on capital preservation can best be described with his paraphrase of a favorite Will Rogers quote: "I'm as concerned with the return of my money as much as the return on my money."

Please join us in congratulating Charlie on a terrific 10 years and our best wishes for many more. Royce Special Equity Fund joins Royce Pennsylvania Mutual, Micro-Cap, Premier, Low-Priced Stock, Total Return, Heritage, and Opportunity Funds in the "10-Year Club."

Read more about Charlie's unique approach to value investing in our April 15 Manager Commentary, Charlie Dreifus on the Importance of Capital Preservation.

Please read the prospectus carefully before investing or sending money. Distributor: Royce Fund Services, Inc.