article 08-07-2014

Asset.tv's Small-Cap Equities Masterclass Features Steven McBoyle

Portfolio Manager Steven McBoyle joins Asset.tv host Evan Cooper and a panel of small-cap asset managers to discuss current opportunities, investment approaches, and more.

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"Certainly we are very bullish on the U.S. economy, particularly when compared to the rest of the world," said Portfolio Manager Steven McBoyle in his July 9, 2014 appearance on Asset.tv's Small-Cap Equities Masterclass.

"At The Royce Funds, we'll continue to do what we've been doing for some 40 plus years, which is investing in financial strength, meaning strong balance sheets," said Steven.

"Secondarily, investing in companies that have high returns on capital and that have a sustainable profile in that zone, and also companies that have attractive, absolute valuations," he added.

Steven, who was joined by small-cap asset managers Rich Glass of Deutsche Asset & Wealth Management and Kelly McKee of Delaware Investments, also talked in detail about current opportunities in the small-cap universe; monitoring style drift; using the inherent volatility of the asset class to his advantage; Royce's investment approach; and more.

"[Small-caps] are generally not names that are being discussed around the dinner table," said Steven. "These are actually businesses that generally are very much off the radar screen, and that's just fine with us," he added.

Steven McBoyle has 23 years of investment industry experience, seven of which at Royce. He manages Royce Heritage Fund (with Chuck Royce and Jim Harvey), Royce SMid-Cap Value Fund (with Whitney George), and Royce Enterprise Select Fund.

Important Disclosure Information

The thoughts expressed in the video are solely those of the person speaking and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.

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. Investments in securities of small-cap companies may involve considerably more risk than investments in securities of larger-cap companies. (See "Primary Risks for Fund Investors" in the prospectus.) Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group. 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. The performance of an index does not represent exactly any particular investment, as you cannot invest directly in an index.

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