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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      Financial Professional & Media Contact
      • Joanne NewgardJoanne Newgard
        Director of Client Services & Media Relations


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

    2. Making Headlines

      The Motley Fool Cites Charlie Dreifus' Active Management Style

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      Royce Special Equity Fund

      The Motley Fool recently published an article entitled "Is Active Management Dead?" written by Amanda B. Kish (July 19, 2011).

      The article addresses the view that actively managed mutual funds have fallen out of favor since the last market downturn. "Not so fast" cautions Kish.

      "The truth is that there are still a small handful of actively managed funds that can beat the market over a long-term time period. These are the funds with low costs, a long-tenured manager or management team, a consistent investment process, and solid results in both good and bad market environments," she said.

      "A lot of funds that focus on higher-quality, more financially stable stocks have found themselves shut out of the biggest gains in the rally of the past two-plus years, but that doesn't mean they are doomed to underperform in perpetuity. Royce Special Equity falls into that category."

      Kish points out the importance of a long-term perspective. "[Charlie] Dreifus has been with the fund since its 1998 inception, using the same valuation-conscious investment process, and the fund has held up extraordinarily well in previous downturns, while still producing decent returns in most bull markets. Those are all keys to long-term success and things you should look for when trying to identify those elusive actively managed funds that can consistently beat the market."

      Mr. Dreifus also serves as Portfolio Manager of Royce Royce Special Equity Multi-Cap Fund [RSEMX].

      go Read the full article at www.fool.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. The 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 6/30/11, 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. 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.

      [View the Fund's profile page for the Fund's 1-, 5-, and 10-year performance information.]

      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.