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On September 13, 2011, SmartMoney published an article entitled "Is Europe Going to the PIIGS?" written by Reshma Kapadia. The author notes that "The debt woes overseas aren't likely to improve soon, but a few intrepid investors are heading to Europe anyway."
Kapadia quotes David Nadel, Royce's Director of International Research, on a number of topics, including Indonesia, and the stock markets of PIIGS (Portugal, Italy, Ireland, Greece and Spain) nations, noting that his strategy is to "stick with companies with strong balance sheets and returns on invested capital -- essentially, companies that can fund themselves rather than rely on securing new bank loans or selling bonds."
David Nadel is Director of International Research, and serves as Portfolio Manager for:
- Royce Global Value Fund (with Whitney George)
- Royce European Smaller-Companies Fund (with Chuck Royce)
- Royce International Smaller-Companies Fund (with Chuck Royce)
- Royce International Premier Fund
- Royce International Micro-Cap Fund
- Royce Global Select Fund
In addition, he serves as Assistant Portfolio Manager for:
- Royce Micro-Cap Fund
- Royce Global Dividend Value Fund
- Royce Capital Fund–Micro-Cap Portfolio
- Royce Value Trust
Read the full article at SmartMoney.comImportant Disclosure Information
Please read the prospectus carefully before investing or sending money. This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Investments in securities of micro-cap, small-cap and/or mid-cap companies may involve considerably more risk than investments in securities of larger-cap companies (see "Primary Risks for Fund Investors" in the respective prospectus).
The Fund may invest a significant portion of its assets in foreign companies which may be subject to different risks than investments in securities of U.S. companies, including adverse political, social, economic or other developments that are unique to a particular country or region. (Please see "Investing in Foreign Securities" in the prospectus) Therefore, the prices of the securities of foreign companies in particular countries or regions may, at times, move in a different direction than those of the securities of U.S. companies. (Please see "Primary Risks for Fund Investors" in the prospectus).
Distributor: Royce Fund Services, Inc.
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