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. News

      Third Quarter Report for Royce Closed-End Funds is Now Available

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      The Quarterly Report for our closed-end funds, Royce Focus Trust, Royce Micro-Cap Trust and Royce Value Trust, contains performance and other portfolio information highlights for each fund, as well as our letter to stockholders.

      "Continuing a string of volatile periods during which macroeconomic issues weighed heavily on investor sentiment, the third quarter saw investors flee equities for the apparent safety of cash and short-term fixed income securities. The majority of the damage in the quarter occurred over a relatively short period of time—roughly ten trading sessions. It began near the end of July during the contentious U.S. debt ceiling debate and picked up speed in early August with the historic S&P downgrade of U.S. Treasury debt. What followed was a period of extraordinary market volatility eerily reminiscent of the fall of 2008 and winter of 2009. Investor exhaustion, by many measures, seems to once again be nearing a crescendo.

      No sector or industry has remained unscathed during this downturn, and individual stock correlation is rising once again. That said, one of the few bright spots from our perspective has been how well most companies have adapted to this ever-changing macroeconomic landscape. Earnings are holding up remarkably well, and balance sheets remain rock solid. Merger and acquisition activity also continues to ramp up, with large deal premiums indicative of attractive valuations for synergistic transactions."

      go pdf Download the current report to learn more about the funds

      Important Disclosure Information

      The thoughts concerning recent market movements and future prospects for small-company stocks are solely those of Royce & Associates and, of course, there can be no assurance with regard to future market movements. Small-cap and micro-cap stocks may involve considerably more risk than larger-cap stocks. Past performance is no guarantee of future results.

       

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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.