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Management Team
Portfolio Managers
- Charles M. Royce
- 46 Years of Experience;
- 36 Years at Royce
- Jay S. Kaplan
- 19 Years of Experience;
- 8 Years at Royce
Top 10 Positions As of Quarter-End 9/30/08 Share of Net Assets Kennedy-Wilson Conv. 2.9% Diebold 2.0% Tiffany & Co. 1.9% Peapack-Gladstone Financial 1.9% SEI Investments 1.8% U.S. Global Investors Cl. A 1.7% Apollo Investment 1.7% Lexington Realty Trust 1.7% Zenith National Insurance 1.6% Helmerich & Payne 1.6% Top 10 as % of Total 18.8% 
Objective and Strategy
Royce Dividend Value Fund seeks long-term growth of capital and current income by investing primarily in a diversified portfolio of dividend-paying securities issued by mid-, small- and/ or micro-cap companies. We believe investors in the Fund should have a long-term investment horizon of at least three years.
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Performance
Average Annual Total Returns As of Quarter-End 9/30/08 3Q* YTD* 1YR 3YR RYDVX -3.63% -8.03% -12.38% 4.80% Russell 2000 -1.11% -10.38% -14.48% 1.83% Since Incept RYDVX 6.80% Russell 2000 N/A Annual Operating Expenses Gross Net 2.19% 1.64% Inception Date: 5/3/2004 * Not Annualized. Important Performance and Expense Information
All performance information reflects past performance, is presented on a total return basis and reflects the reinvestment of distributions. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, so that shares may be worth more or less than their original cost when redeemed. Shares redeemed within 180 days of purchase may be subject to a 1% redemption fee payable to the Fund. Current performance may be higher or lower than performance quoted.
Gross operating expenses reflect the Fund's gross total annual operating expenses for the Service class including management fees, 12b-1 distribution and service fees. Net operating expenses reflect contractual fee waivers and/or reimbursements. All expense information as of the Fund's most current prospectus. Royce and Associates has contractually agreed to waive fees and reimburse expenses, other than Acquired Fund fees and expenses, to the extent necessary to maintain the net annual operating expense ratio at or below 1.64% through December 31, 2008 and at or below 1.99% through December 31, 2017.
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Fund Statistics
Ticker Symbol RYDVX Fund Net Assets (All Classes) $7 million Number of Holdings 99 Minimum Investment $2,000 Cusip Number 780905436 Fund Number 204 Inception Date 5/3/2004 Benchmark Index Russell 2000 Growth of Hypothetical $10,000 Invested 5/03/2004 As of Quarter-End 9/30/2008 
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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- and micro-cap stocks which may involve considerably more risk than investing in larger-cap stocks (see "Primary Risks for Fund Investors" in the prospectus). The Fund may invest up to 25% of its assets in foreign securities that may involve political, economic, currency and other risks not encountered in U.S. investments (see the prospectus supplement dated 9/7/07). 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. Distributor: Royce Fund Services, Inc.
Download literature for Royce Dividend Value Fund
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©
Royce & Associates, LLC, 1414 Avenue of the Americas, New York, NY 10019, (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. View our Policies & Procedures, including, among others, our Sarbanes-Oxley Code of Ethics, Privacy Policy and Proxy Voting Guidelines and Procedures.
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