"Lost in the noise [of recent fund openings] was the sound of many other smaller funds also throwing open their doors," reports Lewis Braham, in Business Week's recent article: "Funds, Grand Reopenings." Royce Special Equity Fund (RYSEX) was one of those smaller funds. Reopened to new investors in June 2006, Braham claims that Royce Special Equity Fund (RYSEX) is well suited to "tough economic times", given that its portfolio manager is a "stickler for strong balance sheets."
Please read the prospectus carefully and take into consideration the Fund's objective, risk profile, fund fees and other expenses, before investing or sending money. The Royce Funds invest primarily in securities of smaller companies, which may involve considerably more risk than investments in securities of larger-cap companies (see "Primary Risks for Fund Investors" in prospectus). Distributor: Royce Fund Services, Inc.