1. Making Headlines

      Fortune’s 2008 Retirement Guide Likes Chuck Royce and PENNX 

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      “Some times there is simply no substitute for wisdom and experience,” reads the ‘08 Retirement Guide in the July 2008 issue of Fortune.

      “For many investors today’s markets, with their combustible mix of buried sub-prime mortgage land mines, exploding commodity prices, and unpredictable inflation, are just the sort of environment that call for the seasoned and steady hand of a manager like Chuck Royce, the man behind The Royce Funds.”

      Fortune offers Chuck Royce the ultimate kudos with the caption, “Roll, Royce, The Dean of Small-Cap Investing Has Delivered for 45 Years.” Chuck is praised for the management of Royce Pennsylvania Mutual Fund (PENNX), which Fortune calls a “stellar choice…with a very experienced manager at the top who knows how to trade small-cap stocks in various cycles.”

      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. Distributor: Royce Fund Services, Inc.

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