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At a Glance
As of 12/31/16

Total ReturnRemove

Special Equity Multi-CapRemove

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Style

Value

Value

Market Cap

Small-Cap

Mid/Large-Cap

Volatility

Low

Above Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?

  • Small-cap value fund (generally market caps up to $3 billion) that invests primarily in dividend-paying companies with high returns on invested capital and strong fundamentals
  • Focuses on quality businesses with the ability to generate excess cash flow and attractive prospects that are selling at prices Royce believes do not fully reflect these attributes
  • Has a long-term history of low volatility and better risk-adjusted returns than its benchmark, the Russell 2000 Index
  • Employs a classic value approach with accounting skepticism to identify fundamentally strong, attractively undervalued mid- and large-cap companies (generally market caps of $5 billion or higher)
  • Seeks conservatively managed companies with long histories of stable earnings, cash flows, and raising dividends consecutively over time—aka “Dividend Aristocrats”
  • Looks for high-quality companies that have a viable niche or franchise that can be bought below their economic value

Inception Date

12/15/93
12/31/10

Portfolio Managers

Jay Kaplan, Chuck Royce

Steven McBoyle, Charlie Dreifus

Portfolio Diagnostics As of 12/31/16

 

Total Return

Special Equity Multi-Cap

Total Net Assets

2.84B

114.7M

Holdings

288

29

Average Market Cap

2.11B

26.61B

Active Share

90%

92%

2016
Portfolio Turnover

16%

50%

Weighted Average P/E,

20.0x

19.4x

Weighted Average P/B

2.2x

4.3x

Weighted Average P/S

-

-

Composition As of 12/31/16

 

Total Return

Special Equity Multi-Cap

Morningstar Style Map

The Morningstar Style Map is the Morningstar Style Box™ with the center 75% of fund holdings plotted as the Morningstar Ownership Zone™. The Morningstar Style Box is designed to reveal a fund's investment strategy. The Morningstar Ownership Zone provides detail about a portfolio's investment style by showing the range of stock sizes and styles. The Ownership Zone is derived by plotting each stock in the portfolio within the proprietary Morningstar Style Box. The shaded area represents the center 75% of the Fund's assets while the plot point in the middle represents the weighted average of its holdings. Over time, the shape and location of a fund's ownership zone may vary.

Geographic Breakdown

Sector Breakdowns

Total Return

Special Equity Multi-Cap

Financials

26.2

0.5

Industrials

25.3

48.4

Consumer Discretionary

13.0

22.0

Materials

12.5

1.7

Information Technology

6.6

12.3

Health Care

4.8

-

Consumer Staples

3.7

5.6

Energy

3.2

-

Utilities

2.0

-

Telecommunication Services

1.1

-

Real Estate

0.4

-

Bonds & Preferreds

0.1

-

Cash and Cash Equivalents

1.1

9.5

Portfolio Overlap

Total Return

Special Equity Multi-Cap

Total Return

-

4%

Special Equity Multi-Cap

4%

-

Greatest Portfolio Overlap - U.S. Equity Funds

Pennsylvania MutualDividend ValueCapital Small-Cap HeritageCapital Small-CapSpecial Equity

Least Portfolio Overlap - U.S. Equity Funds

Micro-Cap OpportunitySpecial Equity Multi-CapOpportunity Smaller-Companies GrowthPennsylvania MutualPremier

Risk As of 12/31/16

 

Total Return

Special Equity Multi-Cap

Five-Year Up/Down Capture Ratio

80   64

84   161

Beta

N/A

N/A

Standard Deviation

13.25

13.29

Sharpe Ratio

0.48

0.25

Volatility

Performance As of 12/31/16

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 12/31/16

Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER QTR YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.
DATE GROSS NET
Total Return RYTRX 9.45 25.86 25.86 5.78 12.45 6.86 10.93 12/15/93 1.22 1.22
Russell 2000 Index - 8.83 21.31 21.31 6.74 14.46 7.07 - - - -
Special Equity Multi-Cap RSMCX 5.54 13.92 13.92 2.62 10.52 N/A 9.96 12/31/10 1.01 1.01
Russell 1000 Index - 3.83 12.05 12.05 8.59 14.69 7.08 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JAN YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.
DATE GROSS NET
Total Return RYTRX 0.44 0.44 31.95 7.41 11.53 6.67 10.91 12/15/93 1.22 1.22
Russell 2000 Index - 0.39 0.39 33.53 7.89 13.00 6.93 - - - -
Special Equity Multi-Cap RSMCX 3.02 3.02 21.70 5.74 10.05 N/A 10.36 12/31/10 1.01 1.01
Russell 1000 Index - 2.01 2.01 20.81 10.50 14.06 7.09 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER FEB QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.
DATE GROSS NET
Total Return RYTRX 1.89 2.34 34.33 7.55 11.04 6.66 10.98 12/15/93 1.22 1.22
Russell 2000 Index - 2.86 3.27 40.52 8.31 12.62 6.99 - - - -
Special Equity Multi-Cap RSMCX 3.49 6.62 24.69 5.83 9.96 N/A 10.89 12/31/10 1.01 1.01
Russell 1000 Index - 3.34 5.42 25.63 10.51 13.90 7.28 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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