553

At a Glance

Why invest in Opportunity?

  • Small-cap value fund (generally market caps up to $3 billion) that uses an opportunistic approach to invest in companies with low P/B and P/S ratios; companies are categorized into one of four themes: Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings
  • Identifies a catalyst for future earnings growth in the form of new management, more favorable business cycle, product innovation, and/or margin improvement
  • Has historically produced strong results, particularly during up market periods, outperforming its benchmark, the Russell 2000 Index, during all four trough-to-peak periods since inception (11/19/96)

As of 12/31/16

  • Small-Cap
    Value Approach
    $770.2M
    Avg. Market Cap
  • High
    Volatility
    91%
    Active Share
  • Lead Manager
    Tenure
    18+
    Years on Fund

Portfolio Management

"We typically expect our investments to pay off 18 to 24 months after we begin to purchase shares. We move in and out of positions slowly. There are always cheap stocks in the market, even during bullish times. But for a stock to get into the Fund it has to be cheap for what we think will be a temporary reason and be statistically valid for a value portfolio."
Buzz Zaino

Performance

Average Annual Total Returns (%)

Outperformed Russell 2000 for the Quarter, Year To Date, 1-Year, 15-Year, 20-Year and since inception (11/19/96) periods as of 12/31/16.
QTR YTD 1YR 3YR 5YR 10YR 15YR 20YR SINCE INCEPT. DATE
Opportunity 11.21 29.2429.243.2513.986.659.6711.8712.08 11/19/96
Russell 2000 8.83 21.3121.316.7414.467.078.498.258.45 N/A

Annual Operating Expenses: 1.62

DEC YTD 1YR 3YR 5YR 10YR 15YR 20YR SINCE INCEPT. DATE
Opportunity 2.47 29.2429.243.2513.986.659.6711.8712.08 11/19/96
Russell 2000 2.80 21.3121.316.7414.467.078.498.258.45 N/A

Annual Operating Expenses: 1.62

JAN YTD 1YR 3YR 5YR 10YR 15YR 20YR SINCE INCEPT. DATE
Opportunity -0.28 -0.2847.292.9511.936.589.6811.8812.03 11/19/96
Russell 2000 -0.35 -0.3537.346.4613.077.068.678.128.40 N/A

Annual Operating Expenses: 1.62

Important Performance and Expense Information

All performance information reflects past performance, is presented on a total return basis, reflects the reinvestment of distributions, and does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. 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. Current month-end performance may be higher or lower than performance quoted and may be obtained at www.roycefunds.com. Operating expenses reflect the Fund's total annual operating expenses for the K Class as of the Fund's most current prospectus and include management fees, 12b-1 distribution and service fees, other expenses, and acquired fund fees and expenses. Acquired fund fees and expenses reflect the estimated amount of the fees and expenses incurred indirectly by the Fund through its investments in mutual funds, hedge funds, private equity funds, and other investment companies.

All performance and risk information presented in this material prior to the commencement date of K Class shares on 5/15/08 reflects Investment Class results. K Class shares bear annual expenses that are higher than those borne by Investment Class shares. If K Class's annual expenses had been reflected, total returns prior to 5/15/08 would have been lower.

Rolling Returns

On a monthly basis, the Fund outperformed the Russell 2000 in 81% of all 10-Year periods; 71% of all 5-Year periods; and 66% of all 1-Year periods.

For 97% of the periods, 10-year average annual total returns were greater than 5%.

Relative Returns: Monthly Rolling Average Annual Return Periods 20 Years Through 12/31/16

periods beating
the index(%)
fund
avg(%)
index
avg(%)
10-year
98/121
81 10.0 6.9
5-year
129/181
71 11.4 7.6
1-year
151/229
66 14.2 9.2

Absolute Returns: 10-Year Monthly Rolling Return PeriodsNumber of 10-Year Average Annual Return Periods Since the Fund’s Inception

Return Range Periods % in Range
> 10% 48 39
> 5% and ≤ 10% 70 57
> 0% and ≤ 5% 4 3
≤ 0% 0 0

The Fund averaged a 10.0% return over all 122 10-year monthly rolling return periods.

Market Cycle Performance

Peak-Peak - 07/13/07 - 04/29/11
Opportunity5.6%
Russell 20006.6%

Peak-Peak - 04/29/11 - 06/23/15
Opportunity45.4%
Russell 200058.5%

Peak-Current - 06/23/15 - 12/31/16
Opportunity6.6%
Russell 20007.2%

Royce defines market cycles as those that have retreated at least 15% from a previous market peak and have rebounded to establish a new peak above the previous one. 

Royce defines market cycles as those that have retreated at least 15% from a previous market peak and have rebounded to establish a new peak above the previous one. 

Calendar Year Total Returns (%)

 

Growth of Investment

Value of $10,000 invested between 11/19/96 and 12/31/16

Opportunity$99,117.47
Russell 2000$51,098.90

Portfolio Impactas of 12/31/16

SECTOR NAMEAVERAGE WEIGHT (%)TOTAL RETURN (%)CONTRIBUTION TO RETURN (%)
Industrials
24.55
15.29
3.93
Information Technology
28.91
14.04
3.78
Financials
6.53
28.74
1.79
Materials
8.74
14.39
1.42
Consumer Discretionary
15.07
4.91
0.71
Energy
3.09
9.72
0.25
Telecommunication Services
0.60
18.59
0.12
Consumer Staples
1.47
4.16
0.06
Real Estate
0.51
4.35
0.02
Utilities
0.19
-4.18
-0.02
Health Care
4.59
-5.78
-0.36
Cash
5.75
0.11
0.01

Top Contributors

INDUSTRYSECTORGAIN (%)
Semiconductors & Semiconductor EquipmentInformation Technology1.49
Electronic Equipment, Instruments & ComponentsInformation Technology1.44
Metals & MiningMaterials1.10
Construction & EngineeringIndustrials0.84
BanksFinancials0.81

Top Detractors

INDUSTRYSECTORGAIN (%)
Health Care Providers & ServicesHealth Care-0.24
Health Care TechnologyHealth Care-0.23
Road & RailIndustrials-0.20
MediaConsumer Discretionary-0.06
Multiline RetailConsumer Discretionary-0.05

Top Contributors

COMPANYINDUSTRYSECTORGAIN (%)
Unisys CorporationIT ServicesInformation Technology0.53
KEMET CorporationElectronic Equipment, Instruments & ComponentsInformation Technology0.46
Commercial MetalsMetals & MiningMaterials0.40
AK Steel Holding CorporationMetals & MiningMaterials0.39
General CableElectrical EquipmentIndustrials0.31

Top Detractors

COMPANYINDUSTRYSECTORGAIN (%)
Allscripts Healthcare SolutionsHealth Care TechnologyHealth Care-0.23
Hertz Global HoldingsRoad & RailIndustrials-0.20
NeoPhotonics CorporationSemiconductors & Semiconductor EquipmentInformation Technology-0.18
Brookdale Senior LivingHealth Care Providers & ServicesHealth Care-0.14
Kraton CorporationChemicalsMaterials-0.14
SECTOR NAMEAVERAGE WEIGHT (%)TOTAL RETURN (%)CONTRIBUTION TO RETURN (%)
Information Technology
29.87
41.00
11.51
Industrials
24.18
34.93
8.76
Materials
9.54
61.14
6.28
Financials
5.73
51.85
2.56
Consumer Discretionary
15.06
10.64
1.65
Consumer Staples
1.82
44.97
0.79
Real Estate
0.91
28.58
0.49
Telecommunication Services
0.68
25.19
0.15
Utilities
0.18
14.58
0.02
Energy
2.50
3.03
-0.03
Health Care
4.27
-3.42
-0.41
Cash
5.28
0.31
0.02

Top Contributors

INDUSTRYSECTORGAIN (%)
Semiconductors & Semiconductor EquipmentInformation Technology5.85
Electronic Equipment, Instruments & ComponentsInformation Technology4.98
Metals & MiningMaterials3.68
MachineryIndustrials2.67
ChemicalsMaterials2.34

Top Detractors

INDUSTRYSECTORGAIN (%)
Specialty RetailConsumer Discretionary-0.64
Internet Software & ServicesInformation Technology-0.63
Health Care TechnologyHealth Care-0.43
Oil, Gas & Consumable FuelsEnergy-0.36
Health Care Equipment & SuppliesHealth Care-0.26

Top Contributors

COMPANYINDUSTRYSECTORGAIN (%)
Kraton CorporationChemicalsMaterials0.88
Advanced Energy IndustriesSemiconductors & Semiconductor EquipmentInformation Technology0.77
MasTecConstruction & EngineeringIndustrials0.77
Commercial MetalsMetals & MiningMaterials0.73
AK Steel Holding CorporationMetals & MiningMaterials0.71

Top Detractors

COMPANYINDUSTRYSECTORGAIN (%)
CIBERIT ServicesInformation Technology-0.51
Monster Worldwide, Inc.Internet Software & ServicesInformation Technology-0.49
Allscripts Healthcare SolutionsHealth Care TechnologyHealth Care-0.43
BankrateInternet Software & ServicesInformation Technology-0.35
Ascena Retail GroupSpecialty RetailConsumer Discretionary-0.34
SECTOR NAMEAVERAGE WEIGHT (%)TOTAL RETURN (%)CONTRIBUTION TO RETURN (%)
Information Technology
29.87
41.00
11.51
Industrials
24.18
34.93
8.76
Materials
9.54
61.14
6.28
Financials
5.73
51.85
2.56
Consumer Discretionary
15.06
10.64
1.65
Consumer Staples
1.82
44.97
0.79
Real Estate
0.91
28.58
0.49
Telecommunication Services
0.68
25.19
0.15
Utilities
0.18
14.58
0.02
Energy
2.50
3.03
-0.03
Health Care
4.27
-3.42
-0.41
Cash
5.28
0.31
0.02

Top Contributors

INDUSTRYSECTORGAIN (%)
Semiconductors & Semiconductor EquipmentInformation Technology5.85
Electronic Equipment, Instruments & ComponentsInformation Technology4.98
Metals & MiningMaterials3.68
MachineryIndustrials2.67
ChemicalsMaterials2.34

Top Detractors

INDUSTRYSECTORGAIN (%)
Specialty RetailConsumer Discretionary-0.64
Internet Software & ServicesInformation Technology-0.63
Health Care TechnologyHealth Care-0.43
Oil, Gas & Consumable FuelsEnergy-0.36
Health Care Equipment & SuppliesHealth Care-0.26

Top Contributors

COMPANYINDUSTRYSECTORGAIN (%)
Kraton CorporationChemicalsMaterials0.88
Advanced Energy IndustriesSemiconductors & Semiconductor EquipmentInformation Technology0.77
MasTecConstruction & EngineeringIndustrials0.77
Commercial MetalsMetals & MiningMaterials0.73
AK Steel Holding CorporationMetals & MiningMaterials0.71

Top Detractors

COMPANYINDUSTRYSECTORGAIN (%)
CIBERIT ServicesInformation Technology-0.51
Monster Worldwide, Inc.Internet Software & ServicesInformation Technology-0.49
Allscripts Healthcare SolutionsHealth Care TechnologyHealth Care-0.43
BankrateInternet Software & ServicesInformation Technology-0.35
Ascena Retail GroupSpecialty RetailConsumer Discretionary-0.34
SECTOR NAMEAVERAGE WEIGHT (%)TOTAL RETURN (%)CONTRIBUTION TO RETURN (%)
Information Technology
29.27
41.04
11.93
Industrials
22.30
22.48
5.86
Financials
7.93
49.53
2.80
Materials
8.78
0.95
1.34
Consumer Staples
1.57
37.23
0.65
Health Care
4.26
14.73
0.42
Real Estate
1.46
29.49
0.40
Telecommunication Services
0.61
58.69
0.33
Utilities
0.10
31.18
0.03
Energy
3.14
-63.76
-3.51
Consumer Discretionary
14.62
-17.11
-3.61
Cash
5.95
0.38
0.03
Unclassified
0.00
1.86
0.00

Top Contributors

INDUSTRYSECTORGAIN (%)
Semiconductors & Semiconductor EquipmentInformation Technology9.34
Electronic Equipment, Instruments & ComponentsInformation Technology3.97
Building ProductsIndustrials2.12
MachineryIndustrials1.89
BanksFinancials1.73

Top Detractors

INDUSTRYSECTORGAIN (%)
Specialty RetailConsumer Discretionary-2.96
Oil, Gas & Consumable FuelsEnergy-2.42
MarineIndustrials-1.66
Internet Software & ServicesInformation Technology-1.16
Energy Equipment & ServicesEnergy-1.08

Top Contributors

COMPANYINDUSTRYSECTORGAIN (%)
Advanced Energy IndustriesSemiconductors & Semiconductor EquipmentInformation Technology1.07
Mercury SystemsAerospace & DefenseIndustrials1.04
Central Garden & PetHousehold ProductsConsumer Staples0.97
Microsemi CorporationSemiconductors & Semiconductor EquipmentInformation Technology0.96
MaxLinear Cl. ASemiconductors & Semiconductor EquipmentInformation Technology0.88

Top Detractors

COMPANYINDUSTRYSECTORGAIN (%)
A. M. Castle & Co.Metals & MiningMaterials-0.82
Monster Worldwide, Inc.Internet Software & ServicesInformation Technology-0.68
QuiksilverTextiles, Apparel & Luxury GoodsConsumer Discretionary-0.64
Comtech TelecommunicationsCommunications EquipmentInformation Technology-0.58
Dixie GroupHousehold DurablesConsumer Discretionary-0.57
SECTOR NAMEAVERAGE WEIGHT (%)TOTAL RETURN (%)CONTRIBUTION TO RETURN (%)
Information Technology
26.94
124.21
29.09
Industrials
21.25
138.01
27.08
Consumer Discretionary
15.84
91.07
21.51
Financials
9.33
173.99
13.37
Materials
8.87
93.02
11.67
Health Care
4.13
144.18
5.38
Real Estate
1.57
78.50
1.62
Consumer Staples
1.28
35.21
0.39
Energy
3.91
-44.81
0.23
Telecommunication Services
0.54
26.60
0.21
Utilities
0.06
31.18
0.03
Cash
6.25
0.51
0.04
Unclassified
0.03
27.23
0.06

Top Contributors

INDUSTRYSECTORGAIN (%)
Semiconductors & Semiconductor EquipmentInformation Technology16.46
MachineryIndustrials9.18
Building ProductsIndustrials7.90
ChemicalsMaterials7.89
Electronic Equipment, Instruments & ComponentsInformation Technology6.78

Top Detractors

INDUSTRYSECTORGAIN (%)
MarineIndustrials-1.37
Electrical EquipmentIndustrials-0.55
Food & Staples RetailingConsumer Staples-0.55
Oil, Gas & Consumable FuelsEnergy-0.42
IT ServicesInformation Technology-0.29

Top Contributors

COMPANYINDUSTRYSECTORGAIN (%)
Advanced Energy IndustriesSemiconductors & Semiconductor EquipmentInformation Technology1.64
Mueller Water Products Cl. AMachineryIndustrials1.62
Sanmina CorporationElectronic Equipment, Instruments & ComponentsInformation Technology1.53
UnifiTextiles, Apparel & Luxury GoodsConsumer Discretionary1.49
Apogee EnterprisesBuilding ProductsIndustrials1.49

Top Detractors

COMPANYINDUSTRYSECTORGAIN (%)
A. M. Castle & Co.Metals & MiningMaterials-0.82
Swift EnergyOil, Gas & Consumable FuelsEnergy-0.80
Walter EnergyMetals & MiningMaterials-0.74
SUPERVALUFood & Staples RetailingConsumer Staples-0.73
Monster Worldwide, Inc.Internet Software & ServicesInformation Technology-0.73

Risk

High Volatility vs. Peer Group as of 12/31/16

The Fund has a high volatility within its peer group of 525 Small-Cap Funds based on 5-year rolling standard deviation.

Up Market Performance Comparisonas of 12/31/16

The Fund outperformed the Russell 2000 during all five trough-to-peak periods since the Fund’s inception (11/19/96).
UpMarketImg

Capture Ratios Fund's First Full Quarter (12/31/96) to 12/31/16

Upside Capture Ratio measures a manager's performance in up markets relative to the Fund's benchmark. It is calculated by measuring the Fund's performance in quarters when the benchmark goes up and dividing it by the benchmark's return in those quarters.

Downside Capture Ratio measures a manager's performance in down markets relative to the Fund's benchmark. It is calculated by measuring the Fund's performance in quarters when the benchmark goes down and dividing it by the benchmark's return in those quarters.

Long Term Risk Measurementas of 12/31/16

From the Fund's inception, the Fund outperformed the Russell 2000 Index.

Go to Relative Risk Spectrum Tool

Morningstar Statistical Measures as of 12/31/16

Sharpe RatioStandard Deviation
Opportunity0.3625.00
Russell 20000.4120.14
Category Median0.4119.83
Best Quartile Breakpoint0.4718.97

Category Median and Best Quartile Breakpoint based on 419 small-cap objective funds (oldest class only) with at least ten years of history.
Sharpe Ratio Standard Deviation
Opportunity
Russell 2000
Category Median
Best Quartile Breakpoint

Composition

Morningstar Style Map™as of 09/30/16

mstar-ROFKX

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.

Portfolio Diagnosticsas of 12/31/16

  ROFKX Russell 2000
Average Market Cap
770.2M
1.66B
91%
-
2016 Portfolio Turnover
26%
-
Weighted Average P/B
1.7x
2.2x
Weighted Average P/S
0.8x
1.6x
U.S. Investments (% of Net Assets)
89.5%
-
Non-U.S. Investments (% of Net Assets)
3.6%
-

Portfolio Allocation

  • Total
    Holdings
    249


SECTORS
ROFKX (%) RUSSELL
2000 (%)
Information Technology
28.6
17.0
Industrials
24.1
14.6
Consumer Discretionary
14.4
12.6
Materials
8.5
4.9
Financials
6.8
19.9
Health Care
4.7
12.1
Energy
3.6
3.8
Consumer Staples
1.4
3.0
Telecommunication Services
0.6
0.7
Utilities
0.2
3.5
Real Estate
0.2
7.9
Cash and Cash Equivalents
6.9
-
POSITIONS% OF NET ASSETS
(SUBJECT TO CHANGE)
Unisys Corporation
1.2
Brooks Automation
1.2
General Cable
1.2
Tower International
1.1
Commercial Metals
1.1
Kulicke & Soffa Industries
1.0
Dana
1.0
KEMET Corporation
0.9
TRC Companies
0.9
Mueller Industries
0.9
Albany Molecular Research
0.9
Mueller Water Products Cl. A
0.9
Sanmina Corporation
0.9
Microsemi Corporation
0.9
Interface
0.8
Kratos Defense & Security Solutions
0.8
Wesco Aircraft Holdings
0.8
Ferro Corporation
0.8
NCI Building Systems
0.8
MaxLinear Cl. A
0.8
Top 20 as % of Net Assets
18.9

SECTORS
ROFKX (%) RUSSELL
2000 (%)
Information Technology
28.6
17.0
Industrials
24.1
14.6
Consumer Discretionary
14.4
12.6
Materials
8.5
4.9
Financials
6.8
19.9
Health Care
4.7
12.1
Energy
3.6
3.8
Consumer Staples
1.4
3.0
Telecommunication Services
0.6
0.7
Utilities
0.2
3.5
Real Estate
0.2
7.9
Cash and Cash Equivalents
6.9
-
POSITIONS% OF NET ASSETS
(SUBJECT TO CHANGE)
Unisys Corporation
1.2
Brooks Automation
1.2
General Cable
1.2
Tower International
1.1
Commercial Metals
1.1
Kulicke & Soffa Industries
1.0
Dana
1.0
KEMET Corporation
0.9
TRC Companies
0.9
Mueller Industries
0.9
Albany Molecular Research
0.9
Mueller Water Products Cl. A
0.9
Sanmina Corporation
0.9
Microsemi Corporation
0.9
Interface
0.8
Kratos Defense & Security Solutions
0.8
Wesco Aircraft Holdings
0.8
Ferro Corporation
0.8
NCI Building Systems
0.8
MaxLinear Cl. A
0.8
Top 20 as % of Net Assets
18.9

Portfolio Holdings

View the complete list of holdings for this fund as of 12/31/16. Unaudited schedule of portfolio holdings is presented for informational purposes only.

Least Portfolio Overlap - U.S. Equity Funds

Greatest Portfolio Overlap - U.S. Equity Funds

Geographical Breakdown

Distributions

NAV & Distributions


Start DateEnd Date
to

Learn more about distributions

Distributions

RECORD
DATE
EX-DATE PAYABLE
DATE
INCOME ($) SHORT
TERM
GAINS ($)
LONG
TERM
GAINS ($)
RETURN OF
CAPITAL ($)
TOTAL ($) REINVEST
PRICE ($)
12/14/16 12/15/16 12/15/16 0.0000 - 0.8860 - 0.8860 10.71
12/16/15 12/17/15 12/17/15 0.0000 - 1.0617 - 1.0617 8.87
12/16/14 12/17/14 12/17/14 0.0000 0.1123 1.8262 - 1.9385 11.18
12/04/13 12/05/13 12/05/13 0.0000 0.0218 1.5136 - 1.5354 13.08
12/05/12 12/06/12 12/06/12 0.0000 0.1317 0.5382 - 0.6699 10.23
12/07/11 12/08/11 12/08/11 0.0000 - 0.1887 - 0.1887 9.01

NAV History for

Fees & Expenses

Shareholder Fees (%)

(fees paid directly from your investment)

Maximum sales charge (load) imposed on purchases 0.00
Maximum deferred sales charge 0.00
Maximum sales charge (load) imposed on reinvested dividends 0.00
Redemption fee (as a percentage of amount redeemed on shares held for less than 180 days) 0.00

Annual Fund Operating Expenses (%)

(expenses that you pay each year as a percentage of the value of your investment)

Management fees 1.00
Distribution (12b-1) fees 0.25
Other expenses 0.37
Acquired fund fees and expenses 0.00
Total annual Fund operating expenses 1.62
Total annual Fund operating expenses may differ from the expense ratio in the Fund's Financial Highlights because they include only the Fund's direct operating expenses and do not include acquired fund fees and expenses, which reflect the estimated amount of the fees and expenses incurred indirectly by the Fund through its investments in mutual funds, hedge funds, private equity funds, and other investment companies.

Important Disclosure Information

This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Please read the prospectus carefuly before investing or sending money. The Fund invests primarily in small-cap and micro-cap stocks, which may involve considerably more risk than investing in larger-cap stocks. (Please see "Primary Risks for Fund Investors" in the prospectus.) The Fund’s broadly diversified portfolio does not ensure a profit or guarantee against loss.

Sector weightings are determined using the Global Industry Classification Standard ("GICS"). GICS was developed by, and is the exclusive property of, Standard & Poor's Financial Services LLC ("S&P") and MSCI Inc. ("MSCI"). GICS is the trademark of S&P and MSCI. "Global Industry Classification Standard (GICS)" and "GICS Direct" are service marks of S&P and MSCI.

The Price-Earnings, or P/E, Ratio is calculated by dividing a company's share price by its trailing 12-month earnings-per-share (EPS). The Fund's P/E ratio calculation excludes companies with zero or negative earnings. The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share. Standard deviation is a statistical measure within which a fund's total returns have varied over time. The greater the standard deviation, the greater a fund's volatility. Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group. Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell© is a trademark of Russell Investment Group. 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. The performance of an index does not represent exactly any particular investment, as you cannot invest directly in an index. The performance of an index does not represent exactly any particular investment, as you cannot invest directly in an index.

Buzz Zaino lead manager since 2013 (manager 1998-2013), Bill Hench since 2013 (assistant portfolio manager 2004-2013)

5/15/2008 12:00:00 AM

Share:

Subscribe:

Sign Up

Follow: