article , video 11-10-2014

Planning for a successful future at Royce...

Our President and Co-Chief Investment Officer Chris Clark appeared at a Legg Mason Town Hall event on October 31, 2014 to discuss how we've been planning for succession and solidifying our management structure here at Royce over the past several years. We're very excited about these changes and hope that you spend a couple of minutes watching the video.

One of the first important steps took place in 2013 when we separated the Chief Investment Officer role from the portfolio management function and elevated Chris and Francis Gannon to the position. We all thought that this would provide critical accountability and oversight over our entire investment practice.

Not long before, we established the firm's Management Committee, a more broadly based group charged with overseeing the firm's business while also planning strategy and examining current issues. More recently, we set up a more formalized risk management process, part of which involved creating a Risk Management Committee in response to the shifting landscape in asset management as a whole and to refine the risk management overlay in our own investment approaches.

Chris also addresses the emerging road map for executive transition within Royce. Our company continues to revolve around our disciplined investment philosophy, and our unique culture is shared among a group of trusted people, some of whom have taken on larger leadership roles.

At Royce, I believe we have some of the best investment minds in the business, as well as great talent and leadership in information technology, sales and client service, and marketing. We think this collective expertise across the firm can allow us to build a strong and sustainable foundation for continued excellence in smaller-company investing. Chris's words and insights in the video will show you why I am so confident about the future of Royce.

Important Disclosure Information

Chuck Royce is Chief Executive Officer and a Portfolio Manager of Royce & Associates, LLC, investment adviser to The Royce Funds. Mr. Royce's thoughts and opinions in this piece are solely his own and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.

The thoughts and opinions expressed in the video are solely those of the person speaking as of October 31, 2014 and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.

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. Investments in securities of small-cap companies may involve considerably more risk than investments in securities of larger-cap companies. (Please see "Primary Risks for Fund Investors" in the prospectus.)

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