article 01-07-2015

Royce Opportunity Fund in "Money 50" List

For the second year in a row Royce Opportunity Fund made the "Money 50" list.


In early January Money published its "Money 50" list, an inventory of its recommended mutual funds and ETFs.

Authored by Taylor Tepper, the "Money 50" list included for the second year in a row Royce Opportunity Fund, managed by Buzz Zaino and Bill Hench, under the "Custom Funds" (27 funds intended to give portfolios "a tilt toward certain kinds of stocks and bonds") section of the list.

Royce Opportunity Fund uses a broadly diversified, theme-based, opportunistic value portfolio approach to select small-cap stocks with market capitalizations up to $2.5 billion. The Fund’s investment objective is long-term growth of capital.

Buzz Zaino has managed Royce Opportunity Fund since 1998, becoming lead portfolio manager in October 2013 after Bill Hench, who was named assistant portfolio manager to the Fund in 2004, became a portfolio manager in the same year.

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Important Disclosure Information

Money magazine selected mutual funds for the "Money 50" list based on these criteria: below average net prospectus expense ratios for each category, managers with a long tenure, and Stewardship Grades of an A or B from Morningstar. (Funds are evaluated based on five components: Corporate Culture, Board Quality, Manager Incentives, Fees, and Regulatory History. To arrive at a fund’s Stewardship Grade, points are tallied across all five components. The maximum score is 10 points. The Corporate Culture component’s maximum score is 4 points, and points are awarded in increments as small as 1 point. For the Board Quality, Manager Incentives, and Fees components, the maximum score is 2 points, and points are awarded in increments as small as 0.5 points. For the Regulatory History component, the maximum score is 0 points, and the lowest possible score is -2 points. Regulatory History scores may be reduced in increments as small as 0.5 points.) To initially qualify for consideration, a fund must generally be widely available, have track records of five years or longer that rank in the top half of their peer groups defined by Morningstar style categories, assets of roughly $150 million or more to avoid risk of closure, and below-average fees.

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. Royce Opportunity Fund invests primarily in small-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.



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