article 01-28-2015

Royce Opportunity Fund's Bill Hench in Money's "Top Picks from Top Pros"

Portfolio Manager Bill Hench was one of six fund managers profiled in the article, which looked at each manager's fund strategy.


Portfolio Manager Bill Hench was one of six fund managers profiled in the January/February 2015 issue of Money. The article, written by Ryan Derousseau and titled "Top Picks from Top Pros," looked at each manager's fund strategy.

"Hench looks for companies that have had hits to earnings because of bad management decisions or poor luck, tending to focus on ultra-small companies," wrote Derousseau.

In addition to telling Money that he is still finding attractively valued small-cap stocks despite their recent run-up, Bill talked about three companies that he currently likes and why he thinks they can turnaround.

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.

Bill Hench joined the firm in 2002 and has 22 years of investment industry experience. In addition to managing Opportunity with lead portfolio manager Buzz Zaino, Bill manages Royce Opportunity Select Fund. He also serves as an assistant portfolio manager for Royce Low-Priced Stock Fund.

Important Disclosure Information

Bill Hench is a Portfolio Manager of Royce & Associates, LLC, investment advisor to The Royce Funds. He serves as portfolio manager for Royce Opportunity Fund (ROF) and Royce Opportunity Select Fund (ROS). He also serves as assistant portfolio manager for Royce Low-Priced Stock Fund (RLP). The thoughts expressed in this piece are solely those of the person speaking 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.

Percentage of Fund Holdings as of 12/31/14 (%)

West Marine 0.60 0.00 0.39
Identiv 0.31 0.00 0.00
RTI International Metals 0.14 1.99 0.00

There can be no assurance that any of the securities mentioned in this piece will be included in these portfolios in the future. References to specific securities in this piece are not intended as recommendations and should not be relied upon as the basis for anyone to buy, sell, or hold any security.

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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