article 02-02-2015

Bill Hench: Three Stock Picks on The Street

A play on non-residential construction, the recent kale boom, and attractive valuations.

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On January 28, 2015, Royce Opportunity Fund Portfolio Manager Bill Hench was a guest on The Street. Hosted by Gregg Greenberg, Bill talked about three companies that he currently likes—Dixie Group, Landec, and Microsemi.

“Dixie is actually a great play on non-residential construction, which is having a really good rebirth in the U.S. not just on the private side but on the public municipal side as well,” said Bill. “They’ve gone through a bad time, as you said, because they’ve pretty much been investing. They’ve done the investing part of the work now, and now hopefully those investments will pay off as their market gets stronger and stronger.”

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 adviser to The Royce Funds. Bill serves as portfolio manager for Royce Opportunity Fund (ROF) and Royce Opportunity Select Fund (ROS). Bill also serves as assistant portfolio manager for Royce Low-Priced Stock Fund (RLP). The thoughts expressed in the video 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.

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.

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

  ROF ROS RLP
Dixie Group 0.33 1.23 0.00
Landec Corporation 0.21 1.30 0.56
Microsemi Corporation 0.88 0.00 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.

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