article 03-25-2015

The Street: Steven McBoyle Bullish on These Three Stocks

Portfolio Manager Steven McBoyle seeks to invest in unique business models that generate strong free cash flow.


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"In Royce Heritage Fund we invest in unique business models that generate strong free cash flow," said Portfolio Manager Steven McBoyle in his March 23, 2015 interview with Gregg Greenberg of The Street. His second guest appearance on the program, Steven talked about three stocks that he currently likes.

"We're long-term investors, and so we think we're serving favorable long-term trends," said Steven about irrigation business Valmont Industries. "We like the fact that management has been able to manage through past cycles before and have done well by holding prices."

Steven McBoyle has 24 years of investment experience, seven of which at Royce. In addition to serving as Lead Portfolio Manager for Royce Heritage Fund (with Portfolio Managers Chuck Royce and Jim Harvey), Steven manages Royce Global Value Fund with Jim Harvey, Dilip Badlani, and Lead Portfolio Manager David Nadel. He also assists on Royce Premier Fund, Royce Special Equity Fund, and Royce Special Equity Multi-Cap Fund.

Important Disclosure Information

Steven McBoyle is a Portfolio Manager of Royce & Associates, LLC, investment adviser to The Royce Funds. He serves as Portfolio Manager for Royce Heritage Fund (RHF) and Royce Global Value Fund (RGV) and serves as Assistant Portfolio Manager for Royce Premier Fund (RPR) and Royce Special Equity Fund (RSE). The thoughts and opinions 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.

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 Heritage Fund generally invests a significant portion of its assets in small-cap and mid-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. The Fund may invest up to 35% of its net assets in foreign securities (measured at the time of investment), which may involve political, economic, currency, and other risks not encountered in U.S. investments. (Please see "Investing in Foreign Securities" in the prospectus.)

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

Standard Motor Products 0.33 0.47 0.00 2.99
Reliance Steel & Aluminum 1.23 0.00 1.71 0.00
Valmont Industries 0.81 1.27 1.61 2.11

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. There can be no assurance with regard to future market movements. There can be no assurance that companies that currently pay a dividend will continue to do so in the future.



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