Morningstar Highlights Royce Premier and Special Equity Funds
article 03-10-2016

Morningstar Highlights Royce Premier and Special Equity Funds

Morningstar's Russ Kinnel and Christine Benz highlight Royce Premier and Special Equity Funds, "as funds that investors should consider if they are making some changes to their portfolios or just want to add some good actively managed funds."

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Morningstar highlights Royce Premier and Special Equity Funds in a video interview with Christine Benz and Russ Kinnel.

3 Newly Reopened Funds looks at recently reopened funds "that investors should consider if they are making some changes to their portfolios or just want to add some good actively managed funds."

The article focuses on Royce Premier Fund's performance and management, with Kinnel describing the Fund as, "a pretty appealing fund" which has "a good group of small cap names."

He also highlights Charlie Dreifus and his value investing strategy: "But I really like the fact that he is doing something different from what others are doing, and I think he's doing something better because of his accounting background."

Royce Premier Fund seeks long-term capital appreciation. One of Royce’s core funds, it invests primarily in what Royce believes are “premier” small-cap companies (generally those with market caps from $1 billion-$3 billion at the time of investment) with discernible competitive advantages, high returns on invested capital, and a sustainable, moat-like franchise. Chuck Royce manages the Fund, assisted by Lauren Romeo and Steven McBoyle.

Royce Special Equity Fund also seeks long-term capital appreciation. It is a small-cap value fund (generally those with market caps up to $3 billion) that looks for conservatively managed companies with transparent accounting that have a viable niche or franchise whose stock can be bought below its economic value. Charlie Dreifus manages the Fund, assisted by Steven McBoyle.

Read the full article at Morningstar.com

Important Disclosure Information

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. Smaller-cap stocks may involve considerably more risk than larger-cap stocks. (Please see "Primary Risks for Fund Investors" in the prospectus.)

Royce Premier Fund invests primarily in small-cap stocks, which may involve considerably more risk than investing in larger-cap stocks. The Fund also generally invests a significant portion of its assets in a limited number of stocks, which may involve considerably more risk than more broadly diversified portfolio because a decline in the value of any one of these stocks would cause the Fund's overall value to decline to a greater degree. (Please see "Primary Risks for Fund Investors" in the prospectus.) The Fund may invest up to 25% 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.)

Royce Special Equity 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.) As of 12/31/15, the Fund invested a significant portion of its assets in a limited number of stocks, which may involve considerably more risk than a more broadly diversified portfolio because a decline in the value of any of these stocks would cause the Fund’s overall value to decline to a greater degree.

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