Royce's President Chris Clark to Become CEO Effective July 1, 2016
article 05-12-2016

Royce's President Chris Clark to Become CEO Effective July 1, 2016

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We are excited to announce the next stage in our long-term succession planning at Royce & Associates, LP.

Our President and Co-CIO Chris Clark will become Chief Executive Officer of Royce & Associates, LP, effective July 1, 2016, marking an important step in the planned evolution of our firm's executive management.

Mr. Clark was named President on July 1, 2014 and has managed the firm alongside Charles M. Royce for the past two years. He remains the firm's President and, along with Francis D. Gannon, its Co-Chief Investment Officer.

"I have complete confidence in Chris’s ability to continue running our firm and leading our talented team while preserving our special culture."

Mr. Royce, who has served as President or CEO since founding the firm in 1972, will remain as Chairman and Portfolio Manager.

Mr. Royce commented, "Chris has exhibited excellent leadership qualities since joining Royce in 2007, and has been pivotal in helping us make this management transition over the past few years. I have complete confidence in his ability to continue running our firm and leading our talented team while preserving our special culture. I look forward to continuing to work with him on strategic issues while, perhaps most important, these moves allow me to focus my time on what I enjoy most, managing portfolios."

Messrs. Clark, Royce, and Gannon serve on the firm's Management Committee, along with General Counsel John E. Denneen, CFO Peter K. Hoglund, and Senior Advisor John D. Diederich.

Royce is also announcing the elevation of several portfolio managers on two of the firm's signature offerings—Royce Pennsylvania Mutual and Premier Funds—effective May 1, 2016. For Royce Pennsylvania Mutual Fund, Jay S. Kaplan and Lauren A. Romeo are now portfolio managers, after previously serving as assistant portfolio managers, while Mr. Royce is the lead portfolio manager. Similarly, Ms. Romeo and Steven G. McBoyle are now portfolio managers for Royce Premier Fund, where each was formerly an assistant portfolio manager, with Mr. Royce as lead portfolio manager.

Mr. Clark noted, "We are very fortunate to have such talented and experienced investment professionals working alongside Chuck on some of our firm's most important portfolios. Over time, Jay, Lauren, and Steve have each demonstrated great talent as portfolio managers. As they continue to work closely with Chuck on these funds, they'll provide our investors with experience and continuity for years to come."

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.)

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