Royce Opportunity Fund Highlighted in Morningstar
article 10-04-2016

Royce Opportunity Fund Highlighted in Morningstar

Morningstar says Royce Opportunity Fund's big overweight in strong-performing technology stocks was a key driver of outperformance in the third quarter of 2016.  


Morningstar writer Andrew Daniels features Royce Opportunity Fund in a new article, Third-Quarter Winners and Losers Among U.S. Stock Funds. His market commentary for the third quarter mentions that domestic equity funds continued to reach new highs. The article also looks at the performance of funds tracked by Morningstar.

Regarding small-caps, Andrew wrote, "Small-cap funds outperformed their larger-cap counterparts in the third quarter, as they did in the second quarter."

Royce Opportunity Fund, managed by Buzz Zaino and Bill Hench, was highlighted: "Royce Opportunity (RYPNX)…gaining 12.6% [in the third quarter as of 9/22/16]. The fund's big overweighting to strong-performing technology stocks--particularly semiconductor and computer hardware stocks--was the main driver of outperformance. The fund was also helped by solid stock selection in the consumer cyclical sector."

Buzz Zaino has managed Royce Opportunity Fund since 1998, becoming lead portfolio manager in October 2013 when Bill Hench, who was named assistant portfolio manager in 2004, became portfolio manager.

You can read the entire article here.

Important Disclosure Information

Average Annual Total Returns as of 9/30/16 (%)

Opportunity 13.11 16.75 18.62 3.59 15.80 6.75 11.84 11/19/96
Russell 2000 9.05 11.46 15.47 6.71 15.82 7.07 8.10 N/A
Annual Operating Expenses: 1.17%

All performance information reflects past performance, is presented on a total return basis, reflects the reinvestment of distributions, and does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, so that shares may be worth more or less than their original cost when redeemed. Shares redeemed within 30 days of purchase may be subject to a 1% redemption fee, payable to the Fund which is not reflected in the performance shown above; if it were, performance would be lower. Current month-end performance may be higher or lower than performance quoted and may be obtained at Operating expenses reflect the Fund's total annual operating expenses for the Investment Class as of the Fund's most current prospectus and include management fees, other expenses, and acquired fund fees and expenses.

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 Opportunity Fund invests primarily in small-cap and micro-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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