Royce Fund Managers David Nadel and Mark Rayner Make the Cut in Citywire
article 11-17-2017

Royce International Premier Fund Managers David Nadel and Mark Rayner Make the Cut in Citywire

Portfolio Managers David Nadel and Mark Rayner are included in Citywire's list of international small- and mid-cap fund managers.


David Nadel and Mark Rayner, Portfolio Managers of Royce International Premier Fund are included in Citywire's "Top 10 International Smid-Cap Growth managers" article, which highlights international small- and mid-cap funds based on risk-adjusted returns.

The list, based on Citywire's risk-adjusted ranking, highlights the 1-, 3-, and 5-year performance history of each international fund for the periods ended 8/31/17.

Portfolio Managers David Nadel and Mark Rayner, "have more than 50 years’ experience between them… over which time [they have] developed a high conviction approach, with around 50 holdings in the portfolio and a focus on companies with market caps of less than $3 billion."

The Fund's approach seeks to identify companies with notable strengths in industry structure, competitive positioning, operational efficiency, financial track record, and corporate governance.

The article also discusses the Fund's country allocations and portfolio positions.

Read Citywire's list of international fund managers here. 

Citywire's study included all funds in Lipper's International Small/Mid-Cap Growth Category. There were 55 Funds in the Lipper International Small/Mid-Cap Growth Category as of 8/31/17.

The Lipper International Small/Mid-Cap Growth Funds category is defined as Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) below Lipper’s international large-cap floor. International small/mid-cap growth funds typically have above-average characteristics compared to their small/mid-cap-specific subset of the MSCI EAFE Index.

Average Annual Total Returns as of 9/30/17 (%)

International Premier 7.70 31.89 23.31 12.98 12.04 8.24 12/31/10
Russell Glo x US SC 5.98 21.88 17.48 7.13 8.77 5.16 N/A
Annual Operating Expenses: Gross 1.59% Net 1.19

1Not annualized.

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 2% 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 Gross operating expenses reflect the Fund's total gross annual operating expenses for the Investment Class and include management fees and other expenses. Net operating expenses reflect contractual fee waivers and/or expense reimbursements. All expense information is reported as of the Fund's most current prospectus. Royce & Associates has contractually agreed, without right of termination, to waive fees and/or reimburse expenses to the extent necessary to maintain the Investment Class's net annual operating expenses (excluding brokerage commissions, taxes, interest, litigation expenses, acquired fund fees and expenses, and other expenses not borne in the ordinary course of business) at or below 1.19% through April 30, 2018.

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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