David Nadel Talks to Reuters About the Opportunity International Small-Caps
article 01-12-2018

David Nadel Talks to Reuters About the Opportunity in International Small-Caps

Portfolio Manager David Nadel spoke with Aleksandra Michalska of Reuters to discuss the prospects for international small-caps and Royce International Premier Fund.


Portfolio Manager David Nadel sat down with Reuters producer Aleksandra Michalska to talk about the opportunity in international small-cap stocks. With earnings season coming up, Aleksandra asked David what’s been driving the markets so far in the opening weeks of 2018.

She also wanted to know about some of the companies David has been following most closely, and he responded with details about one name that’s a long-term holding in Royce International Premier Fund.

David then went on to detail why he believes the asset class presents a timely opportunity even after a strong 2017.

View the interview here 

Average Annual Total Returns as of 12/31/17 (%)

International Premier 6.21 40.08 40.08 17.39 12.02 8.86 12/31/10
Russell Glo x US SC 7.06 30.49 30.49 11.27 9.25 6.00 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 www.roycefunds.com. 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 and other expenses.

As of 12/31/17, OdontoPrev was 1.6% of the net assets of Royce International Premier Fund and 0.8% of the asset of Royce Global Value Trust.

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 International Premier Fund invests a significant portion of its assets in foreign companies, which may be subject to different risks than investments in securities of U.S. companies, including adverse political, social, economic, or other developments that are unique to a particular country or region. These risk factors may affect the prices of foreign securities issued by companies headquartered in developing countries more than those headquartered in developed countries. (Please see "Investing in Foreign Securities" in the prospectus.) Therefore, the prices of the securities of foreign companies in particular countries or regions may, at times, move in a different direction than those of the securities of U.S. companies. (Please see “Primary Risks for Fund Investors” in the prospectus.) The 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 a 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.) 



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