MarketWatch: Charlie Dreifus On Red Flags In Proxies
article 07-03-2019

MarketWatch: Charlie Dreifus On Red Flags In Proxies

An opinion piece on red flags to watch for in proxies by Charlie Dreifus was recently published in MarketWatch.

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MarketWatch recently published an opinion piece by Charlie Dreifus titled “A Portfolio Manager Warns Of 4 Possible Red Flags In Company Proxy Statements.”

Read the piece here.

In the article, Charlie details four areas within proxy statements that may reveal actions by the board of directors or management that do not favor the shareholders.

“These red flags can be found in companies of all sizes, from small-caps up to the largest of the large-caps,” Charlie wrote.

Read the piece here.

Learn more about Charlie Dreifus here.

Important Disclosure Information

Average Annual Total Returns as of 6/30/19 (%) 

  2Q19 1YR 3YR 5YR 10YR 15YR 20YR SINCE INCEPT. DATE
Special Equity -2.88 -5.42 7.47 3.53 9.66 6.89 9.25 8.46 5/1/98
Russell 2000 2.10 -3.31 12.30 7.06 13.45 8.15 7.77 7.11 N/A
Russell 2000 Value 1.38 -6.24 9.81 5.39 12.40 7.28 8.64 7.60 N/A

Annual Operating Expenses: 1.18% 

1 Not 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 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 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.

Mr. Dreifus’ thoughts and opinions concerning recent market movements and future prospects for small-company stocks are solely those of Royce & Associates, LP, and, of course, there can be no assurances with respect to future small-cap market performance.

Percentage of Fund Holdings As of 3/31/2019 (%)

  Royce Special Equity Fund

Lincoln Electric Holdings Inc.

0

Mercer International Inc.

0

Standard Motor Products Inc.

5.3

Company examples are for illustrative purposes only. This does not constitute a recommendation to buy or sell any stock. There can be no assurance that the securities mentioned in this piece will be included in any Fund’s portfolio in the future.

Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and / or Russell ratings or underlying data and no party may rely on any Russell Indexes and / or Russell ratings and / or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication. The Russell 2000 Index is an unmanaged, capitalization-weighted index of domestic small-cap stocks. It measures the performance of the 2,000 smallest publicly traded U.S. companies in the Russell 3000 Index. The Russell 2000 Value and Growth indexes consist of the respective value and growth stocks within the Russell 2000 as determined by Russell Investments. The performance of an index does not represent exactly any particular investment, as you cannot invest directly in an index.

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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