Our Flagship Is Getting a New Name —Royce
article 02-22-2024

Our Flagship Is Getting a New Name

After more than 50 years, it’s time for a name change.


The Board of Trustees of The Royce Fund has approved changes to the name and nonfundamental investment policies for the Royce Pennsylvania Mutual Fund, that will become effective as of May 1, 2024.

The Fund’s name will change from “Royce Pennsylvania Mutual Fund” to “Royce Small-Cap Fund”—which better aligns it with its primary investment focus (in place for more than 50 years). In addition, the Fund’s new non-fundamental investment policy requires it to invest, under normal circumstances, at least 80% of the value of its net assets in small-cap companies. The Fund’s investment objective and strategy are not changing.

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. The Fund invests primarily in small 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. The Fund may invest up to 25% of its net assets in foreign securities that may involve political, economic, currency, and other risks not encountered in U.S. investments. (Please see "Investing in Foreign Securities" in the prospectus.)



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