Strategies and Vehicles | Royce

Strategies

"Our goal is to deliver a great small-cap investment experience to each of our clients across all of our vehicles and strategies." - Chuck Royce, Founder

  • Overview
  • Our Vehicles
  • Engage With Us

Overview

Our Vehicles

  • Separate Accounts

    • Global Small-Cap Premier Quality

      Global Small-Cap Premier Quality Composite

      Global small-cap core strategy that seeks to invest in "premier" small-cap companies, those Royce sees having discernible competitive advantages, high returns on capital, and a sustainable franchise.

      Management
      Steven McBoyleMark Rayner, CALauren Romeo, CFA®Mark Fischer
      Benchmark

      MSCI ACWI Small Cap Index

    • International Small-Cap Premier Quality

      International Small-Cap Premier Quality Composite

      The strategy invests in a limited number of "premier" non-U.S. small-cap companies (generally less than 80) with discernible competitive advantages, high and consistent returns on invested capital, and sustainable franchises

      Management
      Mark Rayner, CAMark Fischer
      Benchmark

      MSCI ACWI ex USA Small Cap Index

    • Small-Cap Opportunistic Value

      Small-Cap Opportunistic Value Composite

      An opportunistic strategy that invests in a highly diversified portfolio of small-cap companies with low P/B and P/S ratios that are categorized into one of four themes: Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings.

      Management
      Jim Harvey, CFA®Kavitha VenkatramanJim StoeffelBrendan Hartman
      Benchmark

      Russell 2000 Value Index

    • Small-Cap Premier Quality

      Small-Cap Premier Quality Composite

      A quality strategy that invests in a limited number (generally less than 80) of “premier” small-cap companies with discernible competitive advantages, high and consistent returns on invested capital, and sustainable franchises.

      Management
      Andrew PalenLauren Romeo, CFA®Chuck RoyceSteven McBoyle
      Benchmark

      Russell 2000 Index

    • Small-Cap Quality Value

      Small-Cap Quality Value Composite

      The Strategy seeks to invest in small-cap companies with an attractive combination of quality and value with the goal of delivering competitive upside performance and notable down market outperformance.

      Management
      Joseph Hintz, CFA®Chuck RoyceMiles Lewis, CFA®
      Benchmark

      Russell 2000 Value Index

    • Small-Cap Special Equity

      Small-Cap Special Equity Composite

      An absolute value strategy that invests primarily in a limited number (generally less than 80) of small-cap companies with an absolute value approach that attempts to combine classic value analysis, the identification of good businesses, and accounting cynicism, has its roots in the teachings of Benjamin Graham and Abraham Briloff.

      Management
      Charlie Dreifus, CFA®Steven McBoyle
      Benchmark

      Russell 2000 Value Index

  • Institutional Fund Share Classes

    • International Small-Cap Premier Quality

      International Premier

      Focuses on a limited number of "premier" non-U.S. small-cap companies (generally market caps up to $5 billion) with discernible competitive advantages, high returns on invested capital, and sustainable, moat-like franchises.

      Management
      Mark FischerMark Rayner, CA
      Benchmark

      MSCI ACWI ex USA Small Cap Index

      Factsheet
    • Small-Cap Premier Quality

      Premier

      Small-cap core fund that seeks to invest in "premier" small-cap companies, those Royce sees having discernible competitive advantages, high returns on capital, and a sustainable franchise. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.

      Management
      Andrew PalenLauren Romeo, CFA®Chuck RoyceSteven McBoyle
      Benchmark

      Russell 2000 Index

      Factsheet
    • Small-Cap Opportunistic Value

      Small-Cap Opportunity

      Small-cap value fund that uses an opportunistic approach to invest in companies are categorized into themes: Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.

      Management
      Jim Harvey, CFA®Kavitha VenkatramanJim StoeffelBrendan Hartman
      Benchmark

      Russell 2000 Value Index

      Factsheet
    • Small-Cap Special Equity

      Small-Cap Special Equity

      Small-cap value fund that looks for conservatively managed companies with transparent accounting that have a viable niche or franchise whose stock can be bought below its economic value. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.

      Management
      Charlie Dreifus, CFA®Steven McBoyle
      Benchmark

      Russell 2000 Value Index

      Factsheet
    • Small-Cap Quality Value

      Small-Cap Total Return

      Small-cap value fund that invests primarily in dividend-paying stocks with solid fundamentals. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.

      Management
      Joseph Hintz, CFA®Chuck RoyceMiles Lewis, CFA®
      Benchmark

      Russell 2000 Value Index

      Factsheet
  • Additional Vehicles

    Commingled LLC

    A small-cap opportunistic value strategy in a commingled fund for endowments, foundations, pension plans, and other institutional investors. Please contact our Institutional Client Service Team via email institutional@royceinvest.com or by phone at (800) 337-6923 for more information.

    UCITs

    Two sub-advised portfolios in small-cap opportunistic value and small-cap quality strategies available in UCITs structure through Franklin Templeton for non-US residents. For more information, please click here.

Engage With Us

Engage With Us

Discover why institutions choose to partner with us for their small-cap allocation needs. We offer several strategies in order to best fit your clients' needs. Each is available in vehicles suitable for Corporate and Public Pensions, Foundations, Endowments, and Family Offices.

When you partner with Royce, you can:
  • Schedule conference calls with our portfolio managers
  • Meet with portfolio specialists in our office or yours
  • Receive quarterly attribution and commentary online or via email
  • Subscribe to receive our latest small-cap insights
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