Royce Investment Partners Firm Update Regarding The Coronavirus—Royce
article 03-18-2020

Royce Investment Partners Firm Update Regarding The Coronavirus

CEO and Co-CIO Chris Clark updates shareholders and clients on how Royce Investment Partners is operating amid coronavirus concerns.

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To our valued clients and partners,

As we continue to navigate the ongoing coronavirus pandemic, we want to update you on the actions we are taking at Royce Investment Partners to maintain business and investment operations as well as to continue serving our clients during this period of unprecedented social and market volatility. Royce has a robust and well-tested Business Continuity Plan (BCP), and we have implemented a number of measures to ensure the health and safety of our employees and business partners—as these remain our highest priority. Our Crisis Management Committee (CMC) has been meeting regularly to review established continuity and pandemic plans and is regularly receiving guidance from global health organizations as we strive to maintain a safe and functional work environment and help mitigate transmission risks to our community.

Effective Monday, March 16, all Royce employees began working remotely following two days of testing our BCP protocols and remote connectivity capabilities. In addition, we suspended all face-to-face client activity and are instead focusing on conducting all business via conference call or videoconference. All business-related travel has also been suspended. All employees have secure access to our network, which allows us to conduct business as usual. Our CMC is actively monitoring the ever-changing business and regulatory conditions, and we will adjust our approach as necessary. Additionally, no Royce employee has been diagnosed with the Coronavirus to date.

Our Management Committee, in conjunction with other senior business leaders, is meeting regularly via conference call and conducting periodic calls with Royce’s Investment and Sales & Client Service teams to ensure a high level of connectivity and communication.

Royce has close to a 50-year history of managing through highly volatile market environments, and we are approaching the current environment with a deeply experienced and seasoned investment team with a long-term perspective on the risks and opportunities currently being presented in the marketplace.

We greatly value our partnership with you, and we remain committed to the highest standards of communication and transparency during this extraordinary time.

If you have any questions or concerns please reach out to your appropriate contact and we will be happy to discuss with you.

Most important, we wish you and your families all the best in the days and weeks ahead.

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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