Portfolio Managers’ Fund Commentaries—Royce
article 08-18-2020

Manager Commentaries

Twice a year, our portfolio managers deliver Manager Commentaries that provide insights into performance—including holdings, portfolio positioning, investment opportunities, and long-term prospects. You can find your Fund’s letter below.

The first half of 2020 was as turbulent a six-month period as we have seen in nearly 50 years of small-cap asset management. Though there is much uncertainty for what may be ahead in the coming months, we remain confident in an economic recovery and the likely rewards that would flow to small-cap cyclicals and select value stocks.



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