RYSEX Highlighted In Barron’s—Royce
article 04-09-2020

Barron’s Highlights Royce’s Special Equity Strategy

“The 5 Best Mutual Funds to Get Through the Coronavirus Crisis” on Barrons.com listed Royce’s Special Equity as one of five mutual funds focusing on strong balance sheets and losing less than its peers in these tumultuous times.


On April 3, 2020, Reshma Kapadia published a piece on Barrons.com, “The 5 Best Mutual Funds to Get Through the Coronavirus Crisis,” that included Royce Special Equity Fund. The article featured five mutual funds that heavily focus on strong balance sheets and have outpaced their peers during the recent market downturn.

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The article mentioned how Royce Special Equity outpaced 96% of its small-cap value peers for the year.* “These fund managers’ focus on companies with the financial wherewithal to survive and thrive postcrisis is likely to serve investors well both now and in the future,” the article said.

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Learn more about Charlie Dreifus here.

Important Disclosure Information

Average Annual Total Returns as of 3/31/20 (%) 

Special Equity -24.62 -21.16 -6.09 -1.35 4.85 5.26 8.48 7.13 05/01/98
Russell 2000 -30.61 -23.99 -4.64 -0.25 6.90 5.71 5.28 5.43 N/A
Russell 2000 Value -35.66 -29.64 -9.51 -2.42 4.79 4.11 6.83 5.56 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.

Percentage of Fund Holdings As of 3/31/2020 (%)

  Royce Special
Equity Fund

Ennis, Inc.


Gencor Industries, Inc.


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.

*The percentile ranking and number of funds in the Morningstar’s Small-Cap Value Category: for the 1-year 95th percentile out of 413 instruments; for the 5-year 61st percentile out of 341 instruments; for the 10-year 81st percentile out of 234 instruments as of 12/31/19. The universe consists of each fund's oldest share class only. ©2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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. The Fund invests primarily in small-cap stocks which may involve considerably more risk than investing in larger-cap stocks. (Please see "Primary Risks for Fund Investors" in the prospectus.) As of 3/31/20, the Fund invested a significant portion of its assets in a limited number of stocks, which may involve considerably more risk than more broadly diversified portfolio because a decline in the value of any one of these stocks would cause the Fund's overall value to decline to a greater degree. (Please see "Primary Risks for Fund Investors" in the prospectus.)



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