Royce Premier Fund Institutional Share Class Upgraded to Silver in Morningstar’s Analyst Ratings
article 09-06-2022

Royce Premier Fund Institutional Share Class Upgraded to Silver in Morningstar’s Analyst Ratings

Morningstar upgraded the Institutional Class shares of Royce Premier Fund from Bronze to Silver, with the other four classes rising to Bronze.

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On 8/16/22, Morningstar upgraded the Institutional Class shares of Royce Premier Fund from Bronze to Silver, with the other four classes rising to Bronze. Dan Culloton, the director of equity strategies for Morningstar, wrote that the Fund’s “high-conviction approach and a solid portfolio warrant an Above Average Process Pillar.” He went on to describe the approach used by Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle as “more of a blend portfolio that has tended to avoid healthcare stocks, which has hindered it versus the small-growth Morningstar Category and the Russell 2000 and Russell 2500 indexes in the past. That said, the team has had some successes among the healthcare picks it has made in recent years, despite the firm’s lack of specific expertise in the sector,” while noting that “the portfolio’s average profitability measures still top those of its average rival and relevant benchmarks.”

He also discussed the Fund’s portfolio management team, saying, “Like most Royce Investment Partners managers, Romeo and McBoyle do much of their own research. The firm, however, promoted analyst Andrew Palen to assistant [portfolio] manager, hired Zach Weiss in April 2022 as a senior analyst for this strategy, and bolstered the family’s central analyst pool.” Chuck Royce, who founded the Fund, remains as a portfolio manager on the Fund.

https://www.morningstar.com/funds/xnas/ryprx/quote

About Morningstar’s Analyst Ratings

Morningstar’s Analyst Rating for funds is a forward-looking, qualitative rating that is designed to help investors find funds most likely to outperform their peers over a full market cycle. A fund that is most likely to outperform its peers receives an Morningstar Analyst Rating of Gold, followed by Silver, Bronze, Neutral, and Negative. Morningstar fund analysts assign Neutral or Negative ratings if they have little conviction in the fund’s ability to outperform.

The Morningstar Analyst Rating is based on three pillars: Process, People, and Parent. Funds receive scores of High, Above Average, Average, Below Average, or Low depending on their performance for each pillar.

“Process” refers to how managers execute their investment strategy. It also examines their investment research, decision making, and loyalty to their strategy—especially when it’s out of favor. “People” refers to the individuals who manage the fund. Managers with long tenures, qualified analysts, relevant investment experience, and diligent succession planning receive a high rating. “Parent” refers to the asset manager that offers the fund. Asset managers with a winning investment culture, detailed preparation, and fundholder-friendly processes earn a high rating.

Important Disclosure Information

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.royceinvest.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. All performance and risk information presented in this material prior to the commencement date of Institutional Class shares on 9/17/02 reflects Investment Class results. Each class would have substantially similar returns because all classes invest in the same portfolio of securities, differing only to the extent that the classes have different expenses.

Average Annual Total Returns as of 6/30/22(%)

  QTD1 YTD1 1YR 3YR 5YR 10YR 15YR SINCE
INCEPT.
DATE
Premier -12.81 -19.20 -14.82 4.94 7.48 9.04 7.30 10.93 12/31/91
Russell 2000
-17.20 -23.43 -25.20 4.21 5.17 9.35 6.33 8.94 N/A

Annual Operating Expenses: 1.17 (RYPRX)


1 Not annualized.

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