Royce Small-Cap Special Equity Fund Mentioned by Russ Kinnel on Consuelo Mack Wealth Track.—Royce
article 10-06-2023

Royce Small-Cap Special Equity Fund Mentioned by Russ Kinnel on Consuelo Mack Wealth Track

Director of Manager Research at Morningstar Research Services, Russ Kinnel, was a guest on Consuelo Mack Wealth Track in August, where he touted Royce Small-Cap Special Equity Fund as “a wonderful diversifier.”


On 8/4/23, Consuelo Mack hosted Russ Kinnel, Director of Manager Research at Morningstar Research Services, who mentioned Royce Small-Cap Special Equity Fund, which is managed by Charlie Dreifus, CFA®, as a fund he owns and whose approach appeals to him.

Kinnel spoke about his “Thrilling 33,” a list he generates “with a few simple, strict screens to narrow a universe of 15,000 fund share classes down to a short list ranging between 25 and 50” and his own “Top 10” fund holdings. When discussing the latter list, he said that he owns Special Equity because not many funds do what Charlie and his team do, “which is look for clean accounting, clean balance sheets—reasonably priced companies with good cash flow.” He went on to say that he felt the Fund’s attention to accounting helped it to avoid “blow ups” and that this attention “really comes to the fore in recessions and bear markets… I think it’s a wonderful diversifier. If you’ve got a lot of aggressive growth funds, [or] large cap, this is a Fund that’s going to behave differently. There’s a real value there.”

You can watch the video here.

Important Disclosure Information

Average Annual Total Returns as of 9/30/2023 (%)

NET               GROSS
Small-Cap Special Equity -3.96 15.47 11.43 5.34 5.70 8.34 05/01/98  1.21  1.21
Russell 2000 Value
-2.96 7.84 13.32 2.59 6.19 7.17 N/A  N/A  N/A
Russell 2000
-5.13 8.93 7.16 2.40 6.65 6.67 N/A  N/A  N/A
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 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.

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