Effective Monday, January 14, 2008, Royce Micro-Cap, Royce Low-Priced Stock and Royce Opportunity Funds will re-open to new investors.
The Funds will re-open to all investors to enable the Funds’ adviser to take advantage of what it perceives to be potential opportunities in the small- and micro-cap universe, particularly in light of the recent correction in the market.
Royce Micro-Cap Fund (Investment Class, RYOTX; Consultant Class, RYMCX; Service Class, RMCFX), co-managed by Whitney George and Jenifer Taylor, invests primarily in companies with market capitalizations less than $500 million. Due to the sector’s size and limited research coverage, there is more opportunity to find pricing inefficiencies. Therefore, we believe that the potential for higher returns, commensurate with a higher level of risk, is greater than for any other capitalization sector of the domestic equity marketplace.
Royce Low-Priced Stock Fund (Services Class, RYLPX; Investment Class, RLPHX; Institutional Class, RLPIX; R Class, RLPRX), managed by Whitney George, invests primarily in small- and micro-cap companies whose average cost per share in the Fund’s portfolio is less than $25. Since institutional investors generally do not make lower priced stocks (especially those trading at $10 or less per share) an area of focus, we believe that they offer investment opportunities.
Royce Opportunity Fund (Investment Class, RYPNX; Service Class, RYOFX; Consultant Class, ROFCX; Institutional Class, ROFIX; R Class, ROFRX), managed by Boniface A. Zaino, invests in small- and micro-cap companies using an opportunistic value approach. This approach incorporates four investment themes, including turnarounds and special situations.
Any changes to each Fund’s status will be posted on www.roycefunds.com.
Please contact Joanne Newgard at (800) 562-0880 with any questions.
An investor should carefully consider each Fund’s investment objective, risks, charges and expenses before investing or sending money. This and other important information about The Royce Funds can be found in the Funds’ prospectus. To obtain a prospectus, please call (800) 221-4268 or visit www.roycefunds.com. Please read the prospectus carefully before investing. The Funds invest primarily in the securities of small- and micro-cap companies that may involve considerably more risk than investments in securities of larger-cap companies
(see “Primary Risks for Fund Investors” in the Prospectus).
Contacts:
Joanne J. Newgard, 800-562-0880
