Fund Facts  

Inception Date: Jun 14, 2001
CUSIP: 780905741
Ticker Symbol: RYVPX
Morningstar Category:Small Growth
As of Sep 30, 2017
Fund Net Assets ($millions) $393

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks long-term growth of capital.

Principal Investment Strategies  

The fund's investment adviser invests the fund's assets primarily in equity securities of companies with stock market capitalizations up to $7.5 billion that Royce believes have above-average growth prospects. Normally, the fund invests at least 80% of its net assets in equity securities of companies with stock market capitalizations up to $7.5 billion. Although the fund normally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in securities of companies headquartered in foreign countries.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Royce Smaller-Companies Gr Srva4.33%16.08%24.62%10.00%11.60%5.18%11.52%
Russell 2000 Indexa,b5.67%10.94%20.74%12.18%13.79%7.85%N/A
Morningstar Small Growtha,c5.62%15.93%20.40%11.15%13.02%7.57%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund Expensesa,d
Gross Expenses1.51%
Net Expenses1.49%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (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 and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000® Index is a subset of the Russell 3000® Index, and includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

d. Differences between the net expense ratio and gross expense ratio of a fund are typically due to fee waivers, expense reimbursements, expense limits, and/or the reimbursement of fees to the fund.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 15, 2016Dec 15, 2016$1.255200000
Dec 17, 2015Dec 17, 2015$2.751500000
Dec 17, 2014Dec 17, 2014$3.281100000
Dec 5, 2013Dec 5, 2013$1.345000000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 2 Stars597
3-Year 2 Stars597
5-Year 2 Stars532
10-Year 1 Stars399

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Equity Stylebox
Small Growth
Allocation of Assets As of Jun 30, 2017
Type of Asset Percent
Equity89%
Fixed Income0%
Cash/Other11%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Jun 30, 2017
Asset ClassPercent
Domestic Stock80.3%
Foreign Stock8.6%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash6.9%
Other4.3%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Jun 30, 2017
SectorPercent
Technology33.7%
Healthcare14.7%
Financial Services11.4%
Industrials11.2%
Basic Materials5.9%
Consumer Cyclical5.5%
Real Estate1.9%
Energy1.7%
Communication Services1.6%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Holdings As of Jun 30, 2017
Holding NamePercent
Unisys Corp2.0%
TriState Capital Holdings Inc1.8%
Supernus Pharmaceuticals Inc1.7%
QAD Inc1.7%
Zealand Pharma A/S1.7%
comScore Inc1.7%
Dirtt Environmental Solutions Ltd1.6%
Clovis Oncology Inc1.6%
IPG Photonics Corp1.5%
ePlus Inc1.5%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta0.950.98
Alpha-1.28-1.54
Standard Deviation14.8214.51
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 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. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.