Royce Funds(3)

Overlooked Enterprise Value

Royce Special Equity Fund

US> Large-Cap > Growth

Jul 13, 2009

Royce Special Equity Fund uses a disciplined value approach that combines classic value analysis with accounting cynicism. The Fund focuses on companies with market capitalizations up to $2.5 billion, attempting to find inexpensive companies with high returns on invested capital and low leverage.

Anchored in Balance Sheet

Royce Value Fund

US> Large-Cap > Growth

Nov 21, 2006

Following a time-tested three-pronged investment philosophy Jay Kaplan, portfolio manager at The Royce Value Fund, seeks to generate higher returns by identifying companies with strong balance sheets, high return businesses and discount valuations. Using a contrarian approach, the manager believes that rock solid balance sheets offer brick wall protection against temporary operating problems at a company.

Three Core Tenets

Royce Total Return Fund

US> Mid-Cap > Value

Apr 27, 2017

While companies with a track record of dividend payment are known to be better allocators of capital, their stocks tend to be less susceptible to volatility too. However, the truth is that not all dividend payers are worth investing in. Jay Kaplan, portfolio manager of the Royce Total Return Fund, screens the small-cap universe for companies with solid balance sheets and attractive business models that are also trading at a discount due to temporary business or industry setbacks.