NEW YORK, April 20, 2021 /PRNewswire/ -- Royce
Investment Partners ("Royce") announced today that Boniface "Buzz"
Zaino will lead the portfolio management team of Royce Opportunity
Fund, as well as the firm's other portfolios that are managed with
the unique opportunistic value strategy that he
developed. Although Mr. Zaino transitioned from Portfolio
Manager to Senior Advisor on the strategy in October 2018, he has remained actively
engaged in the Strategy's portfolios in the interim. Three
Portfolio Managers will join the new investment team being led
by Mr. Zaino: James P. Stoeffel and Brendan J. Hartman, who also manage Royce
Micro-Cap Fund, and James Harvey,
who spent a decade as an analyst with Mr. Zaino working directly on
the Opportunity strategy.
This change takes place as Portfolio Managers William Hench, Robert
Kosowsky, and Suzanne Franks,
as well as Analyst Adam Mielnik,
resigned from Royce on April 20.
That prior team had managed the strategy since
October 2018.
Royce's CEO Chris Clark said,
"Buzz created the opportunity strategy and very successfully
managed it for more than two decades at Royce. We are fortunate to
once again have his leadership guiding a team that includes three
additional portfolio managers with a combined 46 years of
investment experience managing small- and micro-cap
portfolios."
Mr. Zaino said, "I'm very excited to be working with such an
experienced team to manage this strategy which I founded several
decades ago. I believe the current market environment presents very
attractive opportunities for investing in small- and micro-cap
stocks, especially those that fall within the scope of our
value-oriented discipline."
The strategy will be managed as it has been since 1998, using
Royce's opportunistic approach to invest in small- and micro-cap
companies focused on four distinct themes: Turnarounds,
Unrecognized Asset Values, Undervalued Growth, and Interrupted
Earnings. The investment team will continue to identify catalysts
for future earnings growth in the form of new management, more
favorable business cycles, product innovation, and/or margin
improvement.
About Royce Investment Partners: Royce Investment Partners is
a small-cap equity specialist offering distinct investment
strategies with unique risk/return profiles designed to meet a
variety of investors' needs. For more than 45 years, our strategies
have focused on active, risk-conscious investing driven by deep,
fundamental company research. Chuck
Royce, the firm's founder and a pioneer of small-cap
investing, enjoys one of the longest tenures in the industry. Royce
& Associates, LP, primarily conducts its business under the
name Royce Investment Partners. Royce & Associates, LP is a
subsidiary of Franklin Resources. (NYSE: BEN). Royce Fund Services,
LLC, the Fund's distributor, is a member of FINRA and the
SIPC.
Please read the fund's prospectus carefully and consider a
fund's investment goals, risks, fees and expenses before investing
or sending money. The prospectus contains this and other
information. Distributor: Royce Fund Services, LLC
An investor in The Royce Funds should consider the Fund's
investment goal, risks, fees, charges, and expenses carefully
before investing. A prospectus containing this and other important
information may be obtained by calling Investor Services at
1-800-221-4268 or by visiting www.roycefunds.com. Please read the
prospectus carefully before investing or sending money.
View original
content:http://www.prnewswire.com/news-releases/portfolio-manager-boniface-zaino-to-lead-team-managing-royce-opportunity-fund-301273169.html
SOURCE Royce Investment Partners