NEW YORK, May 29, 2019 /PRNewswire/ -- Proposed
reorganizations for Royce Small-Cap Leaders and Small/Mid-Cap
Premier Funds to be merged into Royce Pennsylvania Mutual Fund, and
Royce Micro-Cap Opportunity Fund to be merged into Royce
Opportunity Fund, have received shareholder approval.
As part of the reorganizations, all of the assets and
liabilities of Royce Small-Cap Leaders and Small/Mid-Cap Premier
Funds will be exchanged for shares of Royce Pennsylvania Mutual
Fund, and all of the assets of Royce Micro-Cap Opportunity Fund
will be exchanged for shares of Royce Opportunity Fund, with all
values expected to be determined as of the closing of the NYSE
(generally 4:00pm) on Friday, June 14, 2019. Upon completion of the
reorganizations, Royce Small-Cap Leaders and Small/Mid-Cap Premier
Fund shareholders will become shareholders of Royce Pennsylvania
Mutual Fund, and Royce Micro-Cap Opportunity Fund shareholders will
become shareholders of Royce Opportunity Fund. No sales charges or
redemption fees will be imposed in connection with the
reorganizations.
As of the close of business on Thursday
May 30, 2019, Royce Small-Cap Leaders, Small/Mid-Cap
Premier, and Micro-Cap Opportunity Funds will be closed to new
purchases.
If you have any questions regarding this release, please call
Investor Services at 1-800-337-6923.
About Royce Pennsylvania Mutual Fund
Royce Pennsylvania Mutual Fund seeks long-term growth of capital.
Royce & Associates, LP ("Royce"), the Fund's investment
adviser, invests the Fund's assets primarily in equity securities
of small- and micro-cap companies with stock market capitalizations
up to $3 billion that it believes are
trading below its estimate of their current worth. The Fund uses
multiple investment disciplines in an effort to provide exposure to
approaches that have historically tended to perform well in
different market environments. These disciplines include investing
in a "High Quality" approach—companies that Royce believes have
competitive advantages and high returns on capital; a "Traditional
Value" approach—companies that are currently out of favor, selling
at what Royce deems to be low valuations; and a "Special
Situations" approach—companies with complex structures that do not
lend themselves to traditional valuation metrics, as well as other
Royce approaches such as "Growth at a Reasonable Price" and "Deep
Value." The Fund's portfolio managers generally focus on one or
more of these approaches in managing segments of the Fund's assets,
while the Lead Portfolio Manager oversees investments across all
segments. Charles M. Royce is
the Fund's Lead Portfolio Manager. Portfolio Managers Jay S. Kaplan, Lauren A.
Romeo, and Steven G. McBoyle
manage the Fund with him. They are assisted by Portfolio Managers
James P. Stoeffel, Chris E. Flynn, and Andrew S. Palen.
About Royce Opportunity Fund
Royce Opportunity Fund seeks long-term growth of capital.
Royce, the Fund's investment adviser, invests the Fund's assets
primarily in equity securities of small- and micro-cap companies
with stock market capitalizations up to $3
billion in an attempt to take advantage of what it believes
are opportunistic situations for undervalued securities. Such
opportunistic situations may include turnarounds, emerging growth
companies with interrupted earnings patterns, companies with
unrecognized asset values, or undervalued growth companies.
Although the Fund normally focuses on securities of companies with
stock market capitalizations up to $3
billion, it may, in certain market environments, invest an
equal or greater percentage of its assets in securities of
larger-cap companies and may invest up to 10% of its net assets
(measured at the time of investment) in securities of companies
headquartered in foreign countries. William A. Hench is the Fund's portfolio
manager, assisted by Portfolio Managers Robert Kosowsky and Suzanne Franks.
An investor should carefully consider the investment objective,
risks, fees, charges, and expenses of Royce Pennsylvania Mutual and
Opportunity Funds 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, and information about
The Royce Funds, please call (800) 221-4268 or visit
www.roycefunds.com. Please read the prospectus carefully before
investing. Distributor: Royce Fund Services, LLC.
Royce Small-Cap Leaders Fund
Investment Class: ROHHX, 780905196
Service Class: RYOHX, 780905519
Royce Small/Mid-Cap Premier
Fund
Investment Class: RHFHX, 780905238
Service Class: RGFAX, 780905857
Consultant Class: RYGCX, 780905618
Royce Pennsylvania Mutual Fund
Investment Class: PENNX, 780905840
Institutional Class: RPMIX, 78081A303
Service Class: RYPFX, 780905386
Consultant Class: RYPCX, 780905816
R Class: RPMRX, 780905295
Royce Micro-Cap Opportunity Fund
Investment Class: ROSFX, 780811832
Royce Opportunity Fund
Investment Class: RYPNX, 780905832
Institutional Class: ROFIX, 780905691
Service Class: RYOFX, 780905758
Consultant Class: ROFCX, 780905378
R Class: ROFRX, 780905253
About Royce & Associates, LP: Royce & Associates, LP,
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 40 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 is a subsidiary of Legg Mason Inc. (NYSE: LM).
Royce Fund Services, LLC, the Fund's distributor, is a member of
FINRA and the SIPC..
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SOURCE Royce & Associates