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Background
Royce & Associates is a registered investment adviser based in New York City with an investment history that dates back to 1972. The firm became an independent affiliate of Legg Mason, Inc. in 2001.
Assets Under Management
$28.9 billion (as of 6/30/08)
Philosophy
Small-Cap Value Focus
For more than 25 years, Royce & Associates has used a value approach to manage its small- and micro-cap portfolios and is committed to the same investment principles that have served it well throughout its corporate history. Chuck Royce, the firm's founder and Chief Investment Officer, enjoys one of the longest tenures of any active mutual fund manager. In addition to Mr. Royce, the firm has four senior staff members (three senior portfolio managers and a managing director), eight analysts and four traders.
Unlike many mutual fund groups with broad product offerings, Royce has chosen to concentrate on small-company value investing. Royce provides investors with a range of options that take full advantage of this large and diverse sector.
Royce pays close attention to risk and maintains the same discipline, regardless of market movements and trends. The price Royce pays for a security must be significantly below the firm's appraisal of its current worth. This requires a thorough analysis of the financial and operating dynamics of a business, as if Royce were purchasing the entire company.
www.roycefunds.com
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Royce & Associates
Royce Funds
Investment Managers:
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