The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Royce Closes Micro-Cap Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 30, 2006

Royce Closes Micro-Cap Fund

by: Marie Glancy

The Royce Funds is once again closing its Royce Micro-Cap Fund to new investors. The closing takes effect with the market close tomorrow (March 31).

Officials for the New York-based company said the decision to close was based on "the diminishing supply of attractive purchase candidates in the micro-cap universe," which for Royce, means companies with market capitalizations under $500 million. After a previous period of closure, the fund re-opened in September 2004 "to take advantage of what the portfolio managers perceive as attractive current purchase opportunities in the micro-cap segment."

As of the end of 2005, the Royce Micro-Cap Fund -- managed by W. Whitney George, with the assistance of Jenifer Taylor -- held 200 positions and had total net assets of $674 million.

Among Royce funds, the Royce Low-Priced Stock Fund, Royce Special Equity Fund, and Royce Premier Fund are currently closed to new investors. Like these funds, the Micro-Cap will remain open to additional purchases from existing investors, financial advisors with existing clients in the Fund, certain pre-approved asset allocation based investment programs and, for a limited time, initial investments by certain institutional investors approved by the Fund's investment adviser.

Existing shareholders in other Royce Funds will not be permitted to open new accounts in the Royce Micro-Cap Fund, or to acquire shares through exchange, after the closure date. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use