Royce has expanded its fund lineup. The New York City-based Legg Mason subsidiary has rolled out its first mid-cap offering, Morningstar reports.

The expense ratio of the Royce Mid-Cap Fund will be capped at 149 basis points through April 30, 2012. The management team heading up the new fund includes Carl Brown, Brendan Hartman, James Stoeffel, and W. Whitney George.

Royce now has 26 open-end funds and six closed-end funds. 

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