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Monday, January 25, 2010|
Royce Prepares to Mostly Close Two Funds
On Friday, January 29, Royce Funds will close two mutual funds to new investors. The Legg Mason subsidiary will partially close the Royce Premier Fund and the Royce Micro-Cap Fund, according to a filing. Both funds originally launched in 1991.
The two funds will remain open only to existing investors (who may not open new accounts), existing RIA clients, and certain pre-approved retirement plans.
The Royce Premier fund had net assets of $5.2 billion, and the Micro-Cap Fund had total net assets of $1.1 billion as of December 31.
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