On May 1, Royce Investment Partners said the name of Royce Opportunity will change to Royce Small-Cap Opportunity on July 1. The change simply emphasizes the strategy's long-standing small-cap focus. The filing also clarifies that the fund typically invests at least 80% of net assets in small-cap securities; former filings said the fund invested at least 65% of net assets in equities (a threshold it always easily met, though it may carry 10% or more in cash). The new name and adjusted prospectus language result in no change to the management team or process, so the strategy's current pillar ratings and Morningstar Analyst Ratings of Neutral or Negative (depending on share class) are not affected.
Royce Opportunity Invmt RYPNX
NAV / 1-Day Return
14.66
/
3.82
%
Total Assets
1.5 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.210%
Expense Ratio
1.210%
Fee Level
Above Average
Longest Manager Tenure
1.07
years
Category
Small Value
Investment Style
Small ValueMin. Initial Investment
2,000
Status
Open
TTM Yield
0.00%
Turnover
69%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will RYPNX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RYPNX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the RYPNX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of RYPNX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Royce Opportunity Getting a New Name; Ratings Unchanged
