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Royce Small-Cap Special Equity Invmt RYSEX

Analyst rating as of
NAV / 1-Day Return
16.20  /  1.16 %
Total Assets
751.6 Mil
Adj. Expense Ratio
Expense Ratio
Fee Level
Above Average
Longest Manager Tenure
24.40 years
Small Value
Investment Style
Small Value
Min. Initial Investment
TTM Yield

Morningstar’s Fund Analysis RYSEX

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Royce Special Equity Getting a New Name; Ratings Unchanged

Analyst Note

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On May 1, Royce Investment Partners said the name of Royce Special Equity will change to Royce Small-Cap Special Equity 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 under normal conditions. That is usually true here anyway, though at times the portfolio has dropped below that level when lead manager Charlie Dreifus has built up a cash stake of more than 20%. 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 Bronze or Neutral (depending on share class) are not affected.

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