Royce Value Trust Provides Information to Shareholders
July 30, 2020 at 01:46 pm
Share
On July 29, 2020, Royce Value Trust, Inc. announced that the Company’s stockholders voted to approve a new investment advisory agreement with the Company’s investment manager, Royce Investment Partners at the special meeting of stockholders of the Company. The Company stated that the new agreement will become effective upon completion of Franklin Resources, Inc.’s acquisition of Legg Mason Inc., Royce’s indirect parent company. The Company added that there will be no increase in the contractual investment advisory fee rate for the Company as a result of the implementation of the new agreement.
Royce Small-Cap Trust, Inc. (the Fund), formerly Royce Value Trust, Inc., is a diversified, closed-end investment company. The investment objective of the Fund is long-term growth of capital. The Fund primarily invests in small-cap securities. Under normally circumstances, the Fund invests approximately 80% of its assets in the equity securities of small-cap companies. The Fund may also invest up to 25% of its assets in securities of issuers headquartered outside the United States. The Fund invests in various sectors, which include industrials, financials, information technology, health care, consumer discretionary, materials, real estate, communication services, energy, consumer staples and utilities. The Fundâs investment advisor is Royce & Associates, LP. Royce & Associates, LP primarily conducts business using the name Royce Investment Partners.