Royce Investment Partners: Difference between revisions
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'''Royce Investment Partners''' is a family of mutual funds that focuses primarily on small-cap investing, and has been considered one of the industry's most experienced smaller-company stock pickers.<ref>{{Cite web |title=Can Legg Mason Bounce Back? |url=http://online.barrons.com/news/articles/SB50001424053111903715504577309682600448636 |website=Barron's}}</ref> Royce & Associates, LLC serves as investment adviser to all Royce portfolios, including open-end mutual funds and closed-end funds. |
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As of December 31, 2014, Royce had approximately $32 billion in total assets under management. |
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== History == |
== History == |
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Charles M. Royce assumed investment management of Pennsylvania Mutual Fund when he purchased Quest Advisory Corp. in 1972. (The firm's name was changed to Royce & Associates in 1997.) |
Charles M. Royce assumed investment management of Pennsylvania Mutual Fund when he purchased Quest Advisory Corp. in 1972. (The firm's name was changed to Royce & Associates in 1997.) Royce, who has been described as a "small-company stock pioneer" by American business journalist [[Consuelo Mack]],<ref>{{Cite web |title=Charles Royce |url=http://wealthtrack.com/season-09/charles-royce/ |website=Consuelo Mack WealthTrack}}</ref> enjoys one of the longest tenures of any active mutual fund manager. |
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After assuming management of Pennsylvania Mutual Fund, |
After assuming management of Pennsylvania Mutual Fund, Royce began to shift his focus toward small-cap stocks that he believed were able to generate free cash flow and better survive down-market periods. This emphasis on downside protection would become one of the hallmarks of the firm's investment approach.<ref>{{Cite web |title=Royce's Goal: Safety First |url=http://www.fa-mag.com/news/article-400.html |website=Financial Advisor}}</ref> |
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During the 1990s, Royce broadened its portfolio line-up and expanded its investment staff. On October 1, 2001, Royce became a wholly owned, independent subsidiary of [[Legg Mason, Inc.]]<ref>{{ |
During the 1990s, Royce broadened its portfolio line-up and expanded its investment staff. On October 1, 2001, Royce became a wholly owned, independent subsidiary of [[Legg Mason, Inc.]]<ref>{{Cite web |title=Legg Mason to Buy Royce & Associates |url=https://www.latimes.com/archives/la-xpm-2001-jul-19-fi-23947-story.html |website=Los Angeles Times|date=19 July 2001 }}</ref> In the 2000s, the company began to introduce global and international small-cap [[mutual fund]] portfolios. |
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Effective July 1, 2014, Co-Chief Investment Officer Christopher D. Clark assumed the role of President of Royce, a position held by Royce since he purchased the firm in 1972. |
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== Investment approach == |
== Investment approach == |
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Royce Investment Partners invest in primarily micro-cap and small-cap companies using disciplined, value-oriented approaches. Royce portfolio managers look primarily at balance sheet strength, cash flow characteristics, and returns on invested capital when choosing stocks for the funds they manage.<ref>{{Cite web |title=Willing to Wait |url=http://online.barrons.com/news/articles/SB50001424052748704253204578466712818447312 |website=Barron's}}</ref> Royce emphasizes long-term, absolute (as opposed to relative) performance. |
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== See also == |
== See also == |
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== External links == |
== External links == |
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*[http://www. |
*[http://www.royceinvest.com The Royce Investment Partners Official Website] |
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{{Franklin Templeton}} |
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{{DEFAULTSORT:Royce Funds, The}} |
{{DEFAULTSORT:Royce Funds, The}} |
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[[Category:Mutual funds of the United States]] |
[[Category:Mutual funds of the United States]] |
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Latest revision as of 06:13, 14 August 2024
Royce Investment Partners is a family of mutual funds that focuses primarily on small-cap investing, and has been considered one of the industry's most experienced smaller-company stock pickers.[1] Royce & Associates, LLC serves as investment adviser to all Royce portfolios, including open-end mutual funds and closed-end funds.
Royce uses a bottom-up approach to invest in small-cap and micro-cap stocks.
History
[edit]Charles M. Royce assumed investment management of Pennsylvania Mutual Fund when he purchased Quest Advisory Corp. in 1972. (The firm's name was changed to Royce & Associates in 1997.) Royce, who has been described as a "small-company stock pioneer" by American business journalist Consuelo Mack,[2] enjoys one of the longest tenures of any active mutual fund manager.
After assuming management of Pennsylvania Mutual Fund, Royce began to shift his focus toward small-cap stocks that he believed were able to generate free cash flow and better survive down-market periods. This emphasis on downside protection would become one of the hallmarks of the firm's investment approach.[3]
During the 1990s, Royce broadened its portfolio line-up and expanded its investment staff. On October 1, 2001, Royce became a wholly owned, independent subsidiary of Legg Mason, Inc.[4] In the 2000s, the company began to introduce global and international small-cap mutual fund portfolios.
Effective July 1, 2014, Co-Chief Investment Officer Christopher D. Clark assumed the role of President of Royce, a position held by Royce since he purchased the firm in 1972.
Investment approach
[edit]Royce Investment Partners invest in primarily micro-cap and small-cap companies using disciplined, value-oriented approaches. Royce portfolio managers look primarily at balance sheet strength, cash flow characteristics, and returns on invested capital when choosing stocks for the funds they manage.[5] Royce emphasizes long-term, absolute (as opposed to relative) performance.
See also
[edit]References
[edit]- ^ "Can Legg Mason Bounce Back?". Barron's.
- ^ "Charles Royce". Consuelo Mack WealthTrack.
- ^ "Royce's Goal: Safety First". Financial Advisor.
- ^ "Legg Mason to Buy Royce & Associates". Los Angeles Times. 19 July 2001.
- ^ "Willing to Wait". Barron's.