Royce Special Equity Fund Investment Class (RYSEX)

The fund's performance makes no sense as stated. Same for all Royce funds. NAV was $19 10 years ago and is $17.90 now. You lost money in principle!

Average distributions per year have been around $2 which is a 1.1% yield.

Is this for real? A fund that went down in price in 10 years? The S&P 500 is up 180% the last 10 years in price alone!

Not a bad performing fund given that small cap in general have under performed and value has under performed.

This is a strict value fund and the manager uses Graham Dodd analysis to find stocks cheap based on their intrinsic value. It is a fund that holds up better in down markets but rarely has that big banner year that drives long term performance.

If you are looking for a capital preservation fund in stormy markets seek out a muni fund or precious metals fund. Personally I would prefer Wasatch micro cap value in this space but I prefer closed end funds that pay high distributions that can be reinvested into more shares for better long term performance.

I prefer RVT and RMT the only 2 small cap closed end funds by Royce.