|Bid||0.00 x 308300|
|Ask||0.00 x 2200|
|Day's Range||49.99 - 50.00|
|52 Week Range||35.10 - 50.70|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||17.77|
|Earnings Date||Oct 22, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Royce Fund (the "Trust") today announced that the shareholders of Royce Total Return Fund (the "Fund") voted to approve a new investment advisory agreement with the Trust's investment manager, Royce Investment Partners ("Royce")1, at its Special Meeting of Shareholders (the "Meeting"). With that action, every series of the Trust has now approved a new investment advisory agreement with Royce. "We thank our shareholders for their participation and strong support for the new agreement," said Christopher D. Clark, the Trust's President.
Franklin Resources (NYSE: BEN), a holding company that operates the investment management firm Franklin Templeton, just acquired competitor Legg Mason in a $4.5 billion deal that now makes the combined firm one of the world's largest in assets under management. As a result, Franklin Resources may have overpaid for the acquisition.
One might look at the performance of the financial sector this year, down about 18% as of Wednesday's close, and just write off the whole sector until better days. While some industries, like banks, for example, are struggling mightily through this recession, there are others, like fintechs and financial services, that are doing well. The 2010s were pretty much a lost decade for Franklin Resources (NYSE: BEN), the parent company of Franklin Templeton Investments.