Royce Low-Priced Stock Fund Open Only to Existing Shareholders and Existing Relationships as of February 28, 2011
23 2월 2011 - 11:50PM
Business Wire
Effective after the close of business (4:00 p.m. EST) on Monday,
February 28, 2011, Royce Low-Priced Stock Fund will be open only to
existing shareholders and existing relationships.
The Fund is making this change in an effort to moderate cash
flows, which have been considerable in light of the recent relative
outperformance by small-cap and micro-cap companies. Stable cash
flows are critical to managing the Fund’s portfolio. Thus, we think
it is in the best interests of the Fund’s existing shareholders and
relationships to moderate net cash flows into the Fund at this
time.
All investments received or postmarked on or before the Fund’s
closing on Monday, February 28 at 4:00 p.m. Eastern time will be
processed.
The Fund will remain open to the following:
- Existing investors—in their own name or
as beneficial owner of shares held in someone else’s name—for
example, a nominee, custodian or omnibus account holding shares for
the benefit of an investor would not be eligible to open a new
account for its own benefit or for the benefit of another investor,
but the investor would be eligible to open a new account of the
Fund;
- Registered Investment Advisors with
existing clients in the Fund. Registered Investment Advisors who
currently have clients in the Fund may open new accounts as well as
add to existing accounts;
- Certain pre-approved asset allocation
based investment programs and, for a limited time, initial
investments by certain institutional investors approved by the
Fund’s investment adviser;
- Certain pre-approved “Retirement Plans”
offered through certain broker-dealers with accounts held on the
books of the Fund through omnibus account arrangements (either at
the plan level or at the level of the financial intermediary).
“Retirement Plans” include 401(k) plans, 457 plans, employer
sponsored 403(b) plans, defined benefit pension plans, profit
sharing plans, nonqualified deferred compensation plans, other
similar employer-sponsored retirement plans and rollover accounts
from such plans to individual retirement vehicles such as
Traditional and Roth IRAs.
Existing shareholders in other Royce Funds will not be permitted
to open new accounts in Royce Low-Priced Stock Fund after Monday,
February 28, 2011, nor will they be permitted to acquire shares of
the Fund by exchange. Fund distributions will continue to be
reinvested, unless a shareholder has elected otherwise.
Royce Low-Priced Stock Fund uses a disciplined value approach to
invest primarily in the equity securities of small-cap and
micro-cap companies (those with market capitalizations up to $2.5
billion) whose average cost per share in the Fund’s portfolio is
less than $25. As of December 31, 2010, the Fund had total net
assets of $4.7 billion.
Any changes to the Fund’s status will be posted at
www.roycefunds.com.
An investor in the Fund should consider the its investment goal,
risks, fees and expenses carefully before investing. A prospectus
containing this and other important information may be obtained by
calling Investor Services at (800) 221-4268 or by visiting
www.roycefunds.com. Please read the prospectus carefully before
investing or sending money. Royce Fund Services, Inc., the Fund’s
distributor, is a member of FINRA and the SIPC.
Please contact Joanne Newgard at (800) 562-0880 with any
questions.
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