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Oldest and largest small-cap closed-end fund
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Average weekly trading volume of approximately 341,000 shares
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Fund’s adviser has more than 35 years of small- and micro-cap
investment experience
NEW YORK -- (Business Wire)
Royce Value Trust, Inc.(NYSE: RVT):
Closing Prices – October 31, 2012 |
|
|
|
NAV
|
$14.86
|
|
MKT
|
$13.02
|
Total Return Performance |
|
|
| |
| |
Periods ended October 31, 2012 | | | | NAV | | MKT |
| | | | | |
|
|
Month*
| | | |
-0.07%
| |
-0.38%
|
|
Year to Date*
| | | |
9.34
| |
10.71
|
|
One-Year
| | | |
6.80
| |
8.93
|
|
Three-Year Average Annual
| | | |
12.34
| |
14.28
|
|
Five-Year Average Annual
| | | |
-1.12
| |
-1.34
|
|
10-Year Average Annual
| | | |
9.21
| |
7.32
|
| | | | | |
|
|
*Not Annualized
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Portfolio Diagnostics | |
| |
| | |
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Wtd. Average Geometric Mkt. Cap:
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$1373 million
| | |
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Wtd. Average P/E Ratio:
|
14.7*
| | |
|
Wtd. Average P/B Ratio:
|
1.6x
| | |
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Net Assets Applicable to Common Stock:
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$1256 million
| | |
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Net Leverage:
|
7.2 %
| | |
| | |
|
*The Fund’s P/E ratio calculation excludes companies with zero
or negative earnings. | | |
| | |
|
|
Net leverage is the percentage, in excess of 100%, of the total
value of equity type investments, divided by net assets applicable
to common stock.
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Portfolio Composition |
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| |
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Top 10 Positions | | % of Net Assets |
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1. Mohawk Industries
| |
1.2%
|
|
2. Advisory Board (The)
| |
1.1
|
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3. Carter’s
| |
1.0
|
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4. Ethan Allen Interiors
| |
1.0
|
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5. HEICO Corp.
| |
1.0
|
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6. Nordson Corp.
| |
1.0
|
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7. Coherent
| |
0.9
|
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8. Lincoln Electric Holdings
| |
0.9
|
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9. PAREXEL International
| |
0.9
|
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10. Lazard Cl. A
| |
0.9
|
| |
|
Top Five Sectors | | % of Net Assets |
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1. Industrials
| |
29%
|
|
2. Information Technology
| |
20
|
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3. Financials
| |
19
|
|
4. Consumer Discretionary
| |
15
|
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5. Materials
| |
9
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Recent Developments
The Board of Directors of Royce Value Trust, Inc. has approved, subject
to stockholder and other regulatory approvals, the contribution of
approximately $100 million of RVT’s assets to a newly formed
non-diversified, closed-end investment company, Royce Global Value
Trust, Inc. (“RGT”). All of RGT’s common stock would then be distributed
to the common stockholders of RVT. There is no assurance that necessary
stockholder and regulatory approvals will be obtained.
The Board of Directors Royce Value Trust, Inc. has approved the
redemption of all of the Fund’s outstanding 5.90% Cumulative Preferred
Stock on November 15, 2012. A senior secured credit facility provided by
a financial institution will be used to redeem and replace a portion of
the outstanding Preferred Shares.
Royce Value Trust is a closed-end diversified management investment
company whose shares of Common (RVT) and 5.90% Cumulative Preferred
Stock (RVTprb) are listed and traded on the New York Stock Exchange. Its
primary investment goal is long-term capital growth, which it seeks by
investing at least 65% of its assets in equity securities primarily of
small- and micro-cap companies.
Daily net asset values (NAVs) for Royce Value Trust are now available on
our website and online through most ticker symbol lookup services and on
broker terminals under the symbol XRVTX. For more information, please
call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com.
Contacts:
Royce Value Trust, Inc.
John D. Diederich, 212-355-7311
Source: Royce Value Trust, Inc.