-
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 – August 31, 2011 |
|
|
NAV $15.07
|
MKT $13.01
|
|
|
Total Return Performance |
Periods ended August 31, 2011 |
|
|
|
|
|
|
| NAV |
|
| MKT |
|
|
|
Month*
| | | | | | | |
-8.89%
| | |
-8.87%
|
|
Year to Date*
| | | | | | | |
-7.61
| | |
-8.22
|
|
One-Year
| | | | | | | |
22.75
| | |
26.17
|
|
Three-Year Average Annual
| | | | | | | |
1.10
| | |
-2.95
|
|
Five-Year Average Annual
| | | | | | | |
1.81
| | |
-2.09
|
|
10-Year Average Annual
| | | | | | | |
6.84
| | |
6.32
|
|
|
*Not Annualized
|
|
|
Portfolio Diagnostics |
|
| |
|
Wtd. Average Geometric Mkt. Cap:
|
|
$
|
1302 million
| | |
|
Wtd. Average P/E Ratio:
| | |
14.3*
| | |
|
Wtd. Average P/B Ratio:
| | |
1.6x
| | |
|
Net Assets Applicable to Common Stock:
| |
$
|
1229 million
| | |
|
Net Leverage:
| | |
12.2 %
| | |
|
|
*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.
Portfolio Composition |
|
|
Top 10 Positions |
| % of Net Assets |
|
1.
|
Coherent, Inc.
| |
1.0
|
%
|
|
2.
|
Alleghany Corp.
| |
1.0
| |
|
3.
|
Oil States International, Inc.
| |
1.0
| |
|
4.
|
HEICO Corp.
| |
0.9
| |
|
5.
|
Nordson Corp.
| |
0.9
| |
|
6.
|
Alliance Bernstein Holding, L.P.
| |
0.9
| |
|
7.
|
E-L Financial Corp. Ltd.
| |
0.8
| |
|
8.
|
Sapient Corp.
| |
0.8
| |
|
9.
|
The Advisory Board Company
| |
0.8
| |
10.
|
Ritchie Bros. Auctioneers, Inc.
| |
0.8
| |
|
|
Top Five Sectors | | % of Net Assets |
|
1.
|
Industrials
| |
35
|
%
|
|
2.
|
Financials
| |
28
| |
|
3.
|
Information Technology
| |
27
| |
|
4.
|
Consumer Discretionary
| |
16
| |
|
5.
|
Materials
| |
15
| |
|
|
Recent Developments
Royce Value Trust, Inc. (NYSE: RVT) has declared a quarterly
distribution of $0.21 per share on its Common Stock. The price of shares
issued for reinvestment will be determined on September 13, 2011. The
distribution, optionally payable in additional shares of Common Stock,
or in cash by specific stockholder election, is to be paid on September
23, 2011 to stockholders of record at the close of business on September
6, 2011.
Royce Value Trust, Inc. has declared a cash dividend of $0.36875 per
share on its Cumulative Preferred Stock, based on an annual rate of
5.90% of the initial liquidation preference of $25.00 per share. The
dividend is to be paid on September 23, 2011 to stockholders of record
at the close of business on September 6, 2011 (ex-dividend on September
1, 2011).
The Board of Directors of Royce
Value Trust, Inc. ("RVT") (NYSE:RVT) has approved, subject to
shareholder and other regulatory approvals, the contribution of a
portion 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.
RVT would contribute to RGT approximately $100 million of its cash
and/or securities and would then distribute all of the shares of RGT
common stock pro rata to the common stockholders of RVT. RGT will seek
to have its shares listed on the New York Stock Exchange. The
transaction is expected to be voted upon at a Special Meeting of RVT's
stockholders to be held once RVT has obtained certain regulatory
approvals from the SEC.
Royce Value Trust (NYSE: RVT) resumed a quarterly distribution policy
for Common Stockholders, beginning in March 2011, at the annual rate of
5%.
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
John D. Diederich, 212-355-7311
Source: Royce Value Trust, Inc.
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