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Royce Micro-Cap Discovery Fund to liquidate

TheShadowTheShadow
in Fund Discussions
http://www.sec.gov/Archives/edgar/data/709364/000094937715000368/e37643_rdf-isi497.htm

497 1 e37643_rdf-isi497.htm

The Royce Fund

Supplement to the Investment, Service, and Institutional Class Shares Prospectus Dated May 1, 2015

Royce Micro-Cap Discovery Fund

The Royce Fund’s Board of Trustees approved a plan of liquidation for Royce Micro-Cap Discovery Fund, to be effective on December 8, 2015. The Fund is being liquidated primarily because it has not attracted and maintained assets at a sufficient level for it to be viable. As of October 9, 2015, the Fund was no longer offering its shares for purchase and was not accepting any investments in the Fund.

October 26, 2015

DSC-SUPP-CLOSE

Comments

  • MOZART325
    Not surprising given their lousy performance this year. Another example of survivorship bias in action. Royce wants to remove this fund from their track record.
  • BenWPBenWP
    Someone else made all the discoveries.
  • ShostakovichShostakovich
    Lord knows how the Royce Discovery funds which Neckhov has been the manager of have stuck it out for so long. They have been abysmal for some time. Buy, you know, Chuck Royce will try anything once as long as he can stick a 2.5% ER on it.
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