Royce Small-Cap Trust (NYSE:RVT) is a closed-end investment company that primarily invests in small-capitalization U.S. equities. The trust seeks long-term capital appreciation by focusing on companies whose market values fall within the small-cap spectrum. Through its investment portfolio, RVT gains exposure to a diversified group of issuers across various sectors, including technology, healthcare, industrials, and consumer products, with the aim of capturing growth opportunities often overlooked by larger institutional investors.
Managed by Royce & Associates, Inc., the trust employs a fundamentally driven investment process rooted in bottom-up research. Portfolio managers and analysts conduct in-depth company visits, financial statement analysis, and management interviews to identify high-quality businesses trading at valuations that the team believes undervalued by the broader market. The trust may also engage in selective use of leverage to enhance long-term returns, while risk management practices are designed to monitor liquidity and sector exposures.
Since its inception, Royce Small-Cap Trust has maintained a consistent mandate of investing in U.S. small-cap companies, leveraging the specialized expertise of Royce & Associates, a firm founded by John A. Royce in 1972 and headquartered in New York City. This heritage of small-cap investing is supported by a seasoned leadership team and a dedicated research group, whose collective experience spans several market cycles. The trust’s governance structure includes an independent board of trustees, ensuring alignment with shareholder interests through rigorous oversight of strategy and performance.
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