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Royce makes new manager appointments

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Royce & Associates, investment adviser to The Royce Funds, has made new portfolio manager appointments on several funds, effective immediately.

These appointments are taking place in conjunction with the planned departure of portfolio manager Whitney George.
 
Chuck Royce will continue to manage Royce Premier Fund, as he has since the fund’s inception in 1991. Lauren Romeo remains the fund’s assistant portfolio manager, as she has since 2006. Steven McBoyle, who has been with Royce since 2007 and has 24 years of investment experience, will join as assistant portfolio manager in November.
 
Jim Stoeffel becomes portfolio manager of Royce Low-Priced Stock Fund, on which he currently serves as assistant portfolio manager.  Stoeffel has been with Royce since 2009, has 21 years of investment experience, and has worked closely with George over the last five years. Bill Hench, Jim Harvey, and Carl Brown will serve as the fund’s assistant portfolio managers. Hench, Harvey, and Brown have been with Royce for 12, 16, and five years, respectively.
 
David Nadel, who currently serves as assistant portfolio manager, will lead Royce Global Value Fund together with portfolio managers McBoyle, Harvey, and Dilip Badlani. This group brings a wealth of portfolio management experience on both our international and domestic funds. Nadel has been with Royce for eight years and from 2009-2013 served as the fund’s co-manager. Badlani has been with Royce for four years and has 14 years of investment industry experience.
 
Romeo will also become lead portfolio manager of Royce 100 Fund, with Royce serving as portfolio manager.
 
Chris Clark, Royce’s president, says: “We are excited about the new portfolio management assignments for this talented group of investment professionals who will help to position us for long-term success. Over the past several years, we have taken steps to transition the firm from one primarily identified with our iconic founder to one built with a strong and sustainable foundation for continued excellence in smaller-company investing.”

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