On Friday, January 29, Royce Funds will close two mutual funds to new investors. The Legg Mason subsidiary will partially close the Royce Premier Fund and the Royce Micro-Cap Fund, according to a filing. Both funds originally launched in 1991.

The two funds will remain open only to existing investors (who may not open new accounts), existing RIA clients, and certain pre-approved retirement plans.

The Royce Premier fund had net assets of $5.2 billion, and the Micro-Cap Fund had total net assets of $1.1 billion as of December 31. 

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