MutualFundWire.com: Royce Prepares to Merge Away Two Funds

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Friday, October 23, 2015

Royce Prepares to Merge Away Two Funds

Royce [profile] is preparing to collapse two of its mutual funds into a third, smaller fund.

Chuck Royce
The Royce Funds
Chief Executive Officer, Portfolio Manager

The value equity shop and Legg Mason subsidiary revealed in a recent filing that, pending shareholder approval, in the first half of 2016 it will merge the Royce European Small-Cap Fund and the Royce global Value Fund into the Royce International Premier Fund.

The acquiring fund is PMed by David Nadel and Mark Rayner, has a three-star rating, and has $8.6 million in AUM. The European fund is rated two stars with $22.5 million in AUM and is also PMed by Nadel and Rayner. And the Global fund is rated one star with $61.5 million in AUM and is PM by Dilip Badlani, James Harvey, and Steven McBoyle, as well as Nadel.

Printed from: MFWire.com/story.asp?s=52782

Copyright 2015, InvestmentWires, Inc.
All Rights Reserved