- Invests in a limited number of small-cap companies using a value approach
- Average weekly trading volume of approximately 194,000 shares
- Fund''s adviser has more than 35 years of small- and micro-cap investment experience
Royce Focus Trust (NASDAQ: FUND):
Closing Prices – July 31, 2010 |  |  | ||
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| NAV $6.87 | ||||
| MKT $5.95 | ||||
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Total Return Performance | ||||
Periods ended July 31, 2010 | NAV | MKT | ||
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| 1 Month* | 4.09% | 3.66% | ||
| Year to Date* | -4.05 | -6.00 | ||
| One-Year | 13.55 | 9.38 | ||
| Three-Year Average Annual | -5.69 | -10.52 | ||
| Five-Year Average Annual | 4.39 | 2.14 | ||
| Ten-Year Average Annual | 10.11 | 10.71 | ||
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| *Not Annualized | ||||
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Portfolio Diagnostics | ||||
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| Wtd. Average Geometric Market Cap | $2538 million | |||
| Wtd. Average P/E Ratio: | 10.7x* | |||
| Wtd. Average P/B Ratio: | 1.7x | |||
| Net Assets Applicable to Common Stock: | $161 million | |||
| Net Leverage: | 1 % |
*The Funds'' P/E ratio calculations exclude companies with zero or negative earnings.
Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets, applicable to common stock.
Portfolio Composition | Â | |
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Top 10 Positions | % of Net Assets | |
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| 1. Berkshire-Hathaway, Inc. | 4.6% | |
| 2. Kennedy Wilson Holdings | 2.9 | |
| 3. Sanderson Farms | 2.9 | |
| 4. GrafTech International | 2.9 | |
| 5. Seabridge Gold | 2.8 | |
| 6. Mosaic Company (The) | 2.8 | |
| 7. ENSCO ADR | 2.8 | |
| 8. Trican Well Service | 2.7 | |
| 9. Reliance Steel & Aluminum | 2.6 | |
| 10. Schnitzer Steel Industries Cl. A | 2.5 | |
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Top Five Industries | % of Net Assets | |
| 1. Natural Resources | 29% | |
| 2. Industrial Products | 21 | |
| 3. Consumer Products | 12 | |
| 4. Financial Services | 11 | |
| 5. Technology | 9 |
Recent Developments
Royce Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq National Market (Nasdaq - FUND) and whose shares of 6.00% Cumulative Preferred Stock are listed and traded on the NYSE (RFO.pra). The Fund''s investment goal is long-term capital growth, which it seeks by normally investing at least 75% of its assets in equity securities.
Daily net asset values (NAVs) for Royce Focus Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XFUNX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com.
Contacts:
Royce Focus Trust, Inc.
John D. Diederich, 212-355-7311