Business & Finance
Wed, September 5, 2012 
NEW YORK--([ BUSINESS WIRE ])--In release dated Aug. 21, 2012, figure in Portfolio Diagnostics table for Net Assets Applicable to Common Stock should read:$1199 million (sted $1198 million).
The corrected release reads:
ROYCE VALUE TRUST (NYSE: RVT) AS OFJULY 31, 2012
- Oldest and largest small-cap closed-end fund
- Average weekly trading volume of approximately 341,000 shares
- Fundas adviser has more than 35 years of small- and micro-cap investment experience
Royce Value Trust (NYSE: RVT)
Closing Prices a" July 31, 2012
| NAV | $ | 14.14 | |
| MKT | $ | 12.34 |
Total Return Performance | ||||
Periods ended July 31, 2012 | NAV | MKT | ||
| Month* | -1.39% | - 0.96% | ||
| Year to Date* | 2.64 | 3.52 | ||
| One-Year | -8.97 | -7.86 | ||
| Three-Year Average Annual | 12.19 | 13.70 | ||
| Five-Year Average Annual | -1.13 | -2.77 | ||
| 10-Year Average Annual | 8.02 | 6.10 | ||
| *Not Annualized |
Portfolio Diagnostics | ||
| Wtd. Average Geometric Mkt. Cap: | $1325 million | |
| Wtd. Average P/E Ratio: | 14.2* | |
| Wtd. Average P/B Ratio: | 1.5x | |
Net Assets Applicable to Common Stock: | $1199 million | |
| Net Leverage: | 13.4 % |
*The Fundas P/E ratio calculation excludes 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 | ||
Top 10 Positions | % of Net Assets | |
| 1. Coherent | 1.0% | |
| 2. Carteras | 0.9 | |
| 3. Nordson Corp. | 0.9 | |
| 4. Advisory Board (The) | 0.9 | |
| 5. Mohawk Industries | 0.8 | |
| 6. MAXIMUS, Inc. | 0.8 | |
| 7. HEICO Corp. | 0.8 | |
| 8. PAREXEL International | 0.7 | |
| 9. Lazard Ltd. | 0.7 | |
| 10. Cognex Corp. | 0.7 | |
Top Five Sectors | % of Net Assets | |
| 1. Industrials | 29% | |
| 2. Information Technology | 22 | |
| 3. Financials | 21 | |
| 4. Consumer Discretionary | 15 | |
| 5. Materials | 9 |
Recent Developments
The Board of Directors of Royce Value Trust, Inc. has approved, subject to stockholder and other regulatory approvals, the contribution of approximately $100 million of RVTas assets to a newly formed non-diversified, closed-end investment company, Royce Global Value Trust, Inc. (aRGTa). All of RGTas common stock would then be distributed to the common stockholders of RVT. There is no assurance that necessary stockholder and regulatory approvals will be obtained.
Royce Value Trust is a closed-end diversified management investment company whose shares of Common (RVT) and 5.90% Cumulative Preferred Stock (RVTprb) are listed and traded on the New York Stock Exchange. Its primary investment goal is long-term capital growth, which it seeks by investing at least 65% of its assets in equity securities primarily of small- and micro-cap companies. Daily net asset values (NAVs) for Royce Value Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XRVTX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at [ www.roycefunds.com ].
