Portfolio Manager Boniface Zaino to Lead Team Managing Royce Opportunity Fund

NEW YORK, April 20, 2021 /PRNewswire/ -- Royce Investment Partners ("Royce") announced today that Boniface "Buzz" Zaino will lead the portfolio management team of Royce Opportunity Fund, as well as the firm's other portfolios that are managed with the unique opportunistic value strategy that he developed. Although Mr. Zaino transitioned from Portfolio Manager to Senior Advisor on the strategy in October 2018, he has remained actively engaged in the Strategy's portfolios in the interim. Three Portfolio Managers will join the new investment team being led by Mr. Zaino: James P. Stoeffel and Brendan J. Hartman, who also manage Royce Micro-Cap Fund, and James Harvey, who spent a decade as an analyst with Mr. Zaino working directly on the Opportunity strategy. 

This change takes place as Portfolio Managers William Hench, Robert Kosowsky, and Suzanne Franks, as well as Analyst Adam Mielnik, resigned from Royce on April 20. That prior team had managed the strategy since October 2018. 

Royce's CEO Chris Clark said, "Buzz created the opportunity strategy and very successfully managed it for more than two decades at Royce. We are fortunate to once again have his leadership guiding a team that includes three additional portfolio managers with a combined 46 years of investment experience managing small- and micro-cap portfolios."  

Mr. Zaino said, "I'm very excited to be working with such an experienced team to manage this strategy which I founded several decades ago. I believe the current market environment presents very attractive opportunities for investing in small- and micro-cap stocks, especially those that fall within the scope of our value-oriented discipline." 

The strategy will be managed as it has been since 1998, using Royce's opportunistic approach to invest in small- and micro-cap companies focused on four distinct themes: Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings. The investment team will continue to identify catalysts for future earnings growth in the form of new management, more favorable business cycles, product innovation, and/or margin improvement. 

About Royce Investment Partners: Royce Investment Partners is a small-cap equity specialist offering distinct investment strategies with unique risk/return profiles designed to meet a variety of investors' needs. For more than 45 years, our strategies have focused on active, risk-conscious investing driven by deep, fundamental company research. Chuck Royce, the firm's founder and a pioneer of small-cap investing, enjoys one of the longest tenures in the industry. Royce & Associates, LP, primarily conducts its business under the name Royce Investment Partners. Royce & Associates, LP is a subsidiary of Franklin Resources. (NYSE: BEN). Royce Fund Services, LLC, the Fund's distributor, is a member of FINRA and the SIPC.

Please read the fund's prospectus carefully and consider a fund's investment goals, risks, fees and expenses before investing or sending money. The prospectus contains this and other information. Distributor: Royce Fund Services, LLC

An investor in The Royce Funds should consider the Fund's investment goal, risks, fees, charges, and expenses carefully before investing. A prospectus containing this and other important information may be obtained by calling Investor Services at 1-800-221-4268 or by visiting www.roycefunds.com. Please read the prospectus carefully before investing or sending money.

SOURCE Royce Investment Partners