(Source: Business Wire)
Royce Focus Trust (NASDAQ: FUND):
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
Closing Prices -- September 30, 2009
NAV $6.68
MKT $5.93
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Total Return Performance
Periods ended September 30, 2009 NAV MKT
1 Month* 9.33 % 9.61 %
Year to Date* 43.63 31.94
One-Year -0.12 -17.73
Three-Year Average Annual 0.88 -4.20
Five-Year Average Annual 6.52 5.11
Ten-Year Average Annual 11.59 12.16
*Not Annualized
Portfolio Diagnostics
Wtd. Average Market Cap $13377 million
Wtd. Average P/E Ratio: 17.0x*
Wtd. Average P/B Ratio: 2.2x
Wtd. Average Portfolio Yield: 1.5%
Net Assets Attributable to Common Stock: $157 million
Net Leverage: 1%
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*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
Top 10 Positions % of Net Assets
1. Kennedy-Wilson Conv. 6.0%
2. Buckle (The) 3.1
3. Knight Capital Group Cl.A 3.0
4. Reliance Steel & Aluminum 2.9
5. Unit Corp. 2.8
6. Trican Well Service 2.8
7. Silver Standard Resources 2.4
8. Ivanhoe Mines 2.4
9. Franklin Resources 2.3
10. Sanderson Farms 2.3
Top Five Industries % of Net Assets
1. Natural Resources 28%
2. Industrials Products 24
3. Consumer Products 10
4. Financial Services 8
5. Technology 8
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Recent Developments
Royce Focus Trust, Inc. declared a cash dividend of $0.375 per share on
its Cumulative Preferred Stock, based on an annual rate of 6.00% of the
initial liquidation preference of $25.00 per share. The dividend was
paid on September 23, 2009 to stockholders of record at the close of
business on September 8, 2009 (ex-dividend September 3, 2009).
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 as 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.
A service of YellowBrix, Inc.
