(Source: Business Wire)
Royce Value Trust (NYSE: RVT):
Oldest and largest small-cap closed-end fund
Average weekly trading volume of approximately 341,000 shares
Fund's adviser has more than 35 years of small- and micro-cap
investment experience
Closing Prices -- September 30, 2009
NAV $12.12
MKT $10.33
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Total Return Performance
Periods ended September 30, 2009 NAV MKT
1 Month* 6.13 % 7.76 %
Year to Date* 36.17 29.66
One-Year -8.62 -14.01
Three-Year Average Annual -5.58 -11.84
Five-Year Average Annual 2.66 -1.46
10-Year Average Annual 8.12 8.09
*Not Annualized
Portfolio Diagnostics
Wtd. Average Market Cap: $1625 million
Wtd. Average P/E Ratio: 17.6*
Wtd. Average P/B Ratio: 1.7x
Wtd. Average Portfolio Yield: 1.2%
Net Assets Attributable to Common Stock: $1020 million
Net Leverage: 15.9%
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*The Fund's 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. AllianceBernstein Holding L.P. 1.1%
2. Ashgrove Cement Cl. B 1.1
3. Ritchie Bros. Auctioneers 1.0
4. SEACOR Holdings 1.0
5. Reliance Steel & Aluminum 1.0
6. Simpson Manufacturing 0.9
7. Plexus Corp. 0.9
8. Nordson Corp. 0.9
9. Evercore Partners Cl. A 0.8
10. Syntel 0.8
Top Five Industries % of Net Assets
1. Technology 22%
2. Industrial Products 21
3. Industrial Services 17
4. Financial Services 14
5. Financial Intermediaries 13
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Recent Developments
Royce Value Trust, Inc. paid a cash dividend of $0.36875 per share on
its Cumulative Preferred Stock, based on an annual rate of 5.90% 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 on September 3, 2009).
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 75% 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.
A service of YellowBrix, Inc.
