Royce & Associates

Adjust Font Size Increase font size Decrease font size    


Royce & Associates (Royce), established in 1972, is dedicated to managing portfolios of small- and micro-cap US companies. Based in New York and with nearly four decades of small-cap investment experience, the firm uses a disciplined value approach to portfolio management.

The founder of Royce & Associates, Charles M. Royce, enjoys one of the longest tenures of any active mutual fund manager.



Royce & Associates is a small-cap specialist with unparalleled knowledge and experience.

We are pioneers in small-cap investing—it's been our specialty for 40+ years. What sets us apart is our unparalleled depth of small-cap knowledge, experience, and focus, combined with our culture of intellectual curiosity, creativity, and collaboration. This creates an environment where our team has the confidence to go against consensus, the insight to uncover opportunities others might miss, and the tenacity to stay the course through market cycles.

Within a common culture we encourage our talented managers to refine their distinct investment approaches and offer strategies with different risk/return profiles. These distinct approaches offer clients clear choices to meet their specific small-cap needs. In our experience, successful investment demands commitment. We demonstrate our commitment by investing alongside you. Our team of portfolio managers has significant personal investments in the strategies they manage.

Funds Managed By Royce & Associates

Royce & Associates - Recognised Funds


Royce & Associates (Royce) is affiliated with Legg Mason Global Distribution through common control and ownership by Legg Mason, Inc. Legg Mason Global Distribution provides its clients with access to Royce primarily through its UK, Dublin and Luxembourg domiciled funds, in which Royce serves as investment manager.