Royce Focus Trust, Inc. (NASDAQ:FUND):
Closing Prices October 31, 2014 | ||
| NAV | $ | 8.66 |
| MKT | $ | 7.76 |
Total Return Performance | |||||||||||
Periods ended October 31, 2014 | NAV | MKT | |||||||||
| 1 Month* | -0.80 | % | -1.40 | % | |||||||
| Year to Date* | 3.64 | 5.79 | |||||||||
| One-Year | 7.37 | 7.04 | |||||||||
| Three-Year Average Annual | 9.16 | 10.11 | |||||||||
| Five-Year Average Annual | 11.32 | 11.44 | |||||||||
| Ten-Year Average Annual | 8.34 | 7.05 | |||||||||
*Not Annualized
Portfolio Diagnostics | ||||||
| Wtd. Average Geometric Market Cap | $ | 6405million | ||||
| Wtd. Average P/E Ratio: | 17.0x* | |||||
| Wtd. Average P/B Ratio: | 2.2x* | |||||
| Net Assets: | $ | 195million | ||||
*The Funds’ P/E ratio calculations exclude companies with zero or negative earnings.
Portfolio Composition
Top 10 Positions | % of Net Assets | ||||
| 1. Myriad Genetics | 4.9% | ||||
| 2. Apple | 4.6 | ||||
| 3. Western Digital Corp. | 4.5 | ||||
| 4. Franklin Resources | 3.8 | ||||
| 5. Kennedy-Wilson Holdings | 3.3 | ||||
| 6. SanDisk Corp. | 3.1 | ||||
| 7. Exxon Mobil Corp. | 3.0 | ||||
| 8. Thor Industries | 2.8 | ||||
| 9. Cirrus Logic | 2.7 | ||||
| 10. TGS-NOPEC Geophysical | 2.6 | ||||
Top Five Sectors | % of Net Assets | ||||
| 1. Information Technology | 20% | ||||
| 2. Materials | 17 | ||||
| 3. Financials | 17 | ||||
| 4. Energy | 13 | ||||
| 5. Consumer Discretionary | 9 | ||||
Recent Developments
In December, Royce Focus Trust’s Board of Directors will meet to consider approving a new Investment Advisory Agreement for Royce Focus Trust (Nasdaq: FUND) with Sprott Asset Management, a Toronto-based alternative asset manager. Approval would enable W. Whitney George to continue managing the portfolio following his departure from Royce & Associates, LLC (“Royce”), the Fund’s investment adviser. The Fund would then seek stockholder approval of the new Agreement. During this transition, Mr. George will continue as an employee of Royce and as the Fund’s portfolio manager.
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). The Fund's investment goal is long-term capital growth, which it seeks by normally investing at least 65% 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.
Contacts:
John D. Diederich, 212-355-7311
