Annual Letter: Are Valuation, Earnings, and Volatility the Formula for Small-Cap Success?

by Chris Clark and Francis Gannon

Can relatively attractive valuations, strong earnings, and heightened volatility put small-cap back on top?
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Market Perspective

4 Small-Cap Premier Holdings

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle detail the investment case for two of 2024’s top contributors and two top detractors in our Small-Cap Premier Strategy.

Investment Focus

How Will Small-Caps Respond to Tariffs and Heightened Volatility?

CEO and Co-CIO Chris Clark details why tariff-driven volatility can ultimately help small-cap performance.

Market Perspective

Why Small-Cap Growth Looks Promising

PM Chip Skinner discusses his investment approach, two high-confidence holdings, and his optimistic outlook for Royce Smaller-Companies Growth Fund.

Investment Focus

Small-Cap Opportunistic Value Strategy—4Q24 Update and Outlook

Lead Portfolio Manager Brendan Hartman, Portfolio Managers Jim Stoeffel and Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman detail how our Small-Cap Opportunistic Value Strategy performed in the fourth quarter and in 2024 while updating investors on their optimistic outlook.

Investment Focus

Royce Small-Cap Total Return—4Q24 Update and Outlook

Lead Portfolio Manager Miles Lewis, Portfolio Manager Joe Hintz, and Assistant Portfolio Manager Jag Sriram update investors on a strong quarter while offering a cautiously confident outlook.

Investment Focus
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US-Small-Cap-Overview

U.S. Small-Cap Market Overview

The U.S. Small-Cap Market Overview is a collection of charts that provides key takeaways from the quarter.

This content is for Financial Professionals only

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  • 15Years at Royce
  • 31Years of Experience

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John Davis
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US-Small-Cap-Overview

U.S. Small-Cap Market Overview

The U.S. Small-Cap Market Overview is a collection of charts that provides key takeaways from the quarter.

This content is for Financial Professionals only

Read More

My Funds

Personalize Your Site
Which funds do you want to follow?

Add Funds

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