Manager Commentaries

Twice a year, our portfolio managers deliver Manager Commentaries that provide timely investment insights. 2025’s Semiannual Manager Commentaries are now available, so you can get the latest outlooks from our investment teams and see what companies, industries, and sectors drove performance in 2025’s first half.
Continue reading

Investment Focus

Semiannual Letter: An Uncertain Short-Term Forecast for a Resilient Market

by Chris Clark and Francis Gannon

Strong fundamentals, a bullish July, and a rough start to August may be the recipe for small-cap leadership.

Market Perspective

Royce Small-Cap Total Return—2Q25 Update and Outlook

Lead Portfolio Manager Miles Lewis, Portfolio Manager Joe Hintz, and Assistant Portfolio Manager Jag Sriram update investors on a solid quarter and their cautious outlook.

Investment Focus

Small-Cap Premier Quality Strategy—2Q25 Update and Outlook

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle and Assistant Portfolio Manager Andrew Palen update investors on the Strategy’s recent performance while providing an optimistic long-term outlook for high-quality U.S. small-caps.

Investment Focus

Royce Small-Cap Fund—2Q25 Update and Outlook

Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, Andrew Palen, and Miles Lewis update investors on how our flagship portfolio, Royce Small-Cap Fund, performed in 2Q25 and YTD while Co-Chief Investment Officer and Portfolio Manager Francis Gannon offers a constructive long-term outlook for the Fund.

Investment Focus

The Royce Roundtable: Small-Cap Forecast—More Volatility and Cautious Optimism

Portfolio Managers Chip Skinner and Jim Stoeffel and Assistant Portfolio Manager Kavitha Venkatraman join CEO and Co-CIO Chris Clark and Co-CIO Francis Gannon for our Royce Roundtable, a new feature that highlights the insights of our investment teams.

Market Perspective
Please swipe to view more

miles-lewis-in-forbes

Forbes Profiles Miles Lewis

Miles Lewis spoke with William Baldwin about the current small-cap market and six key holdings.

View Article

My Funds

Personalize Your Site
Which funds do you want to follow?

Add Funds

Our People

  • 16Years at Royce
  • 30Years of Experience

Brendan Hartman
Portfolio Manager, Principal

Brendan Manages

Contact Information

General Information (800) 221-4268

Media Contact
John Davis
E-mail John
(212) 508 4594

miles-lewis-in-forbes

Forbes Profiles Miles Lewis

Miles Lewis spoke with William Baldwin about the current small-cap market and six key holdings.

View Article

My Funds

Personalize Your Site
Which funds do you want to follow?

Add Funds

Research our firm with FINRA's BrokerCheck

Share:

Subscribe:

Sign Up

Follow: