Royce Global Financial Services Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.8%
1 yr return
20.3%
3 Yr Avg Return
-0.1%
5 Yr Avg Return
7.8%
Net Assets
$27.5 M
Holdings in Top 10
39.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.72%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 5.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RGFIX - Profile
Distributions
- YTD Total Return 3.8%
- 3 Yr Annualized Total Return -0.1%
- 5 Yr Annualized Total Return 7.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.98%
- Dividend Yield 2.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameRoyce Global Financial Services Fund
-
Fund Family NameRoyce
-
Inception DateJan 05, 2016
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCharles Royce
Fund Description
Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of companies that are “principally” engaged in the financial services industry. Examples of such companies include: commercial and industrial banks, savings and loan associations, companies engaged in consumer and industrial finance, insurance, securities brokerage and investment management, real estate investment trusts, real estate management and development companies, other financial intermediaries, and firms that primarily serve the financial services industry. Royce seeks to invest in securities that are trading below its estimate of their current worth. Royce focuses on companies that it believes have strong balance sheets, other business strengths, and/or strong business prospects. Royce also considers companies with the potential for improvement in cash flow levels and internal rates of return. Although the Fund primarily focuses on securities of financial services companies with stock market capitalizations up to $5 billion, it may invest an equal or greater percentage of its assets in securities of companies with larger market capitalizations.
The Fund will invest at least 40% of its net assets in equity securities of companies headquartered in at least three different countries outside of the United States, under normal circumstances. During periods when market conditions are not deemed favorable by Royce, the Fund will invest at least 30% of its net assets in such companies. As a result, a substantial portion of the Fund’s assets may be invested in companies that are headquartered in a single country or in a limited number of countries. While the Fund anticipates that its investment in foreign securities will generally be in securities of companies that are headquartered in “developed countries,” the Fund may also invest up to 10% of its net assets in securities of companies that are headquartered in “developing countries.” Developing countries, sometimes also referred to as emerging markets countries, include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries (as defined in the Fund’s Statement of Additional Information). In selecting securities for the Fund, Royce uses a bottom-up, value approach. Royce primarily focuses on company-specific criteria rather than on political, economic, or other country-specific factors.
The Fund invests at least 80% of its net assets in equity securities of companies “principally” engaged in the financial services industry under normal circumstances. For these purposes, a company is deemed to be principally engaged in the financial services industry if at least 50% of its consolidated assets, revenues, or net income are committed to, or are derived from, financial services-related activities. The Fund may invest in other investment companies that invest in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.
RGFIX - Performance
Return Ranking - Trailing
Period | RGFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.8% | -13.0% | 15.3% | 57.14% |
1 Yr | 20.3% | 6.9% | 32.1% | 61.54% |
3 Yr | -0.1%* | -20.5% | 15.1% | 68.13% |
5 Yr | 7.8%* | -5.9% | 17.5% | 46.15% |
10 Yr | N/A* | -0.9% | 13.5% | 56.18% |
* Annualized
Return Ranking - Calendar
Period | RGFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.0% | -12.2% | 29.3% | 56.04% |
2022 | -21.8% | -56.2% | 9.4% | 70.33% |
2021 | 14.1% | 1.6% | 54.4% | 88.04% |
2020 | 7.6% | -41.2% | 61.3% | 18.48% |
2019 | 21.6% | 10.5% | 97.3% | 61.96% |
Total Return Ranking - Trailing
Period | RGFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.8% | -13.0% | 15.3% | 57.14% |
1 Yr | 20.3% | 6.9% | 32.1% | 61.54% |
3 Yr | -0.1%* | -20.5% | 15.1% | 68.13% |
5 Yr | 7.8%* | -5.9% | 17.5% | 46.15% |
10 Yr | N/A* | -0.9% | 13.5% | 54.35% |
* Annualized
Total Return Ranking - Calendar
Period | RGFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.7% | -8.5% | 32.0% | 24.18% |
2022 | -20.4% | -56.2% | 11.4% | 87.91% |
2021 | 20.4% | 18.8% | 56.8% | 95.65% |
2020 | 15.2% | -41.2% | 61.3% | 8.70% |
2019 | 24.3% | 12.8% | 101.7% | 70.65% |
NAV & Total Return History
RGFIX - Holdings
Concentration Analysis
RGFIX | Category Low | Category High | RGFIX % Rank | |
---|---|---|---|---|
Net Assets | 27.5 M | 1.21 M | 38.4 B | 94.62% |
Number of Holdings | 50 | 26 | 412 | 63.04% |
Net Assets in Top 10 | 10.8 M | 456 K | 18.4 B | 85.87% |
Weighting of Top 10 | 39.44% | 18.0% | 84.7% | 56.52% |
Top 10 Holdings
- First Citizens BancShares Inc/NC 4.64%
- Tel Aviv Stock Exchange Ltd 4.51%
- Sprott Inc 4.50%
- FirstService Corp 4.45%
- KKR Co Inc 4.38%
- E-L Financial Corp Ltd 3.82%
- Popular Inc 3.50%
- Franco-Nevada Corp 3.46%
- Carlyle Group Inc/The 3.14%
- Intermediate Capital Group PLC 3.05%
Asset Allocation
Weighting | Return Low | Return High | RGFIX % Rank | |
---|---|---|---|---|
Stocks | 97.55% | 95.27% | 107.75% | 81.52% |
Other | 2.20% | -1.65% | 2.20% | 1.09% |
Cash | 0.26% | -8.24% | 32.40% | 81.52% |
Preferred Stocks | 0.00% | 0.00% | 3.05% | 42.39% |
Convertible Bonds | 0.00% | 0.00% | 0.10% | 33.70% |
Bonds | 0.00% | 0.00% | 2.83% | 41.30% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RGFIX % Rank | |
---|---|---|---|---|
Financial Services | 81.09% | 46.33% | 100.00% | 86.96% |
Real Estate | 7.87% | 0.00% | 40.95% | 8.70% |
Technology | 6.05% | 0.00% | 43.13% | 13.04% |
Basic Materials | 4.54% | 0.00% | 4.54% | 1.09% |
Industrials | 0.46% | 0.00% | 5.08% | 25.00% |
Utilities | 0.00% | 0.00% | 5.37% | 33.70% |
Healthcare | 0.00% | 0.00% | 5.97% | 36.96% |
Energy | 0.00% | 0.00% | 6.18% | 33.70% |
Communication Services | 0.00% | 0.00% | 4.06% | 38.04% |
Consumer Defense | 0.00% | 0.00% | 4.66% | 34.78% |
Consumer Cyclical | 0.00% | 0.00% | 42.54% | 44.57% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RGFIX % Rank | |
---|---|---|---|---|
US | 62.65% | 0.00% | 106.12% | 88.04% |
Non US | 34.89% | 0.00% | 99.31% | 11.96% |
RGFIX - Expenses
Operational Fees
RGFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.72% | 0.08% | 11.17% | 28.26% |
Management Fee | 1.00% | 0.03% | 1.25% | 89.25% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 8.70% |
Administrative Fee | N/A | 0.10% | 0.34% | N/A |
Sales Fees
RGFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
RGFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
RGFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 5.00% | 3.00% | 406.00% | 8.64% |
RGFIX - Distributions
Dividend Yield Analysis
RGFIX | Category Low | Category High | RGFIX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.01% | 0.00% | 13.17% | 8.60% |
Dividend Distribution Analysis
RGFIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
RGFIX | Category Low | Category High | RGFIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.98% | -0.76% | 10.57% | 28.26% |
Capital Gain Distribution Analysis
RGFIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 14, 2023 | $0.948 | OrdinaryDividend |
Dec 15, 2022 | $0.229 | OrdinaryDividend |
Dec 12, 2019 | $0.281 | OrdinaryDividend |
Dec 13, 2018 | $0.139 | OrdinaryDividend |
Dec 14, 2017 | $0.273 | OrdinaryDividend |
RGFIX - Fund Manager Analysis
Managers
Charles Royce
Start Date
Tenure
Tenure Rank
Dec 31, 2003
18.43
18.4%
Royce is the Royce & Associates, LLC's President, Co-Chief Investment Officer and Portfolio Manager. Founded Royce in 1972.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 25.42 | 9.67 | 4.58 |