Unparalleled Knowledge & Experience [in Small-Cap Companies]
Small-cap investment management has been our specialty for 40+ years.
Independent Thinking that Sets Us Apart
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.
A Commitment to Investing with You
Our team of 17 portfolio managers have significant personal investments in the strategies they manage.
Royce & Associates (Royce) is affiliated with Legg Mason Investments (Ireland) Limited through common control and ownership by Legg Mason, Inc. Legg Mason Investments (Ireland) Limited provides its clients with access to Royce primarily through its UK and Ireland domiciled funds, in which Royce serves as investment manager.
The founder of Royce & Associates, Charles M. Royce, enjoys one of the longest tenures of any active mutual fund manager, still serving as its president and chief investment officer. A Legg Mason, Inc. subsidiary since 2001, Royce strives to build small-cap value portfolios that provide solid absolute performance with a focus on reducing volatility.
Philosophy

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.

Meet the Fund Managers
Royce & Associates (Royce) is affiliated with Legg Mason Investments (Europe) Limited through common control and ownership by Legg Mason, Inc. Legg Mason Investments (Europe) Limited provides its clients with access to Royce primarily through its UK and Ireland domiciled funds, in which Royce serves as investment manager.