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Small Cap Pioneers Share Their Investing Principles
by Chuck Royce, Chris Clarke of Royce Investment Partners, 1/27/23

As Royce Investment Partners, the pioneers of small cap investing, celebrate their 50th anniversary, Chuck Royce and Chris Clark take a look at the past 50 years to provide a take on what they have learned and how it guides their views on what is yet to come for the asset class.

A Most Wonderful Year For Small-Caps
by Chuck Royce, Francis Gannon, Chris Clark of The Royce Funds, 2/22/17

2016 was a terrific year for small-cap stocks—and an even better year for small-cap value and cyclical sectors.

A Bear, A Brexit, and A Welcome Start to 2016
by Chris Clark, Francis Gannon, and Chuck Royce of The Royce Funds, 8/11/16
The market's pronounced shift toward companies with attractive to reasonable valuations, solid balance sheets, and strong profitability in the first half of 2016 helped many active managers, ourselves included.

Is the Small-Cap Market Out of Joint?
by Chuck Royce, Chris Clark, Francis Gannon of The Royce Funds, 8/10/15
While results for most stocks in the first half were decidedly bullish, the primary drivers of performance continue to be unsettling—especially for those with an active, risk-conscious approach who’ve lagged in an environment that has often shown favor to highly levered, non-earning, and more speculative businesses. The question is—when will the speculative bubble burst?

Signs of a Normalizing Market
by Chris Clark of The Royce Funds, 3/25/15
In the wake of the 2008 financial crisis, the Fed's monetary stimulus programs had the unintended effect of suspending the historically typical functioning of capital markets in terms of the productive and destructive uses of capital. Today, the fiscal climate is beginning to change. President and Co-Chief Investment Officer Chris Clark takes a look at what's happening in the current market and talks about why our discipline could be rewarded in the foreseeable future.

Great Expectations for Small-Cap Active Management
by Chuck Royce, Chris Clark, and Francis Gannon of The Royce Funds, 2/19/15
Widening credit spreads, increasing volatility, and decreasing stock correlation should allow stock pickers the chance to emerge as performance leaders. We continue to see good times ahead for active managers who focus on business fundamentals.

How Quality Can Lead in the Small-Cap Market
by Chris Clark and Chuck Royce of The Royce Funds, 9/15/14
While quantitative easing has allowed financially leveraged companies to improve their fiscal health over the past several years, Chuck Royce sees signs of small-cap leadership for quality moving forward.

2014's Market So Far
by Chris Clark and Chuck Royce of The Royce Funds, 8/26/14
During the March 4, 2014 interim high for small-caps into the middle of May, the Russell 2000 declined roughly 9.1%. Chief Executive Officer Chuck Royce talks with President Chris Clark about what he saw during this period and how this correction affected the performance of The Royce Funds.

Is the Improving Economy a Good Sign for Active Managers?
by Chuck Royce, Chris Clark, Francis Gannon of The Royce Funds, 8/11/14
There are still enough opportunities out there to keep returns in positive territory through the end of 2014. This could make the market's next act a very happy one for active small-cap managers.

Are Small-Caps Overvalued?
by Chris Clark and Chuck Royce of The Royce Funds, 8/5/14
President Chris Clark and Chief Executive Officer Chuck Royce respond to Fed Chairwoman Janet Yellen's comments on current small-cap valuations and overpriced sectors.

Why Have We Been Focusing on Cyclical Growth?
by Chris Clark and Chuck Royce of The Royce Funds, 7/22/14
Chuck Royce and Co-Chief Investment Officer Chris Clark talk about our attraction to economically sensitive sectors and what we've been learning from our meetings with companies.

How Operating Margins and Capital Allocation Affect Small-Caps
by Chris Clark and Chuck Royce of The Royce Funds, 7/15/14
Chuck Royce and Co-Chief Investment Officer Chris Clark talk about operating margins being at or near peak levels, increased M&A activity, and the absence of any real CAPEX activity.

Absolute Returns with Less Volatility: A Premise of Our Firm
by Chris Clark and Chuck Royce of The Royce Funds, 7/8/14
In stark contrast to last year's virtually correction-free bull market, 2014 has already seen two pullbacks large enough to give investors pause. Chuck Royce and Co-Chief Investment Officer Chris Clark discuss the current environment and how we as a firm have attempted to guard against the market's volatile behavior.

What Opportunities Do Active and Passive Strategies Provide in the Current Market?
by Chris Clark and Chuck Royce of The Royce Funds, 6/24/14
In the post financial-crisis period, there has been much debate over active versus passive strategies. Co-Chief Investment Officer Chris Clark and Chuck Royce discuss this topic, along with active management in the small-cap space, the characteristics of an actively managed portfolio versus those of an index-based portfolio, current small-cap opportunities, and the case for active management in today's environment.

Searching for Super Small-Cap Companies Through the Macro Noise
by Chris Clark of The Royce Funds, 6/20/13
While market pundits tell us to worry about everything from currency concerns and environmental challenges to the ongoing threat of nuclear assault and resource depletion, these ominous obstacles and the endless possibilities of their potential fallout have a tendency to draw attention away from what we believe really matters: the companies that have the ability to survive, adapt, and grow stronger in the wake of uncertainty.

The Real Debate: Preservation of Capital vs. Preservation of Purchasing Power
by Chris Clark of The Royce Funds, 3/16/12
Investments in high-quality companies that have embedded pricing power and high returns on their invested capital look to us to be some of the best investments to protect and grow purchasing power, and we believe they need much broader representation in investors' asset allocation. We think that the period of exclusively focusing on the preservation of capital has passed and that now is the time to be focused on the preservation of future purchasing power.
16 results found.