The Board of Trustees of The Royce Fund has approved name and non-fundamental investment policy changes for Royce Smaller-Companies Growth Fund. The Fund’s new name—Royce Small-Cap Growth Fund—will become effective as of September 30, 2026.

As of September 30, 2026, the Fund will invest at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Small-cap companies are those that have a stock market capitalization that is not greater than that of the largest company in the Russell 2000® Index at the time of its most recent reconstitution—which was $13.4 billion in June 2026.

Under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities of small-cap companies. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations.

These changes will better align the Fund’s name and investment policies with its primary investment focus. The Fund’s investment goal of long-term growth of capital will not be changing. No assurance can be given, however, that these changes will result in the Fund being successful or that the Fund will achieve its investment goals.

James A. (Chip) Skinner III remains the Fund’s portfolio manager.

Learn more about the Fund.