[0] Royce Value Trust as of December 31, 2001.Business Editors NEW YORK--(BUSINESS WIRE)--January 9, 2002
-- Oldest and largest small-cap closed-end fund
-- Average weekly trading volume of approximately 452,300 shares
-- Fund's adviser has more than 25 years of small- and micro-cap investment
experience
Closing Prices - December 31, 2001
NAV $17.31
MKT $15.72
Total Return Performance
Periods ended December 31, 2001 NAV MKT
--- ---
Fourth Quarter 21.50% 22.51%
One-Year 15.23 20.03
Three-Year Average Annual 14.48 15.92
Five-Year Average Annual 14.60 15.28
10-Year Average Annual 14.86 14.64
Portfolio Diagnostics
Median Market Cap: $586 million
Wtd. Average P/E Ratio: 17.6x(a)
Wtd. Average P/B Ratio: 1.5x
Wtd. Average Yield: 1.0%
Net Assets: $849 million
Net Leverage: 8%
(a) Excludes 24% of portfolio holdings with zero or negative
earnings as of 12/31/01.
Net leverage is the percentage, in excess of 100%, of the total
value of equity type investments, divided by net assets, excluding
preferred stock.
Portfolio Composition
Top 10 Positions % of Net Assets
---------------- ---------------
1. ProAssurance 1.1%
2. Charming Shoppes 1.0
3. White Mountains Insurance Group 0.9
4. Urban Outfitters 0.9
5. Avnet 0.9
6. American Management Systems 0.9
7. Arrow International 0.9
8. Thor Industries 0.8
9. Farmer Bros. 0.8
10. Simpson Manufacturing Co. 0.8
Top Five Industries % of Net Assets
------------------- ---------------
1. Technology 18%
2. Industrial Services 12
3. Industrial Products 11
4. Financial Intermediaries 10
5. Health 9
Recent Developments Royce Value Trust, Inc. (NYSE NYSE See: New York Stock Exchange -- RVT RVT Royce Value Trust RVT Registered Veterinary Technician RVT Registered Vascular Technologist (American Registry of Diagnostic Medical Sonographers) RVT RV Trader (recreational vehicles) ) paid a quarterly distribution of $0.37 per share on its Common Stock on December 24, 2001 to stockholders of record at the close of business on December 6, 2001 (ex-dividend on December 4, 2001). The price of shares issued for reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. , determined on December 13, 2001, was total distributions to Common Stockholders paid in 2001 were $1.49. Royce Value Trust, Inc. paid a cash dividend of $.45625 per share on its 7.30% Tax-Advantaged Cumulative Preferred Stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , and a cash dividend of $.4875 per share on its 7.80% Cumulative Preferred Stock on December 24, 2001, to stockholders of record at the close of business on December 6, 2001 (ex-dividend December 4, 2001). For Federal income tax purposes, 3.09% of the distributions paid to stockholders in 2001 will be reported as net investment income, 20.94% will be reported as net short-term capital gains Short-term capital gain A profit on the sale of a security or mutual fund share that has been held for one year or less. A short-term capital gain is taxed as ordinary income. and 75.97% will be reported as net long-term capital gains Long-term capital gain A profit on the sale of a security or mutual fund share that has been held for more than one year. . Royce Value Trust, Inc. is a closed-end diversified management investment company whose shares of Common (NYSE - RVT) and Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. (RVTp and RVTpra) are listed and traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Its primary investment objective is long-term capital appreciation, which it seeks by normally investing more than 75% of its assets in equity securities of small capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. companies. Daily net asset values (NAVs) for Royce Value Trust are now available on our website and online through most ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors lookup A data search performed within a predefined table of values (array, matrix, etc.) or within a data file. services and on broker terminals under the symbol XRVTX. For more information, please call The Royce Funds at (800) 221-4268, e-mail us at funds@roycenet.com or visit our website at www.roycefunds.com |
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