 Royce Focus Trust Announces Performance Data &
Portfolio Composition as of September 30, 2009
Royce & Associates, Inc.
New York, October 14, 2009 -- Royce Focus Trust (FUND)
-- Invests in a limited number of small-cap companies using a value approach
-- Average weekly trading volume of approximately 194,000 shares
-- Fund's adviser has more than 35 years of small- and micro-cap investment experience
Closing Prices - September 30, 2009
NAV $ 6.68
MKT $ 5.93
Total Return Performance
| Periods ended September 30, 2009 |
NAV |
MKT |
| 1 Month* |
9.33% |
9.61% |
| Year to Date* |
43.63 |
31.94 |
| One-Year |
-0.12 |
-17.73 |
| Three-Year Average Annual |
0.88 |
-4.20 |
| Five-Year Average Annual |
6.52 |
5.11 |
| 10-Year Average Annual |
11.59 |
12.16 |
*Not Annualized
Portfolio Diagnostics
| Wtd. Average Market Cap: |
$13,777 million |
| Wtd. Average P/E Ratio: |
17.0x* |
| Wtd. Average P/B Ratio: |
2.2x |
| Wtd. Average Portfolio Yield: |
1.5% |
| Net Assets Attributable to Common Stock: |
$157 million |
| Net Leverage: |
1% |
* The Fund's P/E ratio calculation excludes companies with zero or negative earnings.
Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets, applicable to common stock.
Portfolio Composition
| Top 10 Positions |
% of Net Assets |
| 1. Kennedy-Wilson Conv. |
6.0% |
| 2. Buckle (The) |
3.1 |
| 3. Knight Capital Group Cl. A |
3.0 |
| 4. Reliance Steel & Aluminum |
2.9 |
| 5. Unit Corp. |
2.8 |
| 6. Trican Well Service |
2.8 |
| 7. Silver Standard Resources |
2.4 |
| 8. Ivanhoe Mines |
2.4 |
| 9. Franklin Resources |
2.3 |
| 10. Sanderson Farms |
2.3 |
| Top Five Industries |
% of Net Assets |
| 1. Natural Resources |
28% |
| 2. Industrials Products |
24 |
| 3. Consumer Products |
10 |
| 4. Financial Services |
8 |
| 5. Technology |
8 |
Recent Developments
Royce Focus Trust, Inc. declared a cash dividend of $0.375 per share on its Cumulative Preferred Stock, based on an annual rate of 6.00% of the initial liquidation preference of $25.00 per share. The dividend was paid on September 23, 2009 to stockholders of record at the close of business on September 8, 2009 (ex-dividend September 3, 2009).
Royce Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq National Market (Nasdaq - FUND) and whose shares of 6.00% Cumulative Preferred Stock are listed and traded on the NYSE (RFO.pra). The Fund's investment goal is long-term capital growth, which it seeks by normally investing as least 75% of its assets in equity securities.
Daily net asset values (NAVs) for Royce Focus Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XFUNX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com.
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