 Royce Value Trust Announces Performance Data &
Portfolio Composition as of November 30, 2009
Royce & Associates, Inc.
New York, December 16, 2009 -- Royce Value Trust (RVT)
-- Oldest and largest small-cap closed-end fund
-- Average weekly trading volume of approximately 341,000 shares
-- Fund's adviser has more than 35 years of small- and micro-cap investment experience
Closing Prices - November 30, 2009
NAV $ 12.12
MKT $ 9.98
Total Return Performance
| Periods ended November 30, 2009 |
NAV |
MKT |
| 1 Month* |
4.13% |
3.10% |
| Year to Date* |
36.06 |
25.22 |
| One-Year |
45.89 |
38.27 |
| Three-Year Average Annual |
-7.79 |
-15.48 |
| Five-Year Average Annual |
0.76 |
-4.37 |
| 10-Year Average Annual |
7.72 |
7.24 |
*Not Annualized
Portfolio Diagnostics
| Wtd. Average Market Cap: |
$1661 million |
| Wtd. Average P/E Ratio: |
18.7* |
| Wtd. Average P/B Ratio: |
1.7x |
| Net Assets Attributable to Common Stock: |
$1019 million |
| Net Leverage: |
19.5% |
* 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. Ashgrove Cement Cl. B |
1.0% |
| 2. Ritchie Bros. Auctioneers |
1.0 |
| 3. SEACOR Holdings |
1.0 |
| 4. Simpson Manufacturing |
0.9 |
| 5. Alleghany Corp. |
0.9 |
| 6. Reliance Steel & Aluminum |
0.9 |
| 7. AllianceBernstein Holding L.P. |
0.9 |
| 8. Sotheby's |
0.9 |
| 9. Oil States Internation |
0.9 |
| 10. Patriot Transportation Holding |
0.8 |
| Top Five Industries |
% of Net Assets |
| 1. Industrial Products |
23% |
| 2. Technology |
21 |
| 3. Industrial Services |
18 |
| 4. Financial Services |
14 |
| 5. Financial Intermediaries |
13 |
Recent Developments
Royce Value Trust, Inc. has declared a cash dividend of $0.36875 per share on its Cumulative Preferred Stock, based on an annual rate of 5.90% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on December 23, 2009 to stockholders of record at the close of business on December 7, 2009 (ex-dividend on December 3, 2009).
Royce Value Trust is a closed-end diversified management investment company whose shares of Common (RVT) and 5.90% Cumulative Preferred Stock (RVTprb) are listed and traded on the New York Stock Exchange. Its primary investment goal is long-term capital growth, which it seeks by investing at least 75% of its assets in equity securities primarily of small- and micro-cap companies.
Daily net asset values (NAVs) for Royce Value Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XRVTX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com.
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