Royce Value Trust (NYSE: RVT):
|Closing Prices – June 30, 2011|
|Total Return Performance|
|Periods ended June 30, 2011||NAV||MKT|
|Year to Date*||5.39||5.25|
|Three-Year Average Annual||6.92||3.70|
|Five-Year Average Annual||4.33||1.88|
|10-Year Average Annual||7.78||7.54|
|Wtd. Average Geometric Mkt. Cap:||$1476 million|
|Wtd. Average P/E Ratio:||16.3*|
|Wtd. Average P/B Ratio:||1.9x|
|Net Assets Applicable to Common Stock:||$1371 million|
|*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.|
|Top 10 Positions||% of Net Assets|
|2.||Oil States International||1.1|
|9.||Ritchie Bros. Auctioneers||0.8|
|10.||Reliance Steel & Aluminum||0.8|
|Top Five Sectors||% of Net Assets|
The Board of Directors of Royce Value Trust, Inc. ("RVT") (NYSE:RVT) has approved, subject to shareholder and other regulatory approvals, the contribution of a portion of RVT's assets to a newly formed non-diversified, closed-end investment company, Royce Global Value Trust, Inc. ("RGT"). All of RGT's common stock would then be distributed to the common stockholders of RVT.
RVT would contribute to RGT approximately $100 million of its cash and/or securities and would then distribute all of the shares of RGT common stock pro rata to the common stockholders of RVT. RGT will seek to have its shares listed on the New York Stock Exchange. The transaction is expected to be voted upon at a Special Meeting of RVT's stockholders to be held once RVT has obtained certain regulatory approvals from the SEC.
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