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Royce Micro-Cap Trust (NYSE: RMT) As Of September 30, 2011

Royce Micro-Cap Trust (NYSE: RMT) as of September 30, 2011

  • Only micro-cap closed-end fund
  • Average weekly trading volume of approximately 281,000 shares
  • Fund’s adviser has more than 35 years of small- and micro-cap investment experience

Closing Prices – September 30, 2011

   
 
NAV $ 8.87
MKT $ 7.64
 

Total Return Performance

Periods ended September 30, 2011

NAV

MKT

 
1 Month* -12.07% -12.89%
Year to Date* -18.32 -18.59
One-Year -3.90 -2.71
Three-Year Average Annual 0.65 0.59
Five-Year Average Annual -1.46 -5.24
10-Year Average Annual 8.03 8.19
 
*Not annualized
 

Portfolio Diagnostics

 
Wtd Average Geometric Market Cap: $262 million
Wtd. Average P/E Ratio: 14.1x*
Wtd. Average P/B Ratio: 1.2x
Net Assets Applicable to Common Stock: $309 million
Net Leverage: 10.0%
 

*Excludes 21% of portfolio holdings with zero or negative earnings as of 9/30/11.

 

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 Holdings 2.6%
2. Sapient Corporation 1.9
3. Richardson Electronics 1.8
4. Tennant Company 1.7
5. Raven Industries 1.5
6. Seneca Foods Cl. B 1.4
7. America’s Car-Mart, Inc. 1.4
8. Drew Industries 1.4
9. Advisory Board (The) 1.4
10. Epoch Holding Corp. 1.4
 

Top Five Sectors

% of Net Assets

1. Industrials 35%
2. Information Technology 30
3. Financials 29
4. Consumer Discretionary 18
5. Materials 13

Recent Developments

Royce Micro-Cap Trust, Inc. (NYSE-RMT) declared a quarterly distribution of $0.14 per share on its Common Stock. The price of shares issued for reinvestment was determined on September 13, 2011. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, was paid on September 23, 2011 to stockholders of record at the close of business on September 6, 2011.

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