Royce Value Trust (NYSE: RVT)

Closing Prices – April 30, 2011
   
 
NAV $18.42
MKT $15.85
 

Total Return Performance

Periods ended April 30, 2011

NAV

MKT
 
Month* 2.96% 2.99%
Year to Date* 11.44 10.34
One-Year 27.45 27.70
Three-Year Average Annual 7.34 3.93
Five-Year Average Annual 4.40 1.42
10-Year Average Annual 9.34 8.84
 
*Not Annualized
 

Portfolio Diagnostics
 
Wtd. Average Geometric Mkt. Cap: $1535 million
Wtd. Average P/E Ratio: 17.4*
Wtd. Average P/B Ratio: 2.1x
Net Assets Applicable to Common Stock: $1445 million
Net Leverage: 7.6 %
 

*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. Coherent 1.2%
2. Oil States International 1.1
3. Rofin-Sinar Technologies 1.0
4. Nordson Corp. 0.9
5. HEICO Corp. 0.9
6. Tejon Ranch 0.9
7. Ritchie Bros. Auctioneers 0.9
8. Newport Corp. 0.8
9. Alleghany Corp. 0.8
10. Sapient Corp. 0.8
 

Top Five Sectors

% of Net Assets
1. Industrials 26%
2. Financials 21
3. Information Technology 20
4. Consumer Discretionary 12
5. Materials 10

Recent Developments

Royce Value Trust, Inc. paid a cash dividend of $0.375 per share on its Cumulative Preferred Stock on March 23, 2011 to stockholders of record at the close of business on March 7, 2011 (ex-dividend March 3, 2011).

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 65% 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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