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.

Royce Micro-Cap 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, 2011 to stockholders of record at the close of business on September 6, 2011 (ex-dividend on September 1, 2011).

Royce Micro-Cap Trust (NYSE: RMT) resumed a quarterly distribution policy for Common Stockholders, beginning in March 2011, at the annual rate of 5%.

Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) and 6.00% Cumulative Preferred Stock (RMTpra) are listed and traded on the New York Stock Exchange. The Fund’s investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalization of $500 million or less.

Daily net asset values (NAVs) for Royce Micro-Cap Trust, Inc. are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XOTCX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com

Copyright Business Wire 2010

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