Royce Value Trust, Inc. (NYSE:RVT)

Closing Prices – October 31, 2011
NAV     $ 14.76
MKT $ 12.68
Total Return Performance            

Periods ended October 31, 2011
NAV MKT
 
Month* 16.86% 14.44%
Year to Date* -7.93 -8.99
One-Year 2.85 4.18
Three-Year Average Annual 17.72 15.02
Five-Year Average Annual 0.45 -3.13
10-Year Average Annual 7.78 7.25
 
*Not Annualized
Portfolio Diagnostics  
 
Wtd. Average Geometric Mkt. Cap: $1314 million
Wtd. Average P/E Ratio: 14.4*
Wtd. Average P/B Ratio: 1.4x
Net Assets Applicable to Common Stock:

$1217 million
Net Leverage: 13.9%

*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, Inc. 1.2%
2. HEICO Corp. 1.2
3. Alleghany Corp. 1.1
4. Oil States International 1.1
5. Nordson Corp. 0.9
6. Carter’s 0.9
7. Sapient Corp. 0.9
8. Lazard Cl. A 0.8
9. Rofin-Sinar Technologies 0.8
10. Cognex Corp. 0.8
 
Top Five Sectors % of Net Assets
1. Industrials 28%
2. Information Technology 23
3. Financials 22
4. Consumer Discretionary 13
5. Materials 11

Recent Developments

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

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