Royce Value Trust (NYSE: RVT) As Of  January 31, 2012

Royce Value Trust (NYSE: RVT):
 

Closing Prices – January 31, 2012
     

NAV

$15.49

MKT

$13.46
 
       

Total Return Performance

Periods ended January 31, 2012

NAV

MKT
 

Month*

9.24

%

9.70

%

Year to Date*

9.24

9.70

One-Year

-2.22

-0.82

Three-Year Average Annual

27.79

24.81

Five-Year Average Annual

0.71

-3.45

10-Year Average Annual

6.83

6.54
 
*Not Annualized
 
   

Portfolio Diagnostics
 
Wtd. Average Geometric Mkt. Cap: $1408 million
Wtd. Average P/E Ratio: 15.1*
Wtd. Average P/B Ratio: 1.7x
Net Assets Applicable to Common Stock: $1276 million
Net Leverage: 13.4 %
 

*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. HEICO Corp. 1.1
4. Alleghany Corp. 1.0
5. Carter’s

 0.9

 
6. Cognex Corp. 0.9
7. Advisory Board (The) 0.9
8. Woodward 0.9
9. Newport Corp. 0.9
10. Nordson Corp. 0.9
 

Top Five Sectors

% of Net Assets
1. Industrials 28%
2. Information Technology

24
3. Financials 21
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%.

The Board of Directors of Royce Value Trust, Inc. has approved, subject to stockholder and other regulatory approvals, the contribution of approximately $100 million 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. There is no assurance that necessary stockholder and regulatory approvals will be obtained.

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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