Royce Value Trust (NYSE: RVT) As Of June 30, 2012

Royce Value Trust, Inc. (NYSE: RVT):

Closing Prices – June 30, 2012
 

NAV

$

14.34

MKT

$

12.46

Total Return Performance
   

Periods ended June 30, 2012

NAV

MKT
 
Month* 2.49 % 0.11 %
Year to Date*

4.09

 
4.52
One-Year -11.17 -11.08
Three-Year Average Annual 16.41 17.49
Five-Year Average Annual -1.72 -4.18
10-Year Average Annual

6.53

5.04
 
*Not Annualized

Portfolio Diagnostics
 
 
Wtd. Average Geometric Mkt. Cap:

$

1334 million
Wtd. Average P/E Ratio: 14.6*
Wtd. Average P/B Ratio: 1.6x
Net Assets Applicable to Common Stock:

$

1212 million
Net Leverage: 12.3%

*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. Advisory Board (The) 1.2 %
2. Carter’s 1.1
3. Nordson Corp. 1.1
4. HEICO 1.0
5. Coherent 1.0
6. Mohawk Industries 1.0
7. MAXIMUS 1.0
8. Lincoln Electric Holdings 0.9
9. PAREXEL International 0.9
10. E-L Financial 0.8
 

Top Five Sectors

% of Net Assets
1. Industrials 28 %
2. Information Technology 22
3. Financials 21
4. Consumer Discretionary 15
5. Materials 9

Recent Developments

Royce Value Trust, Inc. (NYSE: RVT) paid a quarterly distribution of $0.19 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, was paid on June 25, 2012 to stockholders of record at the close of business on June 6, 2012 (ex-dividend on June 4, 2012). The price of shares issued for reinvestment was $12.18.

Royce Value Trust, Inc. paid a cash dividend of $0.36875 per share on its Cumulative Preferred Stock, based on an annual rate of 5.90% of the initial liquidation preference of $25.00 per share. The dividend was paid on June 25, 2012 to stockholders of record at the close of business on June 6, 2012 (ex-dividend on June 4, 2012).

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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