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

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

Closing Prices – October 31, 2012
 
NAV $14.86
MKT $13.02

Total Return Performance
       

Periods ended October 31, 2012

NAV

MKT
 
Month* -0.07% -0.38%
Year to Date* 9.34 10.71
One-Year 6.80 8.93
Three-Year Average Annual 12.34 14.28
Five-Year Average Annual -1.12 -1.34
10-Year Average Annual 9.21 7.32
 
*Not Annualized

Portfolio Diagnostics
 
 
Wtd. Average Geometric Mkt. Cap: $1373 million
Wtd. Average P/E Ratio: 14.7*
Wtd. Average P/B Ratio: 1.6x
Net Assets Applicable to Common Stock: $1256 million
Net Leverage: 7.2 %
 

*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. Mohawk Industries 1.2%
2. Advisory Board (The) 1.1
3. Carter’s 1.0
4. Ethan Allen Interiors 1.0
5. HEICO Corp. 1.0
6. Nordson Corp. 1.0
7. Coherent 0.9
8. Lincoln Electric Holdings 0.9
9. PAREXEL International 0.9
10. Lazard Cl. A 0.9
 

Top Five Sectors

% of Net Assets
1. Industrials 29%
2. Information Technology 20
3. Financials 19
4. Consumer Discretionary 15
5. Materials 9

Recent Developments

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.

The Board of Directors Royce Value Trust, Inc. has approved the redemption of all of the Fund’s outstanding 5.90% Cumulative Preferred Stock on November 15, 2012. A senior secured credit facility provided by a financial institution will be used to redeem and replace a portion of the outstanding Preferred Shares.

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.

Copyright Business Wire 2010

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