Royce Focus Trust (NASDAQ: FUND) As Of November 30, 2012

Royce Focus Trust, Inc. (Nasdaq: FUND):

Closing Prices – November 30, 2012
 
NAV   $7.64  
MKT $6.75
 

Total Return Performance

Periods ended November 30, 2012
    NAV     MKT
 
1 Month*

-0.39

%

1.35

%
Year to Date* 8.34 11.81
One-Year 4.30 8.29
Three-Year Average Annual 7.63 8.49
Five-Year Average Annual 1.09 -3.21
Ten-Year Average Annual 11.67 11.37
 

*Not Annualized
 

Portfolio Diagnostics
   
Wtd. Average Geometric Market Cap

$5343

million
Wtd. Average P/E Ratio: 13.7x*
Wtd. Average P/B Ratio: 1.8x*
Net Assets Applicable to Common Stock:

$160

million
Net Leverage: 0.0%
 

*The Funds’ P/E ratio calculations exclude 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. Microsoft

3.3

%
2. Berkshire Hathaway Cl. B 3.3
3. Franklin Resources 3.3
4. Analog Devices 3.3
5. Buckle (The) 3.2
6. Western Digital Corp. 3.1
7. Exxon Mobil 3.0
8. Mosaic Company (The) 2.9
9. Helmerich & Payne 2.8
10. Allied Nevada Gold 2.4
 
 

Top Five Sectors

% of Net Assets
1. Materials

30

%
2. Information Technology 17
3. Financials 16
4. Energy 13
5. Consumer Discretionary 7
 

Recent Developments

Royce Focus Trust, Inc. (Nasdaq - FUND) has declared a distribution of $0.17 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 24, 2012 to stockholders of record at the close of business on December 6, 2012 (ex-dividend on December 4, 2012). The price of shares issued for reinvestment on December 13, 2012 was $6.59.

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