The Royce Funds have a long and distinguished record of investing in small, undervalued U.S. companies. The firm's oldest fund, Pennsylvania Mutual, dates to 1962. But although Royce managers have been dabbling in foreign stocks for about a decade, they didn't start a fund dedicated to global markets until 2005. In 2007, the firm launched Royce Global Value (symbol RIVFX).
Managers Whitney George and David Nadel like specialized firms with strong management teams and little debt. "Niche businesses have fewer competitors, more pricing power and higher profitability than other businesses," says Nadel.
The fund's biggest position at last report was Major Drilling Group, a Canadian company that provides drilling services for miners worldwide. The firm is benefiting from growing demand for precious and industrial metals. Moreover, its ability to cut costs quickly and remain profitable during the recent recession impressed the Royce managers. George and Nadel also like Semperit, a 186-year-old Austrian company that makes specialized rubber products, such as escalator hand rails, and was early to move its production to low-cost Thailand.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Global Value has just 15% of assets in U.S. stocks because the managers worry about the financial health of American consumers. Many of its U.S. holdings -- such as GrafTech International, which makes graphite electrodes, a key component in furnaces for producing steel -- derive a big portion of sales from exports.
-
Stock Market Today: Stocks Rally Despite Rising Geopolitical TensionThe main indexes were mixed on Tuesday but closed well off their lows after an early flight to safety.
-
What's at Stake for Alphabet as DOJ Eyes Google's ChromeAlphabet is higher Tuesday even as antitrust officials at the DOJ support forcing Google to sell its popular web browser. Here's what you need to know.
-
Best Banks for High-Net-Worth Clients 2024wealth management These banks welcome customers who keep high balances in deposit and investment accounts, showering them with fee breaks and access to financial-planning services.
-
Stock Market Holidays in 2024: NYSE, NASDAQ and Wall Street HolidaysMarkets When are the stock market holidays? Here, we look at which days the NYSE, Nasdaq and bond markets are off in 2024.
-
Stock Market Trading Hours: What Time Is the Stock Market Open Today?Markets When does the market open? While the stock market does have regular hours, trading doesn't necessarily stop when the major exchanges close.
-
Bogleheads Stay the CourseBears and market volatility don’t scare these die-hard Vanguard investors.
-
The Current I-Bond Rate Until May Is Mildly Attractive. Here's Why.Investing for Income The current I-bond rate is active until November 2024 and presents an attractive value, if not as attractive as in the recent past.
-
What Are I-Bonds? Inflation Made Them Popular. What Now?savings bonds Inflation has made Series I savings bonds, known as I-bonds, enormously popular with risk-averse investors. So how do they work?
-
This New Sustainable ETF’s Pitch? Give Back Profits.investing Newday’s ETF partners with UNICEF and other groups.
-
As the Market Falls, New Retirees Need a Planretirement If you’re in the early stages of your retirement, you’re likely in a rough spot watching your portfolio shrink. We have some strategies to make the best of things.
