$RVT

The Royce Small-Cap Value Fund's performance in FY 2025 showcases a mixed bag of results, with certain sectors appreciating while others declined. Key drivers included strong contributions from particular small-cap sectors that excelled during the year, while challenges arose from broader market volatility and inflation pressures. Investors are advised to take note of the contrasts in performance across sectors, as certain small-cap stocks outperformed expectations, highlighting potential investment opportunities. Conversely, some holdings faced setbacks, directing attention away from these laggards. Overall, the report reinforces the ongoing appeal of small-cap value investments amidst fluctuating market conditions.