$TINA

The Royce Small-Cap Trust's FY 2025 commentary indicates a cautiously optimistic outlook for small-cap stocks amid ongoing economic uncertainties. The trust's management highlighted strong performance in certain sectors, suggesting potential for continued growth. However, they acknowledged risks from inflation and interest rate pressures that could impact smaller companies. Additionally, diversification strategies within the fund aim to mitigate these risks while capitalizing on market opportunities. Overall, the commentary suggests a balanced approach, focusing on both growth and defensive positions.