Latest Insights
Quality Small-Caps and the “Urge to Merge”
5 Factors That Can Drive Small-Cap Earnings Growth
Small-Cap Premier Quality Strategy: 4Q25 Update and Outlook
Royce Small-Cap Total Return: 4Q25 Update and Outlook
4Q25 Small-Cap Recap: Small-Caps Stay Positive, Micro-Caps Take the Lead
Annual Letter: When Will Small-Cap Reach the Summit?
Featured — CNBC Power Lunch
Francis Gannon on Small-Caps' Promising Earnings Picture
Discussion of small-cap earnings outlook and attractive opportunities in Industrials, Information Technology, and Financials sectors.
Our Funds
Open-End Funds
| Fund Name | Ticker | Category |
|---|---|---|
| International Premier | RIPNX | International Small-Cap |
| Micro-Cap | RYOTX | Micro-Cap |
| Premier | RYPRX | Small-Cap Core |
| Small-Cap | PENNX | Small-Cap Value |
| Small-Cap Opportunity | RYPNX | Small-Cap Value |
| Small-Cap Special Equity | RYSEX | Small-Cap Core |
| Small-Cap Total Return | RYTRX | Small-Cap Core |
| Small-Cap Value | RVVHX | Small-Cap Value |
| Smaller-Companies Growth | RVPHX | Small-Cap Growth |
| SMid-Cap Total Return | RDVIX | SMid-Cap Core |
Closed-End Funds
| Fund Name | Ticker | Exchange |
|---|---|---|
| Global Trust | XRGTX | NYSE |
| Micro-Cap Trust | XOTCX | NYSE |
| Small-Cap Trust | XRVTX | NYSE |
Annuity Portfolios
| Fund | Ticker |
|---|---|
| Capital Micro-Cap | RCMCX |
| Capital Small-Cap | RCPFX |
SMAs, CITs & ETFs
| Vehicle | Type |
|---|---|
| Small-Cap Premier Quality SMA | Sub-Advised |
| Small-Cap Quality Value SMA | Sub-Advised |
| Small-Cap CIT | CIT |
| Small-Cap Opportunity CIT | CIT |
| Small-Cap Total Return CIT | CIT |
| Quant Small-Cap Quality Value ETF | Sub-Advised ETF |
News
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Feb 2026
Francis Gannon on Small-Caps’ Promising Earnings Picture — CNBC Power Lunch
-
Feb 2026
Francis Gannon on Productivity Gains Driving Small-Cap Returns — SchwabNetwork.com
- Feb 2026
-
Jan 2026
Francis Gannon on BNN Bloomberg — Small-Cap Opportunities in Current Market
- Jan 2026
- Jan 2026
- Dec 2025
Small-Cap Specialists Since 1972
Our People
Experienced portfolio managers and analysts with decades of small-cap expertise.
Our Firm
A division of Franklin Templeton with a singular focus on small- and micro-cap equities.
Our Offerings
Open-end funds, closed-end funds, annuity portfolios, SMAs, CITs, and ETFs.
Our History
Founded in 1972, with a track record spanning every market cycle of the past five decades.
Francis Gannon
Co-Chief Investment Officer
Francis Gannon is Co-CIO of Royce Investment Partners and a frequent commentator on CNBC Power Lunch, BNN Bloomberg, and SchwabNetwork.com. He co-authors the firm's annual letter and leads market perspective research on small-cap earnings drivers, M&A activity, and the long-term case for small-cap equities.
Kavitha Venkatraman
Assistant Portfolio Manager
Kavitha Venkatraman brings 15 years of investment experience including 4 years at Royce Investment Partners. She serves as Assistant Portfolio Manager supporting research-driven small-cap strategies focused on identifying quality opportunities before they are widely recognized by the market.
Important Information
Information, statements, and opinions set forth herein are general in nature and should not be construed as investment advice. Opinions are subject to change based on market conditions. Investments in securities of small- and micro-cap companies may involve considerably more risk than investments in securities of larger-cap companies.
The performance data and trends outlined in this material are presented for illustrative purposes only. Past performance is no guarantee of future results. Investors should consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other information about the fund. Please read the prospectus carefully before investing.
Royce Fund Services, LLC, Distributor. Member FINRA / SIPC. Royce & Associates, LP is a registered investment adviser and a limited partnership, the general partner of which is a wholly owned subsidiary of Franklin Resources, Inc.
© 2026 Royce Investment Partners. All Rights Reserved.