The ongoing European debt crisis, the fragile U.S. economy and a slowdown in China all are helping to drive continued stock market volatility, Chuck Royce, the chief investment officer at The Royce Funds, said in his second-quarter commentary. To read the full commentary, click here.
The Royce Low-Priced Stock Fund declined 11.2 percent in the second quarter, well below the 3.4 percent decline of the benchmark Russell 2000. For the first six months of 2012, the fund is down 1 percent vs. the Russell 2000's gain of 8.5 percent.
Whitney George, the fund's portfolio manager, said the current range-bound market and political uncertainty have played a role in the fund's disappointing performance. To read his full second-quarter commentary, click here.
Royce Low-Priced Stock is a component of the Bradway Strategic Portfolio, which consists primarily of investments with top money managers.
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