Royce Global Value Returns -18.5% in 2011

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Royce Global Value Fund (RGV) seeks long-term growth of capital. Royce uses a disciplined value approach to invest primarily in the equity securities of both U.S. and non-U.S. companies—i.e., companies located outside of the United States—with market capitalizations up to $5 billion. We believe that investors in the Fund should have a long-term investment horizon of at least three years. Whitney George and David Nadel co-manage the Fund.

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