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Royce Global Trust: A Deep Dive into Investment Performance

As of June 30, 2025, the Royce Global Trust (NYSE: RGT) is a notable player in the realm of closed-end funds, focusing on investing in global equities. This fund demonstrates a disciplined value investment approach, ensuring investors can benefit from strategic allocations across various sectors.

Fund Overview

Royce Global Trust operates under a fundamental investment philosophy that leans heavily on value evaluation. With an average weekly trading volume of approximately 64,166 shares, the fund exemplifies active trading and robust liquidity. The trust primarily invests in small-cap and mid-cap companies, which aligns with its strategy of capital growth through investments in undervalued stocks.

As presented in the latest reports, the net asset value (NAV) of the fund as of June 30, 2025, stands at $14.23, while its market price trades at $12.03. These figures highlight an interesting dynamic of market perception versus calculated intrinsic value.

Performance Metrics

When analyzing the average annual total returns for Royce Global Trust, the data reveals an encouraging upward trend:

• - One-Month Return: NAV 5.64%, MKT 4.83%
• - Year to Date Return: NAV 13.39%, MKT 12.20%
• - One-Year Return: NAV 18.38%, MKT 12.95%
• - Three-Year Return: NAV 14.71%, MKT 13.23%
• - Five-Year Return: NAV 9.95%, MKT 8.25%
• - 10-Year Return: NAV 8.16%, MKT 8.10%

These figures indicate that the fund's performance has been resilient, particularly with a one-year return on NAV significantly outpacing the market return. The fund’s strategy to focus on substantial long-term capital appreciation has paid dividends for investors.

Portfolio Composition

The portfolio of Royce Global Trust showcases a diversified approach, essential for mitigating risks in investment. The average market capitalization across the fund's holdings is approximately $2.9 billion with a weighted average P/E of 25.5x and a weighted average P/B of 2.9x.

Top Ten Holdings by Net Assets (Subject to Change)

1. Tel Aviv Stock Exchange — 3.9%
2. Sprott — 3.4%
3. Protector Forsikring — 2.9%
4. Alamos Gold Cl. A — 2.7%
5. SEI Investments — 2.7%
6. APi Group — 2.3%
7. TMX Group — 2.2%
8. Stadio Holdings — 2.0%
9. Karnov Group — 1.8%
10. OEM International Cl. B — 1.7%

Sector Allocation

The fund’s sector allocation further emphasizes its strategic aims:

• - Financials: 29.2%
• - Industrials: 27.7%
• - Information Technology: 11.9%
• - Materials: 10.5%
• - Cash and Cash Equivalents: 5.3%

This diversification across various sectors displays an intention to capitalize on growth opportunities while managing risk effectively.

Future Projections and Considerations

Management, led by Royce Associates, LP, boasts more than 50 years of experience in small- and micro-cap investments. Their substantial knowledge aids in navigating the sometimes volatile nature of small-cap investments.

Importantly, Royce Global Trust has set a long-term objective of capital growth. Under typical market conditions, at least 80% of its net assets are expected to be invested in equity securities, including a commitment to invest at least 65% in firms outside the U.S. This strategy opens doors to a globally diversified investment landscape while capitalizing on opportunities present in different markets.

Investors should remain aware of the potential risks associated with closed-end funds, including the possibility of trading at a discount to net asset value. The shares may also fluctuate significantly relative to their underlying securities, which underscores the importance of conducting thorough due diligence before investment.

For anyone seeking to explore investment opportunities in global equities with a value orientation, the Royce Global Trust, with its impressive historical performance metrics and strategic sector exposure, could be an intriguing option. For detailed inquiries, potential investors can access their website or contact them directly for the most current information and performance analytics.