Royce Micro-Cap Trust (NYSE: RMT) as of May 31, 2012
Closing Prices – May 31, 2012 | |
| NAV | $9.89 |
| MKT | $8.69 |
Total Return Performance | ||||||||||
Periods ended May 31, 2012 | NAV | MKT | ||||||||
| 1 Month* | -7.83% | -7.75% | ||||||||
| Year to Date* | 1.70 | 0.47 | ||||||||
| One-Year | -9.97 | -8.52 | ||||||||
| Three-Year Average Annual | 16.05 | 17.60 | ||||||||
| Five-Year Average Annual | -2.42 | -5.05 | ||||||||
| 10-Year Average Annual | 6.23 | 5.53 | ||||||||
*Not annualized | ||||||||||
Portfolio Diagnostics | |||||
| Wtd Average Geometric Market Cap: | $306 million | ||||
| Wtd. Average P/E Ratio: | 15.1x* | ||||
| Wtd. Average P/B Ratio: | 1.3x | ||||
| Net Assets Applicable to Common Stock: | $343 million | ||||
| Net Leverage: | 6.3% | ||||
*Excludes 21% of portfolio holdings with zero or negative earnings as of 5/31/12.
Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets applicable to common stock.
Portfolio Composition | |
Top 10 Positions | % of Net Assets |
| 1. Kennedy-Wilson Holdings | 2.1% |
| 2. Epoch Holding Corp. | 1.6 |
| 3. Advisory Board (The) | 1.4 |
| 4. America’s Car-Mart | 1.4 |
| 5. Tennant Co. | 1.4 |
| 6. Raven Industries | 1.4 |
| 7. Sapient Corp. | 1.4 |
| 8. Integrated Electrical Services | 1.3 |
| 9. Flexsteel Industries | 1.2 |
| 10. Quaker Chemical | 1.1 |
Top Five Sectors | % of Net Assets |
| 1. Industrials | 28% |
| 2. Financials | 21 |
| 3. Information Technology | 20 |
| 4. Consumer Discretionary | 13 |
| 5. Materials | 8 |
Recent Developments
Royce Micro-Cap Trust, Inc. (NYSE-RMT) has declared a quarterly distribution of $0.13 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on June 25, 2012 to stockholders of record at the close of business on June 6, 2012 (ex-dividend on June 4, 2012). The price of shares issued for reinvestment was $8.61.
Royce Micro-Cap Trust, Inc. has declared a cash dividend of $0.375 per share on its Cumulative Preferred Stock, based on an annual rate of 6.00% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on June 25, 2012 to stockholders of record at the close of business on June 6, 2012 (ex-dividend on June 4, 2012).
Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) and 6.00% Cumulative Preferred Stock (RMTpra) are listed and traded on the New York Stock Exchange. The Fund’s investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalization of $500 million or less.
Daily net asset values (NAVs) for Royce Micro-Cap Trust, Inc. are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XOTCX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com
John D. Diederich, 212-355-7311