Legg Mason leverages off Royce's small-cap expertise

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Chuck Royce's small-cap-focused US firm has track record spanning four decades.

Royce & Associates has four decades of experience in US small-cap investing, giving the firm an obvious advantage in this competitive space. Co-CIO and company founder Chuck Royce is among the pioneers of smaller companies investment, developing his style at the home of value management, Colombia Business School. His firm has been a wholly owned subsidiary of Legg Mason since 2001 and retains its small-cap focus, with 95% of assets still at this end of the market. Manager of the Legg Mason US Smaller Companies fund, Lauren Romeo, highlights the company’s long-term investment strate...

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