NEW YORK--(BUSINESS WIRE)--On July 1, 2014, Co-Chief Investment Officer Christopher D. Clark will become president of Royce & Associates, LLC, investment adviser to The Royce Funds, while Charles M. Royce will become chairman and chief executive officer.
Mr. Royce has been the firm’s president since founding the firm in 1972. Mr. Clark has served in senior-level investment and portfolio management roles at Royce since joining in 2007. He has more than 25 years of investment industry experience. Mr. Clark has served on the firm’s Management Committee since its inception and became co-chief investment officer, along with Francis Gannon, in January 2014.
Mr. Royce said, “Over the past year, we have purposely expanded our leadership team with the intent to provide a strong and stable future for Royce and its investors. Chris has made important contributions since joining Royce and has been an integral member of the firm’s senior leadership team. As president, he will help steward the firm, allowing us to serve our investors in a way that is true to the investment culture we have so carefully fostered over the last four decades.
“In his new role, Chris is joined by a strong team of next-generation leaders in our core areas that will enable Royce to maintain its reputation in the marketplace. In addition, we have a very talented and experienced group of more than 30 investment professionals who will continue to strive for investment excellence across our various small-cap franchises. I have great confidence in the continued success of an enterprise that I have been privileged to lead since 1972. I look forward to working closely with Chris in his new role as president of Royce & Associates.”
Mr. Clark commented, “I look forward to helping the firm continue its long history of success. As stewards of our firm’s legacy and custodians of its future, all of us here at Royce play an important role in creating a collaborative culture that benefits our investors. This has always been our goal, which remains as clear today as it did when the firm began.”
For more than 40 years, Royce & Associates, investment adviser to The Royce Funds, has been investing in mutual fund portfolios with a disciplined value approach. Mr. Royce is known as a pioneer of small-cap investing and enjoys one of the longest tenures of any mutual fund manager.
For any inquiries, please contact Dave Gruber at 1-800-337-6923.
