NEW YORK--(BUSINESS WIRE)--In December, Royce Focus Trust’s Board of Directors will meet to consider approving a new Investment Advisory Agreement for Royce Focus Trust (Nasdaq: FUND) with Sprott Asset Management, a Toronto-based alternative asset manager. Approval would enable W. Whitney George to continue managing the portfolio following his departure from Royce & Associates, LLC (“Royce”), the Fund’s investment adviser. The Fund would then seek stockholder approval of the new Agreement. During this transition, Mr. George will continue as an employee of Royce and as the Fund’s portfolio manager.
About Royce Focus Trust, Inc.
Royce Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq National Market. The Fund's investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities.
About Royce & Associates, LLC
For more than 40 years Royce & Associates, LLC has used a disciplined, value-oriented approach to select micro-cap, small-cap, and mid-cap companies. We have a seasoned staff of investment professionals, most with more than 15 years of experience. Mr. Royce, the firm’s founder and a pioneer of small-cap investing, enjoys one of the longest tenures of any mutual fund manager.
About Sprott Asset Management
Sprott Asset Management is a Toronto-based alternative asset manager.