RGFIX — Royce Global Financial Services Fund
Data updated: 2024-08-12
RGFIX — Royce Global Financial Services Fund. Global (incl. US) Multi-Cap / All-Cap Value Financials Equity. Holdings, fees, performance and SEC filings.
RGFIX Fund Overview
RGFIX — Royce Global Financial Services Fund is a US mutual fund managed by Royce Fund, categorised as Global (incl. US) Multi-Cap / All-Cap Value Financials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Royce Fund
- Category: Global (incl. US) Multi-Cap / All-Cap Value Financials Equity
- Assets under management: $29.04M
- 1-year return: 22.0%
- Ticker: RGFIX
- SEC CIK: 0000709364
- SEC series ID: S000009521
- Share class ID: C000164680
RGFIX Investment Objective and Strategy
Royce Global Financial Services Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Royce Fund.
Investment objective
Royce Global Financial Services Funds investment goal is long-term growth of capital.
Principal investment strategy
Royce & Associates, LP (Royce), the Funds investment adviser, invests the Funds assets primarily in equity securities of companies that are principally engaged in the financial services industry. Examples of such companies include: commercial and industrial banks, savings and loan associations, companies engaged in consumer and industrial finance, insurance, securities brokerage and investment management, real estate investment trusts, real estate management and development companies, other financial intermediaries, and firms that primarily serve the financial services industry. Royce seeks to invest in securities that are trading below its estimate of their current worth. Royce focuses on companies that it believes have strong balance sheets, other business strengths, and/or strong business prospects.
Royce also considers companies with the potential for improvement in cash flow levels and internal rates of return. Although the Fund normally focuses on securities of financial services companies with stock market capitalizations up to $5 billion, it may invest an equal or greater percentage of its assets in securities of companies with larger market capitalizations. Under normal market circumstances, the Fund will invest at least 40% of its net assets in equity securities of companies headquartered in at least three different countries outside of the United States. During periods when market conditions are not deemed favorable by Royce, the Fund will invest at least 30% of its net assets in such companies. As a result, a substantial portion of the Funds assets may be invested in companies that are headquartered in a single country or in a limited number of countries.
While the Fund anticipates that its investment in foreign securities will generally be in securities of companies that are headquartered in developed countries, the Fund may also invest up to 10% of its net assets in securities of companies that are headquartered in developing countries. Developing countries, sometimes also referred to as emerging markets countries, include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, and Western European countries (as defined in the Funds Statement of Additional Information). In selecting securities for the Fund, Royce uses a bottom-up, value approach. Royce primarily focuses on company-specific criteria rather than on political, economic, or other country-specific factors.
Normally, the Fund invests at least 80% of its net assets in equity securities of companies principally engaged in the financial services industry. For these purposes, a company is deemed to be principally engaged in the financial services industry if at least 50% of its consolidated assets, revenues, or net income are committed to, or are derived from, financial services-related activities. The Fund may invest in other investment companies that invest in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Funds portfolio.
RGFIX Holdings
Top 10 holdings of Royce Global Financial Services Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Tel Aviv Stock Exchange Ltd | 5.73% |
| Sprott Inc | 5.21% |
| KKR & Co Inc | 4.73% |
| First Citizens BancShares Inc/NC | 4.68% |
| FirstService Corp | 3.96% |
| E-L Financial Corp Ltd | 3.69% |
| Intermediate Capital Group PLC | 3.69% |
| FTAI Aviation Ltd | 3.56% |
| Franco-Nevada Corp | 3.50% |
| Altus Group Ltd/Canada | 3.02% |
RGFIX Portfolio Allocation
Asset-class allocation of Royce Global Financial Services Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.5% |
| Cash & Equivalents | 2.6% |
RGFIX Performance
Total returns for RGFIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 22.0% |
| 3 years (annualised) | 0.9% |
| 5 years (annualised) | 8.3% |
RGFIX Risk Information
Risk metrics for RGFIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.7%
RGFIX Costs and Fees
RGFIX costs about $157 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.57%
- Gross expense ratio: 1.74%
- Portfolio turnover: 12%
- Brokerage commissions: 4.17 bps of average net assets (SEC N-CEN)
RGFIX Cashflows
Over the 12 months to 2024-06, Royce Global Financial Services Fund had net outflows of $685.24K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-06 | −$119.07K |
| 2024-05 | −$197.53K |
| 2024-04 | −$213.78K |
| 2024-03 | $199.75K |
| 2024-02 | −$152.19K |
| 2024-01 | −$384.58K |
RGFIX Debt Constituents
No individual debt constituents are reported in Royce Global Financial Services Fund's latest SEC N-PORT filing.
RGFIX Prospectus and SEC Filings
Official Royce Global Financial Services Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-29
- Prospectus (485BPOS) — filed 2023-04-28
- Prospectus (485BPOS) — filed 2022-04-29
- Portfolio holdings (N-PORT) — filed 2024-08-12
- Portfolio holdings (N-PORT) — filed 2024-05-20
- Portfolio holdings (N-PORT) — filed 2024-02-20
- Annual census (N-CEN) — filed 2024-03-11
- Annual census (N-CEN) — filed 2023-03-08
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.