On June 29, 2020, Royce Value Trust, Inc. announced that Glass Lewis & Co. recommends that stockholders vote for in order to approve the new investment advisory agreement with Royce Investment Partners, the Fund’s investment manager. The Company stated that Glass Lewis is the second independent proxy advisory firm to recommend that stockholders vote for the agreement on the Company’s proxy card. The Company stated that as previously announced, Institutional Shareholder Services has also recommended that the Fund’s stockholders vote for the agreement. The Company added that the special meeting of stockholders to consider the new investment advisory agreement is scheduled to be held on July 14, 2020.
Royce Small-Cap Trust, Inc. (the Fund), formerly Royce Value Trust, Inc., is a diversified, closed-end investment company. The investment objective of the Fund is long-term growth of capital. The Fund primarily invests in small-cap securities. Under normally circumstances, the Fund invests approximately 80% of its assets in the equity securities of small-cap companies. The Fund may also invest up to 25% of its assets in securities of issuers headquartered outside the United States. The Fund invests in various sectors, which include industrials, financials, information technology, health care, consumer discretionary, materials, real estate, communication services, energy, consumer staples and utilities. The Fundâs investment advisor is Royce & Associates, LP. Royce & Associates, LP primarily conducts business using the name Royce Investment Partners.