MutualFundWire.com: Royce Pulls the Plug on a Tech Fund

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Tuesday, March 24, 2009

Royce Pulls the Plug on a Tech Fund

Royce and Associates plans to liquidate its $7 million Royce Technology Value Fund on April 30.

"The fund is being liquidated primarily because over the last several years it has not attracted and maintained assets at a sufficient level for it to be viable," according to a statement posted on Royce's Web site on Monday.

Company Press Release

March 23, 2009

The Royce Fund's Board of Trustees approved a plan of liquidation for Royce Technology Value Fund (RYTVX), to be effective April 30, 2009.

The Fund is being liquidated primarily because over the last several years it has not attracted and maintained assets at a sufficient level for it to be viable. We believe that this action is in the best interests of the Fund's shareholders. As of March 23, 2009, the Fund is no longer offering its shares for purchase and will not accept any investments in the Fund.