The investment seeks long-term capital appreciation without undue risk to capital. Current income is incidental. The fund actively allocates assets among countries, geographic regions, and currencies. The advisor tries to anticipate changes in U.S. and foreign markets, and considers political and economic conditions to determine allocations. The fund may invest in securities issued anywhere in the world, and there is no limit on the amount it may invest in any one country or currency. It may invest no more than 25% of assets in gold and silver bullion. The fund may leverage, sell short, and engage in options and futures.
Fund filings (PDF) »

Asset manager:
W. Whitney George (Started: Jun 1, 2002)

Advisor Company:
Royce & Associates, LLC
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	-9.56	7.73	6.34	12.34
Beta*	1.54	1.34	1.35	1.08
Mean annual return	4.91	0.17	0.64	1.10
R-squared*	74.42	77.90	73.90	58.59
Standard deviation	25.20	30.30	25.25	22.68
Sharpe ratio	2.33	0.01	0.19	0.46
* Against standard index

Risk measurement details »

Security	Net Assets
The Mosaic Company (MOS)	2.51%
Kennedy-Wilson Holdings, Inc. (KWIC)	2.42%
Reliance Steel and Aluminum (RS)	2.34%
Unit Corporation (UNT)	2.30%
Nucor Corp. (NUE)	2.24%
Ivanhoe Mines, Ltd. (IVN)	2.19%
Silver Standard Resources, Inc. (SSRI)	2.17%
Buckle, Inc. (BKE)	2.11%
Sanderson Farms, Inc. (SAFM)	2.03%
Major Drilling Group International Inc. (MDI)	1.98%

Holdings Performance »