Royce Investment Partners will retain its personnel and its investment autonomy under a new parent, Franklin Resources. Royce Pennsylvania received its current Morningstar Analyst Rating while Royce Investment Partners was still under Legg Mason, which had an Above Average Parent rating. Even with Franklin's Average Parent rating, however, the fund's overall ratings would remain the same: Bronze for the Institutional and Investment share classes and Neutral for the rest.
Will PENNX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PENNX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PENNX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PENNX’s parent organization’s priorities and whether they’re in line with investors’ interests.