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Royce Small-Cap Special Equity Fund Service Class RSEFX Fund Analysis

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Morningstar’s Analysis RSEFX

Will RSEFX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RSEFX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the RSEFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of RSEFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Recent Promotions Reflect Reality at Royce Small-Cap Special Equity.

null Dan Culloton

Dan Culloton

Analyst Note

Royce Small-Cap Special Equity assistant managers Steve McBoyle and Tim Hipskind will formally become comanagers of the strategy on Sept. 1, 2026, with since-inception manager Charlie Dreifus, according to recent regulatory filings and firm statements. The promotion confirms how the team has already been operating. The trio has managed the fund together for two years, since Hipskind joined the squad; McBoyle has worked with Dreifus on this strategy for more than a decade. Dreifus, 82, has no plans to retire, but the firm said the promotions clarify succession plans. The strategy's People Pillar rating remains the same.

by Dan Culloton
Published on

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