$RSMR

The Royce Capital Fund-Micro-Cap Portfolio's FY 2025 report highlighted a mixed performance, with certain sectors and stock selections generating strong returns while others underperformed. Key industry gains were seen in technology and healthcare sectors, which contributed positively to the fund's overall returns. Conversely, the energy sector faced significant challenges due to fluctuating oil prices and regulatory headwinds. The fund's management expressed optimism for future investments in innovative micro-cap companies, despite acknowledging past setbacks. Overall, the report indicates a cautious yet hopeful outlook for micro-cap investments moving forward.