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FTGF Royce US Small Cap Opportunity Fund

As of 22/09/2026

NAV 1

$443.78

 
 

NAV Change 1

$1.96

(0.44%)

This is a marketing communication. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.

Overview

Royce Investment Partners logo
  • Summary of Fund Objective
  • What Are The Key Risks?

Summary of Fund Objective

To seek long-term investment growth, mainly through growth of capital. The Fund mainly invests in equities of of micro and small market capitalization companies listed or traded in the United States.

What Are The Key Risks?

The Fund does not offer any capital guarantee or protection and you may not get back the amount invested. The Fund is subject to the following risks which are materially relevant:

Concentrated fund: The fund invests in fewer companies than other funds which invest in shares usually do. This means that the fund does not spread its risk as widely as other funds and will therefore be affected more if an individual company has significant losses.
Fund operations: The fund is subject to the risk of loss resulting from inadequate or failed internal processes, people or systems or those of third parties such as those responsible for the custody of its assets, especially to the extent that it invests in developing countries.
Investment in company shares: The fund invests in shares of companies, and the value of these shares can be negatively affected by changes in the company, its industry or the economy in which it operates.
Investment in smaller company shares: The fund buys shares in smaller companies. It may be difficult to sell these shares, in which case the fund may not be able to minimise a loss on such shares.

For further explanation on the risks associated with an investment in the fund, please refer to the section entitled "Risk Factors" in the base prospectus and "Primary Risks" in the fund supplement. Complete information on the risks of investing in the Fund are set out in the Fund’s prospectus.

Fund Information
Total Net Assets  As of 31/08/2026 (Updated Monthly)
$1.32 Billion
Fund Inception Date 
08/11/2002
Share Class Inception Date 
09/05/2007
Inception Date (Performance) 
09/05/2007
Base Currency for Fund 
USD
Base Currency for Share Class 
USD
Benchmark 
Russell 2000 Value Prior to 17 May 2021 Russell 2000
Asset Class 
Equity
Investment Manager 
Royce Investment Partners
Investment Vehicle 
Franklin Templeton Global Funds plc
Domicile 
Ireland
Minimum Investment 
USD 1000
Sales Charges, Expenses & Fees 2
Initial Charge  As of 31/08/2026
5.00%
Ongoing Charges Figure  As of 31/08/2026
1.98%
Identifiers
ISIN Code 
IE00B19Z4B17
Bloomberg Code 
LERSUAA ID
SEDOL Code 
B19Z4B1
CUSIP Code 
G54420123

Portfolio Managers

Jim Stoeffel

New York, United States

Managed Fund Since 2021

Brendan Hartman

New York, United States

Managed Fund Since 2021

Jim Harvey, CFA®

New York, United States

Managed Fund Since 2021

Performance

  • Discrete Annual Returns
  • Cumulative Total Returns
  • Average Annual Total Returns
  • Calendar Year Returns
  • Risk Measures

Discrete Annual Returns

Discrete Annual Returns

As of 31/08/2026

Past performance does not predict future returns. 

Chart

Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from -20.01 to 70.12.
End of interactive chart.

Month End   As of 31/08/2026
A USD ACC - Without Sales Charge (NAV) (%)
Currency  
USD
A USD ACC - Without Sales Charge (NAV) (%)
Aug-25 / Aug-26  
29.06
A USD ACC - Without Sales Charge (NAV) (%)
Aug-24 / Aug-25  
8.99
A USD ACC - Without Sales Charge (NAV) (%)
Aug-23 / Aug-24  
12.13
A USD ACC - Without Sales Charge (NAV) (%)
Aug-22 / Aug-23  
10.63
A USD ACC - Without Sales Charge (NAV) (%)
Aug-21 / Aug-22  
-14.66
A USD ACC - Without Sales Charge (NAV) (%)
Aug-20 / Aug-21  
70.12
A USD ACC - Without Sales Charge (NAV) (%)
Aug-19 / Aug-20  
7.36
A USD ACC - Without Sales Charge (NAV) (%)
Aug-18 / Aug-19  
-20.01
A USD ACC - Without Sales Charge (NAV) (%)
Aug-17 / Aug-18  
21.54
A USD ACC - Without Sales Charge (NAV) (%)
Aug-16 / Aug-17  
19.72
A USD ACC - Without Sales Charge (NAV) (%)
Performance Inception Date  
09/05/2007
A USD ACC - Without Sales Charge (NAV) (%)
Fund Overview  
View
A USD ACC - Without Sales Charge (NAV) (%)
Month End   As of 31/08/2026
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Currency  
USD
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-25 / Aug-26  
29.95
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-24 / Aug-25  
5.83
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-23 / Aug-24  
19.25
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-22 / Aug-23  
2.17
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-21 / Aug-22  
-10.18
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-20 / Aug-21  
43.00
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-19 / Aug-20  
6.02
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-18 / Aug-19  
-12.89
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-17 / Aug-18  
25.45
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Aug-16 / Aug-17  
14.91
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Performance Inception Date  
—
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Fund Overview  
View
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)

The fund’s returns may increase or decrease as a result of changes to foreign exchange rates. 

Source for performance figures - Franklin Templeton. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. See the KID or prospectus for maximum sales charge information, if any. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Cumulative returns and returns of less than one year are not annualized.


Cumulative Total Returns

Cumulative Total Returns

As of 31/08/2026

Past performance does not predict future returns. 

Chart

Line chart with 2 lines.
The chart has 1 X axis displaying Time. Data ranges from 2007-05-01 00:00:00 to 2026-08-01 00:00:00.
The chart has 1 Y axis displaying values. Data ranges from 35.32 to 496.59.
End of interactive chart.

Month End   As of 31/08/2026
A USD ACC - Without Sales Charge (NAV) (%)
Currency  
USD
YTD  
23.60
1 Month  
0.48
3 Months  
-1.96
6 Months  
10.27
1 Year  
29.06
3 Years  
57.73
5 Years  
48.90
10 Years  
216.49
15 Years  
428.22
Since Inception   09/05/2007
350.94
Month End   As of 31/08/2026
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Currency  
USD
YTD  
23.38
1 Month  
0.30
3 Months  
4.29
6 Months  
13.27
1 Year  
29.95
3 Years  
63.99
5 Years  
50.50
10 Years  
186.52
15 Years  
424.43
Since Inception   09/05/2007
384.45

The fund’s returns may increase or decrease as a result of changes to foreign exchange rates. 

Source for performance figures - Franklin Templeton. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. See the KID or prospectus for maximum sales charge information, if any. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Cumulative returns and returns of less than one year are not annualized.


Average Annual Total Returns

Average Annual Total Returns

As of 31/08/2026

Past performance does not predict future returns. 

Chart

Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 8.11 to 29.95.
End of interactive chart.

Month End   As of 31/08/2026
A USD ACC - Without Sales Charge (NAV) (%)
Currency  
USD
1 Year  
29.06
3 Years  
16.40
5 Years  
8.29
10 Years  
12.21
15 Years  
11.73
Since Inception   09/05/2007
8.11
Month End   As of 31/08/2026
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Currency  
USD
1 Year  
29.95
3 Years  
17.93
5 Years  
8.52
10 Years  
11.10
15 Years  
11.68
Since Inception   09/05/2007
8.51

The fund’s returns may increase or decrease as a result of changes to foreign exchange rates. 

Source for performance figures - Franklin Templeton. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. See the KID or prospectus for maximum sales charge information, if any. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Cumulative returns and returns of less than one year are not annualized.


Calendar Year Returns

Calendar Year Returns

As of 31/08/2026

Past performance does not predict future returns. 

Chart

Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from -21.35 to 28.83.
End of interactive chart.

Month End   As of 31/08/2026
A USD ACC - Without Sales Charge (NAV) (%)
Currency  
USD
YTD  
23.60
2025  
11.06
2024  
9.43
2023  
18.23
2022  
-17.74
2021  
28.54
2020  
24.72
2019  
27.16
2018  
-21.35
2017  
20.82
2016  
28.83
Performance Inception Date  
09/05/2007
Month End   As of 31/08/2026
Russell 2000 Value Prior to 17 May 2021 Russell 2000 (%)
Currency  
USD
YTD  
23.38
2025  
12.59
2024  
8.05
2023  
14.65
2022  
-14.48
2021  
15.17
2020  
19.96
2019  
25.52
2018  
-11.01
2017  
14.65
2016  
21.31
Performance Inception Date  
—

The fund’s returns may increase or decrease as a result of changes to foreign exchange rates. 

Source for performance figures - Franklin Templeton. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. See the KID or prospectus for maximum sales charge information, if any. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Cumulative returns and returns of less than one year are not annualized.


Risk Measures

Risk Measures

 As of 31/08/2026
Measured against: Russell 2000 Value Prior to 17 May 2021 Russell 2000
Statistics 3 Years 5 Years 10 Years
Alpha-2.03-0.12 0.35
Beta1.111.09 1.16
R-Squared0.850.89 0.92
Historical Tracking Error9.088.06 7.79
Information Ratio-0.17-0.03 0.14
Upside Capture Ratio111.28110.67 116.44
Downside Capture Ratio116.63108.08 109.57
Standard Deviation (%) 3 Years 5 Years 10 Years
A USD ACC - Without Sales Charge (NAV)22.6323.51 24.98
Sharpe Ratio (%) 3 Years 5 Years 10 Years
A USD ACC - Without Sales Charge (NAV)0.580.29 0.49

The fund’s returns may increase or decrease as a result of changes to foreign exchange rates. 

Source for performance figures - Franklin Templeton. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. See the KID or prospectus for maximum sales charge information, if any. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Cumulative returns and returns of less than one year are not annualized.


Portfolio

Assets

As of 31/08/2026 Updated Monthly
Total Net Assets 
$1.32 Billion

Positions

As of 31/08/2026 Updated Monthly
 FundBenchmark
Number of Holdings 2071,390

Portfolio Statistics

As of 31/08/2026 Updated Monthly
 FundBenchmark
Market Capitalisation (USD) $2.98 Billion$3.44 Billion
Price to Earnings (12-Month Forward) 317.81x12.46x
Price to Book 2.83x1.67x
Median Market Cap (USD) $2.00 Billion$2.98 Billion
Debt to Equity 2.62x1.05x

Portfolio Allocations

  • Assets
  • Geography
  • Sector
  • Market Capitalization

Assets

Asset Allocation

As of 31/08/2026 % of Total Updated Monthly

Chart

Bar chart with 4 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 9.9428 to 44.2801.
End of interactive chart.
Fund
Undervalued Growth 44.28%
Unrecognized Asset Values 28.66%
Turnarounds 17.12%
Interrupted Earnings 9.94%

Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions. 

Geography

Geographic Allocation

As of 31/08/2026 % of Total Updated Monthly

Chart

Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 0.0065 to 96.7837.
End of interactive chart.
Fund Benchmark
United States 90.45% 96.78%
Canada 3.26% 0.93%
Bermuda 0.83% 0.76%
Israel 0.78% 0.05%
Marshall Islands 0.71% 0.39%
Switzerland 0.48% 0.01%
Taiwan 0.46% —
Netherlands 0.43% —
United Kingdom 0.17% 0.08%
Cash & Cash Equivalents 2.44% —

Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions. 

Sector

Sector Allocation

As of 31/08/2026 % of Total Updated Monthly

Chart

Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 0.31846 to 29.71701.
End of interactive chart.
Fund Benchmark
Industrials 29.72% 12.21%
Information Technology 15.36% 6.81%
Health Care 12.85% 11.56%
Financials 11.35% 28.82%
Consumer Discretionary 9.48% 9.31%
Energy 8.51% 7.87%
Materials 6.32% 4.20%
Communication Services 3.67% 2.45%
Consumer Staples 0.32% 2.29%
Cash & Cash Equivalents 2.44% —

Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions. 

Market Capitalization

Market Capitalisation Allocation

As of 31/08/2026 % of Equity Updated Monthly

Chart

Bar chart with 6 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 3.11325 to 25.8282.
End of interactive chart.
Fund
<0.75 Billion 19.29%
0.75-1 Billion 10.12%
1-2.5 Billion 25.83%
2.5-5 Billion 25.15%
5-10 Billion 16.50%
>10 Billion 3.11%

Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions. 

Portfolio Holdings

  • Holdings
  • Top Ten Holdings

Holdings

Holdings

As of 31/08/2026 Updated Monthly
Security Name 
WESTERN A USD LIQUIDITY-W
Sector Name 
—
Weight (%) 
2.83
Market Value ($) 
37128613
Quantity 
37128613
Security Name 
MARINEMAX INC USD 0.001
Sector Name 
Consumer Discretionary
Weight (%) 
1.00
Market Value ($) 
13160812
Quantity 
252292
Security Name 
Robert Half Int'l Inc.
Sector Name 
Industrials
Weight (%) 
0.97
Market Value ($) 
12744298
Quantity 
281269
Security Name 
ANGIODYNAMICS IN USD 0.01
Sector Name 
Health Care
Weight (%) 
0.88
Market Value ($) 
11578605
Quantity 
718053
Security Name 
BIOVENTUS INC USD 0.001
Sector Name 
Health Care
Weight (%) 
0.86
Market Value ($) 
11302120
Quantity 
827388
Security Name 
Select Water Solutions Inc
Sector Name 
Energy
Weight (%) 
0.85
Market Value ($) 
11237903
Quantity 
576155
Security Name 
NOW Inc
Sector Name 
Industrials
Weight (%) 
0.85
Market Value ($) 
11176797
Quantity 
697460
Security Name 
Victory Capital Holdings Inc
Sector Name 
Financials
Weight (%) 
0.84
Market Value ($) 
10983226
Quantity 
93023
Security Name 
Astronics Corp
Sector Name 
Industrials
Weight (%) 
0.84
Market Value ($) 
11043994
Quantity 
149871
Security Name 
MAREX GROUP LTD USD NPV
Sector Name 
Financials
Weight (%) 
0.83
Market Value ($) 
10916650
Quantity 
150668

These securities do not represent all of the securities purchased, sold or recommended for clients, and the reader should not assume that investment in the securities listed was or will be profitable. 

Top Ten Holdings

Top Equity Issuers

As of 31/08/2026 Updated Monthly

Chart

Bar chart with 10 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 0.7962 to 1.00136.
End of interactive chart.
Fund
MARINEMAX INC USD 0.001 1.00%
Robert Half Int'l Inc. 0.97%
ANGIODYNAMICS IN USD 0.01 0.88%
BIOVENTUS INC USD 0.001 0.86%
Select Water Solutions Inc 0.86%
NOW Inc 0.85%
Astronics Corp 0.84%
Victory Capital Holdings Inc 0.84%
MAREX GROUP LTD USD NPV 0.83%
Mistras Group Inc. 0.80%

These securities do not represent all of the securities purchased, sold or recommended for clients, and the reader should not assume that investment in the securities listed was or will be profitable. 

Pricing

Pricing History Chart

As of 22/09/2026 Updated Daily
Since Inception Time Period
  • 1 Month
  • 3 Months
  • 6 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Since Inception

Chart

Line chart with 4880 data points.
The chart has 1 X axis displaying Time. Data ranges from 2007-05-09 00:00:01 to 2026-09-22 00:00:01.
The chart has 1 Y axis displaying values. Data ranges from 30.85 to 485.12.
End of interactive chart.

Past performance does not predict future returns. The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Historical pricing details provided are in share class currency, calculated NAV, taking into account of reinvestments and capital gain or loss. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.

Share Prices

As of 22/09/2026
NAV1 (Net Asset Value)
$443.78
NAV Change1 
$1.96
NAV Change (%)1 
0.44%
Historical Data - Daily Fund Prices
1 Month Time Period
  • 1 Month
  • 3 Months
  • 6 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Since Inception
NAV  As of 22/09/2026
$443.78 (USD)
Highest NAV  As of 27/08/2026
$459.64 (USD)
Lowest NAV  As of 16/09/2026
$439.09 (USD)

Historical Pricing Results   From   24/08/2026   To   22/09/2026

Date 
22/09/2026
NAV  
$443.78
NAV Change  
$1.96
NAV Change (%)  
0.44%
Date 
21/09/2026
NAV  
$441.82
NAV Change  
$1.98
NAV Change (%)  
0.45%
Date 
18/09/2026
NAV  
$439.84
NAV Change  
$-0.87
NAV Change (%)  
-0.20%
Date 
17/09/2026
NAV  
$440.71
NAV Change  
$1.62
NAV Change (%)  
0.37%
Date 
16/09/2026
NAV  
$439.09
NAV Change  
$-1.48
NAV Change (%)  
-0.34%
Date 
15/09/2026
NAV  
$440.57
NAV Change  
$-1.39
NAV Change (%)  
-0.31%
Date 
14/09/2026
NAV  
$441.96
NAV Change  
$-4.79
NAV Change (%)  
-1.07%
Date 
11/09/2026
NAV  
$446.75
NAV Change  
$4.60
NAV Change (%)  
1.04%
Date 
10/09/2026
NAV  
$442.15
NAV Change  
$-5.93
NAV Change (%)  
-1.32%
Date 
09/09/2026
NAV  
$448.08
NAV Change  
$-5.21
NAV Change (%)  
-1.15%
Date 
08/09/2026
NAV  
$453.29
NAV Change  
$-0.11
NAV Change (%)  
-0.02%
Date 
04/09/2026
NAV  
$453.40
NAV Change  
$3.60
NAV Change (%)  
0.80%
Date 
03/09/2026
NAV  
$449.80
NAV Change  
$1.93
NAV Change (%)  
0.43%
Date 
02/09/2026
NAV  
$447.87
NAV Change  
$4.71
NAV Change (%)  
1.06%
Date 
01/09/2026
NAV  
$443.16
NAV Change  
$-7.78
NAV Change (%)  
-1.73%
Date 
31/08/2026
NAV  
$450.94
NAV Change  
$-1.79
NAV Change (%)  
-0.40%
Date 
28/08/2026
NAV  
$452.73
NAV Change  
$-6.91
NAV Change (%)  
-1.50%
Date 
27/08/2026
NAV  
$459.64
NAV Change  
$3.13
NAV Change (%)  
0.69%
Date 
26/08/2026
NAV  
$456.51
NAV Change  
$1.70
NAV Change (%)  
0.37%
Date 
25/08/2026
NAV  
$454.81
NAV Change  
$1.14
NAV Change (%)  
0.25%
Date 
24/08/2026
NAV  
$453.67
NAV Change  
$-6.57
NAV Change (%)  
-1.43%

Documents

  • Product Literature
  • Regulatory Documents

Product Literature

PDF Format

Fact Sheet - FTGF Royce US Small Cap Opportunity Fund

Regulatory Documents

PDF Format

Key Information Document - FTGF Royce US Small Cap Opportunity Fund A USD ACC

PDF Format

Franklin Templeton Global Funds (FTGF)

PDF Format

투자설명서 - Franklin Templeton Global Funds (FTGF)