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Managed Fund Since
Equity
RCMCX Royce Capital Fund - Micro-Cap Portfolio
Popular Documents
Total Net Assets
$95.54M
As of 12/31/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
One of the only variable annuity products dedicated to investing in micro-cap stocks (generally market caps up to $1 billion). Core approach that combines multiple investment themes and offers wide exposure to microcap stocks by investing in companies with strong fundamentals and/or prospects selling at prices that Royce believes do not fully reflect these attributes. Approach emphasizes the intersection of valuation with fundamental strength and/or excellent growth or turnaround potential.
- Benchmark
- Russell 2000 Index
- Fund Inception Date
- 05/04/2007
- Share Class Inception Date
- 12/27/1996
Identifiers
- Ticker
- RCMCX
- Fund Number
- 296
- CUSIP Code
- 78080T303
- Bloomberg Code
- RCMCX US
Top Asset Allocation
As of 12/31/2025 % of Total (Updated Monthly)
U.S. Investments85.95% | |
Non-U.S. Investments14.05% |
Additional Fund Info
- Asset Class
- Equity
- Morningstar Category
4 - Small Blend
- Lipper Classification
- N/A
- Investment Style
- Small Cap
Manager and Commentary
About the Team
Royce Investment
Royce Investment Partners specializes in small-cap investing, managing both U.S. and international portfolios for individual investors, financial advisors, and institutions. The firm is generally regarded as a pioneer in small-cap investing. Focusing on this distinctive asset class for more than 45 years has given Royce an unparalleled domain knowledge of the small-company investment universe.
Latest Insights
January 8, 2026
January 8, 2026
January 6, 2026
October 14, 2025
Portfolio
Assets
As of11/30/2025 (Updated Monthly)
- Total Net Assets
- $95.13 Million
Asset Allocation
As of 12/31/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
U.S. Investments | 85.95% |
Non-U.S. Investments | 14.05% |
Holdings
As of 09/30/2025 (Updated Quarterly)
Fixed Income Clearing Corporation
LightPath Technologies Cl. A
Newpark Resources
Investar Holding Corporation
CECO Environmental Corp
Astronics Corporation
Natural Gas Services Group
nLight Inc
Sprott
Graham Corporation
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
Federal ID Number 13-3890605
For information on tax years prior to 2008, please contact us2025 tax information will be available in early February
These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Data not currently available.
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Royce Capital Fund?Micro-Cap Portfolio - Class Investment, Service | |||
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Royce Capital Fund - Micro-Cap Portfolio Investment Class | |||
| Semi-Annual Report - Royce Capital Fund - Micro-Cap Portfolio Investment Class | |||
| Summary Prospectus - Royce Capital Fund - Micro-Cap Portfolio (Investment and Service Classes) |
Risks
The Fund invests primarily in micro-cap stocks, which may involve considerably more risk than investments in securities of larger-cap companies. The Fund’s broadly diversified portfolio does not ensure a profit or guarantee against loss. The Fund may invest up to 25% of its net assets in foreign securities (measured at the time of investment), which may involve political, economic, currency, and other risks not encountered in U.S. investments.
Important Information
Past performance is no guarantee of future results. These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59 1/2 are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.
VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
Royce & Associates, LP primarily conducts its business under the name Royce Investment Partners.
The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe.
Source: FTSE.