Royce & Associates, LP (New York)

Name: Royce & Associates, LP
Address: 745 Fifth Avenue, New York, NY, 10151
Telephone: 212-508-4500

Royce & Associates, LP is an investment adviser to an investment company based in New York. It manages $12.99 billion of regulatory assets for 31 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Connecticut, New York, and Texas.

Royce & Associates provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Royce & Associates: assets under management

The assets under management (AUM) of Royce & Associates, LP is $12.99 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -53% since the beginning of its operation, and $1.2 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $12.99 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $419.17 million each.

Royce & Associates has custody of $275.17 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 83% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 14% of the firm’s portfolio. Investments in non-exchange traded securities form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Royce & Associates, LP for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Royce & Associates serves?

The firm provides services to investment companies, charitable organizations, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Royce & Associates is investment companies with 18 clients and $11.09 billion of assets under management. Among the 8 most similar advisory firms, Royce & Associates has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $12.99 billion for 31 clients. 16% of the firm’s clients are foreign persons or businesses.

Royce & Associates also advises several private funds. Namely, two other private funds. The minimum investment commitment required of non-related persons ranges from $5,000,000 to $10,000,000.

Careers at Royce & Associates, LP

The company employs 96 people that are either part- or full-time employees. 28 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Charles Morgan Royce	Chairman of board of managers and limited partner	1 Nov 1972	Other	406314
John Edward Denneen	Member of board of managers, general counsel, secretary & chief legal and chief compliance officer, and limited partner	1 Jan 2003	Other	4324430
Peter Hamilton Nachtwey	Member of board of managers	1 Apr 2011	Other	5512176
Christopher Dewitt Clark	Member of board of managers, president and chief executive officer, and limited partner	1 Jul 2014	Other	1735713
John Duff Kenney	Member of board of managers	1 Jun 2015	Other	2387755
Frances Langton Cashman	Member of board of managers	1 Jun 2015	Other	2150911
Joseph Patrick Larocque	Member of board of managers	1 Jun 2015	Other	4363277
Llc Legg Mason Royce Holdings	Limited partner	1 Mar 2016	75% - 100%	81-1629537
Llc Royce & Associates Gp	General partner	1 Mar 2016	Other	36-4833044

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Legg Mason	Sole member	1 Mar 2016	75% - 100%	52-1200960

Based in New York

The principal office where Royce & Associates, LP performs its advisory services is located at 745 Fifth Avenue, New York, NY 10151, which is also the mailing address of the firm. An additional office of the firm is in Greenwich, CT. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-508-4500 or by fax 212-223-8478. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at roycefunds.com.