Royce Investment Partners Insights

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 and has focused on this distinctive asset class for more than 45+ years, leading to unparalleled domain knowledge of the smaller-company investment universe.

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28 OCTOBER 2026

The US Small-Cap Bull Market: A Correction, Not a Conclusion

Royce Investment Partners: Co-CIO Francis Gannon details why recent volatility looks like the typical pattern of a US small-cap leadership cycle.

12 OCTOBER 2026

US Small-Caps Take “The Pause That Refreshes”

Royce Investment Partners: In this third quarter recap, Francis Gannon discusses how the summer months saw small-cap returns cool while mega-caps and other large, mostly AI-centric names rebounded.

24 AUGUST 2026

Are US Micro-Caps the Market’s Best Kept Secret?

Royce Investment Partners: Even with a triple-digit positive return off the April 2025 low, many investors seem unaware of this target-rich, broad, and diverse subset of the small-cap universe.

19 AUGUST 2026

How US Small-Caps Can Navigate Sustained Leadership

Royce Investment Partners: Chris Clark and Francis Gannon discuss how US small-cap stocks can offer an on ocean of opportunities.

12 AUGUST 2026

The Interest-Rate Myth and What Really Drives US Small-Cap Returns

Royce Investment Partners: Co-CIO Francis Gannon examines the myth that rate hikes are bad news for US small-cap returns—and finds that history tells a different story.

6 JULY 2026

US Small-Caps Stay on Top in the Second Quarter

Royce Investment Partners: In this second quarter recap, Francis Gannon discusses how US small-and micro-cap stocks have continued to lead the US equity market in a robust period for equities

11 JUNE 2026

Is any area of the market “affordable”?

Royce Investment Partners: In the midst of a rally, Co-CIO Francis Gannon looks at how valuations for the small- and micro-cap indexes compare to large-cap—and why earnings remain key to market leader...

12 MAY 2026

Beneath the surface, the US market is changing—from concentration to participation

Royce Investment Partners: Co-CIO Francis Gannon looks at how recent performance may be subtly announcing a turning point in market leadership.