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0000709364 ck0000709364:Russell2000IndexFiveMember ck0000709364:Russell3000IndexMember 2025-01-01 2025-12-31 0000709364 ck0000709364:Russell2000IndexFiveMember ck0000709364:Russell3000IndexMember 2021-01-01 2025-12-31 0000709364 ck0000709364:Russell2000IndexFiveMember ck0000709364:Russell3000IndexMember 2016-01-01 2025-12-31 iso4217:USD pure false 485BPOS 0000709364 Average Annual Total Returns As of 12/31/25 (%) Average Annual Total Returns As of 12/31/25 (%) Average Annual Total Returns As of 12/31/25 (%) Average Annual Total Returns As of 12/31/25 (%) Average Annual Total Returns As of 12/31/25 (%) Average Annual Total Returns As of 12/31/25 (%) N-1A THE ROYCE FUND 2026-05-01 2026-05-01 Royce International Premier Fund Investment Goal <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zyhUOi6srNal" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Royce International Premier Fund’s investment goal is long-term growth of capital.</p> Fees and Expenses of the Fund <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zIGi3h9auWVj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</p> Shareholder Fees (fees paid directly from your investment) <div id="xdx_A88_eoef--ShareholderFeesTableTextBlock_zc5ZPC1D8tsa"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_z0vKc4Fx3uS6" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 55%"><span style="font-size: 8pt"> </span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000136200Member_zxfNXdLftbEb" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span id="xdx_91B_ecustom--C000136200Member_zldMBU9EQZyf" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000095056Member_z1fSmqZlxyVf" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span id="xdx_918_ecustom--C000095056Member_zBZDDBUWoaek" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000199330Member_zfdIOZIicdni" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span id="xdx_916_ecustom--C000199330Member_zXRhQEvwjYs" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_401_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zVyIV3WpNSok" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_406_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_zM716qYPoLF9" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40D_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zCPsACEJceO1" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_z6OdtOCTxPA7"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000136200Member_ziIzJWBhpS4d" style="display: none"> </td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000095056Member_zOCuyOizRfO8" style="display: none"> </td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000199330Member_zggU3vCbDWy3" style="display: none"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zopsmITGOPH4" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 55%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zqWcjwRJnKB1" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zYGle8xV1Kbi" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.40%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.48%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.38%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zIwBtttnFGE4" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.40%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.73%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.38%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zUVbBh5IzRN7" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.21%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.29%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.34%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zezN5O0Yix01" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.19%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.44%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.04%</span></td></tr> </table> 0.0100 0.0100 0.0100 0.0000 0.0025 0.0000 0.0040 0.0048 0.0038 0.0140 0.0173 0.0138 -0.0021 -0.0029 -0.0034 0.0119 0.0144 0.0104 April 30, 2027 Example <p id="xdx_A85_eoef--ExpenseExampleNarrativeTextBlock_zpiSw5izWTT3" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: #F3F3F4; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td> <td colspan="10"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></td> <td style="border-right: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid; width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 61%"><span style="font-size: 5pt"> </span></td> <td style="width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 8%"><span style="font-size: 5pt"> </span></td> <td style="width: 4%"><span style="font-size: 5pt"> </span></td> <td style="width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 7%"><span style="font-size: 5pt"> </span></td> <td style="width: 3%"><span style="font-size: 5pt"> </span></td> <td style="width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 8%"><span style="font-size: 5pt"> </span></td> <td style="width: 4%"><span style="font-size: 5pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; width: 1%"><span style="font-size: 5pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td> <td colspan="10"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Investment, Service, and Institutional Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></td> <td style="border-right: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td></tr> </table> <p style="margin: 0"></p> <p id="xdx_A88_eoef--ExpenseExampleWithRedemptionTableTextBlock_zaDnkiZMLVvh" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A50_dU_z1GEd9yTXLM2" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: #F3F3F4; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid; width: 1%"><span style="font-size: 9pt"> </span></td> <td style="width: 61%"><span style="font-size: 9pt"> </span></td> <td style="width: 1%"><span style="font-size: 9pt"> </span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000136200Member_zltGPPoKDkhh" style="width: 8%"><span style="font-size: 9pt"> </span></td> <td style="width: 4%"><span style="font-size: 9pt"> </span></td> <td style="width: 1%"><span style="font-size: 9pt"> </span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000095056Member_zKhjuKZ5wLjg" style="width: 7%"><span style="font-size: 9pt"> </span></td> <td style="width: 3%"><span style="font-size: 9pt"> </span></td> <td style="width: 1%"><span style="font-size: 9pt"> </span></td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--ClassAxis__custom--C000199330Member_z0zkH6salGR9" style="width: 8%"><span style="font-size: 9pt"> </span></td> <td style="width: 4%"><span style="font-size: 9pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; width: 1%"><span style="font-size: 9pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="border-bottom: #B3B3B3 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="border-bottom: #B3B3B3 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zz0Kra1X1NKf" style="vertical-align: top"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$121</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$147</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$106</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zNxNaQ8xYtZ9" style="vertical-align: top"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$422</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$517</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$403</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zIFBdMjawgh1" style="vertical-align: top"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$746</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$911</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$723</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zOZcy4fGz8O3" style="vertical-align: top"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,662</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$2,017</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,628</span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td></tr> </table> 121 147 106 422 517 403 746 911 723 1662 2017 1628 Portfolio Turnover <p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_zEUAezR0Nul4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_908_eoef--PortfolioTurnoverRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zh7Uhmn969C4">22%</span> of the average value of its portfolio.</p> 0.22 Principal Investment Strategy <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zsZTX1pFQf08" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets in a limited number (generally less than 100) of equity securities of small-cap companies issued by companies headquartered outside the United States (“international companies”). Royce looks for companies trading below its estimate of their current worth that it considers “premier”—those that have strong balance sheets, other business strengths, and/or strong business prospects. In addition, Royce considers companies with the potential for improvement in cash flow levels and internal rates of return.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zyqtPbStoi8e">The Fund invests at least 80% of its net assets in equity securities of such premier companies headquartered outside of the United States, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies, that is, those with stock market capitalizations up to $5 billion at the time of investment. Under normal market circumstances, at least 65% of the Fund’s net assets will be invested in equity securities of international companies headquartered in at least three different countries. From time to time, a substantial portion of the Fund’s assets may be invested in companies that are headquartered in a single country. Although the Fund may invest without limit in the equity securities of companies headquartered outside of the United States, no more than 35% of the Fund’s net assets may be invested in equity securities of companies headquartered in “developing countries.” Developing countries, sometimes also referred to as emerging market countries, include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries (as defined in The Royce Fund’s Statement of Additional Information). The Fund does not expect to purchase or sell foreign currencies to hedge against declines in the U.S. dollar or to lock in the value of any foreign securities that it purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">In selecting securities for the Fund, Royce uses a bottom-up, value approach. Royce primarily focuses on company-specific criteria rather than on political, economic, or other country-specific factors. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more appropriate opportunities, and/or manage cash levels in the Fund’s portfolio.</p> The Fund invests at least 80% of its net assets in equity securities of such premier companies headquartered outside of the United States, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies, that is, those with stock market capitalizations up to $5 billion at the time of investment. Under normal market circumstances, at least 65% of the Fund’s net assets will be invested in equity securities of international companies headquartered in at least three different countries. From time to time, a substantial portion of the Fund’s assets may be invested in companies that are headquartered in a single country. Although the Fund may invest without limit in the equity securities of companies headquartered outside of the United States, no more than 35% of the Fund’s net assets may be invested in equity securities of companies headquartered in “developing countries.” Developing countries, sometimes also referred to as emerging market countries, include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries (as defined in The Royce Fund’s Statement of Additional Information). The Fund does not expect to purchase or sell foreign currencies to hedge against declines in the U.S. dollar or to lock in the value of any foreign securities that it purchases. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_znVphwH8M0K6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">As with any mutual fund that invests primarily in common stocks, Royce International Premier Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_906_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zoI0Hcn7NYf3">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></p> <div style="display: none"><span id="xdx_91A_exdx--NextElement_zG1mfWti9Ahe"></span></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--InternationalSecuritiesRiskMember_zO5w4EHtvjRi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">In addition to general market risk, the prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Furthermore, securities of international companies may be subject to different risks than investments in U.S. securities, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular country or region. Prices of international securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. To the extent the Fund focuses its investments in issuers located in a particular country or region, the Fund is subject to greater risks of volatile economic cycles and/or conditions and developments that may be particular to that country or region. For example, the Fund may be subject to greater risk of adverse securities markets, exchange rates, social, political, regulatory, economic, business, environmental or other developments, or natural disasters. The Fund’s investments are usually denominated in or tied to the currencies of the countries in which they are primarily traded. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar. This may occur even if the value of the investment in the currency’s home country has not declined. These risk factors may affect the prices of international securities issued by companies headquartered in developing countries more than those headquartered in developed countries. For example, many developing countries have in the past experienced high rates of inflation or sharply devalued their currencies against the U.S. dollar, thereby causing the value of investments in companies located in those countries to decline. Transaction costs are often higher in developing countries, and there may be delays in settlement procedures. To the extent that the Fund’s investments in the securities of international companies consist of non-U.S. headquartered companies that trade on a U.S. exchange, some or all of the above-stated risks of investing in international companies may not apply.</p> <div style="display: none"><span id="xdx_913_exdx--NextElement_z303LDX5b31d"></span></div> <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zdEbqRV1zFTi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">As of December 31, 2025, the Fund invested a significant portion of its assets in companies headquartered in Japan. Japan’s persistent underlying systemic risks, including high levels of government debt, large structural budget deficits, stubbornly high inflation, an aging and declining population, an uncertain financial sector, low domestic consumption, and certain corporate structural weaknesses, may adversely affect the market performance of companies headquartered in Japan.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">The Fund’s investment in a limited number of issuers may involve considerably more risk to investors than funds that invest in a larger number of issuers because it may be more susceptible to any single corporate, economic, political, regulatory, or market event. A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Information Technology sectors. Industrials sector companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, companies from the Information Technology sector can be significantly affected by the obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions.</p> <div style="display: none"></div> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zSQD86ec1ysl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</p> <div style="display: none"></div> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_zuyoWDDkYcSd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</p> <div style="display: none"></div> <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zUr6fn9M1fW6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</p> Performance <p id="xdx_A8C_eoef--PerformanceNarrativeTextBlock_zYQw0nF8WQui" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span id="xdx_903_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_ziELHq6SurY">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zSZkteOVJ5vh">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Service Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zTy7doh5TOEl">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the MSCI ACWI ex USA IMI Index, a broad-based measure of international equity market performance, and the MSCI ACWI ex USA Small Cap Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests.</span> The Investment Class commenced operations on January 22, 2014, and the Institutional Class commenced operations on May 2, 2018. Performance information prior to these dates is for the Service Class. The returns differ only to the extent that the Classes have different expenses because all Classes invest in the same portfolio of securities.</p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the MSCI ACWI ex USA IMI Index, a broad-based measure of international equity market performance, and the MSCI ACWI ex USA Small Cap Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Service Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zBIBd3Z1lH72" style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="img004_v1.jpg"/></p> -0.011 0.398 -0.128 0.342 0.157 0.058 -0.272 0.076 -0.074 0.094 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zTAEb5ekNSjc" style="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zjb6QrGbfj6g">highest return</span> for a calendar quarter was <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturn_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_z9mANi2RNnxk">21.53%</span> (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_z7gNXf59WCyc">6/30/20</span>) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zJ6jPDnjTjQ6">lowest return</span> for a calendar quarter was <span id="xdx_902_eoef--BarChartLowestQuarterlyReturn_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zeenBvxKuzSf">-23.81%</span> (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_z9S1MI81mGU6">3/31/20</span>).</p> highest return 0.2153 2020-06-30 lowest return -0.2381 2020-03-31 <p id="xdx_A8D_eoef--PerformanceTableNarrativeTextBlock_zr6zapeKeMPf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">The table also presents the impact of taxes on the Fund’s returns (Service Class again used for illustrative purposes). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zc6pjXIEGpoh">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. </span>We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zuHU3xaxkD9h">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. </span>Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zkllEJHc7Ck5">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000030672Member_zbecq5DG38Di">(800) 841-1180</span>.</p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%) <div id="xdx_A87_eoef--PerformanceTableTextBlock_zcjs11zSsrO4"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_z8ysNxnAlvC2" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; width: 67%"><span style="font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zW2Jr9A5ZTT8" style="border-bottom: #B3B3B3 1pt solid; width: 11%; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zSq9RybaaFjk" style="border-bottom: #B3B3B3 1pt solid; width: 11%; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zO5AAh9VgHzc" style="border-bottom: #B3B3B3 1pt solid; width: 11%; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000095056Member_zBRyjH84qoi1" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.37</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-3.44</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.64</span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000095056Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_znbrAyS9dqVi" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.16</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-4.11</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.18</span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000095056Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zfGtxBiqS1o1" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.69</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-2.57</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.66</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000136200Member_zFdGqI9oJKv4" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.69</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-3.19</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.90</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000199330Member_zTFagBB2JEGe" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.88</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-3.04</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.96</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>MSCI ACWI ex USA IMI Index</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MSCIIndexOneMember_zQgDVG8AiH7e" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">31.96</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.77</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.37</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>MSCI ACWI ex USA Small Cap Index</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MSCIACWIexUSASmallCapIndexMember_zuJuTo1fHOF6" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">29.26</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.91</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.13</span></td></tr> </table> 0.0937 -0.0344 0.0464 0.0916 -0.0411 0.0418 0.0569 -0.0257 0.0366 0.0969 -0.0319 0.0490 0.0988 -0.0304 0.0496 0.3196 0.0777 0.0837 0.2926 0.0691 0.0813 Royce Micro-Cap Fund Investment Goal <p id="xdx_A89_eoef--ObjectivePrimaryTextBlock_z5oOoOjHHsvg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Royce Micro-Cap Fund’s investment goal is long-term growth of capital.</p> Fees and Expenses of the Fund <p id="xdx_A8E_eoef--ExpenseNarrativeTextBlock_zsJ1hx92ihCj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</p> Shareholder Fees (fees paid directly from your investment) <div id="xdx_A84_eoef--ShareholderFeesTableTextBlock_z4gPvT7WNnTd"></div> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_z1ziGD5Fn445" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; width: 70%"><span style="font-size: 8pt"> </span></td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025994Member_z5O5qpKWu872" style="border-bottom: #CCCCCC 1pt solid; width: 15%; text-align: center"><span id="xdx_91E_ecustom--C000025994Member_zLQzh4U7C93k" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_493_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025996Member_zJvW5TiXZsd2" style="border-bottom: #CCCCCC 1pt solid; width: 15%; text-align: center"><span id="xdx_912_ecustom--C000025996Member_zaP7x4Ttamne" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td></tr> <tr id="xdx_401_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zmuuNLv9Ohyf" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40F_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_zcfFgy5JEy6h" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_402_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zSvO44oDULk2" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends </span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <p id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zez4wj87VLBk" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A53_zcPthdRlv1Yl" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025994Member_zEFCHQEkRr0d" style="display: none"> </td> <td id="xdx_493_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025996Member_zz6NqtJrJs46" style="display: none"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zU9tELydZ2Ak" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; width: 70%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zYnxOXj9A5Ik" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zZB3g9vGvOy8" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.26%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.32%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zv2QnsAc72p9" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.26%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.57%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zfhuo4KbCwmb" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.02%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.08%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zsPOUZPW3OIj" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.24%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.49%</span></td></tr> </table> 0.0100 0.0100 0.0000 0.0025 0.0026 0.0032 0.0126 0.0157 -0.0002 -0.0008 0.0124 0.0149 April 30, 2027 Example <p id="xdx_A8F_eoef--ExpenseExampleNarrativeTextBlock_z3N9G2gmmaT5" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: #F3F3F4; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid; width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 50%"><span style="font-size: 5pt"> </span></td> <td style="width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 8%"><span style="font-size: 5pt"> </span></td> <td style="width: 3%"><span style="font-size: 5pt"> </span></td> <td style="width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 11%"><span style="font-size: 5pt"> </span></td> <td style="width: 6%"><span style="font-size: 5pt"> </span></td> <td style="width: 1%"><span style="font-size: 5pt"> </span></td> <td style="width: 11%"><span style="font-size: 5pt"> </span></td> <td style="width: 6%"><span style="font-size: 5pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; width: 1%"><span style="font-size: 5pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td> <td colspan="10"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></td> <td style="border-right: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid"><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td><span style="font-size: 5pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid"><span style="font-size: 5pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-left: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td> <td colspan="10" style="text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Investment and Service Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></td> <td style="border-right: #B3B3B3 1pt solid"><span style="font-size: 9pt"> </span></td></tr> </table> <p id="xdx_A87_eoef--ExpenseExampleWithRedemptionTableTextBlock_zcP2VaVsx1ak" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: #F3F3F4; border-collapse: collapse"> <tr style="display: none; vertical-align: top; visibility: hidden"> <td style="border-left: #B3B3B3 1pt solid; display: none; width: 1%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 50%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 1%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 8%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 3%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 1%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025994Member_zoKAaiPwbNea" style="display: none; width: 11%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 6%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 1%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025996Member_zZusqjbFmO6i" style="display: none; width: 11%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="display: none; width: 6%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td> <td style="border-right: #B3B3B3 1pt solid; display: none; width: 1%; visibility: hidden"><span style="display: none; font-size: 9pt; visibility: hidden"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="border-bottom: #B3B3B3 1pt solid; vertical-align: middle; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="border-bottom: #B3B3B3 1pt solid; vertical-align: middle; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_z8DYlTSctpb8"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$126</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$152</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zBgwP3ide7j8"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$398</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$488</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_ztlIOdE5mEV3"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$690</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$848</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_z27kknYh2fK2"> <td style="border-bottom: #B3B3B3 1pt solid; border-left: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,521</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: bottom; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,861</span></td> <td style="border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td> <td style="border-right: #B3B3B3 1pt solid; border-bottom: #B3B3B3 1pt solid; vertical-align: top"><span style="font-size: 8pt"> </span></td></tr> </table> 126 152 398 488 690 848 1521 1861 Portfolio Turnover <p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_zpSOPfPRbzil" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_907_eoef--PortfolioTurnoverRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zPYporgntaRc">38%</span> of the average value of its portfolio.</p> 0.38 Principal Investment Strategy <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zJ7O6mfpnuWh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of micro-cap companies. Micro-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell Microcap^® Index at the time of its most recent reconstitution. Royce uses multiple investment themes and offers wide exposure to micro-cap stocks by investing in companies with strong fundamentals and/or prospects selling at prices that Royce believes do not fully reflect these attributes. Royce considers companies with strong balance sheets, attractive growth prospects, and/or the potential for improvement in cash flow levels and internal rates of return, among other factors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zKndaMlaKcth">The Fund invests at least 80% of its net assets in equity securities of micro-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of micro-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zTJ7MjeDV3X2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">As with any mutual fund that invests primarily in common stocks, Royce Micro-Cap Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_906_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--RiskAxis__oef--RiskLoseMoneyMember_z0Ha6Jpw26J4">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MicroCapRiskMember_zKcSIAqgv1Bi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">The prices of micro-cap securities are generally more volatile than those of larger-cap securities. In addition, because micro-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</p> <div style="display: none"></div> <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_z9hqODbbX4Wl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Information Technology and Industrials sectors. Information Technology sector companies can be significantly affected by the obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. In addition, companies from the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</p> <div style="display: none"></div> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zPw93GqSAC24" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</p> <div style="display: none"></div> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zU4EwHiy2LWl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</p> <div style="display: none"></div> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_zFUrN2pIxcWg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <div style="display: none"></div> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_z9CPIX3uoQ9c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</p> Performance <p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_z747pnUYzYCc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span id="xdx_907_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zIarGqgWZSU8">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zudjKJ5cnoal">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Investment Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zv1bo6JLaI1l">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell Microcap Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span> The Classes have substantially similar returns because they invest in the same portfolio of securities, differing only to the extent that the Service Class has higher expenses than the Investment Class. If Service Class’s expenses had been reflected, returns for that Class would have been lower.</p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell Microcap Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Investment Class (%) <p id="xdx_A81_eoef--BarChartTableTextBlock_zK6g3JYSv27a" style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="img005_v1.jpg"/></p> 0.197 0.054 -0.089 0.212 0.245 0.310 -0.226 0.193 0.134 0.133 <p id="xdx_A87_eoef--BarChartClosingTextBlock_zTB6UEFrpVX1" style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_z70Tk2Jh6hh1">highest return</span> for a calendar quarter was <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_z5WOtgFtUdd3">36.93%</span> (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zXvsYS86E3ql">12/31/20</span>) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_z4yGQaHNE2hi">lowest return</span> for a calendar quarter was <span id="xdx_902_eoef--BarChartLowestQuarterlyReturn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zYg6IStB4mV2">-31.76%</span> (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zt0dHPXaVU78">3/31/20</span>).</p> highest return 0.3693 2020-12-31 lowest return -0.3176 2020-03-31 <p id="xdx_A8D_eoef--PerformanceTableNarrativeTextBlock_zhciELaHnJJ9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt">The table also presents the impact of taxes on the Fund’s returns (Investment Class again used for illustrative purposes; after-tax returns differ by Class and would have been lower for the Service Class). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zx53XfWyorH4">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. </span>We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zuXbeIv51Ua">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zPtZ7GMP8B81">www. royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member_zv3Hplw9P6Xb">(800) 841-1180</span>.</p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www. royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%) <div id="xdx_A84_eoef--PerformanceTableTextBlock_zqI4ZR5Jtvea"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zdULyy0ZRdW" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; width: 67%"><span style="font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zYuaDWReiu59" style="border-bottom: #B3B3B3 1pt solid; width: 11%; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zA4ANJSM2hJ3" style="border-bottom: #B3B3B3 1pt solid; width: 11%; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zEbckWBE0YKh" style="border-bottom: #B3B3B3 1pt solid; width: 11%; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025994Member_z1RkVS3UvR9k" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.33</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.24</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.43</span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025994Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zpZCrFCwOIT4" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.92</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.32</span></td> <td style="text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.92</span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025994Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zB5RHQcRRnp3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.47</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.92</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.98</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025996Member_z8YLWWcXnvZ9" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.08</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.95</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.22</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_ztKfk2Unez3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell Microcap Index</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--RussellMicrocapIndexMember_zPvxwtH1rJy7" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">22.98</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.32</span></td> <td style="border-bottom: #CCCCCC 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.58</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td> <td style="padding-right: 5pt"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zVRAYxFWMK2g" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.1333 0.0924 0.1043 0.0992 0.0632 0.0792 0.1047 0.0692 0.0798 0.1308 0.0895 0.1022 0.1715 0.1315 0.1429 0.2298 0.0732 0.0958 0.1281 0.0609 0.0962 Royce Premier Fund Investment Goal  <p id="xdx_A80_eoef--ObjectivePrimaryTextBlock_z3tQwmoFypwf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Premier Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A80_eoef--ExpenseNarrativeTextBlock_zHFHqji9J3Nh" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A85_eoef--ShareholderFeesTableTextBlock_ziahw8fPRF25" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5C_zEDpCGIsjwR7" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 49%; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025990Member_zF6wh3hRcTJ6" style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 17%; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span id="xdx_91C_ecustom--C000025990Member_zQYIlMGWyMJk" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025992Member_zOUqTd0rsBM8" style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 17%; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span id="xdx_917_ecustom--C000025992Member_zueBM2GEZsrd" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>SERVICE CLASS</b></span></td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025991Member_zAuyQT5vSlPj" style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 17%; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span id="xdx_913_ecustom--C000025991Member_zJUEXVPPEjli" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_40A_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zbqs5mzb3LR5" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> <tr id="xdx_40E_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_z2YE7jTyIgM7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Maximum deferred sales charge</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> <tr id="xdx_407_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zrIlDp6vZB8" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> </table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A80_eoef--AnnualFundOperatingExpensesTableTextBlock_zjKFwILMLdW6"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_z997pn6DKJOf" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025990Member_zoTO1E1nTUyb" style="display: none"> </td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025992Member_zLbFtyR92fOi" style="display: none"> </td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025991Member_zLK4eUcBrbn6" style="display: none"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zjtD80dtN3Gf" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 49%; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">Management fees</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 17%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 17%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 17%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_ztj81jNuvmAg" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.25%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.00%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zLGFJoPYY3Ml" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">Other expenses</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.22%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.39%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.15%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_z967spbBwYA9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">Total annual Fund operating expenses</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.22%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.64%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.15%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zwxUqO7Kiwpf" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">-0.15%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">0.00%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zEML66Wiadha" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.22%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.49%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,0,0)">1.15%</span></td></tr> </table> 0.0100 0.0100 0.0100 0.0000 0.0025 0.0000 0.0022 0.0039 0.0015 0.0122 0.0164 0.0115 0.0000 -0.0015 0.0000 0.0122 0.0149 0.0115 April 30, 2027 Example <p id="xdx_A89_eoef--ExpenseExampleNarrativeTextBlock_zlFuwHSmUKI" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Service Class in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be: </span></p> <p id="xdx_A88_eoef--ExpenseExampleWithRedemptionTableTextBlock_zriPPcuRobF4" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5D_zqIfcWUuDdHi" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025990Member_zvUVgUf7M0tc" style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INVESTMENT CLASS</b></span></td> <td colspan="2" id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025992Member_z5sFC99efTZ" style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>SERVICE CLASS</b></span></td> <td colspan="2" id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025991Member_zxrlQnCDp97i" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zwMExhUiIqhc" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 49%; padding-right: 5pt; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">1 Year</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; vertical-align: bottom; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$124</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; vertical-align: bottom; width: 6%"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$152</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 6%"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$117</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 6%"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zFixNDTRUqRk" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">3 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$387</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$503</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$365</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zBZwm9Mqqfza" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">5 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$670</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$878</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$633</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zqjN2XMBlbd9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">10 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$1,477</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$1,931</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$1,398</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-size: 8pt"> </span></td></tr> </table> 124 152 117 387 503 365 670 878 633 1477 1931 1398 Portfolio Turnover  <p id="xdx_A82_eoef--PortfolioTurnoverTextBlock_zjHaxEfQVnNh" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_907_eoef--PortfolioTurnoverRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zTWP5qz6ypng">20%</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of the average value of its portfolio.</span></p> 0.20 Principal Investment Strategy <p id="xdx_A8F_eoef--StrategyNarrativeTextBlock_zZBsvLH3GUE9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets in a limited number (generally less than 100) of equity securities of primarily small-cap companies at the time of investment. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. Royce looks for companies that it considers “premier”—those that it believes are trading below its estimate of their current worth that also have excellent business strengths, strong balance sheets and/or improved prospects for growth, the potential for improvement in cash flow levels and internal rates of return, and franchise durability.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_z0KYRQs9UNLd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of such premier companies, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies at the time of investment. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of such premier companies, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies at the time of investment. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zE1uKVjzjVF6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Premier Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_906_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zf9FF29986jd">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember_zaWMoQb8C9E5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zPy8i41YOJh1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s investment in a limited number of issuers may involve considerably more risk to investors than funds that invest in a larger number of issuers because it may be more susceptible to any single corporate, economic, political, regulatory, or market event. A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials sector. These companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"></p> <div style="display: none"></div> <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zj7Epfc3Awdi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_z1Cri5bDrb11" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_z0JZKIle7K0k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zSN0DdNlOFId" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities</span></p> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance <p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_zRjYFLAFxxm3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span id="xdx_907_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zu6NYROS56F9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zbmhjE5BdKI4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Past performance does not indicate how the Fund will perform in the future. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Investment Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zbyxRNbDnQ5i">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Classes have substantially similar returns because they invest in the same portfolio of securities, differing only to the extent that the Classes have different expenses. The Service Class has higher expenses than the Investment Class. If Service Class’s expenses had been reflected, returns for that Class would have been lower.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Investment Class (%) <p id="xdx_A8C_eoef--BarChartTableTextBlock_zwfs3LDyboBa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><img alt="" src="img006_v1.jpg"/></span></p> 0.230 0.238 -0.104 0.341 0.115 0.164 -0.155 0.225 0.030 0.056 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zn4SpCg4sgV" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zsTIgerGQp78">highest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zGfFLrU6P13f">25.31% </span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_z62DDv44Zd47">12/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_z6JYJWRaL1Q3">lowest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_902_eoef--BarChartLowestQuarterlyReturn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zLXvzL5Fw9D7">-27.80%</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zZHqJfsCF0ng">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> highest return 0.2531 2020-12-31 lowest return -0.2780 2020-03-31 <p id="xdx_A8B_eoef--PerformanceTableNarrativeTextBlock_zQze5blhshVj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Investment Class again used for illustrative purposes; after-tax returns differ by Class and would have been lower for the Service Class). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zIgEWViMLq95">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zkSQFOt2tXul">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_zmcZkBnGBqQ4">www.royceinvest.com</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member_z0WtqRWNbpxk">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%) <div id="xdx_A8B_eoef--PerformanceTableTextBlock_zCZ0IuodHtJg"></div> <table cellpadding="0" cellspacing="0" id="xdx_A56_dU_z4r13V7Xkdq7" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 55%; padding-top: 1pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zgRPMwlZaOe6" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR </b></span></td> <td id="xdx_493_20210101__20251231_zJgdoUp3WMzl" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR </b></span></td> <td id="xdx_49D_20160101__20251231_zNJoxAyBzZTc" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025990Member_zfTiihHJiO1h" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.63 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.56 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.34</span></td></tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025990Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zKZZ8LsiKoO9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.00 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.97 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.14</span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025990Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zn94ryj0RFte" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.32 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.16 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.81</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025992Member_zLdDIry6Tzgh" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.30 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.26 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.99</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025991Member_zkjNMUj3DZZe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.59 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.63 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.41</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zb3F3Jjydp3l" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes) </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_z4lOKUcsQ2xg" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes) </span></td> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81 </span></td> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09 </span></td> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.0563 0.0556 0.1034 0.0300 0.0297 0.0714 0.0532 0.0416 0.0781 0.0530 0.0526 0.0999 0.0559 0.0563 0.1041 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 Royce Small-Cap Fund Investment Goal <p id="xdx_A83_eoef--ObjectivePrimaryTextBlock_zVWSkbE5ivf5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Small-Cap Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund <p id="xdx_A82_eoef--ExpenseNarrativeTextBlock_z87L1dztiSh7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A88_eoef--ShareholderFeesTableTextBlock_zGT3LAF0vNj6" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 46%; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_495_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_znLaBLqKpIGh" style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span id="xdx_91D_ecustom--C000025997Member_zSyvwcu6fuOc" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025999Member_zvplDYiq1W52" style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span id="xdx_912_ecustom--C000025999Member_zqMtyDSvVTw4" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>SERVICE CLASS</b></span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000098386Member_zGae59dhG108" style="border-bottom: #C6C8CA 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span id="xdx_915_ecustom--C000098386Member_zOBsjdiXJbv3" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_40A_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_pid_dpn_uRatio_zNsfWQv3f5Ra" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> <tr id="xdx_401_eoef--MaximumDeferredSalesChargeOverOther_pid_dpn_uRatio_zA5ozZtKgdK7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Maximum deferred sales charge</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> <tr id="xdx_40D_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_pid_dpn_uRatio_zPcgHmSnXTi1" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Annual Trustee’s Fee—applies only to GiftShare Accounts*</span></td> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$<span id="xdx_908_eoef--MaximumAccountFee_dn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_fKg_____zOKFPvvVZM6a">50</span></span></td> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$<span id="xdx_901_eoef--MaximumAccountFee_dn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025999Member_fKg_____zKYId7c7jQT8">50</span></span></td> <td style="border-bottom: #D1D3D4 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 3pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">N/A</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="display: none; vertical-align: top; text-align: justify; visibility: hidden"> <td style="display: none; width: 0in; visibility: hidden"></td><td style="display: none; width: 0.25in; text-align: left; visibility: hidden"><sup id="xdx_F0C_zreW49S4hCq7" style="display: none; visibility: hidden">*</sup></td><td style="display: none; text-align: justify; visibility: hidden"><span id="xdx_F15_zIObj5CqPRU7" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden">Each GiftShare account pays an annual trustee fee of $50 to Alliance Trust Company, as trustee. Such fee is not included in the total annual Fund operating expenses shown above. If such fee was included, total annual Fund operating expenses would be higher.</span></td> </tr></table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 50 50 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zlnVKoEJVGX"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_ziISEoPclWHd" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; vertical-align: top; visibility: hidden"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; padding-top: 2pt; padding-bottom: 2pt; visibility: hidden"> </td> <td id="xdx_493_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zd0FYw4P5ROj" style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; text-align: center; padding-top: 2pt; padding-bottom: 2pt; visibility: hidden"> </td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025999Member_zBTLTmtfLQ58" style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; text-align: center; padding-top: 2pt; padding-bottom: 2pt; visibility: hidden"> </td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000098386Member_zjoeeqCBlv1" style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; text-align: center; padding-top: 2pt; padding-bottom: 2pt; visibility: hidden"> </td></tr> <tr id="xdx_406_eoef--ManagementFeesOverAssets_pid_dp_uRatio_zSmCOJJ0eF6l" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 46%; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Management fees</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.76%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.76%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.76%</span></td></tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_pid_dp_uRatio_zhVgMsQQICO" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.25%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.00%</span></td></tr> <tr id="xdx_40D_eoef--OtherExpensesOverAssets_pid_dp_uRatio_zMyeIwnBXEhd" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Other expenses</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.19%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.30%</span></td> <td style="border-bottom: #D1D3D4 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.15%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_pid_dp_uRatio_zPPtnUWrAn17" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.95%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">1.31%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">0.91%</span></td></tr> </table> 0.0076 0.0076 0.0076 0.0000 0.0025 0.0000 0.0019 0.0030 0.0015 0.0095 0.0131 0.0091 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zjxZDhn9qh23" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A8F_eoef--ExpenseExampleWithRedemptionTableTextBlock_zzSSClC9BK47" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td colspan="2" id="xdx_492_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zJCZTIzrG3O5" style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INVESTMENT CLASS</b></span></td> <td colspan="2" id="xdx_49F_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025999Member_zdsyzyjO4Hn" style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>SERVICE CLASS</b></span></td> <td colspan="2" id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000098386Member_zJG3W8T124T4" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_ztti5cIqwBa3" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; width: 46%; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">1 Year</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$97</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 6%"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$133</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 6%"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$93</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 6%"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zui6fIcv7Ekd" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">3 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$303</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$415</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$290</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zxCRTCB0acZ6" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">5 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$525</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$718</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$504</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zauOgwtAzoh5" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F1F1F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">10 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$1,166</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$1,579</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000">$1,120</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-size: 8pt"> </span></td></tr> </table> 97 133 93 303 415 290 525 718 504 1166 1579 1120 Portfolio Turnover <p id="xdx_A88_eoef--PortfolioTurnoverTextBlock_z26IkbpaRAdj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_pid_dpU_uRatio_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zNzzkUVQ0Blk">43</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.43 Principal Investment Strategy <p id="xdx_A81_eoef--StrategyNarrativeTextBlock_zRG8ZM5QPUw4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund uses multiple investment disciplines in an effort to provide exposure to approaches that have historically performed well in different market environments. These disciplines include “High Quality,” which looks for companies that have high returns on invested capital and that Royce believes have significant competitive advantages; “Emerging Quality,” which seeks companies that are newer in their lifecycle but that Royce believes can become High Quality in the future; “Traditional Value,” which looks for companies trading at prices below Royce’s estimate of their current worth; and “Quality Value,” which seeks companies with attractive profit margins, strong free cash flows, and lower leverage that also trade at what Royce believes are attractive valuations. The Fund’s portfolio managers generally focus on one of these approaches in managing segments of the Fund’s assets. A Royce Co-Chief Investment Officer will monitor and, from time to time, adjust the Fund’s allocations across these segments of the portfolio.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span id="xdx_90A_eoef--StrategyPortfolioConcentration_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zvs2DXlzuDx4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zOe9pl6v6ws4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90F_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zPW149S4xsra">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember_zbxuD9JCEyU3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zi0EdK8jaEne" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Financials sectors. Companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zYVhxvzA17T" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zVf1LODd6Q65" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_z4tTlRcEjja2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000"></p> <div style="display: none"></div> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zs7bTZtXt4R5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #000000; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in</span></p> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000000"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance <p id="xdx_A82_eoef--PerformanceNarrativeTextBlock_zL4bTp2f08T9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span id="xdx_901_eoef--PerformanceInformationIllustratesVariabilityOfReturns_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zlGN9jv5Psk2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zd8D02vXcMBj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Past performance does not indicate how the Fund will perform in the future.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Investment Class used for illustrative purposes—returns differ by Class). <span id="xdx_905_eoef--PerformanceAdditionalMarketIndex_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zUZvsf5Ivznl">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Classes have substantially similar returns because they invest in the same portfolio of securities, differing only to the extent that the Classes have different expenses. The Service Class has higher expenses than the Investment Class. If Service Class’s expenses had been reflected, returns for that Class would have been lower.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Investment Class (%) <p id="xdx_A83_eoef--BarChartTableTextBlock_zLFbKMnYcUWf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zwnCqOGL0LLe" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden">Years</td> <td style="display: none; width: 50%; visibility: hidden">Returns</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2016</td> <td id="xdx_982_eoef--AnnlRtrPct_pid_dp_uRatio_c20160101__20161231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_ziU3L1NVsQ1a" style="display: none; visibility: hidden">26.5</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_984_eoef--AnnlRtrPct_pid_dp_uRatio_c20170101__20171231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zB9ac4iosRb2" style="display: none; visibility: hidden">16.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_982_eoef--AnnlRtrPct_pid_dp_uRatio_c20180101__20181231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_z7kl0KvEs7Gk" style="display: none; visibility: hidden">-9.7</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20190101__20191231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zQMsE7uK3C0h" style="display: none; visibility: hidden">26.6</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20200101__20201231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zo5UwBH1BSDb" style="display: none; visibility: hidden">14.1</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_988_eoef--AnnlRtrPct_pid_dp_uRatio_c20210101__20211231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zS7Cqpekpjf1" style="display: none; visibility: hidden">22.0</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_98B_eoef--AnnlRtrPct_pid_dp_uRatio_c20220101__20221231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zRiGB2BCcXOk" style="display: none; visibility: hidden">-17.1</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_98C_eoef--AnnlRtrPct_pid_dp_uRatio_c20230101__20231231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zPm3JH9LwHbi" style="display: none; visibility: hidden">26.7</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_98A_eoef--AnnlRtrPct_pid_dp_uRatio_c20240101__20241231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zhxsszk2g52i" style="display: none; visibility: hidden">7.1</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20250101__20251231__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025997Member_zQOwhdg6hWoa" style="display: none; visibility: hidden">9.0</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><img alt="" src="img007_v1.jpg"/></span></p> 0.265 0.162 -0.097 0.266 0.141 0.220 -0.171 0.267 0.071 0.090 <p id="xdx_A8A_eoef--BarChartClosingTextBlock_zVQ8Uci46hJ3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_905_eoef--HighestQuarterlyReturnLabel_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zRM4ZrDThyO7">highest return for a calendar quarter</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">was <span id="xdx_908_eoef--BarChartHighestQuarterlyReturn_pid_dpU_uRatio_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_z2R4Df7eKGR6">27.14</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_ddU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zcl0RekdMHMd">12/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_907_eoef--LowestQuarterlyReturnLabel_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_z6tmpOI2JNC9">lowest return for a calendar quarter</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">was <span id="xdx_907_eoef--BarChartLowestQuarterlyReturn_pid_dpU_uRatio_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zcX70y8srSV1">-30.30</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_904_eoef--BarChartLowestQuarterlyReturnDate_ddU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zcwjXhqceAke">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> highest return for a calendar quarter 0.2714 2020-12-31 lowest return for a calendar quarter -0.3030 2020-03-31 <p id="xdx_A8F_eoef--PerformanceTableNarrativeTextBlock_zkDHx6a8HpH7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Investment Class again used for illustrative purposes; after-tax returns differ by Class and would have been lower for the Service Class). In calculating these figures, <span id="xdx_907_eoef--PerformanceTableUsesHighestFederalRate_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zDvt86uS1tKa">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zuzxKvoUGlD3">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at <span id="xdx_908_eoef--PerformanceAvailabilityWebSiteAddress_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_z1Okc8t9EdIe">www. royceinvest.com</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_902_eoef--PerformanceAvailabilityPhone_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member_zrT29hE7ifii">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www. royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%) <div id="xdx_A8A_eoef--PerformanceTableTextBlock_z9gD0wvyOZx1"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zp48YaMZa79i" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 55%; padding-top: 1pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zq7bNtzyHIQj" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR </b></span></td> <td id="xdx_493_20210101__20251231_zYAzoaP7r6Q8" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR </b></span></td> <td id="xdx_49D_20160101__20251231_zdPh5Cx5z9A7" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000025997Member_zjlX2Fe45ZCe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.95 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.38 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11.11</span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000025997Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zc7Ww5RNd0c" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.38 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.92 </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.47</span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000025997Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zGYBWK6HTb88" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.50 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.27 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.49</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000025999Member_zf6okRpvzma8" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.62 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.05 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.75</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000098386Member_zB9RJPcGC56d" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.00 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.45 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11.19</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zAf1qmv4jgj7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes) </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15 </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b> </b></span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zIM8mIXNP5Q2" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; padding-left: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes) </span></td> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81 </span></td> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09 </span></td> <td style="border-bottom: rgb(188,190,192) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.0895 0.0838 0.1111 0.0738 0.0592 0.0847 0.0650 0.0627 0.0849 0.0862 0.0805 0.1075 0.0900 0.0845 0.1119 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 Royce Small-Cap Opportunity Fund Investment Goal  <p id="xdx_A85_eoef--ObjectivePrimaryTextBlock_z4iyCrCrDkB4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Small-Cap Opportunity Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A80_eoef--ExpenseNarrativeTextBlock_zB3KYkFi5rx4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></p> Shareholder Fees (fees paid directly from your investment) <div id="xdx_A81_eoef--ShareholderFeesTableTextBlock_zy7kdv7vEPjh"></div> <table cellpadding="0" cellspacing="0" id="xdx_A53_dU_zWeuPDl6uo75" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 55%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026013Member_zr2t5NIX4hV1" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; padding-left: 13pt; text-align: center"><span id="xdx_91E_ecustom--C000026013Member_zZxY7282sQSf" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026014Member_zM0Lu5eiUlgh" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; padding-right: 13pt; text-align: center"><span id="xdx_919_ecustom--C000026014Member_zh9hcbQ6y2ve" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td id="xdx_49D_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026015Member_zC6b7UlluR77" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; padding-left: 0.05pt; text-align: center"><span id="xdx_91D_ecustom--C000026015Member_za1eXRLrFV39" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_40E_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zI9FYp3IzBwl" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40B_eoef--MaximumDeferredSalesChargeOverOther_dpn_zpEQcNHpJRb9" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_405_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zkMhUuhkeSO4" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> <p style="margin: 0"></p> <div></div> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <p id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zyImhQ5dpx93" style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_z8uh2WvvjH2j" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr> <td> </td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026013Member_zFrWvDVcO674"> </td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026014Member_z9tCthCLiwQi"> </td> <td id="xdx_49D_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026015Member_zc2rGyU5V7h8"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_z3SWxIS8P1pk" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt; width: 55%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 16pt; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 24pt; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 2.05pt; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zFNWbE9MImz7" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zKu69fyeH3na" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.24%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.35%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.14%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zmisSTrUtAnl" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.24%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.60%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.14%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zDDkx2u28l7" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.11%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zLUhPJr1nvGd" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 16pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.24%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 24pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.49%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.14%</span></td></tr> </table> 0.0100 0.0100 0.0100 0.0000 0.0025 0.0000 0.0024 0.0035 0.0014 0.0124 0.0160 0.0114 0.0000 -0.0011 0.0000 0.0124 0.0149 0.0114 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_z0e1zEar3JT1" style="font: 11pt Times New Roman, Times, Serif; margin: 5pt 6pt 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 5pt 6pt 0pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Service Class in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_zgHjhZzrM8n3" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5C_z6Efau4VneYb" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; background-color: rgb(243,243,244)" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom"> <td style="border-left: rgb(204,204,204) 1pt solid"> </td> <td id="xdx_49E_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026013Member_zbA8AVPjsiw7" style="padding-right: 16.05pt; text-align: right"> </td> <td id="xdx_492_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026014Member_zbRuhNEmWY08" style="padding-right: 13.05pt; text-align: right"> </td> <td id="xdx_49B_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026015Member_zN6skQt3ixUc" style="border-right: rgb(204,204,204) 1pt solid; padding-right: 8.05pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; width: 46%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 18%; padding-right: 16.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 18%; padding-right: 13.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; width: 18%; padding-right: 8.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zQyhiHRVejqi" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$126</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$152</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$116</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zGLM9oV7doR3" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$393</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$494</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$362</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zKlsayGUQu48" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$681</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$860</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$628</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zxfodUed4J43" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,500</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,891</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,386</span></td></tr> </table> 126 152 116 393 494 362 681 860 628 1500 1891 1386 Portfolio Turnover  <p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_zqM37FsojrWc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90B_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zGT45vc73nH8">51</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.51 Principal Investment Strategy  <p id="xdx_A8C_eoef--StrategyNarrativeTextBlock_zMbd3F4VAoDl" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies in an attempt to take advantage of what it believes are opportunistic situations for undervalued securities. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such opportunistic situations may include turnarounds, emerging growth companies with interrupted earnings patterns, companies with unrecognized asset values, or undervalued growth companies. Although the Fund focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_z1oveKGqbWQi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zDvaBaeSqYok" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Opportunity Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90F_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zmvlnTWAez98">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember_zWk54m0Qcspk" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <div style="display: none"></div> <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zJTyGYhONo39" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Information Technology sectors. Industrials sector companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, companies from the Information Technology sector can be significantly affected by the obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. </span></p> <div style="display: none"></div> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zPQT1i6oXEpi" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s opportunistic value investment approach may not be successful and could result in portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “value” stocks may remain undervalued for long periods (particularly during times of low or declining interest rates), undervaluation may become more severe, or perceived undervaluation may actually represent intrinsic value. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values. </span></p> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_z6WYf9VaAzo6" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract. </span></p> <div style="display: none"></div> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zFt5zVefyXoj" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance  <p id="xdx_A8B_eoef--PerformanceNarrativeTextBlock_zo2WIwsUCGR9" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_90C_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zAfVYIGOWcKj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_znpBCgJdqIn4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Past performance does not indicate how the Fund will perform in the future.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Investment Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zRBGN2qDaVFe">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Classes have substantially similar returns because they invest in the same portfolio of securities, differing only to the extent that the Classes have different expenses. The Service Class has higher expenses than the Investment Class. If Service Class’s expenses had been reflected, returns for that Class would have been lower.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Investment Class (%) <p id="xdx_A87_eoef--BarChartTableTextBlock_zTxhHsl1TaJ9" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt; text-align: left"><img alt="" src="img008_v1.jpg"/></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></p> 0.299 0.219 -0.200 0.282 0.265 0.308 -0.171 0.196 0.103 0.119 <p id="xdx_A89_eoef--BarChartClosingTextBlock_z7Lw6uJ0M9fe" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_z4YpYwYmNtAe">highest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_904_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zMVfLQmZxrd7">38.95</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zmdBmgXQISpl">12/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zupoxMcXVqAb">lowest return </span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_905_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zx7DjM2jfi1i">-37.14</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_90E_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zljgD5yn6qZi">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> highest return 0.3895 2020-12-31 lowest return -0.3714 2020-03-31 <p id="xdx_A8A_eoef--PerformanceTableNarrativeTextBlock_zBouTDlRXcC2" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Investment Class again used for illustrative purposes; after-tax returns differ by Class and would have been lower for the Service Class). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zkGG7QR5THYa">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_zTXjIDGAdld5">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at www. <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_z9vAw8Hh8Xnl">royceinvest.com </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member_z577zfsVlx79">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%)  <div id="xdx_A8F_eoef--PerformanceTableTextBlock_zIx6EzrA1wIf"></div> <table cellpadding="0" cellspacing="0" id="xdx_A54_dU_z7zDFxNC0j26" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 67%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zJC0VdTwbvda" style="border-bottom: rgb(204,204,204) 1pt solid; width: 11%; padding-right: 0.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zjHzwww6yLk1" style="border-bottom: rgb(204,204,204) 1pt solid; width: 11%; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zERWVG9qgTrb" style="border-bottom: rgb(204,204,204) 1pt solid; width: 11%; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026013Member_zqDcoD0M4YQ1" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11.86</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.87</span></td> <td style="padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.64</span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026013Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z09Zfn0QcOai" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.61</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.38</span></td> <td style="padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.54</span></td></tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026013Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z0yCNCQt1db1" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.75</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.37</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.95</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026014Member_zKRkn0I0mPMl" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11.58</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.57</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.35</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026015Member_z5zsWFtsSWp8" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11.92</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.96</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.76</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zAMMwHrRAzG5" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Value Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zNyO6mQE1Emf" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.59</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.88</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.27</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zcRKcKskQNMf" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.1186 0.0987 0.1264 0.0961 0.0738 0.1054 0.0875 0.0737 0.0995 0.1158 0.0957 0.1235 0.1192 0.0996 0.1276 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Small-Cap Special Equity Fund Investment Goal  <p id="xdx_A8C_eoef--ObjectivePrimaryTextBlock_zIn3gn79RvBc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Small-Cap Special Equity Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zDrQx00Aa8Xk" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <div id="xdx_A87_eoef--ShareholderFeesTableTextBlock_zdg9U2GupLj8"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zMloawp7PKld" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 55%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_497_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026016Member_zR1JvEGqYF9d" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; padding-left: 19.05pt; text-align: center"><span id="xdx_917_ecustom--C000026016Member_z9BYpp4rypbe" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_495_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026019Member_zCCnS3ZAwwLd" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; text-align: center"><span id="xdx_91B_ecustom--C000026019Member_zqAZTv2ULd8h" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026018Member_zvrmVtfVuT16" style="border-bottom: rgb(204,204,204) 1pt solid; width: 15%; padding-left: 0.05pt; text-align: center"><span id="xdx_915_ecustom--C000026018Member_zZ4wnQpM57Zi" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_401_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_z3LnGlkhnMe2" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 22.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_402_eoef--MaximumDeferredSalesChargeOverOther_dpn_zcFzqmrMbEnb" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 22.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_400_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zZjhOktAT9Tb" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 22.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A8D_eoef--AnnualFundOperatingExpensesTableTextBlock_zkPwXVoqqjR3"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zJnreEsCQt6j" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr> <td> </td> <td id="xdx_497_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026016Member_zyHX9FYwOxxf"> </td> <td id="xdx_495_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026019Member_zZPdqglAPL75"> </td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026018Member_z6M7cmiVm4Rc"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zjjENI3yBcC" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; width: 55%; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; padding-right: 0; text-align: center; padding-left: 0.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; padding-right: 0; text-align: center; padding-left: 2.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zqpsnXp6lTI" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 0.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 2.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zgjpF4fvS7Ra" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 0; text-align: center; padding-left: 0.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.39%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 0; text-align: center; padding-left: 2.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.18%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zR9k8ea9PPn4" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.25%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 0.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.64%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 2.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.18%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zGVLC0UHTg1b" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.01%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 0.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.15%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 2.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zJ7JR79Q2D2c" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.24%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 0; text-align: center; padding-left: 0.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.49%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 0; text-align: center; padding-left: 2.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.18%</span></td></tr> </table> 0.0100 0.0100 0.0100 0.0000 0.0025 0.0000 0.0025 0.0039 0.0018 0.0125 0.0164 0.0118 -0.0001 -0.0015 0.0000 0.0124 0.0149 0.0118 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_z0QD5xklDPrh" style="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0pt 7pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0pt 7pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 3pt 8pt 0pt 7pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Investment and Service Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A81_eoef--ExpenseExampleWithRedemptionTableTextBlock_zkZSKyGHnsig" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A58_zjIieN2tx73e" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; background-color: rgb(243,244,244)" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom"> <td style="border-left: rgb(204,204,204) 1pt solid"> </td> <td id="xdx_491_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026016Member_zIHE1U50UeFk" style="padding-right: 16.05pt; text-align: right"> </td> <td id="xdx_497_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026019Member_zlQUSBLGEk7d" style="padding-right: 13.05pt; text-align: right"> </td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026018Member_zQgrIC3re5Og" style="border-right: rgb(204,204,204) 1pt solid; padding-right: 8.05pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; width: 30%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 39%; padding-right: 16.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 14%; padding-right: 13.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; width: 17%; padding-right: 8.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_z9IRnys7MAna" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$126</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$152</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$120</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zKe7EiVcECri" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$396</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$503</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(179,179,179) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$375</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zX2vINb7bcAc" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$685</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$878</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$649</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zeV7qjCUcJ1c" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,510</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,931</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,432</span></td></tr> </table> 126 152 120 396 503 375 685 878 649 1510 1931 1432 Portfolio Turnover <p id="xdx_A89_eoef--PortfolioTurnoverTextBlock_zQH3c6xTTTPf" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zx8k7aYV9kGg">12</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.12 Principal Investment Strategy  <p id="xdx_A83_eoef--StrategyNarrativeTextBlock_zkx5EPH2a8Ba" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. The portfolio manager applies an intensive value approach in managing the Fund’s assets. This approach, which attempts to combine classic value analysis, the identification of good businesses, and accounting cynicism, has its roots in the teachings of Benjamin Graham and Abraham Briloff. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zdyZRFTOWaV6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/ or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/ or manage cash levels in the Fund’s portfolio. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zF9hiXRNfhe5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Special Equity Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_907_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zLpG418GDfU8">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember_z5xBZj3gKg05" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <div style="display: none"></div> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zuPaft8GCUg8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Consumer Discretionary sectors. Companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, Consumer Discretionary companies can be significantly affected by the performance of the overall economy, particularly the level of consumer inflation, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes. </span></p> <div style="display: none"></div> <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zxnw2HqzQ2tk" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Fund held a significant portion of its assets in cash and/or cash equivalents (i.e., repurchase agreements). Such an investment approach may result in lower returns and can expose the fund to inflation risk, as the purchasing power of cash may erode over time. Additionally, repurchase agreements involve certain risks, including the risk that the counterparty may default on its obligations. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s intensive value investment approach may not be successful and could result in portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “value” stocks may remain undervalued for long periods (particularly during times of low or declining interest rates), undervaluation may become more severe, or perceived undervaluation may actually represent intrinsic value. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values. </span></p> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_zpzClDg2fMsg" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract. </span></p> <div style="display: none"></div> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zcFjewE83HOa" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance  <p id="xdx_A88_eoef--PerformanceNarrativeTextBlock_zTFJjAILlQA8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_906_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zmnltlbVju62" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_z6nbXkx7gm6e">Past performance does not indicate how the Fund will perform in the future</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Investment</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_z71DaMMB4c6g">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Classes have substantially similar returns because they invest in the same portfolio of securities, differing only to the extent that the Classes have different expenses. The Service Class has higher expenses than the Investment Class. If Service Class’s expenses had been reflected, returns for that Class would have been lower.</span></p> The following performance information provides an indication of the risks of investing in the Fund Past performance does not indicate how the Fund will perform in the future The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Investment Class (%)+   Years Returns 2016 32.2% 2017 7.9% 2018 -9.9% 2019 12.6% 2020 7.4% 2021 22.5% 2022 -6.3% 2023 12.8% 2024 3.0% 2025 3.3% 0.322 0.079 -0.099 0.126 0.074 0.225 -0.063 0.128 0.030 0.033 <p id="xdx_A87_eoef--BarChartTableTextBlock_zRm9X7eMLK22" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><img alt="" src="img009_v1.jpg"/> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></p> <p id="xdx_A8D_eoef--BarChartClosingTextBlock_zt0A3CiPChWk" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_z36g4Zw3rBo8">highest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_90A_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zXB7Ig39wemj">19.38</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zFvB2U2RkWb8">6/30/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zxVik61xlgG8">lowest return </span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_906_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zsrhxdSsQpn1">-24.62</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zhw9j8gDeNPc">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> highest return 0.1938 2020-06-30 lowest return -0.2462 2020-03-31 <p id="xdx_A84_eoef--PerformanceTableNarrativeTextBlock_zfcUJo94ASU1" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Investment Class again used for illustrative purposes; after-tax returns differ by Class and would have been lower for the Service Class). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zhFkXk6AFo0g">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zguOPWc6hH1e">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_zevjWk6lEjf7">www.royceinvest.com </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member_z6nZOcl6nOPb">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 9pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 9pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 9pt"></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%) <div id="xdx_A88_eoef--PerformanceTableTextBlock_zvNAufIqgzKj"></div> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zRzUxtU7gKe9" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; width: 67%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_z0QT8q9Xawm4" style="border-bottom: rgb(179,179,179) 1pt solid; width: 10%; padding-right: 0.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zdiHujW8g1L9" style="border-bottom: rgb(179,179,179) 1pt solid; width: 11%; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zSv5FJOSDDh8" style="border-bottom: rgb(179,179,179) 1pt solid; width: 12%; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026016Member_zaRaNGwQ1aR7" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.34</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.63</span></td> <td style="padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.93</span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026016Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zXq6m0BunYX4" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.71</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.74</span></td> <td style="padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.42</span></td></tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026016Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_ze8fT05unAe3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.97</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.96</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.04</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026019Member_zNO5N4Cbqnz1" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.13</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.36</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.68</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026018Member_zlOqaGd2pcA3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.41</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.73</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.01</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zgg8K5lD3xB1" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Value Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zdHQv8d5DfQk" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.59</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.88</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.27</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zmVk4MshO1Lf" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"></p> 0.0334 0.0663 0.0793 0.0071 0.0374 0.0542 0.0397 0.0496 0.0604 0.0313 0.0636 0.0768 0.0341 0.0673 0.0801 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Small-Cap Total Return Fund Investment Goals  <p id="xdx_A88_eoef--ObjectivePrimaryTextBlock_zxa4XiI9yO0a" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Small-Cap Total Return Fund’s investment goals are long-term growth of capital and current income.</span></p> Fees and Expenses of the Fund  <p id="xdx_A87_eoef--ExpenseNarrativeTextBlock_zPkimG1NicH3" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below. <span id="xdx_91A_ecustom--C000026006Member_zoF78X0rwbMl" style="display: none; visibility: hidden">INVESTMENT CLASS</span></span></p> Shareholder Fees (fees paid directly from your investment)  <div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zJLeL7ooIGI9"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_z65cH0H8CPMl" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; width: 55%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49E_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026006Member_zQIsoIbUCMr6" style="border-bottom: rgb(179,179,179) 1pt solid; width: 15%; padding-left: 19.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026008Member_zHdMZuC41Rra" style="border-bottom: rgb(179,179,179) 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_91B_ecustom--C000026008Member_zfd0LZTjTklb">SERVICE CLASS</span></b></span></td> <td id="xdx_49B_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026009Member_zBg8mBKouvw3" style="border-bottom: rgb(179,179,179) 1pt solid; width: 15%; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_912_ecustom--C000026009Member_z7yOBYULGTMa">INSTITUTIONAL CLASS</span></b></span></td></tr> <tr id="xdx_408_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zF5FL5Qxu049" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 22.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40B_eoef--MaximumDeferredSalesChargeOverOther_dpn_zdDBrJdVZZs6" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 22.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_405_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zVP0yVTSEPqb" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 22.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 2.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_zuquu6IFksT2"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zGTvyudn9BUe" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_49E_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026006Member_zqCwbmpeqJ5l" style="display: none"> </td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026008Member_zdrZyuNinQY5" style="display: none"> </td> <td id="xdx_49B_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026009Member_zvkd43pHuBdc" style="display: none"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zf2kibEzyQDk" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; width: 55%; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; width: 15%; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zeFBYcDm5mW6" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zyhHVS3yjunc" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.23%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.35%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.14%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zdOZiltZqg6d" style="vertical-align: bottom"> <td style="border-bottom: #CCCCCC 1pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.23%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.60%</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.14%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_z8jiReq66Tud" style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.11%</span></td> <td style="padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.12%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_z81Zm9qBdeNg" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 0; text-align: center; padding-left: 22.05pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.23%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.49%</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.02%</span></td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"></p> 0.0100 0.0100 0.0100 0.0000 0.0025 0.0000 0.0023 0.0035 0.0014 0.0123 0.0160 0.0114 0.0000 -0.0011 -0.0012 0.0123 0.0149 0.0102 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zlCuKcKYdyX3" style="font: 11pt Times New Roman, Times, Serif; margin: 5pt 8pt 0pt 7pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 5pt 8pt 0pt 7pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Service and Institutional Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A8D_eoef--ExpenseExampleWithRedemptionTableTextBlock_z87ReWSIOiN" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5A_zD2AcFgsX7ca" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; background-color: rgb(243,243,244)" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom"> <td style="border-left: rgb(204,204,204) 1pt solid"> </td> <td id="xdx_49D_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026006Member_zRpXKtZMls4h" style="padding-right: 16.05pt; text-align: right"> </td> <td id="xdx_491_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026008Member_zYNmPfy2NAWk" style="padding-right: 13.05pt; text-align: right"> </td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026009Member_zLMagFCCTKha" style="border-right: rgb(204,204,204) 1pt solid; padding-right: 8.05pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; width: 46%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 18%; padding-right: 16.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; width: 18%; padding-right: 13.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; width: 18%; padding-right: 8.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zeVosaGVXW2h" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$125</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$152</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$104</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zxiPbXGWdLJ3" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$390</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$494</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$350</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_z25KPX1kiVK3" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$676</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$860</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$616</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zrNldW5OTem2" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 1pt solid; border-left: rgb(204,204,204) 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 32.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,489</span></td> <td style="border-bottom: rgb(204,204,204) 1pt solid; padding-right: 23.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,891</span></td> <td style="border-right: rgb(204,204,204) 1pt solid; border-bottom: rgb(204,204,204) 1pt solid; padding-right: 28.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,375</span></td></tr> </table> 125 152 104 390 494 350 676 860 616 1489 1891 1375 Portfolio Turnover <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_z1gKsTs7r55e" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_904_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zpEJfFM4jJXg">59</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.59 Principal Investment Strategy  <p id="xdx_A8B_eoef--StrategyNarrativeTextBlock_zocrJgxjX2d9" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in dividend-paying equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. Royce believes that regular dividend payments, and/or other methods of returning capital to shareholders such as issuer share repurchases, are often a positive signal that may indicate attractive attributes, including a stable business model, shareholder-friendly management, disciplined capital allocation practices, and a conservative financial culture. The Fund seeks to achieve its investment objectives by primarily investing in companies that pay regular dividends and/or return capital to shareholders. Royce favors companies that fall into one of three investment themes: </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">“Compounder” companies possess what Royce believes are outstanding business models, strong financial characteristics, and above-average growth potential. “Quality Value” companies have attractive profit margins, strong free cash flows, high returns on invested capital, and low leverage that also trade at what Royce believes are attractive valuations. “Special Situations” are companies that may have complex business models and/or require a catalyst for growth, such as spin offs, turnarounds, and/or unrecognized asset values. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_znPkeo6gb7L6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 65% of its net assets in dividend-paying equity securities, under normal circumstances. In addition, the Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 65% of its net assets in dividend-paying equity securities, under normal circumstances. In addition, the Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zPxYvYUzqj5g" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Total Return Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90B_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--RiskAxis__oef--RiskLoseMoneyMember_znBpJ56DMiPh">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and unpredictably, and you could lose money over short and/or long periods of time. </span></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember_zqMvI3H1SiU1" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. There is no assurance that there will be net investment income to distribute and/or that the Fund will achieve its investment goals. </span></p> <div style="display: none"></div> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zQROahd5qB79" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Financials and Industrials sectors. Companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets. In addition, Industrials sector companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</span></p> <div style="display: none"></div> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zfl3zrdhhEH8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar. </span></p> <div style="display: none"></div> <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zqwTJXdqS951" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, there is no guarantee that the “Special Situation” companies will take the</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">necessary steps to increase the value of their stocks or that the steps taken will have the intended results. Further, selecting stocks based, in part, on a history of paying dividends may cause the Fund to underperform relative to similar funds that do not select stocks on this basis. Finally, various factors may lead a company to unexpectedly reduce or eliminate dividend payments, which could adversely affect the market price of its securities. Therefore, securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_zKdoJTEN3xwa" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract. </span></p> <div style="display: none"></div> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_z9boCFEpTwyc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance  <p id="xdx_A85_eoef--PerformanceNarrativeTextBlock_zegHIgqRmVvb" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_902_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_z2uJW9VCEGya" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_z2HcmMOORr46" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Past performance does not indicate how the Fund will perform in the future.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Investment Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zbFJzuDHEtB2">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Classes have substantially similar returns because they invest in the same portfolio of securities, differing only to the extent that the Classes have different expenses. The Service Class has higher expenses than the Investment Class. If Service Class’s expenses had been reflected, returns for that Class would have been lower.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Investment Class (%) <p id="xdx_A87_eoef--BarChartTableTextBlock_zM8O5i5ain6k" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-size: 8pt"> </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-size: 8pt"><img alt="" src="img010_v1.jpg"/> </span></p> 0.259 0.137 -0.125 0.235 0.038 0.258 -0.133 0.241 0.100 0.024 <p id="xdx_A8F_eoef--BarChartClosingTextBlock_zuY6BFy3OMy2" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zT7mPM4xzuBa">highest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_90A_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zBwdFBIEvMK2">25.25</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_z94pf7fEOVw1">12/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zFCdRWhgUfPl">lowest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_906_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zlwRvLpTyX6d">-30.27</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zkBNTpaLVTWc">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> highest return 0.2525 2020-12-31 lowest return -0.3027 2020-03-31 <p id="xdx_A8E_eoef--PerformanceTableNarrativeTextBlock_zR6MI7re9ju2" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Investment Class again used for illustrative purposes; after-tax returns differ by Class and would have been lower for the Service Class). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zPTMJPfvI7l6">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zmQBDtHEq5J6">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at www. <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zaly1Kuhzzi1">royceinvest.com</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member_zZMJotLjOIm8">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. royceinvest.com (800) 841-1180 Average Annual Total Returns  As of 12/31/25 (%)  <div id="xdx_A87_eoef--PerformanceTableTextBlock_zeuEVHaQpFlf"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_z5xxNLFhpYY" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; width: 67%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_z4bVp4U1oR8c" style="border-bottom: rgb(179,179,179) 1pt solid; width: 11%; padding-right: 0.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zG8zOulm3q6f" style="border-bottom: rgb(179,179,179) 1pt solid; width: 11%; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zq7grOOokMDb" style="border-bottom: rgb(179,179,179) 1pt solid; width: 11%; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026006Member_zhJ82OJQXbJ2" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.43</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.82</span></td> <td style="padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.37</span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026006Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zHv3miEXdP3j" style="vertical-align: bottom"> <td style="padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.30</span></td> <td style="padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.02</span></td> <td style="padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.72</span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026006Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zPhaY9I6qt1l" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif">Return After Taxes on Distributions and Sale of <span style="font-size: 8pt">Fund Shares</span></span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.44</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.24</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.75</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026008Member_zTlHJk2yLwu6" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.13</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.53</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.07</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026009Member_z5MrBfxCHkMb" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.54</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.93</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.49</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_z0DEDQSIVCjb" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Value Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_z6ja4yuL6nFg" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.59</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.88</span></td> <td style="border-bottom: #CCCCCC 1pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.27</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zWe88NCCUq7g" style="vertical-align: bottom"> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 1.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: rgb(204,204,204) 2pt solid; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.0243 0.0882 0.0937 -0.0030 0.0502 0.0572 0.0344 0.0624 0.0675 0.0213 0.0853 0.0907 0.0254 0.0893 0.0949 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Small-Cap Value Fund Investment Goal <p id="xdx_A86_eoef--ObjectivePrimaryTextBlock_ztz1qqQ7Fjbe" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Small-Cap Value Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund <p id="xdx_A87_eoef--ExpenseNarrativeTextBlock_zfhyixsvUUSg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A8E_eoef--ShareholderFeesTableTextBlock_zf909lf6jtUj" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zTMNCZ77m8l8" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; vertical-align: bottom; visibility: hidden"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; padding-top: 5pt; padding-bottom: 2pt; visibility: hidden"> </td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--ClassAxis__custom--C000038082Member_zTUUu2QUr77l" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; text-align: center; padding-top: 5pt; padding-bottom: 2pt; visibility: hidden"> </td> <td id="xdx_495_20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--ClassAxis__custom--C000026025Member_z3IGqzk6KSHh" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; display: none; text-align: center; padding-top: 5pt; padding-bottom: 2pt; visibility: hidden"> </td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 64%; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span id="xdx_91D_ecustom--C000038082Member_zML31YvvU6w1" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span id="xdx_91F_ecustom--C000026025Member_zxLf8C4uE9Ib" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td></tr> <tr id="xdx_40A_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_z1AceUW1fi89" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40B_eoef--MaximumDeferredSalesChargeOverOther_dpn_zl0OcchsAUb9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40B_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zjuONOD5BwSe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <p id="xdx_A82_eoef--AnnualFundOperatingExpensesTableTextBlock_zgDQieHfCBu2" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A50_z7RDNl0sBL25" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--ClassAxis__custom--C000038082Member_zIuT0vnNdWpj" style="display: none"> </td> <td id="xdx_495_20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--ClassAxis__custom--C000026025Member_zK4GWyUyqwcd" style="display: none"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_znRJyEIDhvc1" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 64%; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 18%; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 18%; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zrTaVhPAlWs9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zyZOngiLpRjl" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.38%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.37%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zwj2Fsj4G6b2" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.38%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.62%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zj0VxfnmX7x1" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.14%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.13%</span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zMS2VaSrO1x2" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 5pt; padding-bottom: 2pt; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.24%</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.49%</span></td></tr> </table> 0.0100 0.0100 0.0000 0.0025 0.0038 0.0037 0.0138 0.0162 -0.0014 -0.0013 0.0124 0.0149 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zjTXhocECzXg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Investment and Service Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A8D_eoef--ExpenseExampleWithRedemptionTableTextBlock_zzOW2wb2Ysw8" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5B_zW2Xz1YsOhKe" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; background-color: rgb(241,241,242)" summary="xdx: Disclosure - Expense Example"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--ClassAxis__custom--C000038082Member_zWGJegkPTaC6" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td colspan="2" id="xdx_497_20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--ClassAxis__custom--C000026025Member_zIDSs2JTNhx1" style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zyLdD8EVRaja" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-right: 5pt; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$126</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; width: 6%"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$152</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid; width: 6%"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zLireepvxaea" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$423</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$498</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zMargbP5oK28" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$742</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$869</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zYrQr1bXLlPk" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,645</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,911</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid"><span style="font-size: 8pt"> </span></td></tr> </table> 126 152 423 498 742 869 1645 1911 Portfolio Turnover <p id="xdx_A8B_eoef--PortfolioTurnoverTextBlock_z5dofx6dAQM2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90D_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zk9NRsMGE1ce">51</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.51 Principal Investment Strategy <p id="xdx_A80_eoef--StrategyNarrativeTextBlock_zrhWr00IQz38" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. Royce focuses on companies that it believes also possess financial strength, a strong business model, and the ability to generate and effectively allocate excess free cash flow. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zX0D0OSX9tC7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zD7fmniz6aWa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Value Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_907_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zxFpa71V3S0d">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z34oAv7BPVWf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <div style="display: none"></div> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zsSUOaz0Octd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Consumer Discretionary and Financials sectors. Consumer Discretionary companies can be significantly affected by the performance of the overall economy, particularly the level of consumer inflation, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes. Companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p> <div style="display: none"></div> <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zLNcHj3bdNF" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <div style="display: none"></div> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zdio22rK3Hwk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “value” stocks may remain undervalued for long periods (particularly during times of low or declining interest rates), undervaluation may become more severe, or perceived undervaluation may actually represent intrinsic value. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_zCPqKfnVsFT5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <div style="display: none"></div> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zSpZjdjw1Tfb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> Performance <p id="xdx_A8A_eoef--PerformanceNarrativeTextBlock_zCz3lgE3uEHf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span id="xdx_90C_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zDHWzcrBY38f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zDZGa0b7aoT4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Past performance does not indicate how the Fund will perform in the future.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Service Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_z2dfKfaKQrO7">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The returns differ only to the extent that the Classes have different expenses because all Classes invest in the same portfolio of securities.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns  Service Class (%) <p id="xdx_A87_eoef--BarChartTableTextBlock_zwoyWMZ5JdN9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><img alt="" src="img011_v1.jpg"/> </p> 0.211 0.053 -0.072 0.182 -0.065 0.282 -0.101 0.261 0.032 0.067 <p id="xdx_A8B_eoef--BarChartClosingTextBlock_zN4gA1K6UFnk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_z1zN68a9SAm2">highest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_908_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zkPN7ktPEnW6">26.92</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zXPVmTUHVAP">12/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zI28aChpBUHf">lowest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_90A_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_znNtC2wa2CCf">-39.52</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_z7tfQVUb4bvj">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> highest return 0.2692 2020-12-31 lowest return -0.3952 2020-03-31 <p id="xdx_A89_eoef--PerformanceTableNarrativeTextBlock_z8m2sCxkP5z" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Service Class again used for illustrative purposes). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zPB7HVz6xlUf">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_ztzJkbvDXD65">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zvcPR3Pj7cUa">www.royceinvest.com</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009516Member_zLOBSFeiSgH4">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns  As of 12/31/25 (%)  <div id="xdx_A8A_eoef--PerformanceTableTextBlock_zrqNu9OIjRf3"></div> <table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zhoYupmp2bBa" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 55%; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zknAqlmRkmBj" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_z1SQvf02Fayl" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zAx7JJozGck2" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026025Member_zJxsWLT7q3Wi" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.68</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.88</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.68</span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026025Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zDbGL7ILgLZg" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.42</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.13</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.11</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026025Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zTuWUsNuOPEh" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.69</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.69</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.94</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000038082Member_zVCVzYCXEChl" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.03</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.16</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.94</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zMLGX3Gd6tE3" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Value Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zsjiA2YoGqce" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.59</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.88</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.27</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zl0b6YE5ucdi" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.0668 0.0988 0.0768 0.0442 0.0813 0.0611 0.0569 0.0769 0.0594 0.0703 0.1016 0.0794 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Smaller-Companies Growth Fund Investment Goal <p id="xdx_A8D_eoef--ObjectivePrimaryTextBlock_zoh3FF1EiPEf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Smaller-Companies Growth Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zD5ZUrIio84d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <div id="xdx_A88_eoef--ShareholderFeesTableTextBlock_zWSfCiOrLnyb"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_ztFYHYa4xjz4" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 46%; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000038083Member_zWQCeztWRv96" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; padding-left: 19.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_912_ecustom--C000038083Member_zBS6idZgqoY8">INVESTMENT CLASS</span></b></span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000026028Member_zB6Qk44SKQ9c" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_918_ecustom--C000026028Member_zBopHZLwyyrf">SERVICE CLASS</span></b></span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000026026Member_zobzjfmIykc9" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; padding-left: 0.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_918_ecustom--C000026026Member_zLpJpqNDQhr5">INSTITUTIONAL CLASS</span></b></span></td></tr> <tr id="xdx_409_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_znknTP8Jzz6c" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 22.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 2.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_402_eoef--MaximumDeferredSalesChargeOverOther_dpn_z1cZdHYz92M6" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 22.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 2.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_407_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_z3CCbQYc1dMd" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 22.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 2.05pt; text-align: center; padding-top: 5pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)  <div id="xdx_A87_eoef--AnnualFundOperatingExpensesTableTextBlock_zkSpXUVmSL6f"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zQsAk9q8fUJ3" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr> <td> </td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000038083Member_zvjIwao8e4Jj"> </td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000026028Member_zJAnaqWnpnWf"> </td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000026026Member_zje9edDIz7u5"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zG20PG5P9Si9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 46%; padding-left: 1pt; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 18%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zCoVti7TXk62" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zDiBVV46w127" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.28%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.32%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.50%</span></td></tr> <tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zuo3n3XFFfu" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 13pt; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.28%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.57%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.50%</span></td></tr> <tr id="xdx_404_eoef--FeeWaiverOrReimbursementOverAssets_zSYTq0tiDPMe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.26%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.08%</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.48%</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 13pt; padding-top: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zApmP3zEuI6c" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 13pt; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">expense reimbursements</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.02%</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.49%</span></td> <td style="border-bottom: rgb(209,211,212) 1.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.02%</span></td></tr> </table> 0.0100 0.0100 0.0100 0.0000 0.0025 0.0000 0.0028 0.0032 0.0050 0.0128 0.0157 0.0150 -0.0026 -0.0008 -0.0048 0.0102 0.0149 0.0102 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zgaGt0BsE8Bk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Investment, Service, and Institutional Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A8D_eoef--ExpenseExampleWithRedemptionTableTextBlock_zBPpKUoK1Jf" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A58_zdGjQ6RoKTo3" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; background-color: rgb(241,241,242)" summary="xdx: Disclosure - Expense Example"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td colspan="2" id="xdx_491_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000038083Member_zczXudTAoq96" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td colspan="2" id="xdx_49F_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000026028Member_zhCsnwBn5Dv8" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td colspan="2" id="xdx_497_20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--ClassAxis__custom--C000026026Member_zqAJdctrYFnk" style="border-right: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td colspan="2" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>INVESTMENT CLASS</b></span></td> <td colspan="2" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>SERVICE CLASS</b></span></td> <td colspan="2" style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>INSTITUTIONAL CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zYOwNDwLEX0f" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; width: 46%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1 Year</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$104</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; width: 6%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$152</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; width: 6%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$104</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid; width: 6%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zxSh4KOabqk7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3 Years</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$380</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$488</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$427</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zoKU0C8nIGL6" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">5 Years</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$677</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$848</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$773</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zI1oxIeIUxgk" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; border-left: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">10 Years</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,522</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,861</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$1,750</span></td> <td style="border-right: rgb(209,211,212) 1pt solid; border-bottom: rgb(209,211,212) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"> </span></td></tr> </table> 104 152 104 380 488 427 677 848 773 1522 1861 1750 Portfolio Turnover <p id="xdx_A8B_eoef--PortfolioTurnoverTextBlock_zQYTJ9y5kbxf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90C_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zA74pf82RhKc">75</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.75 Principal Investment Strategy <p id="xdx_A88_eoef--StrategyNarrativeTextBlock_zug2kThHhVR8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of companies with stock market capitalizations up to $7.5 billion that it believes have above-average growth prospects. Royce also considers the extent to which such companies are trading below its estimate of their current worth and/or have the potential for higher internal rates of return or improved profit margins.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zBwz6XMzO52i" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of companies with stock market capitalizations up to $7.5 billion, under normal circumstances. The Fund may continue to hold or, in some cases, build positions in companies with market capitalizations of more than $7.5 billion. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of companies with stock market capitalizations up to $7.5 billion, under normal circumstances. The Fund may continue to hold or, in some cases, build positions in companies with market capitalizations of more than $7.5 billion. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zA7Cy7KiOqe1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Smaller-Companies Growth Fund is subject to market risk— the possibility that common stock prices will decline over short and/ or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_909_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zTSg18jqsGqf">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span> </p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember_zhbnd2Yk7Q7d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of equity securities of companies with stock market capitalizations up to $7.5 billion are generally more volatile than those of larger-cap securities. In addition, because these securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <div style="display: none"></div> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zzC7smoDsFO7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Information Technology and Health Care sectors. Information Technology sector companies can be significantly affected by the obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. Health Care sector companies are subject to government regulation and reimbursement rates, as well as government approval of products and services, which could have a significant effect on price and availability, and can be significantly affected by product liability claims, rapid obsolescence, and patent expirations.</span> </p> <div style="display: none"></div> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zq5irm4pQyGl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span> </p> <div style="display: none"></div> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zoTL9B6pifqd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s growth prospects and/or current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “growth” stocks are typically more sensitive to market movements and high or increasing interest rates because their market prices tend to reflect future expectations. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values. </span></p> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_z4N04dGjVUDl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract. </span></p> <div style="display: none"></div> <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zUy8y8KSxpE5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance <p id="xdx_A85_eoef--PerformanceNarrativeTextBlock_zMOK7hXPWbmh" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span id="xdx_903_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_z5f8pRroJhKc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zVGKCEpFFcT1">Past performance does not indicate how the Fund will perform in the future.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Service Class used for illustrative purposes—returns differ by Class). <span id="xdx_907_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zwWikfprgqgh">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Growth Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The returns differ only to the extent that the Classes have different expenses because all Classes invest in the same portfolio of securities.</span></p> The following performance information provides an indication of the risks of investing in the Fund Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Growth Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns  Service Class (%) <p id="xdx_A87_eoef--BarChartTableTextBlock_z2EsjkEe8oLi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><img alt="" src="img012_v1.jpg"/> </p> 0.094 0.178 -0.102 0.237 0.493 0.078 -32.4 0.170 0.218 0.193 <p id="xdx_A88_eoef--BarChartClosingTextBlock_zJkpJvpraULb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zi8M2z4zXOX5">highest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_z02W01PsIK6e">33.99</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zEG45rfvvoWk">6/30/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zWhD9Lx0TZL2">lowest return</span></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_901_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zfVn95p7zyu1">-23.78</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_z0BQPK51V1G">3/31/20</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">).</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> highest return 0.3399 2020-06-30 lowest return -0.2378 2020-03-31 <p id="xdx_A89_eoef--PerformanceTableNarrativeTextBlock_zmppd9uJSYl7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Service Class again used for illustrative purposes). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_z7U52dqLuRnk">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zJhUs4xKLFIe">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zq67UuLNikZh">www.royceinvest.com</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009517Member_zStvqmpfwdbf">(800) 841- 1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841- 1180 Average Annual Total Returns  As of 12/31/25 (%)  <div id="xdx_A8D_eoef--PerformanceTableTextBlock_ziLd7bAEPqj2"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_z1u60TVHahL9" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 55%; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_zpSdGcdXrgSi" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zO5DdVEiulOi" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zQZoFPaIyTak" style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026028Member_zC9OFXGLhYQ5" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19.34</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.39</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.22</span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026028Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zIPqWBB9Bvi8" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.67</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.62</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.80</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026028Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z0SNoofKsyv7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.76</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.82</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.28</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000038083Member_zCEySlZ00bG7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19.94</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.71</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.54</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Institutional Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026026Member_zKiAUqXdFsgb" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19.80</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.72</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.57</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zy7BVkiiMOBj" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Growth Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000GrowthIndexMember_zqLv41TjvLl9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.01</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.18</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.57</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zbx6WjyHU214" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: rgb(209,211,212) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.1934 0.0439 0.1022 0.1467 0.0162 0.0680 0.1376 0.0282 0.0728 0.1994 0.0471 0.1054 0.1980 0.0472 0.1057 0.1715 0.1315 0.1429 0.1301 0.0318 0.0957 0.1281 0.0609 0.0962 Royce SMid-Cap Total Return Fund Investment Goals <p id="xdx_A84_eoef--ObjectivePrimaryTextBlock_zO7oMHbp0ZSk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce SMid-Cap Total Return Fund’s investment goals are long-term growth of capital and current income.</span></p> Fees and Expenses of the Fund <p id="xdx_A89_eoef--ExpenseNarrativeTextBlock_zv7AEe7FDDFf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A8F_eoef--ShareholderFeesTableTextBlock_zTyStnrglelh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p> <div></div> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_z2ymDTDgqptc" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; width: 56%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49F_20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--ClassAxis__custom--C000054171Member_z1WSArbsJTog" style="border-bottom: rgb(179,179,179) 1pt solid; width: 29%; padding-left: 65.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_91A_ecustom--C000054171Member_z1yM3Gclwcy3">INVESTMENT CLASS</span></b></span></td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--ClassAxis__custom--C000026035Member_zJcDEfxLUlCj" style="border-bottom: rgb(179,179,179) 1pt solid; width: 15%; padding-right: 1.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b><span id="xdx_913_ecustom--C000026035Member_zNlxquu3l1xc">SERVICE CLASS</span></b></span></td></tr> <tr id="xdx_40C_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zhqKySXOQv8a" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_40D_eoef--MaximumDeferredSalesChargeOverOther_dpn_zeqCIoChjP59" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr id="xdx_405_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_zRGDLZMGcXKb" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 2pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; padding-left: 67.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> </table> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <p id="xdx_A8E_eoef--AnnualFundOperatingExpensesTableTextBlock_zZWu0FG5m3Yh" style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zlYX2u4WO6Ua" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_49F_20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--ClassAxis__custom--C000054171Member_ziLKgoZBx0c" style="display: none"> </td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--ClassAxis__custom--C000026035Member_zaHcLDuBwiwc" style="display: none"> </td></tr> <tr id="xdx_40B_eoef--ManagementFeesOverAssets_dpn_zkGsGHLrS844" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt; width: 56%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center; width: 29%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.85%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.85%</span></td></tr> <tr id="xdx_40E_eoef--DistributionAndService12b1FeesOverAssets_dpn_zeaNKYertibc" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.25%</span></td></tr> <tr id="xdx_40D_eoef--OtherExpensesOverAssets_dpn_zvHXw6MYBaGi" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.46%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.56%</span></td></tr> <tr id="xdx_40B_eoef--ExpensesOverAssets_dpn_z980ux2jo0G7" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center"><span style="font-size: 8pt">1.31%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt">1.66%</span></td></tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dp_zODBTvAZdmp3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 1pt"><span style="font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 67.05pt; text-align: center"><span style="font-size: 8pt">-0.22%</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center"><span style="font-size: 8pt">-0.32%</span></td></tr> <tr id="xdx_407_eoef--NetExpensesOverAssets_dpn_zNzh7YquYK1" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 2pt solid; padding-left: 13pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; padding-left: 67.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.09%</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.34%</span></td></tr> </table> 0.0085 0.0085 0.0000 0.0025 0.0046 0.0056 0.0131 0.0166 -0.0022 -0.0032 0.0109 0.0134 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_z8NsVMXLqeMk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7pt"><span style="font: 9pt Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7pt"><span style="font: 9pt Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7pt; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses </span><span style="font-family: Arial, Helvetica, Sans-Serif">(net of fee waivers and/or expense reimbursements for the Investment and Service Classes in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A89_eoef--ExpenseExampleWithRedemptionTableTextBlock_zTTDNp2H6VGa" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A55_zapsPEZRCwa7" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; width: 70%; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_496_20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--ClassAxis__custom--C000054171Member_zasJEWlu2CVh" style="border-bottom: #B3B3B3 1pt solid; width: 15%; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>INVESTMENT CLASS</b></span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--ClassAxis__custom--C000026035Member_zqFsOJkjB9R" style="border-right: rgb(179,179,179) 1pt solid; border-bottom: #B3B3B3 1pt solid; width: 15%; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>SERVICE CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zpX6RiIfwbqd" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 6pt; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$111</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: #B3B3B3 1pt solid; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$136</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zPT53dKMiVzc" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 6pt; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$394</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: #B3B3B3 1pt solid; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$492</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zpFwiCLE9fo7" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 6pt; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$697</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: #B3B3B3 1pt solid; text-align: center; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$872</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_z03gNmzPr2T4" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 6pt; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-right: 9pt; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,560</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: #B3B3B3 1pt solid; text-align: center; padding-right: 9pt; background-color: rgb(243,243,244)"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,939</span></td></tr> </table> 111 136 394 492 697 872 1560 1939 Portfolio Turnover <p id="xdx_A85_eoef--PortfolioTurnoverTextBlock_zXobBCyIto5a" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_906_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zD33llFxH4o6">47</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the average value of its portfolio.</span></p> 0.47 Principal Investment Strategy <p id="xdx_A8D_eoef--StrategyNarrativeTextBlock_zODexwCJowcj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of smid-cap companies that pay dividends and/or return capital to shareholders through other methods that Royce believes are trading below its estimate of their current worth. Smid-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2500® Index at the time of its most recent reconstitution. Royce believes that regular dividend payments, and/ or other methods of returning capital to shareholders such as issuer share repurchases, are often a positive signal that may indicate attractive attributes, including a stable business model, shareholder-friendly management, disciplined capital allocation practices, and a conservative financial culture. The Fund seeks to achieve its investment objectives by primarily investing in companies that pay regular dividends and/ or return capital to shareholders. Royce favors companies that fall into one of three investment themes: “Compounder” companies possess what Royce believes are outstanding business models, strong financial characteristics, and above-average growth potential. “Quality Value” companies have attractive profit margins, strong free cash flows, high returns on invested capital, and low leverage that also trade at what Royce believes are attractive valuations. “Special Situations” are companies that may have complex business models and/or require a catalyst for growth, such as spin offs, turnarounds, and/or unrecognized asset values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_z0hYxXAOUzsh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund invests at least 80% of its net assets in equity securities of smid-cap companies, under normal circumstances. In addition, the Fund normally invests at least 65% of its net assets in equity securities issued by companies that make dividend payments to shareholders. Under normal circumstances, the Fund also invests at least 80% of its net assets in equity securities issued by companies that make dividend payments to shareholders and/or employ other methods of returning capital to shareholders (e.g., issuer share repurchases). Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of smid-cap companies, under normal circumstances. In addition, the Fund normally invests at least 65% of its net assets in equity securities issued by companies that make dividend payments to shareholders. Under normal circumstances, the Fund also invests at least 80% of its net assets in equity securities issued by companies that make dividend payments to shareholders and/or employ other methods of returning capital to shareholders (e.g., issuer share repurchases). Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zE6PvQf9PD04" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce SMid-Cap Total Return Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; </span><span style="font-family: Times New Roman, Times, Serif">and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90D_eoef--RiskTextBlock_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member__oef--RiskAxis__oef--RiskLoseMoneyMember_z3Om165DDhc9">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p> <div style="display: none"></div> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SMidCapRiskMember_z0i1H9Vbhkta" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of equity securities of smid-cap companies are generally more volatile than those of larger-cap securities. In addition, because these securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. There is no assurance that there will be net investment income to distribute and/or that the Fund will achieve its investment goals.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <div style="display: none"></div> <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zBwLdKclij4d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Financials and Industrials sectors. Companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets. In addition, companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"></p> <div style="display: none"></div> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember_zR4whhpwKdFi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify"></p> <div style="display: none"></div> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_z1DFsr7bUaUf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, there is no guarantee that the “Special Situation” companies will take the necessary steps to increase the value of their stocks or that the steps taken will have the intended results. Further, selecting stocks based, in part, on a history of paying dividends may cause the Fund to underperform relative to funds that do not select stocks on this basis. Finally, various factors may lead a company to unexpectedly reduce or eliminate dividend payments, which could adversely affect the market price of its securities. Therefore, securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify; text-indent: 9pt"></p> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember_zgyXnzCSYRz1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify; text-indent: 9pt"></p> <div style="display: none"></div> <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_z9d7Ve62yqHa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance <p id="xdx_A81_eoef--PerformanceNarrativeTextBlock_zF1Q4T5dcm84" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; text-align: justify"><span id="xdx_909_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zvx55WVwsAUl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following performance information provides an indication of the risks of investing in the Fund</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. <span id="xdx_906_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zYEwD0p8aZ6c">Past performance does not indicate how the Fund will perform in the future</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Service Class used for illustrative purposes—returns differ by Class). <span id="xdx_902_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zM5LSOfCg8Wi">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2500 Index and Russell 2500 Value Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The returns differ only to the extent that the Classes have different expenses because all Classes invest in the same portfolio of securities.</span></p> The following performance information provides an indication of the risks of investing in the Fund Past performance does not indicate how the Fund will perform in the future The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2500 Index and Russell 2500 Value Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns  Investment Class (%) <p id="xdx_A87_eoef--BarChartTableTextBlock_zLRBMEZ6HUjj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"> <img alt="" src="img013_v1.jpg"/></p> 0.164 0.217 -0.162 0.298 0.045 0.201 -0.136 0.229 0.196 0.040 <p id="xdx_A8A_eoef--BarChartClosingTextBlock_zLf6hTp0pxUh" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">During the period shown in the bar chart, the <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zOEZJEutOcD7">highest return</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_905_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zLszdiVCq3Yf">21.83</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">% (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zz4Bnq3muDIe">6/30/20</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">) and the <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zt7SPRQvDyh4">lowest return</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">for a calendar quarter was <span id="xdx_906_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_znWz895oSKIa">-30.72</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">% (quarter ended <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zyPxuiVIovEc">3/31/20</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">).</span></p> highest return 0.2183 2020-06-30 lowest return -0.3072 2020-03-31 <p id="xdx_A8F_eoef--PerformanceTableNarrativeTextBlock_z23yGUOoq612" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns (Service Class again used for illustrative purposes). In calculating these figures, <span id="xdx_90C_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zFS48dvfpELe">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_z95j5bKbeIqk">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current month-end performance information for all share classes may be obtained at <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zqQyS3dpuqJ3">www.royceinvest.com</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009522Member_zODDlAhvAgAd">(800) 841-1180</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%)  <div id="xdx_A86_eoef--PerformanceTableTextBlock_zb0SmSrlnPR4"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zFUJeHnMVNx6" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 68%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_z6fLW1quG0Bc" style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 10%; padding-right: 1.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_z6oHU19uhKTe" style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 11%; padding-right: 0.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zIEDIc9T3fn3" style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 11%; padding-right: 1.05pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Service Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026035Member_zizkJzpzRQg6" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.00</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.67</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.81</span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026035Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z3zRI1UxJK83" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-13.12</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.67</span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.39</span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026035Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z4PaITRJzxHi" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.38</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.11</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.27</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Investment Class</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000054171Member_zmRW5f9B1ild" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.17</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.94</span></td> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.09</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zg3NcaoHPI6j" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: #CCCCCC 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: #CCCCCC 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2500 Index</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2500IndexMember_zv7KmBxpZgda" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11.91</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.26</span></td> <td style="border-bottom: rgb(179,179,179) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2500 Value Index*</b></span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="font: 10pt Arial, Helvetica, Sans-Serif"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2500ValueIndexMember_zd9qeSPHOXda" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 2pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes) <span><sup id="xdx_F4F_zHlm2Os8Reqd">*</sup></span></span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.73</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.02</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 4.05pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.72</span></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"></p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0%"></td><td style="width: 1%; text-align: left"><span id="xdx_F0A_zFhzKyKqJCa3" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">*</span></td><td style="text-align: justify; width: 99%"><span id="xdx_F15_zJaREVV58242" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">As of May 1, 2025, the Russell 2500 Value Index replaced the Russell 2000 Index as a securities market index for performance comparison purposes because the Russell 2500 Value Index better reflects the particular market segment in which the Fund primarily invests than the Russell 2000 Index.</span></td> </tr></table> 0.0400 0.0967 0.0981 -0.1312 0.0367 0.0539 0.1238 0.0711 0.0727 0.0417 0.0994 0.1009 0.1715 0.1315 0.1429 0.1191 0.0726 0.1040 0.1273 0.1002 0.0972 Royce Micro-Cap Fund Investment Goal <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zoRcvqsxl5mk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Micro-Cap Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zsA5enWA82pk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> <p id="xdx_A88_eoef--ShareholderFeesTableTextBlock_zouOwJAEKhQi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zXkU2vc4Kwvf" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td id="xdx_985_eoef--ShareholderFeesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zVSDVotdKA3i" style="border-top: Black 1pt solid; width: 85%; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>Shareholder Fees</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(fees paid directly from your investment)</span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zeJ7HkaYuaj8" style="border-top: Black 1pt solid; width: 15%; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: #BFBFBF 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span><span id="xdx_919_ecustom--C000025995Member_zGyDahMiCaA7"><span id="xdx_91E_ecustom--RoyceMicroCapFundConsultantClassMember_zmCFfvX4AyIa" style="display: none; visibility: hidden">Royce Micro-Cap Fund - Consultant Class</span></span></td> <td style="border-bottom: #BFBFBF 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_409_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_pid_dp_uRatio_z4qn6qh8BXbc" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum deferred sales charge on purchases held for less than 365 days (as a percentage of net asset value at the time of purchase or</span></td> <td style="text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--MaximumDeferredSalesChargeOverOther_dp_zMwzg9BT97u3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">redemption, whichever is less)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_409_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_zbDBm2tpPgF6" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 2pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</span></td></tr> </table> Shareholder Fees (fees paid directly from your investment) 0.0000 0.0100 0.0000 <p id="xdx_A87_eoef--AnnualFundOperatingExpensesTableTextBlock_zYYmb8tHpHGe" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_z7icjK2X6eKf" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_493_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zTWcb4YSE7o6" style="border-bottom: Black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td id="xdx_984_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zrwCsod0dfT5" style="padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(expenses that you pay each year as a percentage of the value of your investment)</span></td> <td style="text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_407_eoef--ManagementFeesOverAssets_dp_zPRoiUC42zxe" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Management fees</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_401_eoef--DistributionAndService12b1FeesOverAssets_dp_zgUpgWEDHQf3" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.00%</span></td></tr> <tr id="xdx_407_eoef--OtherExpensesOverAssets_dp_zgo44lRDXoS" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other expenses</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.49%</span></td></tr> <tr id="xdx_404_eoef--ExpensesOverAssets_dp_zQCv0l4WK6Rh" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 0.125in; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.49%</span></td></tr> <tr id="xdx_406_eoef--FeeWaiverOrReimbursementOverAssets_dp_zhip2Vmn0IP5" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-0.25%</span></td></tr> <tr id="xdx_406_eoef--NetExpensesOverAssets_iT_dp_zKvYYQQVjsch" style="vertical-align: bottom"> <td style="border-bottom: rgb(179,179,179) 2pt solid; padding-left: 0.125in; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: rgb(179,179,179) 2pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.24%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 4pt"> </span></p> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0100 0.0100 0.0049 0.0249 -0.0025 0.0224 April 30, 2027 Example <p id="xdx_A84_eoef--ExpenseExampleNarrativeTextBlock_zOZWm5JLZPjc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5 % return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A83_eoef--ExpenseExampleWithRedemptionTableTextBlock_zqJOAtVIqxG6" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A56_dU_z9SM2cXrdAAa" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom; background-color: rgb(243,243,244)"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; width: 85%; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_493_20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zRFIlINqmzE2" style="border-right: rgb(179,179,179) 1pt solid; border-bottom: rgb(179,179,179) 1pt solid; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_z1YvHWIGfkF7" style="vertical-align: bottom; background-color: rgb(243,243,244)"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1 Year</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: rgb(179,179,179) 1pt solid; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$227</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zgoCbzuUbcp6" style="vertical-align: bottom; background-color: rgb(243,243,244)"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3 Years</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: rgb(179,179,179) 1pt solid; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$752</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zfOjVdSGngRa" style="vertical-align: bottom; background-color: rgb(243,243,244)"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5 Years</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: rgb(179,179,179) 1pt solid; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1,303</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zCon8X39AsCh" style="vertical-align: bottom; background-color: rgb(243,243,244)"> <td style="border-bottom: rgb(179,179,179) 1pt solid; border-left: rgb(179,179,179) 1pt solid; padding-left: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10 Years</span></td> <td style="border-right: rgb(179,179,179) 1pt solid; border-bottom: rgb(179,179,179) 1pt solid; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$2,807</span></td></tr> </table> 227 752 1303 2807 Portfolio Turnover <p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_zaM9u3JGqBj1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zvyZ1x54JeHc">38</span>% of the average value of its portfolio.</span></p> 0.38 Principal Investment Strategy <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zs7yzLu3gzXg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of micro-cap companies. Micro-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell Microcap^® Index at the time of its most recent reconstitution. Royce uses multiple investment themes and offers wide exposure to micro-cap stocks by investing in companies with strong fundamentals and/or prospects selling at prices that Royce believes do not fully reflect these attributes. Royce considers companies with strong balance sheets, attractive growth prospects, and/or the potential for improvement in cash flow levels and internal rates of return, among other factors. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zVEhaZm3Yl83">The Fund invests at least 80% of its net assets in equity securities of micro-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 80% of its net assets in equity securities of micro-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zEdvweGiTcDh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with any mutual fund that invests primarily in common stocks, Royce Micro-Cap Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90A_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zLgTeYoD6dAk">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MicroCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zLeUgYMKi0yd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The prices of micro-cap securities are generally more volatile than those of larger-cap securities. In addition, because micro-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</span></p> <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zsxqt7PNMNEc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Information Technology and Industrials sectors. Information Technology sector companies can be significantly affected by the obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. In addition, companies from the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</span></p> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zGXHlp4jN3Pj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zSn3SSdBQuT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zA9l6FGsjrCc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zsxG0FizDric" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance <p id="xdx_A80_eoef--PerformanceNarrativeTextBlock_zuN1r5NoiT3g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zbop7gmrlwtk"><span id="xdx_900_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zDWs6z5WkvT9">The following performance information provides an indication of the risks of investing in the Fund.</span> Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Returns chart shows performance year-by-year over the last ten years. <span id="xdx_904_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zOMp8J5k0Ksc">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell Microcap Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The following performance information provides an indication of the risks of investing in the Fund. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell Microcap Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Consultant Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zscvD8RARWe5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_ze9qvbux9qTe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden"> </td> <td style="display: none; width: 50%; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2016</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20160101__20161231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zGBwoO2Rm9w6" style="display: none; visibility: hidden">18.5</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20170101__20171231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zs3Mh2j8Svd7" style="display: none; visibility: hidden">4.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_984_eoef--AnnlRtrPct_pid_dp_uRatio_c20180101__20181231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zvsiXGBHKKij" style="display: none; visibility: hidden">-9.8</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_988_eoef--AnnlRtrPct_pid_dp_uRatio_c20190101__20191231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zAwWMSObdvS" style="display: none; visibility: hidden">19.7</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_988_eoef--AnnlRtrPct_pid_dp_uRatio_c20200101__20201231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_z3NxF4vwfK8a" style="display: none; visibility: hidden">23.0</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_982_eoef--AnnlRtrPct_pid_dp_uRatio_c20210101__20211231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zgOsnCFlkg5c" style="display: none; visibility: hidden">29.6</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_98F_eoef--AnnlRtrPct_pid_dp_uRatio_c20220101__20221231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_z6C0ABq3dEpf" style="display: none; visibility: hidden">-23.4</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_980_eoef--AnnlRtrPct_pid_dp_uRatio_c20230101__20231231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zSBDdCdFySGb" style="display: none; visibility: hidden">18.0</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_982_eoef--AnnlRtrPct_pid_dp_uRatio_c20240101__20241231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zcoYCMHixsed" style="display: none; visibility: hidden">12.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_984_eoef--AnnlRtrPct_pid_dp_uRatio_c20250101__20251231__dei--LegalEntityAxis__custom--S000009506Member__oef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zK11kTIWt8j1" style="display: none; visibility: hidden">12.2</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><img alt="" src="img042_v1.jpg"/></p> 0.185 0.042 -0.098 0.197 0.230 0.296 -0.234 0.180 0.122 0.122 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zcQCIDixegj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">During the period shown in the bar chart, the <span id="xdx_903_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zqx9LndfQcY7">highest return for a calendar quarter</span> was <span id="xdx_90C_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zYG4MCmM4Cf7">36.49</span>% (quarter ended <span id="xdx_900_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zljv7DCHNBnj">12/31/20</span>) and the <span id="xdx_909_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zTfVmJ3CtXh9">lowest return for a calendar quarter</span> was <span id="xdx_908_eoef--BarChartLowestQuarterlyReturn_pid_dp_uRatio_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zEZFKaVzhilk">-31.95</span>% (quarter ended <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zERWDMZ2JxLa">3/31/20</span>).</span></p> highest return for a calendar quarter 0.3649 2020-12-31 lowest return for a calendar quarter -0.3195 2020-03-31 <p id="xdx_A8D_eoef--PerformanceTableNarrativeTextBlock_zzx1QXcPBlwe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, <span id="xdx_901_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zhkHbdk7tF66">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_909_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zAbqSdi5gWfd">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_901_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zzaFV3bxJywa">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_90D_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009506Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zi5y1WAjyxAk">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns As of 12/31/25 (%) <p id="xdx_A83_eoef--PerformanceTableTextBlock_z7SjuzpG5oRe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zYUj5TggWtG2" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td id="xdx_49B_20250101__20251231_z1qvWCvM5cai" style="border-bottom: #B3B3B3 1pt solid; width: 12%; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_ztMMvk7VdXWf" style="border-bottom: #B3B3B3 1pt solid; width: 12%; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zpTL6bghI807" style="border-bottom: #B3B3B3 1pt solid; width: 12%; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Consultant Class</b></span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zNPHOE4U7b6" style="vertical-align: bottom"> <td style="padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return Before Taxes</span></td> <td style="text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.18</span></td> <td style="text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.08</span></td> <td style="text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.23</span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z0wV8v9jusJa" style="vertical-align: bottom"> <td style="padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions</span></td> <td style="text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8.81</span></td> <td style="text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.18</span></td> <td style="text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.70</span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025995Member__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zpSq17kRnXF2" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid; padding-left: 0.125in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.77</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.02</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.99</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 3000 Index</b></span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zvmfilnchaGl" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.15</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14.29</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell Microcap Index</b></span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--RussellMicrocapIndexMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zTwKSUbQ9Xad" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">22.98</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7.32</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.58</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><b>Russell 2000 Index</b></span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td> <td style="padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--Russell2000IndexMember__dei--DocumentInformationDocumentAxis__custom--RoyceMicroCapFundConsultantClassMember_zFrmr3yLTbbi" style="vertical-align: bottom"> <td style="border-bottom: #B3B3B3 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.81</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</span></td> <td style="border-bottom: #B3B3B3 1pt solid; text-align: right; padding-right: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9.62</span></td></tr> </table> 0.1218 0.0808 0.0923 0.0881 0.0518 0.0670 0.0977 0.0602 0.0699 0.1715 0.1315 0.1429 0.2298 0.0732 0.0958 0.1281 0.0609 0.0962 Royce Premier Fund Investment Goal  <p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_zL9CPfr7ogce" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Premier Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A8A_eoef--ExpenseNarrativeTextBlock_z24t5fKVwj5e" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> <p id="xdx_A83_eoef--ShareholderFeesTableTextBlock_zD9zt6XuZQf3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.9pt 0pt 3pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_z3dlLqXiPQge" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td id="xdx_98B_eoef--ShareholderFeesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_ztKNxFA26prl" style="border-top: #231F20 1pt solid; width: 87%; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Shareholder Fees</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(fees paid directly from your investment)</span></td> <td id="xdx_49E_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zlOt5sNJlbqk" style="border-top: #231F20 1pt solid; width: 13%; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #C7C8CA 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; visibility: hidden"><span id="xdx_918_ecustom--RoycePremierFundConsultantClassMember_zKva11NvxMl9">Royce Premier Fund - Consultant Class</span></span></span></td> <td style="border-bottom: #C7C8CA 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_403_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_zLS2NmgblzMe" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_40C_eoef--MaximumDeferredSalesChargeOverOther_dp_zo14wyqIbOBf" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge on purchases held for less than 365 days (as a percentage of net asset value at the time of purchase or redemption, whichever is less)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">1.00%</span></p></td></tr> <tr id="xdx_40B_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_ziudc3SpDt56" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> Shareholder Fees (fees paid directly from your investment) 0.0000 0.0100 0.0000 <p id="xdx_A81_eoef--AnnualFundOperatingExpensesTableTextBlock_zI7LWvr7nUDk" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zbWOdJ8FU5q4" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td style="border-bottom: #231F20 1pt solid; width: 87%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zbu7KP6O1Wd2" style="border-bottom: #231F20 1pt solid; text-align: center; vertical-align: bottom; width: 13%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td id="xdx_988_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zJCA98wCWH31" style="padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(expenses that you pay each year as a percentage of the value of your investment)</span></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_407_eoef--ManagementFeesOverAssets_dp_zbUu77dyvR" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Management fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_401_eoef--DistributionAndService12b1FeesOverAssets_dp_zeZORFKY5T3i" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_407_eoef--OtherExpensesOverAssets_dp_znc8H0nWJRfb" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.46%</span></td></tr> <tr id="xdx_404_eoef--ExpensesOverAssets_dp_z6DMeHAsI8P9" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.46%</span></td></tr> <tr id="xdx_406_eoef--FeeWaiverOrReimbursementOverAssets_dp_zwgm51CkK9l5" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.22%</span></td></tr> <tr id="xdx_406_eoef--NetExpensesOverAssets_iT_dp_z59iEZtFMUi1" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.24%</span></td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0100 0.0100 0.0046 0.0246 -0.0022 0.0224 April 30, 2027 Example <p id="xdx_A81_eoef--ExpenseExampleNarrativeTextBlock_zBVi2j0tCKt7" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.25pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A89_eoef--ExpenseExampleWithRedemptionTableTextBlock_z2GMw6G0EVJ2" style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zyiMBtfFku49" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; width: 87%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zsbCR9chCcie" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 13%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zl66lpis2UKd" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$227</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zLMYv1GC5M5f" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$746</span></td></tr> <tr id="xdx_40E_eoef--ExpenseExampleYear05_zb94wl81gfI2" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,291</span></td></tr> <tr id="xdx_400_eoef--ExpenseExampleYear10_zUBytKOSJ694" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,780</span></td></tr> </table> 227 746 1291 2780 Portfolio Turnover  <p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_zNbKvIpKXc2g" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zSqRtaSUKON3">20</span>% of the average value of its portfolio.</span></p> 0.20 Principal Investment Strategy  <p id="xdx_A86_eoef--StrategyNarrativeTextBlock_zhtqgWORcA9c" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets in a limited number (generally less than 100) of equity securities of primarily small-cap companies at the time of investment. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. Royce looks for companies that it considers “premier”—those that it believes are trading below its estimate of their current worth that also have excellent business strengths, strong balance sheets and/or improved prospects for growth, the potential for improvement in cash flow levels and internal rates of return, and franchise durability. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90E_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zAEVtSxsFoSb">The Fund invests at least 80% of its net assets in equity securities of such premier companies, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies at the time of investment. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities.</span> The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of such premier companies, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies at the time of investment. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zd4gNwLyQma3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Premier Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_902_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zZ5KxZXsFhAd">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span> </span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zMsANYXBngg9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger- cap companies or other asset classes. </span></p> <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zlcxe9fnJYvd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund’s investment in a limited number of issuers may involve considerably more risk to investors than funds that invest in a larger number of issuers because it may be more susceptible to any single corporate, economic, political, regulatory, or market event. A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials sector. These companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. </span></p> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zV5uNBycTX7b" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar. </span></p> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zU1q7y9guYyf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values. </span></p> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_z6Uafo7htXu5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract. </span></p> <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_gRBRTB-USM_zbm5Ti6B94b4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification</span></p> obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents. Performance <p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zvOJvutJgv84" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following performance information provides an indication of the risks of investing in the Fund. <span id="xdx_902_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_z1EqIBfdC878">Past performance does not indicate how the Fund will perform in the future.</span> <span id="xdx_904_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zIKVnD3cTOid">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years.</span> <span id="xdx_904_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zuY8syblmM7e">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests.</span></span></p> Past performance does not indicate how the Fund will perform in the future. The Calendar Year Total Returns chart shows performance year-by-year over the last ten years. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns  Consultant Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zLbIiGnRFNNi" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_A52_dU_zGRtXcPvAQN9" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden"> </td> <td style="display: none; width: 50%; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2016</td> <td id="xdx_986_eoef--AnnlRtrPct_pid_dp_uRatio_c20160101__20161231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zKaAD6dG5Uph" style="display: none; visibility: hidden">21.7</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_98A_eoef--AnnlRtrPct_pid_dp_uRatio_c20170101__20171231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zBn3rRmwK8e6" style="display: none; visibility: hidden">22.5</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_989_eoef--AnnlRtrPct_pid_dp_uRatio_c20180101__20181231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_z9gqKVS8c9A9" style="display: none; visibility: hidden">-11.4</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_981_eoef--AnnlRtrPct_pid_dp_uRatio_c20190101__20191231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zWysVPMQMFr6" style="display: none; visibility: hidden">32.5</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20200101__20201231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zbIiH5hFHAXf" style="display: none; visibility: hidden">10.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_981_eoef--AnnlRtrPct_pid_dp_uRatio_c20210101__20211231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zsrsUUQ3ZCZb" style="display: none; visibility: hidden">15.0</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_989_eoef--AnnlRtrPct_pid_dp_uRatio_c20220101__20221231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zJuGagvnM8D" style="display: none; visibility: hidden">-16.4</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_988_eoef--AnnlRtrPct_pid_dp_uRatio_c20230101__20231231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zhIwRaV8ixtg" style="display: none; visibility: hidden">21.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20240101__20241231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zZK5W41pWLCi" style="display: none; visibility: hidden">1.9</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_98F_eoef--AnnlRtrPct_pid_dp_uRatio_c20250101__20251231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_z49SnaoYqefk" style="display: none; visibility: hidden">4.5</td></tr> </table> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img043_v1.jpg"/> </span></p> 0.217 0.225 -0.114 0.325 0.102 0.150 -0.164 0.212 0.019 0.045 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zMeTMFSLCjD3" style="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">During the period shown in the bar chart, the <span id="xdx_903_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zcV3jr2jHHdf">highest return</span> for a calendar quarter was <span id="xdx_90E_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zjCRY4yvvU1k">24.93</span>% (quarter ended <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_z3ZfXSeaf3ze">12/31/20</span>) and the <span id="xdx_908_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zukdA4CIac22">lowest return</span> for a calendar quarter was <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zmby0ncu1n36">-27.95</span>% (quarter ended <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_z87FtOSO0nUd">3/31/20</span>).</span></p> highest return 0.2493 2020-12-31 lowest return -0.2795 2020-03-31 <p id="xdx_A89_eoef--PerformanceTableNarrativeTextBlock_znpRuINyILT" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, <span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zVkdi9KnGIcj">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_903_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zPbVGJMNw6M6">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_905_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zlNyekWAyTk6">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_909_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zXYX0R9hnk8a">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 <p id="xdx_A80_eoef--PerformanceTableTextBlock_ziS3XcaCdLw1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td id="xdx_986_eoef--PerformanceTableHeading_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zQPKWDLmmpFf" style="border-top: #231F20 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Average Annual Total Returns</b></span></td> <td style="border-top: #231F20 1pt solid; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> </table> <p style="margin: 0"></p> <p style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20250101__20251231_zALTHq5lJgzj" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.3pt; text-align: center; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zHSsK9Eq2MHa" style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zt8Vln4dKO43" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.15pt; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Consultant Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember_zf5WIVAo9G65" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="padding-left: 2pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">4.53</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">4.43</span></td> <td style="padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.13</span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z6VUyBuwEwqb" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 2pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.93</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.87</span></td> <td style="padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.95</span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025993Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zfhtZZMu9sg3" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">4.64</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">3.31</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">6.85</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zKO6zEiyCiGg" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoycePremierFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zQUhbQVxlKYf" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> Average Annual Total Returns 0.0453 0.0443 0.0913 0.0193 0.0187 0.0595 0.0464 0.0331 0.0685 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 Royce Small-Cap Fund Investment Goal  <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zdBG7iR16FFi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Small-Cap Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zj2kqjcyptJb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A8E_eoef--ShareholderFeesTableTextBlock_zppeMnjSj5A4" style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_A54_z1iW02oUgI4d" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; width: 87%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_497_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025998Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zjDhmENgGUcg" style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 13%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_408_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_ztYEjixf14r1" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_406_eoef--MaximumDeferredSalesChargeOverOther_dp_zGapRHNFLZW9" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge on purchases held for less than 365 days (as a percentage of net asset value at the time of purchase or redemption, whichever is less)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">1.00%</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"></p></td></tr> <tr id="xdx_40F_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_zGWvLfLkRqli" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> <p style="margin: 0"> </p> 0.0000 0.0100 0.0000 <p id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_zEUcK0dIKmWj" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A57_zkka7DramgV7" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td id="xdx_981_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zBqwdDRvTEnf" style="padding-left: 0.25pt; width: 87%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(expenses that you pay each year as a percentage of the value of your investment)</span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025998Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zC4hxMjQhtX" style="text-align: center; vertical-align: bottom; width: 13%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40B_eoef--ManagementFeesOverAssets_dpn_zrJ8ARxUdWhb" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Management fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.76%</span></td></tr> <tr id="xdx_40E_eoef--DistributionAndService12b1FeesOverAssets_dpn_z9yq6pxsYBAe" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_40D_eoef--OtherExpensesOverAssets_dpn_zGTxFWSMn0Td" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.22%</span></td></tr> <tr id="xdx_40B_eoef--ExpensesOverAssets_dpn_z8LS3VAJT3Xj" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.98%</span></td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0076 0.0100 0.0022 0.0198 Example <p id="xdx_A86_eoef--ExpenseExampleNarrativeTextBlock_zACXR3mjPRgk" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.35pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.35pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p id="xdx_A84_eoef--ExpenseExampleWithRedemptionTableTextBlock_zaRfJ7MdL38c" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; width: 87%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000025998Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zIA7vG4ZOvX2" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 13%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zKtobnaTXsV3" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$201</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zLKhmU2YBWfj" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$621</span></td></tr> <tr id="xdx_40B_eoef--ExpenseExampleYear05_zXhMic2IWRU2" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,068</span></td></tr> <tr id="xdx_404_eoef--ExpenseExampleYear10_z9vuJNkqlJSe" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,306</span></td></tr> </table> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.95pt; color: #00787A"><span style="font-family: Times New Roman, Times, Serif"> </span></p> 201 621 1068 2306 Portfolio Turnover  <p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_z8JpsUat8y6b" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90A_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zxvoFuHL5E0e">43</span>% of the average value of its portfolio.</span></p> 0.43 Principal Investment Strategy  <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zDN89ZjMbDP6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund uses multiple investment disciplines in an effort to provide exposure to approaches that have historically performed well in different market environments. These disciplines include “High Quality,” which looks for companies that have high returns on invested capital and that Royce believes have significant competitive advantages; “Emerging Quality,” which seeks companies that are newer in their lifecycle but that Royce believes can become High Quality in the future; “Traditional Value,” which looks for companies trading at prices below Royce’s estimate of their current worth; and “Quality Value,” which seeks companies with attractive profit margins, strong free cash flows, and lower leverage that also trade at what Royce believes are attractive valuations. The Fund’s portfolio managers generally focus on one of these approaches in managing segments of the Fund’s assets. A Royce Co-Chief Investment Officer will monitor and, from time to time, adjust the Fund’s allocations across these segments of the portfolio. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_903_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zigD0uIg73f2">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zZB9AHmw8ple" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_909_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_z5d2oZve5d2e">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. </span></span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.  <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zXfzJyIS18S" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zUJzyLZrucJa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Financials sectors. Companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets. </span></p> <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--USInvestmentsMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zGe8fPf85hRi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.85pt 0pt 3pt; text-align: justify; text-indent: 9pt; color: #231F20"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.85pt 0pt 3pt; text-align: justify; text-indent: 9pt; color: #231F20"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember__oef--RiskAxis__oef--RiskNotInsuredMember_zXIHCLUE1X6f">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </span>This Prospectus is not a contract. </span></p> Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zq7sGJW6aMDg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance <p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zlxeNOaGAJO" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_900_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zZyLfIWJ2xab">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_90F_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_z4b1cRclz9z9">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years. <span id="xdx_904_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zcAeULWfFWfb">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests.</span></span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Consultant Class (%) <p id="xdx_A8E_eoef--BarChartTableTextBlock_zjWh5cRcbRk7" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img044_v1.jpg"/> </span></p> 0.252 0.151 -0.106 0.253 0.129 0.208 -0.179 0.254 0.061 0.079 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zlTwJy89K3Rg" style="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif">During the period shown in the bar chart, the <span id="xdx_90F_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zs6Xfike92df">highest return</span> for a calendar quarter was <span id="xdx_90D_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zAdspOXbe8hi">26.86</span>% (quarter ended <span id="xdx_908_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zqJwS8XjYcHc">12/31/20</span>) and the <span id="xdx_906_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zhOD1Mzilvza">lowest return</span> for a calendar quarter was <span id="xdx_903_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zLvjGtaj8bMi">-30.52</span>% (quarter ended <span id="xdx_90D_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zMoxKCPzVjA3">3/31/20</span>).</span></p> highest return 0.2686 2020-12-31 lowest return -0.3052 2020-03-31 <p id="xdx_A8E_eoef--PerformanceTableNarrativeTextBlock_zmbyTyuR4Er1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, <span id="xdx_904_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_z8731n61kZjc">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90D_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_z1fOYo2AVGS6">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_90B_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zL8QkAE3tl19">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_901_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zgur4Kl8kzgf">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 <p id="xdx_A88_eoef--PerformanceTableTextBlock_zAuSmo8Jf4di" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td id="xdx_98E_eoef--PerformanceTableHeading_dxL_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_z3zZSEiUoPUj" style="border-top: #231F20 1pt solid; width: 68%" title="::XDX::Average%20Annual%20Total%20Returns%20As%20of%2012%2F31%2F25%20%28%25%29"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b><span style="-sec-ix-hidden: xdx2ixbrl1760">Average Annual Total Returns</span></b></span></td> <td style="border-top: #231F20 1pt solid; width: 10%; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> </table> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20250101__20251231_zYZ3SuN9HeL" style="border-bottom: #BCBEC0 1pt solid; text-align: center; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zHByMTee8NR4" style="border-bottom: #BCBEC0 1pt solid; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_ze7s9d5h3gA6" style="border-bottom: #BCBEC0 1pt solid; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Consultant Class</b></span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000025998Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember_zs8rxTzSgk58" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="padding-left: 2pt; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">7.94</span></td> <td style="padding-left: 0.05in; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">7.31</span></td> <td style="padding-left: 0.55pt; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10.00</span></td></tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025998Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z7RIgiZka2m6" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 2pt; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.50</span></td> <td style="padding-left: 0.05in; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">4.95</span></td> <td style="padding-left: 2.9pt; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">7.44</span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000025998Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zqU0qTDStA6g" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 27pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">5.80</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 27pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">5.46</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: right; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 27pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">7.60</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: right; color: #231F20"></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td style="text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_z2KctwMSndJh" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.55pt; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td style="text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_z7mKJ106pOcb" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: right; padding-right: 27pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.0794 0.0731 0.1000 0.0650 0.0495 0.0744 0.0580 0.0546 0.0760 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 Royce Small-Cap Opportunity Fund Investment Goal <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zp1qb3e8rECc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Small-Cap Opportunity Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zRiwR5HIiPih" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A8E_eoef--ShareholderFeesTableTextBlock_zR7unguYJH7l" style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zbeupQ0yy8ml" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="border-bottom: #C7C8CA 1pt solid; text-align: center; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_495_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zSN961AFbsVi" style="border-bottom: #C7C8CA 1pt solid; text-align: center; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td> <td id="xdx_49D_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000038081Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zg53FG2hltwa" style="border-bottom: #C7C8CA 1pt solid; text-align: center; vertical-align: bottom; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>R CLASS</b></span></td></tr> <tr id="xdx_408_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_zJLDOMYoSgWg" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_406_eoef--MaximumDeferredSalesChargeOverOther_dp_zOLgbwBLXuC6" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge on purchases held for less than 365 days (as a percentage of net asset value at the time of purchase or redemption, whichever is less)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: right; margin-bottom: 0pt; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">1.00%</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 21.25pt 0pt 0; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif">0.00%</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 33pt 0pt 0; color: #231F20"></p></td></tr> <tr id="xdx_40F_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_zM9E5HYjW6ij" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> 0.0000 0.0000 0.0100 0.0000 0.0000 0.0000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <p id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_zowLdHrDYKVe" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: top; visibility: hidden"> <td style="border-bottom: #BCBEC0 1pt solid; display: none; padding-left: 0.25pt; visibility: hidden"> </td> <td id="xdx_492_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zUs5pSkN2ihi" style="border-bottom: #BCBEC0 1pt solid; display: none; text-align: right; vertical-align: bottom; padding-right: 40pt; visibility: hidden"> </td> <td id="xdx_492_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000038081Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zHmivne0rj54" style="border-bottom: #BCBEC0 1pt solid; display: none; text-align: right; vertical-align: bottom; padding-right: 40pt; visibility: hidden"> </td></tr> <tr id="xdx_403_eoef--ManagementFeesOverAssets_dp_zrnvY3WB8Bog" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Management fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_40D_eoef--DistributionAndService12b1FeesOverAssets_dp_zbNtbRpGhcLf" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.50%</span></td></tr> <tr id="xdx_402_eoef--OtherExpensesOverAssets_dp_z1NmfpEOsGQ8" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.38%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.39%</span></td></tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dp_zcQU2ivRDlH2" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.38%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.89%</span></td></tr> <tr id="xdx_403_eoef--FeeWaiverOrReimbursementOverAssets_dp_zngRWhiVpOl8" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.14%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_401_eoef--NetExpensesOverAssets_dp_zLFi49CwbQme" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.24%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.89%</span></td></tr> </table> 0.0100 0.0100 0.0100 0.0050 0.0038 0.0039 0.0238 0.0189 -0.0014 0.0000 0.0224 0.0189 Example <p id="xdx_A8D_eoef--ExpenseExampleNarrativeTextBlock_zLb2xQyDWLpi" style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td colspan="3" style="border-right: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid"><p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.3pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Consultant Class in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.3pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p></td></tr> <tr style="display: none; vertical-align: top; background-color: #F1F2F2; visibility: hidden"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; display: none; text-align: center; width: 71%; visibility: hidden"> </td> <td style="border-bottom: #BCBEC0 1pt solid; display: none; text-align: center; vertical-align: bottom; width: 15%; visibility: hidden"> </td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; display: none; text-align: center; vertical-align: bottom; width: 14%; visibility: hidden"> </td></tr> </table> <p id="xdx_A80_eoef--ExpenseExampleWithRedemptionTableTextBlock_zYdvIExO1o5f" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zkSEpYAE6c41" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; text-align: center; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z3z0iNzLKHV4" style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000038081Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zy7ooX3ZlpDi" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>R CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zjOMb9qvSRZk" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$227</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$192</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zBiY7hPQFTo4" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$729</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$594</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zd9vvvmslJI1" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,258</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,021</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_z1MubrKRiuPa" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,706</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; vertical-align: bottom; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,212</span></td></tr> </table> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #00787A"><span style="font-family: Times New Roman, Times, Serif"> </span></p> 227 192 729 594 1258 1021 2706 2212 Portfolio Turnover  <p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_zpt9oseXtbnj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_904_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zvMzTBSy8I5c">51</span>% of the average value of its portfolio.</span></p> 0.51 Principal Investment Strategy  <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zNM5XbxdDL9f" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies in an attempt to take advantage of what it believes are opportunistic situations for undervalued securities. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Such opportunistic situations may include turnarounds, emerging growth companies with interrupted earnings patterns, companies with unrecognized asset values, or undervalued growth companies. Although the Fund focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_903_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zNnUlMPrDdt">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zLuUF4ICJnG3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Opportunity Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_909_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zhUv7VblDzdf">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span> </span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zvL2qiVKVo3e" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z1kcjBV6Cd9i" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Information Technology sectors. Industrials sector companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, companies from the Information Technology sector can be significantly affected by the obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. </span></p> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zdF8FU5XPhbd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund’s opportunistic value investment approach may not be successful and could result in portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “value” stocks may remain undervalued for long periods (particularly during times of low or declining interest rates), undervaluation may become more severe, or perceived undervaluation may actually represent intrinsic value. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zpoHf8DMfMr1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance  <p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zkxq1l0Lqlk1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_908_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zxlU2LoS4HQg">The following performance information provides an indication of the risks of investing in the Fund. </span><span id="xdx_90B_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zoUdajpFMFEi">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Consultant Class used for illustrative purposes—returns differ by Class). <span id="xdx_904_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zTeI29G3D68k">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span> The returns differ only to the extent that the Classes have different expenses because all Classes invest in the same portfolio of securities.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Consultant Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zi1PmS52Hpch" style="font: 8pt Arial, Helvetica, Sans-Serif; display: none; margin-top: 0pt; margin-bottom: 0pt; color: #231F20; visibility: hidden"></p> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A53_dU_zc5YdKDVUxOa" style="font: 11pt Calibri, Helvetica, Sans-Serif; display: none; width: 100%; border-collapse: collapse; visibility: hidden" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border: Black 0.5pt solid; display: none; text-align: right; visibility: hidden"> </td> <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-left-color: Black; border-left-width: 0.5pt; text-align: right; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border: Black 0.5pt solid; display: none; text-align: right; width: 50%; visibility: hidden">2016</td> <td id="xdx_986_eoef--AnnlRtrPct_dp_c20160101__20161231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zJBpx5BRYbq4" style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-left-color: Black; border-left-width: 0.5pt; text-align: right; width: 50%; visibility: hidden">28.6</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2017</td> <td id="xdx_980_eoef--AnnlRtrPct_dp_c20170101__20171231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z1K8t6KyJus" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">20.5</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2018</td> <td id="xdx_98D_eoef--AnnlRtrPct_dp_c20180101__20181231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zQWZJHgV7hO1" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">-20.8</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2019</td> <td id="xdx_981_eoef--AnnlRtrPct_dp_c20190101__20191231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zYcJ5R4L8zfh" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">26.7</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2020</td> <td id="xdx_985_eoef--AnnlRtrPct_dp_c20200101__20201231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z0LxDDsvhcU7" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">25</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2021</td> <td id="xdx_981_eoef--AnnlRtrPct_dp_c20210101__20211231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zo0ge6rbasdc" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">29.5</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2022</td> <td id="xdx_982_eoef--AnnlRtrPct_dp_c20220101__20221231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z1yKwmZFT50i" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">-18</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2023</td> <td id="xdx_987_eoef--AnnlRtrPct_dp_c20230101__20231231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zym8aWfOj1Vl" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">18.4</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2024</td> <td id="xdx_986_eoef--AnnlRtrPct_dp_c20240101__20241231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z8dBUf35G8Cj" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">9.1</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2025</td> <td id="xdx_984_eoef--AnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zgczUBJo5Vi9" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">10.8</td></tr> </table> <p style="font: 8pt Arial, Helvetica, Sans-Serif; display: none; margin-top: 0pt; margin-bottom: 0pt; color: #231F20; visibility: hidden"> <span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><img alt="" src="img045_v1.jpg"/></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"> </p> 0.286 0.205 -0.208 0.267 0.25 0.295 -0.18 0.184 0.091 0.108 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zjla4JrUDqP7" style="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">During the period shown in the bar chart, the <span id="xdx_903_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z1DMytSwIAyg">highest return</span> for a calendar quarter was <span id="xdx_90E_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zBBci4xaxoTg">38.57</span>% (quarter ended <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zk8g3Y2dLiKl">12/31/20</span>) and the <span id="xdx_904_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zWFE7okPU528">lowest return</span> for a calendar quarter was <span id="xdx_907_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_z6MH1hGgajR7">-37.36</span>% (quarter ended <span id="xdx_90D_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zUVsIyeznHSk">3/31/20</span>).</span></p> highest return 0.3857 2020-12-31 lowest return -0.3736 2020-03-31 <p id="xdx_A8E_eoef--PerformanceTableNarrativeTextBlock_zcHEVcw8stV5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The table also presents the impact of taxes on the Fund’s returns (Consultant Class again used for illustrative purposes). In calculating these figures, <span id="xdx_904_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zpIHdD1Biko7">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_902_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zEdH2LJJ64ea">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_90B_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zw9di4oTPw5g">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_901_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zLYuhxbrKbc4">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 Average Annual Total Returns       As of 12/31/25 (%)       <p id="xdx_A8D_eoef--PerformanceTableTextBlock_zSjkcYuOhKoa" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zYHX75hNHjoi" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20250101__20251231_zC0fz29ACiTf" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.3pt; text-align: center; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zogoMnJR1xa8" style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zBW2ZKaxgfy1" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.15pt; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Consultant Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zqh9DjSBGvZg" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10.79</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.72</span></td> <td style="padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">11.43</span></td></tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zi6C5qThzTqd" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 2pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.56</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.28</span></td> <td style="padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.33</span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zasEFmx5z3F3" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">8.10</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">6.48</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">8.91</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>R Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000038081Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zRKHK6jWfztc" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">11.21</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.17</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">11.94</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_z1HyXlf870Oc" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Value Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zAz6rqCO50tc" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.59</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.88</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.27</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zZtJOTcLNb41" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.1079 0.0872 0.1143 0.0856 0.0628 0.0933 0.0810 0.0648 0.0891 0.1121 0.0917 0.1194 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Small-Cap Special Equity Fund Investment Goal  <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_z973HCTtjiPl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Small-Cap Special Equity Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zouNVkISlgY4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A86_eoef--ShareholderFeesTableTextBlock_zsSoG64MpVV9" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A54_dU_z5zvu84Ie9rh" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; width: 85%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_91E_ecustom--C000026017Member_zG2JcBnY0oa7"><span id="xdx_91A_ecustom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zVaglpwSd2Wh" style="display: none; visibility: hidden">Royce Small-Cap Special Equity Fund - Consultant Class</span></span></span><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zz8swSDnYV9b" style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_40C_eoef--MaximumDeferredSalesChargeOverOther_dp_zbx7ZorpVEd6" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_403_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_zSGLr7Jnxwg7" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge on purchases held for less than 365 days (as a percentage of net asset value at the time of purchase or redemption, whichever is less)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 20.9pt; color: #231F20; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif">1.00%</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 20.9pt; color: #231F20; text-align: right"></p></td></tr> <tr id="xdx_40B_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_z3jJXQMxV2Ch" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> 0.0000 0.0100 0.0000 <p id="xdx_A88_eoef--AnnualFundOperatingExpensesTableTextBlock_zPGqvEzdz097" style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: #231F20 1pt solid; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zr4KhWPDpTB3" style="border-bottom: #231F20 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td id="xdx_988_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zsP90f3yhkmk" style="padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(expenses that you pay each year as a percentage of the value of your investment)</span></td> <td style="padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_407_eoef--ManagementFeesOverAssets_dp_zs3JvKiBii94" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Management fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_401_eoef--DistributionAndService12b1FeesOverAssets_dp_zIcnDVv2pNZi" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_407_eoef--OtherExpensesOverAssets_dp_zZ68Cp6hLxL7" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.45%</span></td></tr> <tr id="xdx_404_eoef--ExpensesOverAssets_dp_zM2K5ae5eLaj" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.45%</span></td></tr> <tr id="xdx_406_eoef--FeeWaiverOrReimbursementOverAssets_dp_zE51aFGqwI07" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.21%</span></td></tr> <tr id="xdx_406_eoef--NetExpensesOverAssets_iT_dp_zSTT3KMgrLlj" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12.2pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.24%</span></td></tr> </table> <p style="margin: 0"> </p> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0100 0.0100 0.0045 0.0245 -0.0021 0.0224 April 30, 2027 Example <p id="xdx_A81_eoef--ExpenseExampleNarrativeTextBlock_zucjdFN93aa2" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.3pt 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A89_eoef--ExpenseExampleWithRedemptionTableTextBlock_zxi8993P8FH" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zNzxtme60vJ1" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; text-align: center; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zZqtkMGsZBD" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zKNmk4bfE7eh" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$227</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zCQm2TeMX52k" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$744</span></td></tr> <tr id="xdx_40E_eoef--ExpenseExampleYear05_z2DSIFHKnbbb" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,287</span></td></tr> <tr id="xdx_400_eoef--ExpenseExampleYear10_zQ0qvI5ps3oh" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,770</span></td></tr> </table> 227 744 1287 2770 Portfolio Turnover  <p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_z3I1f8ShSWGg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zA8SS34HA66b">12</span>% of the average value of its portfolio.</span></p> 0.12 Principal Investment Strategy  <p id="xdx_A86_eoef--StrategyNarrativeTextBlock_zhM8v4GMkcNi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. The portfolio manager applies an intensive value approach in managing the Fund’s assets. This approach, which attempts to combine classic value analysis, the identification of good businesses, and accounting cynicism, has its roots in the teachings of Benjamin Graham and Abraham Briloff. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90E_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_z4fFJ3KuNjv2">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zjsENEl0uTx4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Special Equity Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_902_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zvAmVJ9pUwff">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span> </span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zbRpqudPPip9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. </span></p> <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zWBzf9tI5qyg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Consumer Discretionary sectors. Companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, Consumer Discretionary companies can be significantly affected by the performance of the overall economy, particularly the level of consumer inflation, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes. </span></p> <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember_zrOwVQEN2ug4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As of December 31, 2025, the Fund held a significant portion of its assets in cash and/or cash equivalents (i.e., repurchase agreements). Such an investment approach may result in lower returns and can expose the fund to inflation risk, as the purchasing power of cash may erode over time. Additionally, repurchase agreements involve certain risks, including the risk that the counterparty may default on its obligations.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund’s intensive value investment approach may not be successful and could result in portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “value” stocks may remain undervalued for long periods (particularly during times of low or declining interest rates), undervaluation may become more severe, or perceived undervaluation may actually represent intrinsic value. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values. </span></p> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zqIdDBLYes1k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract. </span></p> <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_gRBRTB-KSBY_zuOwFn7RQ4g3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in</span></p> significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents. Performance  <p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zgOZNLZmXNO" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following performance information provides an indication of the risks of investing in the Fund. <span id="xdx_902_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zy6PguBtGagh">Past performance does not indicate how the Fund will perform in the future.</span> <span id="xdx_904_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zBZuotMLhRZ4">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years.</span> <span id="xdx_904_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zkH8E6QW9Xy4">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span></span></p> Past performance does not indicate how the Fund will perform in the future. The Calendar Year Total Returns chart shows performance year-by-year over the last ten years. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Consultant Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_z6fYLsuDDgdf" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_z9dt0F9tmMuk" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden"> </td> <td style="display: none; width: 50%; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2016</td> <td id="xdx_986_eoef--AnnlRtrPct_pid_dp_uRatio_c20160101__20161231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zaTsmCD8U885" style="display: none; visibility: hidden">30.9</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_98A_eoef--AnnlRtrPct_pid_dp_uRatio_c20170101__20171231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zvpUtdwnJLG9" style="display: none; visibility: hidden">6.8</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_989_eoef--AnnlRtrPct_pid_dp_uRatio_c20180101__20181231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zBmuuuh8pXaf" style="display: none; visibility: hidden">-10.8</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_981_eoef--AnnlRtrPct_pid_dp_uRatio_c20190101__20191231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zT2DtFdkpOyl" style="display: none; visibility: hidden">11.4</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20200101__20201231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zB2rX7gwIDha" style="display: none; visibility: hidden">6.3</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_981_eoef--AnnlRtrPct_pid_dp_uRatio_c20210101__20211231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zzmBFMdppkR7" style="display: none; visibility: hidden">21.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_989_eoef--AnnlRtrPct_pid_dp_uRatio_c20220101__20221231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zh6ND3GWy15e" style="display: none; visibility: hidden">-7.4</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_988_eoef--AnnlRtrPct_pid_dp_uRatio_c20230101__20231231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zytkcEf6A741" style="display: none; visibility: hidden">11.6</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20240101__20241231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zqDh0IaNM0C7" style="display: none; visibility: hidden">2.0</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_98F_eoef--AnnlRtrPct_pid_dp_uRatio_c20250101__20251231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_ztHXqfbfWMT5" style="display: none; visibility: hidden">2.3</td></tr> </table> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img046_v1.jpg"/> </span></p> 0.309 0.068 -0.108 0.114 0.063 0.212 -0.074 0.116 0.020 0.023 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_z2CoXYoBJH3b" style="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">During the period shown in the bar chart, the <span id="xdx_905_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zhSDrLjHTze8">highest return</span> for a calendar quarter was <span id="xdx_90E_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zWIPL7urIWj2">19.06</span>% (quarter ended <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zI1phDLvig6c">6/30/20</span>) and the <span id="xdx_908_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_z6HvJ6xmV1sf">lowest return</span> for a calendar quarter was <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zXAXpVGArUxb">-24.80</span>% (quarter ended <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zOA1pPdgOR2d">3/31/20</span>).</span></p> highest return 0.1906 2020-06-30 lowest return -0.2480 2020-03-31 <p id="xdx_A89_eoef--PerformanceTableNarrativeTextBlock_zj46rUXpgZt" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, <span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zvorJ0vmR0Se">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. <span id="xdx_903_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zmPk1tkjUHrg">Your after-tax returns depend on your tax situation, so they may differ from the returns shown. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_90F_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zvXX8nQbYyb6">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_909_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zWnofhyFPDyb">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 <p id="xdx_A8F_eoef--PerformanceTableTextBlock_zqql0gh7Ck5h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="display: none; font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-top: #231F20 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b><span id="xdx_90E_eoef--PerformanceTableHeading_dxL_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zSsAaZ4uShH3" title="::XDX::Average%20Annual%20Total%20Returns%20As%20of%2012%2F31%2F25%20%28%25%29"><span style="-sec-ix-hidden: xdx2ixbrl1989">Average Annual Total Returns</span></span></b></span></td> <td style="border-top: #231F20 1pt solid; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> </table> <p style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49E_20250101__20251231_zrtrtVDlCRjk" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.3pt; text-align: center; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>1 YEAR</b></span></td> <td id="xdx_498_20210101__20251231_zNYTRSS8vpRf" style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_497_20160101__20251231_zICgF5Qncky6" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.15pt; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Consultant Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember_zSG8oJCKjMc" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="padding-left: 2pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.29</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.49</span></td> <td style="padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.78</span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zUb8UgAVJ5Ji" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 2.4pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.14</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.88</span></td> <td style="padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">4.51</span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026017Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zcMKfwgkhTL2" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">3.20</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">4.13</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">5.18</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zpYZmLt3aOe" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Value Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zw0CTRCnXTud" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.59</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.88</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.27</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundConsultantClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zdeEoCgN8Uab" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.0229 0.0549 0.0678 -0.0014 0.0288 0.0451 0.0320 0.0413 0.0518 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Small-Cap Total Return Fund Investment Goals  <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zmDvO7c4Ggkf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Small-Cap Total Return Fund’s investment goals are long-term growth of capital and current income.</span></p> Fees and Expenses of the Fund  <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zXMsQJShwi07" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund. Shares of the Fund purchased or held through a third party, such as a broker-dealer, bank, or other financial intermediary, may incur fees and expenses that are not reflected in the tables and examples below.</span></p> Shareholder Fees (fees paid directly from your investment) <p id="xdx_A88_eoef--ShareholderFeesTableTextBlock_zt8WFUfU3QP2" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zl5aDZxnSFS1" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="border-bottom: #C7C8CA 1pt solid; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"> </span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zHKBgd50eVH" style="border-bottom: #C7C8CA 1pt solid; text-align: center; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td> <td id="xdx_49C_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000038078Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zHBNV1qjP4J1" style="border-bottom: #C7C8CA 1pt solid; text-align: center; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>R CLASS</b></span></td></tr> <tr id="xdx_409_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_pid_dp_uRatio_z95KZePNRqK4" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_40C_eoef--MaximumDeferredSalesChargeOverOther_dp_zAdAE17h0bjj" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge on purchases held for less than 365 days (as a percentage of net asset value at the time of purchase or redemption, whichever is less)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_409_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_zb5Ron1xXikd" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> <p style="margin-top: 0pt; margin-bottom: 0pt"></p> <p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin: 0"></p> 0.0000 0.0000 0.0100 0.0000 0.0000 0.0000 <p id="xdx_A89_eoef--AnnualFundOperatingExpensesTableTextBlock_zO5VklZVfxzd" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: #231F20 1pt solid; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #231F20 1pt solid; padding-right: 40pt; text-align: right; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #231F20 1pt solid; padding-right: 40pt; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td colspan="3" id="xdx_989_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zMcijVLT0yL9" style="padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(expenses that you pay each year as a percentage of the value of your investment)</span></td></tr> </table> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr id="xdx_407_eoef--ManagementFeesOverAssets_dp_zV59umBNRVw4" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Management fees</span></td> <td id="xdx_499_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zYBNsY5WsuP5" style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td> <td id="xdx_496_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000038078Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z5x3RFR1wf56" style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td></tr> <tr id="xdx_401_eoef--DistributionAndService12b1FeesOverAssets_dp_zv9Obk5UPIN5" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.00%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.50%</span></td></tr> <tr id="xdx_407_eoef--OtherExpensesOverAssets_dp_zgGrQnhy0Vmc" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.27%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.44%</span></td></tr> <tr id="xdx_404_eoef--ExpensesOverAssets_dp_zULK3tGpsmJl" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.27%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.94%</span></td></tr> <tr id="xdx_406_eoef--FeeWaiverOrReimbursementOverAssets_dp_zGiX4Ivn5JV3" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.03%</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> <tr id="xdx_406_eoef--NetExpensesOverAssets_iT_dp_zBoziJIPatx1" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12.25pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.24%</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.94%</span></td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0100 0.0050 0.0027 0.0044 0.0227 0.0194 -0.0003 0.0000 0.0224 0.0194 April 30, 2027 Example <p id="xdx_A84_eoef--ExpenseExampleNarrativeTextBlock_zKCxtvKeXLz" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.35pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements for the Consultant Class in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A83_eoef--ExpenseExampleWithRedemptionTableTextBlock_zX2CPtUXqJ77" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A50_dU_ztZmHthhPBwl" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; text-align: center; width: 71%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zepvkaLlSrT6" style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>CONSULTANT CLASS</b></span></td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000038078Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zmKqVelznXKl" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: center; width: 14%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>R CLASS</b></span></td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zb3fqrwNuNj1" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$227</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$197</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_z63e3aBgqnt7" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$706</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$609</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_z7KJOQ9xqUOh" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,212</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,047</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zVfEMjIX0HXd" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,603</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 40pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,264</span></td></tr> </table> 227 197 706 609 1212 1047 2603 2264 Portfolio Turnover  <p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_zIpLSsRSp6y" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90A_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zHYYLaWzl91b">59</span>% of the average value of its portfolio.</span></p> 0.59 Principal Investment Strategy <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_z3qP62DtsCLa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in dividend-paying equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000® Index at the time of its most recent reconstitution. Royce believes that regular dividend payments, and/or other methods of returning capital to shareholders such as issuer share repurchases, are often a positive signal that may indicate attractive attributes, including a stable business model, shareholder-friendly management, disciplined capital allocation practices, and a conservative financial culture. The Fund seeks to achieve its investment objectives by primarily investing in companies that pay regular dividends and/or return capital to shareholders. Royce favors companies that fall into one of three investment themes: “Compounder” companies possess what Royce believes are outstanding business models, strong financial characteristics, and above-average growth potential. “Quality Value” companies have attractive profit margins, strong free cash flows, high returns on invested capital, and low leverage that also trade at what Royce believes are attractive valuations. “Special Situations” are companies that may have complex business models and/or require a catalyst for growth, such as spin offs, turnarounds, and/or unrecognized asset values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zEpECY7pPqcj">The Fund invests at least 65% of its net assets in dividend-paying equity securities, under normal circumstances. In addition, the Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 65% of its net assets in dividend-paying equity securities, under normal circumstances. In addition, the Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z6wYVWXhKCjd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Total Return Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_905_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zTE7GcnpJMRa">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span> </span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z2FALVIiVTi1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes. There is no assurance that there will be net investment income to distribute and/or that the Fund will achieve its investment goals. </span></p> <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zIA0NZwKR3n1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event. </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Financials and Industrials sectors. Companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets. In addition, Industrials sector companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. </span></p> <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zGYfayD4KhEd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar. </span></p> <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zr5rrGgievR1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, there is no guarantee that</span></p> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z4yDJxMYftyj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zx3m7CabmAU" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance  <p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zTodV2u1b216" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zXrinDSoTyVe">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_90E_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zVuYbAQrti2k">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years (Consultant Class used for illustrative purposes—returns differ by Class).<span id="xdx_90A_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zkSJmV7sSHga"> The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests.</span> The returns differ only to the extent that the Classes have different expenses because all Classes invest in the same portfolio of securities.</span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Consultant Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zP4YXzLSoKqh" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3.5pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3.5pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zE8WiBDruRGg" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden"> </td> <td style="display: none; width: 50%; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2016</td> <td id="xdx_987_eoef--AnnlRtrPct_dp_c20160101__20161231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zFBWxyYzgUWh" style="display: none; visibility: hidden">24.7</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_980_eoef--AnnlRtrPct_dp_c20170101__20171231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zz5EgPVQWKc4" style="display: none; visibility: hidden">12.5</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_988_eoef--AnnlRtrPct_dp_c20180101__20181231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z1mexMNBQMLj" style="display: none; visibility: hidden">-13.3</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_987_eoef--AnnlRtrPct_dp_c20190101__20191231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zhaQX6CiIna4" style="display: none; visibility: hidden">22.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_987_eoef--AnnlRtrPct_dp_c20200101__20201231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z8dA5otlLjyd" style="display: none; visibility: hidden">2.8</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_981_eoef--AnnlRtrPct_dp_c20210101__20211231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zJzpZ7gbg9Hk" style="display: none; visibility: hidden">24.6</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_987_eoef--AnnlRtrPct_dp_c20220101__20221231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zvTzfv8kFOak" style="display: none; visibility: hidden">-14.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_98F_eoef--AnnlRtrPct_dp_c20230101__20231231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zM8zMW0ybtEh" style="display: none; visibility: hidden">22.9</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_980_eoef--AnnlRtrPct_dp_c20240101__20241231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_z78GIQMbBrr9" style="display: none; visibility: hidden">8.8</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_989_eoef--AnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000009510Member__oef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zle0bbjpNfM1" style="display: none; visibility: hidden">1.5</td></tr> </table> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3.5pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3.5pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img047_v1.jpg"/> </span></p> 0.247 0.125 -0.133 0.222 0.028 0.246 -0.142 0.229 0.088 0.015 <p id="xdx_A87_eoef--BarChartClosingTextBlock_zavJvW92NEie" style="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">During the period shown in the bar chart, the <span id="xdx_90A_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zdGxLhNFJVfi">highest return</span> for a calendar quarter was <span id="xdx_906_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zk9yQCdMRbAc">24.92</span>% (quarter ended <span id="xdx_900_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zY0wdt8GpbL2">12/31/20</span>) and the <span id="xdx_90A_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_ziuY6OBldOs8">lowest return</span> for a calendar quarter was <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zFvQVu1Nj25b">-30.47</span>% (quarter ended <span id="xdx_908_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zd517DvcP645">3/31/20</span>).</span></p> highest return 0.2492 2020-12-31 lowest return -0.3047 2020-03-31 <p id="xdx_A89_eoef--PerformanceTableNarrativeTextBlock_z7cjZlI9Sp5h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The table also presents the impact of taxes on the Fund’s returns (Consultant Class again used for illustrative purposes). In calculating these figures, <span id="xdx_904_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zKkdZSxJfgLf">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_90B_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zEjlVNEBc4ch">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_90E_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zjB5JJd9XJt3">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_903_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zDNYa96kkmOk">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 <p id="xdx_A83_eoef--PerformanceTableTextBlock_zi7TBv9YzxAb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.6pt 0pt 3.5pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-top: #231F20 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b><span id="xdx_90C_eoef--PerformanceTableHeading_dxL_c20260501__20260501__dei--LegalEntityAxis__custom--S000009510Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zvJtOn7IscA2" title="::XDX::Average%20Annual%20Total%20Returns%20As%20of%2012%2F31%2F25%20%28%25%29"><span style="-sec-ix-hidden: xdx2ixbrl2110">Average Annual Total Returns</span></span></b></span></td> <td style="border-top: #231F20 1pt solid; width: 10%; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: #231F20 1pt solid; width: 11%; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> </table> <p style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: rgb(179,179,179) 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20250101__20251231_zijtHWtfXz7j" style="border-bottom: rgb(179,179,179) 1pt solid; text-align: right; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>   1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zjJPhf35OpO6" style="border-bottom: rgb(179,179,179) 1pt solid; text-align: right; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zbaENz05dyH5" style="border-bottom: rgb(179,179,179) 1pt solid; text-align: right; padding-right: 5.4pt; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td colspan="4"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Consultant Class</b></span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zv7AKCIiQAG6" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="padding-left: 7.4pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.52</span></td> <td style="padding-left: 0.05in; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">7.75</span></td> <td style="padding-left: 2.9pt; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.30</span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_ztuGHJ2rOSrf" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 5.15pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.95</span></td> <td style="padding-left: 0.05in; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">4.43</span></td> <td style="padding-left: 2.9pt; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.08</span></td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000026007Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zzne2cdqld95" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.4pt; color: #231F20; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif">2.72</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">5.58</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: right; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">6.05</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: right; color: #231F20"></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>R Class</b></span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000038078Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember_zyzLtMsTjEXf" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 7.4pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.80</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.11</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.9pt; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.67</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zYR6W5sBIfIj" style="vertical-align: top"> <td style="border-bottom: rgb(188,190,192) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; padding-left: 4.4pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; padding-left: 4.35pt; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td colspan="4"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Value Index</b></span></td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zTZkEjJF1Qx" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.8pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.59</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.88</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.9pt; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.27</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapTotalReturnFundConsultantAndRClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zBn1VJ7Urk94" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.8pt; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.0152 0.0775 0.0830 -0.0095 0.0443 0.0508 0.0272 0.0558 0.0605 0.0180 0.0811 0.0867 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Royce Premier Fund Investment Goal <p id="xdx_A80_eoef--ObjectivePrimaryTextBlock_zmkHhgOY5Xw4" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Royce Premier Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A83_eoef--ExpenseNarrativeTextBlock_zBMB75ygHy1i" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eoef--ExpenseBreakpointDiscounts_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zRnjwjIvdHXa">You may qualify for Class A sales charge discounts from certain financial intermediaries if you and your family invest, or agree to invest in the future, at least $<span id="xdx_905_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zMkdge48P762">25,000</span> in certain Royce, Franklin Templeton, and Legg Mason funds.</span> More information about these and other sales charge discounts and waivers is available from your financial intermediary, under the heading “General Shareholder Information−Sales Charges” in this Prospectus (pages 20-21), in Appendix A: Sales Charge Waivers and Discounts from Certain Financial Intermediaries, and under the heading “Sales Charge Waivers and Reductions for A Class Shares” in The Royce Fund’s Statement of Additional Information. “Financial intermediaries” include banks, brokers, dealers, insurance companies, investment advisers, financial consultants or advisers, and other financial intermediaries that have entered into an agreement with Royce Fund Services, LLC to sell Fund shares.</span></p> You may qualify for Class A sales charge discounts from certain financial intermediaries if you and your family invest, or agree to invest in the future, at least $25,000 in certain Royce, Franklin Templeton, and Legg Mason funds. 25000 <p id="xdx_A82_eoef--ShareholderFeesTableTextBlock_zA0QjPDED5Ja" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.9pt 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zVdA46Qrq9B9" style="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td id="xdx_98E_eoef--ShareholderFeesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zqNIpnlQlMG" style="border-top: #231F20 1pt solid; width: 83%; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Shareholder Fees </b></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(fees paid directly from your investment)</span></td> <td style="border-top: #231F20 1pt solid; width: 17%; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #C7C8CA 1pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; visibility: hidden"><span id="xdx_912_ecustom--RoycePremierFundAClassMember_zT7wb5rMmdn9">Royce Premier Fund - A Class</span></span></span></td> <td style="border-bottom: #C7C8CA 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>A CLASS</b></span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td id="xdx_982_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_fMQ_____zieVvnkhKsKj" style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.25%</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)">¹</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge</span></td> <td id="xdx_98C_eoef--MaximumDeferredSalesChargeOverOther_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_fMg_____zm4WjCQxU6X" style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">None</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)">²</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td id="xdx_988_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z7P5n6ep9wP" style="border-bottom: #BCBEC0 1.5pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="display: none; vertical-align: top; text-align: justify; visibility: hidden"> <td style="display: none; width: 0.25in; text-align: left; visibility: hidden"><span id="xdx_F02_zyTpPPDmwPR" style="display: none; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; visibility: hidden">1</span></td><td style="display: none; text-align: justify; visibility: hidden"><span id="xdx_F11_znkwpKrTWesg" style="display: none; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; visibility: hidden">Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge. For additional information, see “General Shareholder Information – Sales Charges” in this Prospectus.</span></td> </tr><tr style="display: none; vertical-align: top; text-align: justify; visibility: hidden"> <td style="display: none; text-align: left; visibility: hidden"><span id="xdx_F0D_zoFgfQs2zQXb" style="display: none; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; visibility: hidden">2</span></td><td style="display: none; text-align: justify; visibility: hidden"><span id="xdx_F10_z0oowuIkx2ki" style="display: none; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; visibility: hidden">You may buy A Class shares of the Fund at net asset value (without an initial sales charge) at certain financial intermediaries if the amount of such purchase, when combined with certain holdings of various Royce, Franklin Templeton, and Legg Mason funds, equals or exceeds $1,000,000. However, if you redeem those shares within 18 months of their purchase, you will pay a contingent deferred sales charge of 1.00%.</span></td></tr> </table> Shareholder Fees (fees paid directly from your investment) 0.0525 0.02 0.0000 <p id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zrz19rUMOtC3" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_z58j4vGfc3H7" style="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td style="border-bottom: #231F20 1pt solid; font-size: 11pt; width: 83%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49D_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zoXKG9dHzcDk" style="border-bottom: #231F20 1pt solid; font-size: 11pt; width: 17%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><p id="xdx_981_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_ztoeTUbYOtm5" style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(expenses that you pay each year as a percentage of the value of your investment)</span><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">Management fees </span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><p id="xdx_987_eoef--ManagementFeesOverAssets_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zin9Che9CZtl" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 3.05pt 0pt 0pt; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">1.00%</span></p></td></tr> <tr id="xdx_401_eoef--DistributionAndService12b1FeesOverAssets_dp_zv53nkq61zwg" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.25%</span></td></tr> <tr id="xdx_407_eoef--OtherExpensesOverAssets_dp_zi87gpizd4Pf" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.39%</span></td></tr> <tr id="xdx_404_eoef--ExpensesOverAssets_dp_zsLkNf550IVc" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 12pt; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.64%</span></td></tr> <tr id="xdx_406_eoef--FeeWaiverOrReimbursementOverAssets_dp_zUYvqFfmvbyj" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.15%</span></td></tr> <tr id="xdx_406_eoef--NetExpensesOverAssets_iT_dp_z0oB3l156ltk" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 11.95pt; font-size: 11pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; font-size: 11pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.49%</span></td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)  0.0100 0.0025 0.0039 0.0164 -0.0015 0.0149 Example <p id="xdx_A8F_eoef--ExpenseExampleNarrativeTextBlock_zrkoQ82ym866" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.55pt 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A80_eoef--ExpenseExampleNoRedemptionTableTextBlock_z5LJHS8nVQT6" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A53_dU_zA0gykyihHC5" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example, No Redemption"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_494_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zRn5JQ2GIHOi" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt; width: 36%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>A CLASS</b></span></td></tr> <tr id="xdx_40B_eoef--ExpenseExampleNoRedemptionYear01_zdJZSN4Sntri" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year (without redemption of any of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F43_z3dRH7WFCYX2">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$668</span></td></tr> </table> 668 <p id="xdx_A86_eoef--ExpenseExampleWithRedemptionTableTextBlock_ziXuK1aWXOxa" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="display: none"> <td style="display: none"> </td> <td id="xdx_498_20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zJM6pNY60Yx8" style="display: none"> </td></tr> <tr id="xdx_405_eoef--ExpenseExampleYear01_zzSqEYLfLEB2" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year (with redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F44_z6JtHJjHCDe7">4</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt; width: 36%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$255</span></td></tr> <tr id="xdx_401_eoef--ExpenseExampleYear03_z1pX8MOFAO7a" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F45_ztqHVe1TqtY5">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,001</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear05_z2BGCsmU4Eo2" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F42_z0fIXyMwh4V">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,357</span></td></tr> <tr id="xdx_408_eoef--ExpenseExampleYear10_zPx35O5Z4IS" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F4A_zu1ExesozBBh">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,357</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.12in; text-align: left"><span id="xdx_F04_zvElSrdiXl26" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 5.5pt">3</span></td><td style="text-align: justify"><span id="xdx_F1C_zBO2M1owDXGj" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assumes your investment is subject to the maximum initial sales charge of 5.25%.</span></td> </tr></table> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 12.2pt; color: #231F20"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.12in; text-align: left"><span id="xdx_F0E_znGzCBsbyEed" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 5.5pt">4</span></td><td style="text-align: justify"><span id="xdx_F11_z0LBvzIhpRMd" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assumes your investment is not subject to an initial sales charge but that your redemption of all of your shares is subject to a deferred sales charge of 1.00%.</span></td> </tr></table> 255 1001 1357 2357 Portfolio Turnover  <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_z5LaokxIPSD1" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90F_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z8qMTkVLAq1b">20</span>% of the average value of its portfolio.</span></p> 0.20 Principal Investment Strategy  <p id="xdx_A8E_eoef--StrategyNarrativeTextBlock_zROw0VOs9gT5" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets in a limited number (generally less than 100) of equity securities of primarily small-cap companies at the time of investment. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution. Royce looks for companies that it considers “premier”—those that it believes are trading below its estimate of their current worth that also have excellent business strengths, strong balance sheets and/or improved prospects for growth, the potential for improvement in cash flow levels and internal rates of return, and franchise durability.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1.95pt 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90A_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z3UPqORj0FTg">The Fund invests at least 80% of its net assets in equity securities of such premier companies, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies at the time of investment. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities.</span> The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></p> The Fund invests at least 80% of its net assets in equity securities of such premier companies, under normal circumstances. At least 65% of these equity securities will be issued by small-cap companies at the time of investment. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z44GOTvCezSf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Premier Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90B_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zTtRA5KEpwOj">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zvpCRD8NrWMj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</span></p> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zucqJ3ppRKbl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 9pt; color: #231F20; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Fund’s investment in a limited number of issuers may involve considerably more risk to investors than funds that invest in a larger number of issuers because it may be more susceptible to any single corporate, economic, political, regulatory, or market event. A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials sector. These companies can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</span></p> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentsRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zMFza53AVNp5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 9pt; color: #231F20; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zppQrBid2Y0k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zwvmi7SZVrrg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_gRBRTB-PQD_zbglGw2IVhZc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service</span></p> providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents. Performance  <p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zCHa6FRGVcg4" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The following performance information provides an indication of the risks of investing in the Fund. <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zIDB3Twnm5o9">Past performance does not indicate how the Fund will perform in the future.</span> <span id="xdx_905_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zuis7yXETBGc">The Calendar Year Total Returns chart shows performance year-by-year over the last ten years.</span> Because A Class shares were not sold prior to December 31, 2025, performance information is shown for Service Class shares, not offered in this Prospectus, for illustrative purposes. Purchases of A Class shares are subject to a maximum sales charge of 5.25% while purchases of Service Class shares are not subject to any sales charges. If such maximum sales charge for A Class shares had been reflected, total returns would have been lower. <span id="xdx_906_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zhI02XZuFLRf">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. (Service Class shown again for illustrative purposes.)</span></span></p> Past performance does not indicate how the Fund will perform in the future. The Calendar Year Total Returns chart shows performance year-by-year over the last ten years. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. (Service Class shown again for illustrative purposes.) Calendar Year Total Returns  Service Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zq6qwn5nlI0a" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A53_dU_zrpgnDQwG7X8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border: Black 0.5pt solid; display: none; text-align: right; width: 50%; visibility: hidden">2016</td> <td id="xdx_987_eoef--AnnlRtrPct_pid_dp_uRatio_c20160101__20161231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zz5XLywApXxe" style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-left-color: Black; border-left-width: 0.5pt; text-align: right; width: 50%; visibility: hidden">22.6</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2017</td> <td id="xdx_987_eoef--AnnlRtrPct_pid_dp_uRatio_c20170101__20171231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zxsmcJMffwO4" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">23.3</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2018</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20180101__20181231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zbgAvK94RPm6" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">-10.7</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2019</td> <td id="xdx_98F_eoef--AnnlRtrPct_pid_dp_uRatio_c20190101__20191231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zlnBd5dMepDk" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">33.7</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2020</td> <td id="xdx_98B_eoef--AnnlRtrPct_pid_dp_uRatio_c20200101__20201231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zQMeIPvte7hl" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">11.1</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2021</td> <td id="xdx_982_eoef--AnnlRtrPct_pid_dp_uRatio_c20210101__20211231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z49ss55l49Hj" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">16.1</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2022</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20220101__20221231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zZj2VvnDPM75" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">-15.8</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2023</td> <td id="xdx_986_eoef--AnnlRtrPct_pid_dp_uRatio_c20230101__20231231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zPBhFguS3Ci6" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">22.2</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2024</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20240101__20241231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zV0JxTy2yKe1" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">2.7</td></tr> <tr style="display: none; vertical-align: bottom; visibility: hidden"> <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; display: none; border-top-color: Black; border-top-width: 0.5pt; text-align: right; visibility: hidden">2025</td> <td id="xdx_98F_eoef--AnnlRtrPct_pid_dp_uRatio_c20250101__20251231__dei--LegalEntityAxis__custom--S000009505Member__oef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zufrwGq7Hwcd" style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; display: none; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; text-align: right; visibility: hidden">5.3</td></tr> </table> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img072_v1.jpg"/> </span></p> 0.226 0.233 -0.107 0.337 0.111 0.161 -0.158 0.222 0.027 0.053 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zD4mbkn6PCIe" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt">During the period shown in the bar chart, the <span id="xdx_90F_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zzBmfx03oVJk">highest return</span> for a calendar quarter was <span id="xdx_90C_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zwkMmzozMfe4">25.04</span>% (quarter ended <span id="xdx_909_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zIq7HcQAC6B5">12/31/20</span>) and the <span id="xdx_90C_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z4tSclEwe8Q4">lowest return</span> for a calendar quarter was <span id="xdx_90D_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_z7Es9GBfs7M4">-27.83</span>% (quarter ended <span id="xdx_903_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zX2L6a4JCZZc">3/31/20</span>).</span></p> highest return 0.2504 2020-12-31 lowest return -0.2783 2020-03-31 <p id="xdx_A8B_eoef--PerformanceTableNarrativeTextBlock_z9n5yrRNfxwg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify; text-indent: 11.45pt"><span style="font-family: Times New Roman, Times, Serif; color: #231F20">The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, <span id="xdx_904_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zXIwzBasVid9">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to </span><span style="font-family: Times New Roman, Times, Serif; color: #211D1E">income taxes only upon distribution. Current month-end performance information for all share classes may be obtained at <span id="xdx_90A_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zAq2mRt2eCvh">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_908_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zQGsERxzP8M3">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. www.royceinvest.com (800) 841-1180 This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. <p id="xdx_A8D_eoef--PerformanceTableTextBlock_zc71vPgFYaxa" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zFKn5QWyas4i" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: top"> <td style="border-top: Black 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b><span id="xdx_907_eoef--PerformanceTableHeading_dxL_c20260501__20260501__dei--LegalEntityAxis__custom--S000009505Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zN5nRtSW97K4" title="::XDX::Average%20Annual%20Total%20Returns%20As%20of%2012%2F31%2F25%20%28%25%29"><span style="-sec-ix-hidden: xdx2ixbrl2228">Average Annual Total Returns</span></span></b></span></td> <td id="xdx_49B_20250101__20251231_zTMeVx89B1Mb" style="border-top: Black 1pt solid; width: 9%; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_493_20210101__20251231_zTvGKxqtfFd8" style="border-top: Black 1pt solid; width: 9%; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49D_20160101__20251231_zdmPSZjdnF9g" style="border-top: Black 1pt solid; width: 9%; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td style="padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>1 YEAR</b></span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Service Class</b></span></td> <td style="padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember_zb6LV4R0qOL9" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.30</span></td> <td style="padding-left: 0.05in; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.26</span></td> <td style="padding-left: 9pt; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.99</span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_ztRqqYg6P5t1" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.67</span></td> <td style="padding-left: 0.05in; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">2.68</span></td> <td style="padding-left: 9pt; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.83</span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226581Member__dei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zLbDWfXmzLzg" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 30pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">5.12</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 30pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">3.93</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 30pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; color: #231F20; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif">7.55</span></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td style="padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zMcQDivzhRh5" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4.4pt; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td style="padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoycePremierFundAClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zRWiPsCQa447" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 9pt; text-align: right; padding-right: 30pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.0530 0.0526 0.0999 0.0267 0.0268 0.0683 0.0512 0.0393 0.0755 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 Royce Small-Cap Fund Investment Goal  <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zCm7WH4fPMBg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Small-Cap Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_z8RATf46Sc78" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eoef--ExpenseBreakpointDiscounts_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zvD3EYqqj6Lh">You may qualify for Class A sales charge discounts from certain financial intermediaries if you and your family invest, or agree to invest in the future, at least $<span id="xdx_902_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_z1y9HSP2HcX7">25,000</span> in certain Royce, Franklin Templeton, and Legg Mason funds.</span> More information about these and other sales charge discounts and waivers is available from your financial intermediary, under the heading “General Shareholder Information−Sales Charges” in this Prospectus (pages 20-21), in Appendix A: Sales Charge Waivers and Discounts from Certain Financial Intermediaries, and under the heading “Sales Charge Waivers and Reductions for A Class Shares” in The Royce Fund’s Statement of Additional Information. “Financial intermediaries” include banks, brokers, dealers, insurance companies, investment advisers, financial consultants or advisers, and other financial intermediaries that have entered into an agreement with Royce Fund Services, LLC to sell Fund shares.</span></p> You may qualify for Class A sales charge discounts from certain financial intermediaries if you and your family invest, or agree to invest in the future, at least $25,000 in certain Royce, Franklin Templeton, and Legg Mason funds. 25000 Shareholder Fees (fees paid directly from your investment) <p id="xdx_A8E_eoef--ShareholderFeesTableTextBlock_zpUZUyXCjzN2" style="margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_A5B_z5dgclrrhDul" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="border-bottom: #C7C8CA 1pt solid; width: 83%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #C7C8CA 1pt solid; padding-left: 11.95pt; text-align: center; width: 17%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>A CLASS</b></span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 11.95pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><span id="xdx_906_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_fMQ_____znNEZyIclvch" title="Maximum sales charge (load) imposed on purchases">5.25</span>%</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)">¹</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 11.95pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><span id="xdx_903_eoef--MaximumDeferredSalesChargeOverOther_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_fMg_____zKsTYqxthJzb" title="Maximum deferred sales charge">None</span></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)">²</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 11.95pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><span id="xdx_904_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009512Member__oef--ClassAxis__custom--C000026012Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapOpportunityFundConsultantAndRClassMember_zk88tJpYNYx3" title="Maximum sales charge (load) imposed on reinvested dividends">0.00</span>%</span></td></tr> </table> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: top; text-align: left"> <td id="xdx_F0C_zFIuaZWVjyab" style="display: none; width: 1%">1</td> <td id="xdx_F1B_zcoTuTtqwxck" style="display: none; width: 99%">Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge. For additional information, see “General Shareholder Information – Sales Charges” in this Prospectus.</td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td id="xdx_F0A_zHs0n4AO0XE" style="display: none">2</td> <td id="xdx_F19_zGjd15YqVHRi" style="display: none">You may buy A Class shares of the Fund at net asset value (without an initial sales charge), at certain financial intermediaries if the amount of such purchase, when combined with certain holdings of various Royce, Franklin Templeton, and Legg Mason funds, equals or exceeds $1,000,000. However, if you redeem those shares within 18 months of their purchase, you will pay a contingent deferred sales charge of 1.00%.</td></tr> </table> <p style="margin: 0"></p> 0.0525 0 0.0000 <p id="xdx_A88_eoef--AnnualFundOperatingExpensesTableTextBlock_zzlUupQVcohf" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A50_zGuw0lwKJD4a" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td style="border-bottom: #231F20 1pt solid; width: 83%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #231F20 1pt solid; width: 17%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><p id="xdx_984_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_ziB2UsvYHh3f" style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(expenses that you pay each year as a percentage of the value of your investment)</span><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">Management fees </span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center; vertical-align: bottom"><p id="xdx_98E_eoef--ManagementFeesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_z9dfKabcDyrc" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.85pt 0pt 11.95pt; color: #231F20" title="Management fees"><span style="font-family: Arial, Helvetica, Sans-Serif">0.76%</span></p></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td id="xdx_98E_eoef--DistributionAndService12b1FeesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zyCDabjpXLg6" style="border-bottom: #BCBEC0 1pt solid; padding-left: 11.95pt; text-align: center" title="Distribution and/or service (12b-1) fees"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.25%</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td id="xdx_98D_eoef--OtherExpensesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zMhi2o5fdfx3" style="border-bottom: #BCBEC0 1pt solid; padding-left: 11.95pt; text-align: center" title="Other expenses"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.30%</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td id="xdx_989_eoef--ExpensesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zkbxHRiKSoWc" style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 11.95pt; text-align: center" title="Total annual Fund operating expenses"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.31%</span></td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)  0.0076 0.0025 0.0030 0.0131 Example <p id="xdx_A8D_eoef--ExpenseExampleNarrativeTextBlock_zCwzC9hEpGdd" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td colspan="2" style="border-right: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid"><p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.35pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.35pt 0pt 6pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p></td></tr> </table> <p id="xdx_A80_eoef--ExpenseExampleNoRedemptionTableTextBlock_zLBOkNWBaW52" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A5D_zd3o03sJkwPa" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example, No Redemption"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zn9gkvmPw6z5" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt; width: 36%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>A CLASS</b></span></td></tr> <tr id="xdx_40C_eoef--ExpenseExampleNoRedemptionYear01_zfl5IA0n8hrd" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year (without redemption of any of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F4C_zAEXE3Hs7Asd">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$651</span></td></tr> </table> 651 <p id="xdx_A88_eoef--ExpenseExampleWithRedemptionTableTextBlock_zLt1sileq3Yd" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year (with redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)">⁴</span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt; width: 36%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$<span id="xdx_909_eoef--ExpenseExampleYear01_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__oef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_fNA_____zq8zH4jo3Su">237</span></span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zB66kYEuBDc3" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F45_zPlQDtw6Knxc">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$918</span></td></tr> <tr id="xdx_40A_eoef--ExpenseExampleYear05_zRHa52HK0no6" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F42_zTHxxC9VmHY7">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,206</span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zQTzSY7OJNBc" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 6pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F4F_zdn3vPAQAtDa">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,023</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><sup id="xdx_F0D_zwFUyEJh2Q0f">3</sup></span></td><td style="text-align: justify"><span id="xdx_F16_zKyXgdqE9cz3" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assumes your investment is subject to the maximum initial sales charge of 5.25%.</span></td> </tr></table> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 12.25pt; color: #231F20"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><sup id="xdx_F06_zUsEQxiRGTU1">4</sup></span></td><td style="text-align: justify"><span id="xdx_F17_zSsNuvACVagf" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assumes your investment is not subject to an initial sales charge but that your redemption of all of your shares is subject to a deferred sales charge of 1.00%.</span></td> </tr></table> 237 Portfolio Turnover  <p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_zUngcyy1PB7g" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90D_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zIjFW9GhRYX5">43</span>% of the average value of its portfolio.</span></p> 0.43 Principal Investment Strategy  <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zVCVa5rrGr15" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; color: #231F20">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000^® Index at the time of its most recent reconstitution.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; color: #231F20">  </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund uses multiple investment disciplines in an effort to provide exposure to approaches that have historically performed well in different market environments. These disciplines include “High Quality,” which looks for companies that have high returns on invested capital and that Royce believes have significant competitive advantages; “Emerging Quality,” which seeks companies that are newer in their lifecycle but that Royce believes can become High Quality in the future; “Traditional Value,” which looks for companies trading at prices below Royce’s estimate of their current worth; and “Quality Value,” which seeks companies with attractive profit margins, strong free cash flows, and lower leverage that also trade at what Royce believes are attractive valuations. The Fund’s portfolio managers generally focus on one of these approaches in managing segments of the Fund’s assets. A Royce Co-Chief Investment Officer will monitor and, from time to time, adjust the Fund’s allocations across these segments of the portfolio.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.5pt 0pt 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90E_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_z2M6iThQZsc7">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zraItbBI6VTk" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_90B_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zg700Il9aYfj">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zxUTRKyVtxOb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</span></p> <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_z2fwQiTr61l3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">A significant portion of the Fund’s assets may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Financials sectors. Companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, companies in the Financials sector are subject to extensive government regulation, can be significantly affected by changes in interest rates, the availability and cost of capital, the rate of corporate and consumer debt defaults, and price competition. They can also be subject to relatively rapid change due to government interventions in capital, credit, and currency markets.</span></p> <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_z5qHLPCSdKU2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investment in foreign securities involves risks that may not be encountered in U.S. investments, including adverse political, social, economic, environmental, public health, and/or other developments that are unique to a particular region or country. Prices of foreign securities in particular countries or regions may, at times, move in a different direction and/or be more volatile than those of U.S. securities. Because the Fund does not intend to hedge its foreign currency exposure, the U.S. dollar value of the Fund’s investments may be harmed by declines in the value of foreign currencies in relation to the U.S. dollar.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce’s estimate of a company’s current worth may prove to be inaccurate, or this estimate may not be recognized by other investors, which could lead to portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark index. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember__oef--RiskAxis__oef--RiskNotInsuredMember_z6VIOAzdvZ9e">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> This Prospectus is not a contract.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zzjqsj2dST18" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span style="font: 6pt Arial, Helvetica, Sans-Serif">6  <span style="color: gray">|  </span><b>The Royce Fund</b> Prospectus 2026</span></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.5pt 0pt 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.5pt 0pt 0pt; text-align: justify; text-indent: 9pt; color: #231F20"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.5pt 0pt 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; color: #211D1E; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></p> Performance  <p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zTrFi0s6JKfb" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_z01pMEojjlLf">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_903_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zTXDQeU6sDr9">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years. Because A Class shares were not sold prior to December 31, 2025, performance information is shown for Service Class shares, not offered in this Prospectus, for illustrative purposes. Purchases of A Class shares are subject to a maximum sales charge of 5.25% while purchases of Service Class shares are not subject to any sales charges. If such maximum sales charge for A Class shares had been reflected, total returns would have been lower. <span id="xdx_903_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zGMGFiFBNFr6">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests.</span> (Service Class shown again for illustrative purposes.)</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1.9pt 0pt 12.35pt; text-align: justify; color: #231F20"></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Index, an index that reflects the performance of the particular market segment in which the Fund primarily invests. Calendar Year Total Returns Service Class (%) <p id="xdx_A8D_eoef--BarChartTableTextBlock_zOUXDRyKMA9d" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.85pt 0pt 12.35pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.85pt 0pt 12.35pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img073_v1.jpg"/> </span></p> 0.261 0.159 -0.100 0.258 0.139 0.216 -0.174 0.263 0.068 0.086 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_zFvFfoV4n8g5" style="font: 9pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">During the period shown in the bar chart, the <span id="xdx_908_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zDdd42ANvyHl">highest return</span> for a calendar quarter was <span id="xdx_905_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zIEXSpfXkxZc">27.10</span>% (quarter ended <span id="xdx_909_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zQ7svHk7QIp3">12/31/20</span>) and the <span id="xdx_90E_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zK3FFKOQ7F8g">lowest return</span> for a calendar quarter was <span id="xdx_905_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zwIN93pkECQ7">-30.36</span>% (quarter ended <span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zT9f3IgKGbLj">3/31/20</span>).</span></p> highest return 0.2710 2020-12-31 lowest return -0.3036 2020-03-31 we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. www.royceinvest.com (800) 841-1180 The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_907_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zUlsnlciX6Ah">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at www.royceinvest.com or by calling SS&amp;C GIDS Shareholder Services at (800) 841-1180. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. <p id="xdx_A86_eoef--PerformanceTableTextBlock_zzYCF3qCiGr8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.85pt 0pt 12.35pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> <span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-top: Black 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b><span id="xdx_906_eoef--PerformanceTableHeading_dxL_c20260501__20260501__dei--LegalEntityAxis__custom--S000009507Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zhXntuhBKrMd" title="::XDX::Average%20Annual%20Total%20Returns%20As%20of%2012%2F31%2F25%20%28%25%29"><span style="-sec-ix-hidden: xdx2ixbrl2336">Average Annual Total Returns</span></span></b></span></td> <td style="border-top: Black 1pt solid; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: Black 1pt solid; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: Black 1pt solid; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> </table> <p style="margin: 0"></p> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20250101__20251231_zMDhwAA5Strd" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.3pt; text-align: center; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_ztM7W9dBfyoi" style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zXWGnF2dSCwb" style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.15pt; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Service Class</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hoef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember_zcoLtmQf38oc" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="padding-left: 2pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.62</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.05</span></td> <td style="padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10.75</span></td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zFT8s17MNCIc" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 2pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">7.13</span></td> <td style="padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.64</span></td> <td style="padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.18</span></td></tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226582Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zVkO7ZrS0prg" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">6.24</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">6.02</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">8.21</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: center; color: #231F20"></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_pid_dp_uRatio_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zEoJ7CSEWV2c" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.55pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--RoyceSmallCapFundAClassMember__oef--PerformanceMeasureAxis__custom--Russell2000IndexMember_zQK4hPrrEh0k" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.0862 0.0805 0.1075 0.0713 0.0564 0.0818 0.0624 0.0602 0.0821 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 Royce Small-Cap Special Equity Fund Investment Goal  <p id="xdx_A84_eoef--ObjectivePrimaryTextBlock_zKfSkieyndhk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Small-Cap Special Equity Fund’s investment goal is long-term growth of capital.</span></p> Fees and Expenses of the Fund  <p id="xdx_A87_eoef--ExpenseNarrativeTextBlock_zViEkwzicMM6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The following table presents the fees and expenses that you may pay if you buy and hold shares of the Fund.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.75pt 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">You may qualify for Class A sales charge discounts from certain financial intermediaries if you and your family invest, or agree to invest in the future, at least $25,000 in certain Royce, Franklin Templeton, and Legg Mason funds. More information about these and other sales charge discounts and waivers is available from your financial intermediary, under the heading “General Shareholder Information−Sales Charges” in this Prospectus (pages 20-21), in Appendix A: Sales Charge Waivers and Discounts from Certain Financial Intermediaries, and under the heading “Sales Charge Waivers and Reductions for A Class Shares” in The Royce Fund’s Statement of Additional Information. “Financial intermediaries” include banks, brokers, dealers, insurance companies, investment advisers, financial consultants or advisers, and other financial intermediaries that have entered into an agreement with Royce Fund Services, LLC to sell Fund shares.</span></p> <p id="xdx_A83_eoef--ShareholderFeesTableTextBlock_ztxvHhiDH3na" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 11.75pt 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td id="xdx_98B_eoef--ShareholderFeesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zVLOBjSmmtQb" style="border-top: #231F20 1pt solid; width: 83%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b>Shareholder Fees </b></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(fees paid directly from your investment)</span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zMq2v8UTxXr9" style="border-top: #231F20 1pt solid; width: 17%; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>A CLASS</b></span></td></tr> <tr id="xdx_403_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dp_zgcJr3Wz3WV3" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on purchases</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.25%</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F50_zDs9sho8hHRh">1</sup></span></td></tr> <tr id="xdx_406_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_z23oN407iJHc" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum deferred sales charge</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">None</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F5C_zSO4knBBpySj">2</sup></span></td></tr> <tr id="xdx_40B_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dp_zUWP9hK5TKM6" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Maximum sales charge (load) imposed on reinvested dividends</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.00%</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="display: none; vertical-align: top; text-align: justify; visibility: hidden"> <td style="display: none; width: 0pt; visibility: hidden"></td><td style="display: none; width: 20pt; text-align: left; visibility: hidden"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden"><sup id="xdx_F05_zy7vsIRH5zA4" style="display: none; visibility: hidden">1</sup></span></td><td style="display: none; text-align: justify; visibility: hidden"><span id="xdx_F12_z45vLmjEhU9i" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden">Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge. For additional information, see “General Shareholder Information–Sales Charges” in this Prospectus.</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="display: none; vertical-align: top; text-align: justify; visibility: hidden"> <td style="display: none; width: 0pt; visibility: hidden"></td><td style="display: none; width: 20pt; text-align: left; visibility: hidden"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden"><sup id="xdx_F08_ziPo6BKbebu3" style="display: none; visibility: hidden">2</sup></span></td><td style="display: none; text-align: justify; visibility: hidden"><span id="xdx_F11_zD3qnbzy03ob" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden">You may buy A Class shares of the Fund at net asset value (without an initial sales charge), at certain financial intermediaries if the amount of such purchase, when combined with certain holdings of various Royce, Franklin Templeton, and Legg Mason funds, equals or exceeds $1,000,000. However, if you redeem those shares within 18 months of their purchase, you will pay a contingent deferred sales charge of 1.00%.</span></td> </tr></table> Shareholder Fees (fees paid directly from your investment) 0.0525 0.02 0.0000 <p id="xdx_A81_eoef--AnnualFundOperatingExpensesTableTextBlock_z8cUY7nbWPv5" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A52_dU_z5T9JeTyR1ji" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td style="border-bottom: #231F20 1pt solid; width: 83%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-bottom: #231F20 1pt solid; padding-right: 5.4pt; width: 17%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><p id="xdx_988_eoef--OperatingExpensesCaption_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zgTWNZlhpre7" style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><b>Annual Fund Operating Expenses</b></span> <span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(expenses that you pay each year as a percentage of the value of your investment)</span><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">Management fees</span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #231F20"></p></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-right: 5.4pt; text-align: right; vertical-align: bottom"><p id="xdx_98C_eoef--ManagementFeesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z9RZDqYOjBDl" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0pt 0pt 0; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">1.00%</span></p></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Distribution and/or service (12b-1) fees</span></td> <td id="xdx_986_eoef--DistributionAndService12b1FeesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zRKagkMeL9e2" style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.25%</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Other expenses</span></td> <td id="xdx_982_eoef--OtherExpensesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zT92b823ahA1" style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.39%</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 12pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses</span></td> <td id="xdx_98D_eoef--ExpensesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z8hVYGPS3yD2" style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.64%</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Fee waivers and/or expense reimbursements</span></td> <td id="xdx_98C_eoef--FeeWaiverOrReimbursementOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zRoSSQjfTBCk" style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">-0.15%</span></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 12pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Total annual Fund operating expenses after fee waivers and/or expense reimbursements</span></td> <td id="xdx_984_eoef--NetExpensesOverAssets_dpn_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zqBSFkORubvd" style="border-bottom: #BCBEC0 1.5pt solid; text-align: right; padding-right: 5.4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1.49%</span></td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)  0.0100 0.0025 0.0039 0.0164 -0.0015 0.0149 April 30, 2027 Example <p id="xdx_A85_eoef--ExpenseExampleNarrativeTextBlock_zEON2QsVZgW4" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt 0pt 5.95pt; text-align: justify; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">The example assumes that you invest $10,000 in the Fund for the time periods indicated. The example also assumes that your investment has a 5% return each year and that the Fund’s total operating expenses (net of fee waivers and/or expense reimbursements in year one) remain the same. Although your actual costs may be higher or lower, based on the assumptions your costs would be:</span></p> <p id="xdx_A86_eoef--ExpenseExampleNoRedemptionTableTextBlock_zeJSgtQec5ff" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_zMtGhAG1qKEd" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example, No Redemption"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49A_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_ztUR1oNMXKbf" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt; width: 36%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>A CLASS</b></span></td></tr> <tr id="xdx_401_eoef--ExpenseExampleNoRedemptionYear01_zlOpwDaGImYh" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year (without redemption of any of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F49_zf3yJJuKSVT8">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$668</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="display: none; vertical-align: top; text-align: justify; visibility: hidden"> <td style="display: none; width: 0pt; visibility: hidden"></td><td style="display: none; width: 20pt; text-align: left; visibility: hidden"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden"><sup id="xdx_F0A_zJ9eoDdIhZma" style="display: none; visibility: hidden">3</sup></span></td><td style="display: none; text-align: justify; visibility: hidden"><span id="xdx_F10_zv9ndsnD9wg2" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt; visibility: hidden">Assumes your investment is subject to the maximum initial sales charge of 5.25%.</span></td> </tr></table> 668 <p id="xdx_A88_eoef--ExpenseExampleWithRedemptionTableTextBlock_zpAZQtM4Wyd4" style="margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zzuuZspx1tha" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt; width: 64%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">1 Year (with redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)">⁴</span></td> <td id="xdx_490_20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zKN8e2Xy6Xtl" style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt; width: 36%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$<span id="xdx_905_eoef--ExpenseExampleYear01_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_fNA_____zhBigG67cHle">255</span></span></td></tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zqWD7bkmadb9" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F4B_zqFxYPN7JJL1">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,001</span></td></tr> <tr id="xdx_40E_eoef--ExpenseExampleYear05_zdQfY0rYHKA3" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F44_zacXEDISrcPl">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$1,357</span></td></tr> <tr id="xdx_400_eoef--ExpenseExampleYear10_zqJ4YgmxIh56" style="vertical-align: top; background-color: #F1F2F2"> <td style="border-bottom: #BCBEC0 1pt solid; border-left: #BCBEC0 1pt solid; padding-left: 5.95pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">10 Years (with or without redemption of all of your shares)</span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(35,31,32)"><sup id="xdx_F40_zIWVP9jl9Bp5">3</sup></span></td> <td style="border-right: #BCBEC0 1pt solid; border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 5pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">$2,357</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F0D_zWviW2yXLYv4" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 5.5pt">3</span></td><td style="text-align: justify"><span id="xdx_F1F_zMQDHqdSgcGh" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assumes your investment is subject to the maximum initial sales charge of 5.25%.</span></td> </tr></table> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 12.2pt; color: #231F20"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F01_zjXLzvdvkjpl" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 5.5pt">4</span></td><td style="text-align: justify"><span id="xdx_F11_zhTd0fNaiMMj" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assumes your investment is not subject to an initial sales charge but that your redemption of all of your shares is subject to a deferred sales charge of 1.00%.</span></td> </tr></table> 255 1001 1357 2357 Portfolio Turnover  <p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_z9PE5dPvQota" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zEfNKQI02UX1">12</span>% of the average value of its portfolio.</span></p> 0.12 Principal Investment Strategy  <p id="xdx_A86_eoef--StrategyNarrativeTextBlock_zXOHJE7qalM3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of small-cap companies. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000® Index at the time of its most recent reconstitution. The portfolio manager applies an intensive value approach in managing the Fund’s assets. This approach, which attempts to combine classic value analysis, the identification of good businesses, and accounting cynicism, has its roots in the teachings of Benjamin Graham and Abraham Briloff.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2.1pt 0pt 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90E_eoef--StrategyPortfolioConcentration_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zCGoc3tG0nAc">The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/ or manage cash levels in the Fund’s portfolio.</span></span></p> The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/ or manage cash levels in the Fund’s portfolio. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z7PIvVGj169i" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As with any mutual fund that invests primarily in common stocks, Royce Small-Cap Special Equity Fund is subject to market risk—the possibility that common stock prices will decline over short and/or extended periods of time due to overall market, financial, economic, and political conditions or events; changes in investor sentiment; governmental or central bank actions and/or market interventions; banking instability; trade disputes, tariffs, trade barriers, and economic sanctions and corresponding countermeasures; major cybersecurity events; acts of terrorism; armed conflicts; pandemics or epidemics; natural disasters; and other events or factors that may or may not be directly related to the issuer of a security held by the Fund. Economies and financial markets throughout the world are increasingly interconnected, and events or changes in one country or region could have significant adverse effects on global economies, markets, industries, and individual companies in ways that cannot necessarily be foreseen. <span id="xdx_902_eoef--RiskTextBlock_dU_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember__oef--RiskAxis__oef--RiskLoseMoneyMember_zgNzdzrCt039">As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time.</span></span></p> As a result, the value of your investment in the Fund will fluctuate, sometimes sharply and unpredictably, and you could lose money over short and/or long periods of time. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zIzScVwyg3Oc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The prices of small-cap securities are generally more volatile than those of larger-cap securities. In addition, because small-cap securities tend to have significantly lower trading volumes than larger-cap securities, the Fund may have difficulty selling holdings or may only be able to sell holdings at prices substantially lower than what Royce believes they are worth. Therefore, the Fund may involve considerably more risk of loss and its returns may differ significantly from funds investing in larger-cap companies or other asset classes.</span></p> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z85CjuMtzUKe" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As of December 31, 2025, the Fund invested a significant portion of its assets in a limited number of issuers. Such a portfolio may involve considerably more risk to investors than one that invests in a larger number of issuers because such a portfolio may be more susceptible to any single corporate, economic, political, regulatory, or market event.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">A significant portion of the Fund’s assets also may, from time to time, be invested in companies from a single sector or a limited number of sectors. Such an investment approach may involve considerably more risk to investors than one that is more broadly diversified across economic sectors because it may be more susceptible to corporate, economic, political, regulatory, or market events that adversely affect the relevant sector(s). As of December 31, 2025, the Fund invested a significant portion of its assets in companies from the Industrials and Consumer Discretionary sectors. Companies in the Industrials sector can be significantly affected by general economic trends, commodity prices, legislation, government regulation and spending, import and export controls, worldwide competition, changes in consumer sentiment and spending, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. In addition, Consumer Discretionary companies can be significantly affected by the performance of the overall economy, particularly the level of consumer inflation, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes.</span></p> <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderperformanceRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z8CvR08JueI" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">As of December 31, 2025, the Fund held a significant portion of its assets in cash and/or cash equivalents (i.e., repurchase agreements). Such an investment approach may result in lower returns and can expose the fund to inflation risk, as the purchasing power of cash may erode over time. Additionally, repurchase agreements involve certain risks, including the risk that the counterparty may default on its obligations.</span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The Fund’s intensive value investment approach may not be successful and could result in portfolio losses or underperformance relative to similar funds and/or the Fund’s benchmark indexes. Additionally, “value” stocks may remain undervalued for long periods (particularly during times of low or declining interest rates), undervaluation may become more severe, or perceived undervaluation may actually represent intrinsic value. Securities in the Fund’s portfolio may not increase as much as the market as a whole, or perform negatively, and some securities may continue to be undervalued for long periods of time or may never reach what Royce believes are their full market values.</span></p> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNotInsuredMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zUCckIDGTk1l" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 8.95pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Investments in the Fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This Prospectus is not a contract.</span></p> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z0KuPdtY0xZ6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, Fund or investor data, or proprietary information. Such incidents may also cause the Fund, Royce, and/or their service providers to suffer data breaches, data corruption, or loss of operational functionality. In addition, cybersecurity incidents may prevent Fund investors from purchasing, redeeming, or exchanging shares, as well as from receiving distributions. The Fund and Royce have limited ability to prevent or mitigate cybersecurity incidents affecting third-party service providers, and such third-party service providers may have limited indemnification obligations to the Fund or Royce. Cybersecurity incidents may result in significant financial losses to the Fund and its shareholders, and substantial</span></p> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-align: left; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><span>costs may be incurred in order to prevent any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers are affected by cybersecurity incidents.</span></span></p> Performance  <p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zZjf42sgzo05" style="font: 10pt Arial, Helvetica, Sans-Serif; color: #231F20; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_904_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zeOHO8SvGhBd">The following performance information provides an indication of the risks of investing in the Fund.</span> <span id="xdx_902_eoef--PerformancePastDoesNotIndicateFuture_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zXNDTrIvqIui">Past performance does not indicate how the Fund will perform in the future.</span> The Calendar Year Total Returns chart shows performance year-by-year over the last ten years. Because A Class shares were not sold prior to December 31, 2025, performance information is shown for Service Class shares, not offered in this Prospectus, for illustrative purposes. Purchases of A Class shares are subject to a maximum sales charge of 5.25% while purchases of Service Class shares are not subject to any sales charges. If such maximum sales charge for A Class shares had been reflected, total returns would have been lower. <span id="xdx_904_eoef--PerformanceAdditionalMarketIndex_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zPa7Rmqx2PC5">The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. (Service Class shown again for illustrative purposes.)</span></span></p> The following performance information provides an indication of the risks of investing in the Fund. Past performance does not indicate how the Fund will perform in the future. The Average Annual Total Returns table shows how the Fund’s average annual total returns for various periods compare with those of the Russell 3000 Index, a broad-based measure of U.S. equity market performance, and the Russell 2000 Value Index and the Russell 2000 Index, indexes that reflect the performance of the particular market segment in which the Fund primarily invests. (Service Class shown again for illustrative purposes.) Calendar Year Total Returns Service Class (%) <p id="xdx_A80_eoef--BarChartTableTextBlock_zBSTMqt7Hx46" style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zWaqiMS1yi9c" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden"> </td> <td style="display: none; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden">2016</td> <td id="xdx_986_eoef--AnnlRtrPct_pid_dp_uRatio_c20160101__20161231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zVqhNX9U1nf7" style="display: none; width: 50%; visibility: hidden">31.9</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_98A_eoef--AnnlRtrPct_pid_dp_uRatio_c20170101__20171231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zwNHp5xwJLI6" style="display: none; visibility: hidden">7.7</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_989_eoef--AnnlRtrPct_pid_dp_uRatio_c20180101__20181231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_ziv7QzAr8IE7" style="display: none; visibility: hidden">-10.1</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_981_eoef--AnnlRtrPct_pid_dp_uRatio_c20190101__20191231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zItpouqLi8Kj" style="display: none; visibility: hidden">12.4</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_98E_eoef--AnnlRtrPct_pid_dp_uRatio_c20200101__20201231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zBptoHHj2Wfk" style="display: none; visibility: hidden">7.3</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_981_eoef--AnnlRtrPct_pid_dp_uRatio_c20210101__20211231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zFSbFhzaK9j5" style="display: none; visibility: hidden">22.2</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_989_eoef--AnnlRtrPct_pid_dp_uRatio_c20220101__20221231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zooEDv2Vl0C3" style="display: none; visibility: hidden">-6.6</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_988_eoef--AnnlRtrPct_pid_dp_uRatio_c20230101__20231231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zAdaf3hC3NB6" style="display: none; visibility: hidden">12.5</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_985_eoef--AnnlRtrPct_pid_dp_uRatio_c20240101__20241231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zEiNf2pPswxg" style="display: none; visibility: hidden">2.8</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_98F_eoef--AnnlRtrPct_pid_dp_uRatio_c20250101__20251231__dei--LegalEntityAxis__custom--S000009513Member__oef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zlToRZFoBVdd" style="display: none; visibility: hidden">3.1</td></tr> </table> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"><img alt="" src="img074_v1.jpg"/> </span></p> 0.319 0.077 -0.101 0.124 0.073 0.222 -0.066 0.125 0.028 0.031 <p id="xdx_A8C_eoef--BarChartClosingTextBlock_znQ8aal3oWpl" style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #211D1E"><span style="font-family: Arial, Helvetica, Sans-Serif">During the period shown in the bar chart, the <span id="xdx_905_eoef--HighestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zivP9cL6r68g">highest return</span> for a calendar quarter was <span id="xdx_90E_eoef--BarChartHighestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z1zPMflMC4Ec">19.41</span>% (quarter ended <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zs32N8sg1I87">6/30/20</span>) and the <span id="xdx_908_eoef--LowestQuarterlyReturnLabel_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z8wnNwSWk2Uc">lowest return</span> for a calendar quarter was <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_dp_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zjDjwPRHKOZe">-24.61</span>% (quarter ended <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturnDate_dd_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zsLPuzYlu4Tl">3/31/20</span>).</span></p> highest return 0.1941 2020-06-30 lowest return -0.2461 2020-03-31 <p id="xdx_A89_eoef--PerformanceTableNarrativeTextBlock_z1vc1zpBHGN4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif">The table also presents the impact of taxes on the Fund’s returns. In calculating these figures, <span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zwozIWFdKLi6">we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains.</span> We did not consider the impact of state or local income taxes. Your after-tax returns depend on your tax situation, so they may differ from the returns shown. <span id="xdx_903_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_ztByUUgKIb05">This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution.</span> Current month-end performance information for all share classes may be obtained at <span id="xdx_905_eoef--PerformanceAvailabilityWebSiteAddress_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zcnfIgeRQDs8">www.royceinvest.com</span> or by calling SS&amp;C GIDS Shareholder Services at <span id="xdx_909_eoef--PerformanceAvailabilityPhone_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zNz8qPp1Hlo4">(800) 841-1180</span>.</span></p> we assumed that the shareholder was in the highest federal income tax bracket in effect at the time of each distribution of income or capital gains. This information does not apply if your investment is in an individual retirement account (IRA), a 401(k) plan, or is otherwise tax deferred because such accounts are subject to income taxes only upon distribution. www.royceinvest.com (800) 841-1180 <p id="xdx_A81_eoef--PerformanceTableTextBlock_zIlHmr1UndFj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 2pt 0pt 0pt; text-align: justify; text-indent: 9pt; color: #231F20"><span style="display: none; font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-top: Black 1pt solid; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #231F20"><b><span id="xdx_906_eoef--PerformanceTableHeading_dxL_c20260501__20260501__dei--LegalEntityAxis__custom--S000009513Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_zfMUif63XNLd" title="::XDX::Average%20Annual%20Total%20Returns%20As%20of%2012%2F31%2F25%20%28%25%29"><span style="-sec-ix-hidden: xdx2ixbrl2445">Average Annual Total Returns</span></span></b></span></td> <td style="border-top: Black 1pt solid; width: 10%; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: Black 1pt solid; width: 11%; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="border-top: Black 1pt solid; width: 11%; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">As of 12/31/25 (%)</span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> </table> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: rgb(188,190,192) 1pt solid; text-align: center; width: 68%"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td id="xdx_49B_20250101__20251231_zegkC4Yp17de" style="border-bottom: rgb(188,190,192) 1pt solid; text-align: center; width: 10%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>  1 YEAR</b></span></td> <td id="xdx_493_20210101__20251231_zDWT7TfzIgNd" style="border-bottom: rgb(188,190,192) 1pt solid; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>5 YEAR</b></span></td> <td id="xdx_49D_20160101__20251231_zalOWYyqSBLe" style="border-bottom: rgb(188,190,192) 1pt solid; text-align: center; width: 11%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #231F20"><b>10 YEAR</b></span></td></tr> <tr style="vertical-align: top"> <td colspan="4"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Service Class</b></span></td></tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember_z0J4xF0Byjy5" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return Before Taxes</span></td> <td style="padding-left: 7.4pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3.13</span></td> <td style="padding-left: 0.05in; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.36</span></td> <td style="padding-left: 2.9pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">7.68</span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z8rkajSm3w5" style="vertical-align: top"> <td style="padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions</span></td> <td style="padding-left: 7.4pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">0.58</span></td> <td style="padding-left: 0.05in; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">3.56</span></td> <td style="padding-left: 2.9pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">5.24</span></td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000226583Member__dei--DocumentInformationDocumentAxis__custom--RoyceSmallCapSpecialEquityFundAClassMember__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z4FL5LDl1b17" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 4pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">Return After Taxes on Distributions and Sale of Fund Shares</span></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 35pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.4pt; color: #231F20; text-align: right"><span style="font-family: Arial, Helvetica, Sans-Serif">3.78</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 35pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.05in; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">4.77</span></p></td> <td style="border-bottom: #BCBEC0 1pt solid; text-align: right; padding-right: 35pt"><p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.9pt; text-align: right; color: #231F20"><span style="font-family: Arial, Helvetica, Sans-Serif">5.86</span></p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 3000 Index</b></span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--Russell3000IndexFiveMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zxWkdgkoFEe3" style="vertical-align: top"> <td style="border-bottom: rgb(188,190,192) 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><span style="text-decoration: underline">(Reflects no deductions for fees, expenses, or taxes)</span></span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">17.15</span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; padding-left: 4.4pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">13.15</span></td> <td style="border-bottom: rgb(188,190,192) 1pt solid; padding-left: 4.35pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">14.29</span></td></tr> <tr style="vertical-align: top"> <td colspan="4"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Value Index</b></span></td></tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--Russell2000ValueIndexTwoMember__oef--PerformanceMeasureAxis__custom--Russell2000ValueIndexMember_zPSSvGpq61vg" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.8pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.59</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 0.05in; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">8.88</span></td> <td style="border-bottom: #BCBEC0 1pt solid; padding-left: 2.9pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.27</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20"><b>Russell 2000 Index</b></span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td> <td style="text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--DocumentInformationDocumentAxis__custom--Russell2000IndexFiveMember__oef--PerformanceMeasureAxis__custom--Russell3000IndexMember_zQMuKZFi1byj" style="vertical-align: top"> <td style="border-bottom: #BCBEC0 1.5pt solid"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">(Reflects no deductions for fees, expenses, or taxes)</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.8pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">12.81</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 0.05in; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">6.09</span></td> <td style="border-bottom: #BCBEC0 1.5pt solid; padding-left: 2.9pt; text-align: right; padding-right: 35pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #231F20">9.62</span></td></tr> </table> 0.0313 0.0636 0.0768 0.0058 0.0356 0.0524 0.0378 0.0477 0.0586 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 0.1281 0.0609 0.0962 Each GiftShare account pays an annual trustee fee of $50 to Alliance Trust Company, as trustee. Such fee is not included in the total annual Fund operating expenses shown above. If such fee was included, total annual Fund operating expenses would be higher. As of May 1, 2025, the Russell 2500 Value Index replaced the Russell 2000 Index as a securities market index for performance comparison purposes because the Russell 2500 Value Index better reflects the particular market segment in which the Fund primarily invests than the Russell 2000 Index. Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge. For additional information, see “General Shareholder Information – Sales Charges” in this Prospectus. You may buy A Class shares of the Fund at net asset value (without an initial sales charge) at certain financial intermediaries if the amount of such purchase, when combined with certain holdings of various Royce, Franklin Templeton, and Legg Mason funds, equals or exceeds $1,000,000. However, if you redeem those shares within 18 months of their purchase, you will pay a contingent deferred sales charge of 1.00%. Assumes your investment is subject to the maximum initial sales charge of 5.25%. Assumes your investment is not subject to an initial sales charge but that your redemption of all of your shares is subject to a deferred sales charge of 1.00%. Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge. For additional information, see “General Shareholder Information – Sales Charges” in this Prospectus. You may buy A Class shares of the Fund at net asset value (without an initial sales charge), at certain financial intermediaries if the amount of such purchase, when combined with certain holdings of various Royce, Franklin Templeton, and Legg Mason funds, equals or exceeds $1,000,000. However, if you redeem those shares within 18 months of their purchase, you will pay a contingent deferred sales charge of 1.00%. Assumes your investment is subject to the maximum initial sales charge of 5.25%. Assumes your investment is not subject to an initial sales charge but that your redemption of all of your shares is subject to a deferred sales charge of 1.00%. Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge. For additional information, see “General Shareholder Information–Sales Charges” in this Prospectus. You may buy A Class shares of the Fund at net asset value (without an initial sales charge), at certain financial intermediaries if the amount of such purchase, when combined with certain holdings of various Royce, Franklin Templeton, and Legg Mason funds, equals or exceeds $1,000,000. However, if you redeem those shares within 18 months of their purchase, you will pay a contingent deferred sales charge of 1.00%. Assumes your investment is subject to the maximum initial sales charge of 5.25%. Assumes your investment is subject to the maximum initial sales charge of 5.25%. Assumes your investment is not subject to an initial sales charge but that your redemption of all of your shares is subject to a deferred sales charge of 1.00%.