Royce Micro-Cap Trust (NYSE: RMT) as of October 31, 2015

Closing Prices October 31, 2015

NAV

$ 9.47

MKT

$ 8.00

Total Return Performance

Periods ended October 31, 2015 

      NAV

      MKT

One Month*                           

4.53%

3.36%

Year-To-Date*           

-10.34

-14.79

One-Year                                

-7.92

-13.33

Three-Year Average Annual

12.27

11.35

Five-Year Average Annual

10.24

10.22

Ten-Year Average Annual

6.70

4.86

*Not annualized

Portfolio Diagnostics

Wtd Average Geometric Market Cap:

$328 million

Wtd. Average P/E Ratio:

18.1*

Wtd. Average P/B Ratio:

1.6x

Net Assets:

$334 million

Net Leverage:

13.1%

*Excludes 21% of portfolio holdings with zero or negative earnings as of 10/31/15.

Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets.

Portfolio Composition

Top 10 Positions                        

% of Net Assets

1.  SurModics           

2.1

2.  Integrated Electrical Svcs.           

1.2

3.  Atrion Corp.                  

1.1

4.  Mesa Laboratories            

1.1

5.  Diamond Hill Investment Group         

1.1

6.  Nautilus                    

1.0

7.  Zealand Pharma          

1.0

8.  MVC Capital                

0.9

9.  Newport Corp.               

0.9

10. ZAIS Group Holdings          

0.9

Top 5  Sectors  

% of Net Assets

1.  Information Technology

27

2.  Financials

22

3.  Industrials

18

4.  Consumer Discretionary

16

5.  HealthCare 

16