Core Insights - The Royce Global Trust aims for long-term capital growth by investing primarily in small-cap and mid-cap companies, with a focus on global equities [9][3] - As of October 31, 2025, the Fund's net asset value (NAV) is $14.78, while the market price is $12.80, indicating a potential discount for investors [1] Performance Summary - The Fund's average annual total return as of October 31, 2025, shows a year-to-date return of 17.77% for NAV and 19.38% for market price [2] - Over the past one year, the NAV return is 16.55% compared to 16.21% for market price, while the five-year return stands at 9.22% for NAV and 7.80% for market price [2] Portfolio Diagnostics - The average market capitalization of the Fund's holdings is $3.168 billion, with a weighted average P/E ratio of 24.9x and a weighted average P/B ratio of 3.1x [4] - The Fund's net assets total $96.3 million, reflecting a diversified investment strategy [4] Portfolio Composition - The top ten positions in the portfolio account for significant percentages of net assets, with the largest being Tel Aviv Stock Exchange at 4.6% [8] - The leading sectors include Financials (30.3%), Industrials (26.9%), and Information Technology (11.7%) [8] Recent Developments - The Fund typically invests at least 80% of its net assets in equity securities and at least 65% in companies located outside the U.S., indicating a strong international focus [9]