Jay Kaplan from Royce Funds looks towards Main Street as an investment goal: community banks.
Kaplan has co-elected $ 1.7 billion Royce Total Return Fund
for 13 years with Chuck Royce, who has been the leader of the fund for more than 25 years. Management focuses on choosing stable small capital companies that pay dividends as part of a long-term low volatility strategy.
Royce Funds is based in New York, has about $ 12.8 billion in assets under management and is multi-season owned by Legg Mason
A contrarian play
One reason Kaplan likes community banks for investment right now is that the subsector has underperformed. S&P Small Cap 600 Small Cap Index