Royce Discovery Fund may invest 25% of assets in foreign securities

By Tali David

Minneapolis, Dec. 5 -Royce Discovery Fund said it may invest up to 25% of its net assets in foreign securities, according to a release.

The change is effective Dec. 6.

The fund said that because it 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, according to the release.

The Royce Funds are based in Kansas City, Mo.

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