Royce Global Services Fund
Supplement to Prospectus dated April 30, 1997
The Trust's Board of Trustees recommended approval, at a Special Meeting of
Shareholders to be held on November 25, 1997, of a proposal to change the
Fund's investment objective and a related fundamental policy to allow the
Fund to concentrate its investments in the financial services industry. If the
proposal is approved, the Fund's name will be changed from Royce Global
Services Fund to Royce Financial Services Fund.
October 31, 1997
