to NAV. RVT has from time to time traded at a premium.

Small investors have lost all confidence ....it's been a downward slide since Legg Mason took over and Chuck Royce pursued other interests.

I'm hanging in but unfortunately this one won't see double digits anytime soon.

I hold this in a retirement account so suspending the dividend payout at 9% is ok for me. The fund is leveraged so selling long term holdings at depressed levels just to make the 9% payout plus the preferred payout would have basically liquidated the fund over the next several years.

We've been getting only a return of capital for quite some time.

Maybe the fund managers will make better use of the fund equity and RVT can become a growth vehicle again.

Finally I would say that when I bought in way back in 86 Chuck Royce was regarded as the best small cap advisor....I think that history has proved that not to be the case....RVT has been his best performing public fund and it's returns are marginal at best.

The IPO on this fund was $10 and it's now sub 8 23 years later. Yes there have been substaintial dividend payments but if you've been on the reinvestment program the IRR is sub 6%....