Jay S. Kaplan, CFA, is a Portfolio Manager and Principal for Royce & Associates, LLC, investment adviser to The Royce Funds. Mr. Kaplan manages Royce Value Fund and Royce Capital Fund Small-Cap Portfolio, and serves as Portfolio Manager for Royce Total Return Fund, with Chuck Royce as Lead Portfolio Manager, and Royce Dividend Value Fund, with Chuck Royce as Lead Portfolio Manager. He also serves as an Assistant Portfolio Manager for Royce Pennsylvania Mutual Fund. He has 25 years of investment industry experience. Prior to joining Royce & Associates, LLC, in November 2000, Mr. Kaplan spent 12 years with Prudential Financial, most recently as Managing Director and Portfolio Manager for the Prudential Small Company Value Fund.