Royce Company Holds a Portfolio of Debt Investments

Royce Company holds a portfolio of debt investments.The debt investments are not held-for-collection but managed to profit from interest rate changes.As a result, it accounts for these investments at fair value.As part of its strategic planning process, completed in the fourth quarter of 2015, Royce management decides to move from its prior strategy-which requires active management-to a held-for-collection strategy for these debt investments.The company will account for this change