-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K0x/iiHLnKfcRiUPKhDoRyobpTlTFbqMPabdRRdYEHijwbZsNGwFoKgi9NCcWPki 0t55eLB8ggpGgFpg1mhsUA== 0000804116-11-000003.txt : 20110301 0000804116-11-000003.hdr.sgml : 20110301 20110301100730 ACCESSION NUMBER: 0000804116-11-000003 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20101231 FILED AS OF DATE: 20110301 DATE AS OF CHANGE: 20110301 EFFECTIVENESS DATE: 20110301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROYCE VALUE TRUST INC CENTRAL INDEX KEY: 0000804116 IRS NUMBER: 133356097 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-04875 FILM NUMBER: 11649422 BUSINESS ADDRESS: STREET 1: 745 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10151 BUSINESS PHONE: 2123557311 MAIL ADDRESS: STREET 1: 745 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10151 NSAR-B 1 answer.fil PAGE 1 000 B000000 12/31/2010 000 C000000 0000804116 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 ROYCE VALUE TRUST, INC. 001 B000000 811-04875 001 C000000 2125084500 002 A000000 745 FIFTH AVENUE 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10151 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 007 C010200 2 007 C010300 3 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 008 A000001 ROYCE & ASSOCIATES, LLC 008 B000001 A 008 C000001 801-8268 008 D010001 NEW YORK 008 D020001 NY 008 D030001 10019 010 A000001 ROYCE & ASSOCIATES, LLC 010 C010001 NEW YORK 010 C020001 NY 010 C030001 10019 012 A000001 COMPUTERSHARE TRUST COMPANY 012 B000001 84-05925 012 C010001 CANTON 012 C020001 MA 012 C030001 02021 013 A000001 TAIT, WELLER & BAKER 013 B010001 PHILADELPHIA 013 B020001 PA 013 B030001 19103 PAGE 2 013 B040001 2108 014 A000001 CARNES CAPITAL CORPORATION 014 B000001 8-33443 014 A000002 LEGG MASON INVESTOR SERVICES, LLC 014 B000002 8-53089 014 A000003 ROYCE FUND SERVICES, INC. 014 B000003 8-28663 015 A000001 STATE STREET BANK AND TRUST COMPANY 015 B000001 C 015 C010001 QUINCY 015 C020001 MA 015 C030001 02170 015 E010001 X 015 A000002 BANK AUSTRIA CREDITANSTALT AG 015 B000002 S 015 C010002 VIENNA 015 D010002 AUSTRIA 015 E040002 X 015 A000003 THE BANK OF BERMUDA 015 B000003 S 015 C010003 HAMILTON 015 D010003 BERMUDA 015 D020003 HMO6 015 E040003 X 015 A000004 STATE STREET BANK AND TRUST COMPANY 015 B000004 S 015 C010004 EDINBURGH 015 D010004 UK 015 D020004 EH5 2AW 015 E040004 X 015 A000005 DEUTSCHE BANK AG, NETHERLANDS 015 B000005 S 015 C010005 AMSTERDAM 015 D010005 NETHERLANDS 015 E040005 X 015 A000006 STATE STREET TRUST COMPANY CANADA 015 B000006 S 015 C010006 TORONTO 015 D010006 CANADA 015 D020006 M5C 3G6 015 E040006 X 015 A000007 UBS AG 015 B000007 S 015 C010007 ZURICH 015 D010007 SWITZERLAND 015 D020007 8098 015 E040007 X 015 A000008 DEUTSCHE BANK AG 015 B000008 S 015 C010008 ESCHBORN 015 D010008 GERMANY PAGE 3 015 D020008 D-65760 015 E040008 X 015 A000009 SKANDINAVISKA ENSKILDA BANKEN AB (SEB) 015 B000009 S 015 C010009 COPENHAGEN K 015 D010009 DENMARK 015 D020009 DK-1014 015 E040009 X 015 A000010 SEB MERCHANT BANKING 015 B000010 S 015 C010010 HELSINKI 015 D010010 FINLAND 015 D020010 SF-00101 015 E040010 X 015 A000011 CITIBANK N.A. 015 B000011 S 015 C010011 BUENOS AIRES 015 D010011 ARGENTINA 015 E040011 X 015 A000012 STANDARD CHARTERED BANK (HONG KONG) LIMITED 015 B000012 S 015 C010012 KWUN TONG 015 D010012 HONG KONG 015 E040012 X 015 A000013 DEUTSCHE BANK S.P.A. 015 B000013 S 015 C010013 MILAN 015 D010013 ITALY 015 E040013 X 015 A000014 HONG KONG & SHANGHAI BANKING CORP 015 B000014 S 015 C010014 TOKYO 015 D010014 JAPAN 015 E040014 X 015 A000015 HSBC BANK MIDDLE EAST LTD 015 B000015 S 015 C010015 DUBAI 015 D010015 UNITED ARAB EMIRATES 015 E040015 X 015 A000016 SEB MERCHANT BANKING 015 B000016 S 015 C010016 OSLO 015 D010016 NORWAY 015 E040016 X 015 A000017 SKANDINAVISKA ENSKILDA BANKEN (SEB) 015 B000017 S 015 C010017 STOCKHOLM 015 D010017 SWEDEN 015 E040017 X 015 A000018 CITIBANK N.A. 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E020000 0 086 F010000 0 086 F020000 0 087 A010000 COMMON STOCK 087 A020000 780910105 087 A030000 RVT PAGE 14 087 B010000 CUMULATIVE PREFERRED STOCK 087 B020000 780910402 087 B030000 RVT.PRB 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 Y SIGNATURE DANI ENG TITLE ASSISTANT SECRETARY EX-99.77B ACCT LTTR 2 rvt77b10.htm TAIT, WELLER & BAKER LLP
Certified Public Accountants

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors
Royce Value Trust, Inc.
New York, New York

In planning and performing our audits of the financial statements of Royce Value Trust, Inc. ("Fund") as of and for the year ended December 31, 2010, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered their internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principle s, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Board of Directors
Royce Value Trust, Inc.
Page Two

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls for safeguarding securities, which we consider to be material weaknesses, as defined above, as of December 31, 2010.

This report is intended solely for the information and use of management, and the Board of Directors of Royce Value Trust, Inc. and the Securities and Exchange Commission, and is not intended to be and should not be used by anyone other than these specified parties.

/s/ Tait, Weller & Baker LLP

TAIT, WELLER & BAKER LLP

Philadelphia, Pennsylvania
February 23, 2011
EX-99.77C VOTES 3 rvt77c10.htm Exhibit 77C

ROYCE VALUE TRUST, INC.

At the 2010 Annual Meeting of Stockholders held on September 22, 2010, the Fund's stockholders elected five Directors, consisting of:

	Votes For	Votes Withheld
*Richard M. Galkin	62,314,115	3,213,711
*Mark R. Fetting	62,421,082	3,106,744
*Arthur S. Mehlman	62,393,552	3,134,274
**Patricia W. Chadwick	8,227,830	123,498
**David L. Meister	8,213,522	137,806

*Common Stock and Preferred Stock voting together as a single class
**Preferred Stock voting as a separate class

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