Prior to joining the firm in 2006, Francis D. Gannon was Chief Investment Strategist and Portfolio Manager with AIG SunAmerica Asset Management. In 2001, SunAmerica Growth and Income Fund, under his portfolio management, was listed in the fourth edition of Gene Walden's book The 100 Best Mutual Funds to Own in America. He was a regular panelist with Louis Rukeyser's Wall Street for several years.

What do small-cap investors need to know about the election?

Well, to be sure, this has been a very tumultuous election season and it's creating a lot of uncertainty in a variety of different ways.

I guess from our standpoint as a small-cap investor, I have confidence in the fact that outside of the short-term noise that the election will create in the overall market, that buying good businesses, profitable businesses that have proper capital allocation, will be able to take advantage of any environment that comes in the post-election world, and will be better or higher from a business perspective or valuation perspective, in three to five years.

And I think that's the key thing to remember in this world. At this particular time, the key thing to remember is that elections create a lot of short-term noise. But as a long-term investor, you can benefit from the noise and therefore, the opportunities.

The thoughts and opinions expressed in the video are solely those of the persons speaking as of October 13, 2016 and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.

This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Please read the prospectus carefully before investing or sending money. Smaller-cap stocks may involve considerably more risk than larger-cap stocks. (Please see "Primary Risks for Fund Investors" in the prospectus .)