Investment Objective and Strategy
The Fund’s sole investment objective is to realize capital growth.
To achieve the Fund’s investment objective the Adviser invests substantially all of the Fund’s assets in common stock. Under normal circumstances, the Adviser expects that the Fund’s portfolio will generally consist of positions in 30 to 50 companies. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Fund’s investments usually, as measured by the number and total value of purchases, are selected from common stocks of larger companies by capitalization that are ranked 1, 2, or 3 by the Ranking System. The Adviser will determine the percentage of the Fund’s assets invested in each stock based on the stock’s relative attractiveness.
Average Annual Returns as of 08/31/15
|YTD||1 Yr||3 Yr||5 Yr||10 Yr|
|Larger Companies Focused Fund||3.64%||6.66%||16.05%||16.32%||6.71%|
|Lipper Larger Capital Growth Fund||0.80%||3.63%||14.94%||16.11%||7.55%|
|Lipper Ranking as of 08/31/15||-||100/680||154/603||244/525||281/384|
|Gross / Net Expense Ratio*: 1.23% /1.13%
|Gross / Net Expense Ratio*: 1.23% /1.13% (as of 12/31/14)
Morningstar as of 08/31/15
|Category||Large Growth Funds|
|3 Year||of 1528 Funds|
|5 Year||of 1325 Funds|
|10 Year||of 926 Funds|
|Overall||of 1528 Funds|
* Effective May 1, 2015 to June 30, 2016, EULAV Securities LLC (the "Distributor") has contractually agreed to waive a portion of the Fund's 12b-1 fee equal to 0.10% of the Fund's average daily net assets. This waiver can be terminated or changed before June 30, 2016 only with the approval of the Fund's board and the Distributor. The Fund's performance would be lower in the absence of such waivers.
The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact the fund's short term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available at vlfunds.com or by calling 1-800-243-2729.
You should carefully consider investment objectives, risks, charges and expenses of Value Line Funds before investing. This and other information can be found in the fund's prospectus and summary prospectus, which can be obtained free of charge from your investment representative, by calling 800.243.2729, or by clicking on the applicable fund at www.vlfunds.com. Please read it carefully before you invest or send money. The inception dates of Value Line Mutual Funds range from 1950 to 1993. Value Line Funds are distributed by EULAV Securities LLC. Past performance is no guarantee of future results.
Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities. Current and future portfolio holdings are subject to risk.
The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.
The Morningstar Rating™ for funds methodology rates funds based on an enhanced Morningstar Risk-Adjusted Return measure, which also accounts for the effects of all sales charges, loads, or redemption fees. Funds are ranked by their Morningstar Risk-Adjusted Return scores and stars are assigned using the following scale: 5 stars for top 10%; 4 stars next 22.5%; 3 stars next 35%; 2 stars next 22.5%; 1 star for bottom 10%. Funds are rated for up to three periods: the trailing three-, five-, and 10-years. For a fund that does not change categories during the evaluation period, the overall rating is calculated using the following weights: At least 3 years, but less than 5 years uses 100% three-year rating. At least 5 years but less than 10 years uses 60% five-year rating / 40% three-year rating. At least 10 years uses 50% ten-year rating / 30% five-year rating / 20% three-year rating. VALSX (3yr / 4 stars / 637 funds; 5yr / 3 stars / 563; 10yr / 4 stars / 417). VLEOX (3yr / 5 stars / 637; 5yr / 4 stars / 563; 10yr / 4 stars / 417). VLIFX (3yr / 4 stars / 637; 5yr / 2 stars / 563; 10yr / 1 star / 417). VALLX (3yr / 3 stars / 1488; 5yr / 2 stars / 1308; 10yr / 2 stars / 863). VLAAX (3yr / 5 stars / 330; 5yr / 5 stars / 308; 10yr / 5stars / 123). VALIX (3 yr / 3 stars / 789; 5yr / 3 stars / 705; 10yr / 5 stars / 422). VAGIX (3yr / 5 stars /1005; 5yr / 3 stars /873; 10yr / 5 stars / 616). VLHYX (3yr / 2 stars / 221; 5yr / 1star / 207; 10yr / 1 star / 171).