NEW YORK, Sept. 29, 2014 (GLOBE NEWSWIRE) -- Value Line Funds, a mutual fund company comprised of ten funds with assets exceeding $2 billion, announced that the Value Line Core Bond Fund (VAGIX) will undergo a 1-for-3 reverse share split, effective close of business on October 17, 2014.
The reverse split will not impact the value of a shareholder's investment. The reverse split will increase the per share net asset value (NAV) with a proportionate decrease in the number of shares outstanding. For example, every three pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced at three times the net asset value ("NAV") of a pre-split share.
"The reverse split does not change the Fund's mission or any of its holdings," said Mitchell Appel, President of Value Line Funds. "With the reverse split, the change in the Core Bond Fund's NAV will now be less volatile and better reflect its daily performance."
The following table shows the effect of a hypothetical 1-for-3 reverse split:
| 1-for-3 Reverse Split | |||
| Period | Number of Shares | Hypothetical NAV | Value of Shares |
| Pre-Split | 300 | $5.00 | $1,500.00 |
| Post-Split | 100 | $15.00 | $1,500.00 |
About Value Line Funds
In 1950, Value Line started its first mutual fund. Since then, knowledgeable investors have been relying on the Value Line Funds to help them build their financial futures. Over the years, Value Line Funds has evolved into what it is today — a diversified family of mutual funds with a wide range of investment objectives, available directly to investors or through brokerage firms or financial advisors.
Our family of mutual funds is designed to help investors meet investment goals and includes a variety of equity, fixed income, or hybrid funds. It's never too early or too late to build a diversified investment strategy.
For more information about Value Line Funds, please call your financial advisor or contact the Value Line Funds at 800-243-2729. Visit www.vlfunds.com for information on how to open an account, learn more about any of our funds and view past performance.
The Core Bond Fund (formerly Aggressive Income Trust) changed its strategy to a core bond fund on December 10, 2012.
You should carefully consider investment objectives, risks, charges and expenses of Value Line Mutual 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.
Value Line Mutual Funds are distributed by EULAV Securities LLC. Past performance is no guarantee of future results. Value Line, Value Line Logo, Timeliness, Safety are trademarks or registered trademarks of Value Line Inc. and/or its affiliates in the United States and other countries. Used by permission.