The Value Line Convertibles objective group covers mutual funds that invest the majority of their assets in an unusual and relatively obscure asset class—convertible bonds and convertible preferred stocks. Indeed, convertibles are a mixture of a bond (or a preferred stock) and a warrant to purchase common stock in the issuing company.
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Value Line’s Aggressive Growth objective group is, by design, fairly broadbased. It is meant to house any equity fund that invests predominantly in higher-risk common stocks or that has a stated policy of maximum growth without regard to income or time horizons. This clearly covers a lot of ground.
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Value Line’s Corporate High-Yield objective group is made up of mutual funds that invest in lower-rated corporate bonds in pursuit of high current income. These bonds are often referred to as “junk,” though that name’s implications are, overall, more negative than this segment of the market deserves.
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Value Line’s European Equity objective group is comprised of mutual funds that are mandated to invest at least 50% of their net assets in equity securities of European companies, though most typically have more than that amount invested in the region.
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Value Line’s Financial Services objective group is a collection of funds that has the stated policy of investing at least 50% of assets in common stocks of financial
Services and related companies.
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Value Line’s Global Equity objective group consists of mutual funds that can own stocks from any country in the world. This is very different from the Foreign objective, in that Global funds can own U.S. stocks while Foreign funds specifically cannot.
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