of U.S. companies with
extensive international
operations have shown
excellent long-term
growth
While every investment involves certain risks, international investing involves risks not normally associated with investments in U.S. securities, such as currency exchange risks, risk of foreign political and economic conditions and the possibility of higher brokerage and custodial costs. *
To offer U.S. investors the opportunity to participate in the global economy with fewer risks than with international equity investing, the Value Line U.S. Multinational Company Fund invests primarily in common stocks of U.S. companies that have significant international operations.**
We make our decisions for the Fund using data from the same analysts widely acclaimed for their quality research and the same proprietary computer models, including the Value Line Ranking System for Timeliness™ and the Value Line Ranking System for Performance™, that we use for our corporate and institutional clients.
* The Value Line U.S. Multinational Company Fund offers participation in the global economy through investment in U.S. stocks. It does not offer global diversification and thus should be considered a
vehicle for investing a portion of an investor's assets, and not as a complete investment program.
** Individual stocks may represent non-U.S. sales or earnings of as little as 25%.
with the Value Line
U.S. Multinational
Company Fund...
The Fund seeks to achieve its investment objective by investing primarily in "U.S. Multinational equity securities" which includes common stocks and securities convertible into common stocks such as bonds, debentures, corporate notes and preferred stocks.
"U.S. Multinational equity securities" are defined as securities of companies that derive at least 25% of their sales from outside the United States.
A goal of the Fund is to achieve maximum total return by maintaining an equity portfolio of securities of companies with an aggregate share of at least 50% of sales from outside the United States, although the securities of any individual company may represent non-United States sales of that company of as little as 25%.
Of course, there is no guarantee that the Fund will achieve its objective.
When the Adviser deems it appropriate in the light of economic or market conditions, up to 35% of the Fund's total assets may be held from time to time in cash, U.S. Government securities, or money-market instruments.
