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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Value Line Funds (MM) | NASDAQ:ACDEX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
|
||
No Load Shares
|
WBADX
|
|
Institutional Shares
|
WBBAX
|
SHAREHOLDER FEES
(fees paid directly from your investment)
|
No Load
|
Institutional
|
Maximum Sales Charge (Load) Imposed on Purchases
|
None
|
None
|
Maximum Deferred Sales Charge (Load)
|
None
|
None
|
Redemption Fee
(as a percentage of amount redeemed on shares held for 60 days or less)
|
2.00%
|
2.00%
|
ANNUAL FUND OPERATING EXPENSES
(expenses that you pay each year as a percentage of the value of your investment)
|
||
Management Fees
|
1.00%
|
1.00%
|
Distribution and Service (Rule 12b-1) Fees
|
0.25%
|
0.00%
|
Other Expenses (includes Shareholder Servicing Plan Fees)
(1)
|
1.26%
|
1.25%
|
Shareholder Servicing Plan Fees
|
0.40%
|
0.40%
|
Acquired Fund Fees and Expenses
|
0.09%
|
0.09%
|
Total Annual Fund Operating Expenses
(2)
|
2.60%
|
2.34%
|
Less: Fee Waiver and Expense Reimbursement
(3)
|
-0.51%
|
-0.50%
|
Net Annual Fund Operating Expenses
|
2.09%
|
1.84%
|
(1)
|
“Other Expenses” have been restated to reflect the maximum amount payable for Shareholder Servicing Plan Fees.
|
(2)
|
Total Annual Fund Operating Expenses do not correlate to the Ratio of Expenses to Average Net Assets Before Expense Reimbursement in the Financial Highlights section of the statutory prospectus, which reflects the actual operating expenses of the Fund and does not include expenses attributed to acquired fund fees and expenses (“AFFE”).
|
(3)
|
WBI Investments, Inc. (the “Advisor”) has contractually agreed to waive a portion or all of its management fees and pay Fund expenses to ensure that Net Annual Fund Operating Expenses (excluding AFFE, interest, taxes and extraordinary expenses) do not exceed 2.00% of average daily net assets for No Load shares and 1.75% of average daily net assets for Institutional shares (the “Expense Caps”). The Expense Caps will remain in effect through at least March 29, 2014, and may be terminated only by the Trust’s Board of Trustees. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date they were paid, subject to the Expense Caps.
|
1 Year
|
3 Years
|
5 Years
|
10 Years
|
|
No Load Shares
|
$212
|
$760
|
$1,335
|
$2,897
|
Institutional Shares
|
$187
|
$683
|
$1,205
|
$2,638
|
·
|
Market Risk
– Either the stock market as a whole, or the value of an individual company, goes down resulting in a decrease in the value of the Fund.
|
·
|
Management Risk
– Your investment in the Fund varies with the success and failure of the Advisor’s investment strategies and the Advisor’s research, analysis, and determination of portfolio securities. If the Advisor’s investment strategies, including its stop loss and goal setting process, do not produce the expected results, the value of the Fund would decrease.
|
·
|
Equity Market Risk
– Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. If you held common stock, or common stock equivalents, of any given issuer, you would generally be exposed to greater risk than if you held preferred stocks and debt obligations of the issuer.
|
·
|
Foreign and Emerging Market Securities Risk –
Foreign investments may carry risks associated with investing outside the United States, such as currency fluctuation, economic or financial instability, lack of timely or reliable financial information or unfavorable political or legal developments. Foreign securities can be more volatile than domestic (U.S.) securities. Securities markets of other countries are generally smaller than U.S. securities markets. Many foreign securities may also be less liquid than U.S. securities, which could affect the Fund’s investments. Investments in emerging markets may have more risk because the markets are less developed and less liquid as well as being subject to increased economic, political, regulatory or other uncertainties.
|
·
|
Investment Style Risk
– The Fund’s investments in dividend-paying common stocks may cause the Fund to underperform funds that do not limit their investments to dividend-paying common stocks during periods when dividend-paying common stocks underperform other types of stocks. In addition, if stocks held by the Fund reduce or stop paying dividends, the Fund’s ability to generate income may be affected.
|
·
|
Fixed Income Securities Risk
– Interest rates may go up resulting in a decrease in the value of the fixed income securities held by the Fund. Credit risk is the risk that an issuer will not make timely payments of principal and interest. There is also the risk that an issuer may “call,” or repay, its high yielding bonds before their maturity dates. Fixed income securities subject to prepayment can offer less potential for gains during a declining interest rate environment and similar or greater potential for loss in a rising interest rate environment. Limited trading opportunities for certain fixed income securities may make it more difficult to sell or buy a security at a favorable price or time.
|
·
|
High-Yield Securities Risk
– The fixed income securities that are rated below investment grade (
i.e.,
“junk bonds”) are subject to additional risk factors such as increased possibility of default liquidation of the security, and changes in value based on public perception of the issuer.
|
·
|
Small and Medium Companies Risk
– Investing in securities of small and medium capitalization companies may involve greater volatility than investing in larger and more established companies because small and medium capitalization companies can be subject to more abrupt or erratic share price changes than larger, more established companies.
|
·
|
ETF and Mutual Fund Risk
– When the Fund invests in an ETF or mutual fund, it will bear additional expenses based on its pro rata share of the ETF’s or mutual fund’s operating expenses, including the potential duplication of management fees. The risk of owning an ETF or mutual fund generally reflects the risks of owning the underlying securities the ETF or mutual fund holds. The Fund also will incur brokerage costs when it purchases ETFs.
|
·
|
Master Limited Partnership Risk
– Investing in Master Limited Partnerships (“MLPs”) entails risk including fluctuations in energy prices, decreases in supply of or demand for energy commodities and various other risks.
|
·
|
Exchange-Traded Note Risk
– The value of an ETN may be influenced by time to maturity, level of supply and demand for the ETN, volatility and lack of liquidity in the underlying securities’ markets, changes in the applicable interest rates, changes in the issuer’s credit rating and economic, legal, political or geographic events that affect the referenced index. In addition, the notes issued by ETNs and held by a fund are unsecured debt of the issuer.
|
·
|
Options Risk
– Options on securities may be subject to greater fluctuations in value than an investment in the underlying securities. Purchasing and writing put and call options are highly specialized activities and entail greater than ordinary investment risks.
|
·
|
Portfolio Turnover Risk
– A high portfolio turnover rate (100% or more) has the potential to result in the realization and distribution to shareholders of higher capital gains, which may subject you to a higher tax liability.
|
·
|
Mortgage-Backed Securities Risk
– In addition to the general risks associated with fixed income securities as described, the structure of certain mortgage-backed securities may make their reaction to interest rates and other factors difficult to predict, which may cause their prices to be very volatile. In particular, the recent events related to the U.S. housing market has had a severe negative impact on the value of some mortgage-backed securities and resulted in an increased risk associated with investments in these securities.
|
Average Annual Total Returns
(for the periods ended December 31, 2012)
Institutional Shares
|
1 Year
|
Since Inception
(12/29/2010)
|
Return before taxes
|
7.99%
|
4.11%
|
Return after taxes on distributions
|
7.62%
|
3.88%
|
Return after taxes on distributions and sale of Fund shares
|
5.41%
|
3.44%
|
No Load Shares
|
||
Return before taxes
|
7.80%
|
3.88%
|
S&P 500
®
Index
(reflects no deduction for fees, expenses or taxes)
|
16.00%
|
8.72%
|
Barclays Capital Government / Credit Bond Index
(reflects no deduction for fees, expenses or taxes)
|
4.82%
|
6.88%
|
50%
S&P 500
®
Index / 50% Barclays Capital Government / Credit Bond Index
(reflects no deduction for fees, expenses or taxes)
|
10.46%
|
8.07%
|
Type of Account
|
To Open
Your
Account
|
To Add to
Your
Account
|
Regular Accounts
|
$2,500
|
$250
|
IRAs (Traditional, Roth, SEP, and SIMPLE IRAs), 403(b) Accounts, Qualified Plan Accounts
|
$1,000
|
Any amount
|
Automatic Investment Plan
|
$2,500
|
$100
|
Type of Account
|
To Open
Your
Account
|
To Add to
Your
Account
|
Regular Accounts
|
$250,000
|
$250
|
IRAs (Traditional, Roth, SEP, and SIMPLE IRAs), 403(b) Accounts, Qualified Plan Accounts
|
$250,000
|
Any amount
|
Automatic Investment Plan
|
$250,000
|
$100
|
1 Year Value Line Funds (MM) Chart |
1 Month Value Line Funds (MM) Chart |
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