For investors torn between the security of a fixed-income fund and the growth potential of an equity fund, the answer may be investing in a combination of bonds, common or preferred stocks, and convertible securities, which may or may not pay dividends.

Dividend-paying common stocks also tend to temper a portfolio's risk. Because dividends don't fluctuate as much as share price when a company's earnings rise or fall, or when market conditions change, they are considered a fairly reliable source of income. And historically, the share prices of dividend-paying stocks have been less volatile than those of other stocks, so dividends tend to stabilize total returns, too.

Value Line Income and Growth Fund is designed to provide income, as high and dependable as is consistent with reasonable risk*, by investing substantially all of its assets in bonds, stocks, or securities convertible into common stock. Capital growth to increase total return is a secondary objective, and if the Adviser believe that better opportunities for income and appreciation exist in fixed-income securities, the Fund's investment emphasis may be shifted to that type of security. Of course, there is no guarantee that the Fund will achieve its objectives. When shares are redeemed they may be worth more or less than the original cost.

*Of course, there are risks in all investments, including any stock investment, and in all mutual funds that invest in stocks.

The Fund invests primarily in a diversified portfolio of bonds, stocks or securities convertible into common stock. However, there are no limits on the proportions of the Fund's assets that may be invested in common stocks, preferred stocks or bonds, and Fund managers may shift the portfolio's emphasis as market conditions change.