0001144204-18-001613.txt : 20180110 0001144204-18-001613.hdr.sgml : 20180110 20180110112901 ACCESSION NUMBER: 0001144204-18-001613 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 14 FILED AS OF DATE: 20180110 DATE AS OF CHANGE: 20180110 EFFECTIVENESS DATE: 20180110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Value Line Mid Cap Focused Fund, Inc. CENTRAL INDEX KEY: 0000102756 IRS NUMBER: 133139843 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-10827 FILM NUMBER: 18520795 BUSINESS ADDRESS: STREET 1: 7 TIMES SQUARE CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212 907-1900 MAIL ADDRESS: STREET 1: 7 TIMES SQUARE CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: VALUE LINE FUND INC DATE OF NAME CHANGE: 19920703 0000102756 S000007570 VALUE LINE MID CAP FOCUSED FUND, INC. C000020635 VALUE LINE MID CAP FOCUSED FUND, INC. VLIFX C000193014 Institutional Class VLMIX 497 1 tv482019_497.htm 497

 

 

Value Line Mid Cap Focused Fund, Inc.

7 Times Square

New York, NY 10036

212-907-1850

 

 

January 10, 2018

 

 

Securities and Exchange Commission

Washington, D.C. 20549

 

    Re: Value Line Mid Cap Focused Fund, Inc.
      File Nos.2-10827; 811-02265
      Rule 497

 

 

Dear Sir/Madam:

 

We are filing today via EDGAR an exhibit under Rule 497 containing interactive data format risk/return summary information. The exhibit mirrors the risk/return summary information in the prospectus dated January 1, 2018.

 

Should you have any questions regarding this filing, please do not hesitate to contact the undersigned at (212)907-1850.

 

      Sincerely yours,
       
       
      /s/ Peter D. Lowenstein
      Peter D. Lowenstein
      Legal Counsel

 

 

EX-101.INS 2 vlifx-20180101.xml XBRL INSTANCE DOCUMENT 0000102756 2018-01-01 2018-01-01 0000102756 vlifx:S000007570Member vlifx:C000020635Member 2018-01-01 2018-01-01 0000102756 vlifx:S000007570Member vlifx:C000020635Member rr:AfterTaxesOnDistributionsMember 2018-01-01 2018-01-01 0000102756 vlifx:S000007570Member vlifx:C000020635Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-01-01 2018-01-01 0000102756 vlifx:S000007570Member vlifx:SP500IndexMember 2018-01-01 2018-01-01 0000102756 vlifx:S000007570Member 2018-01-01 2018-01-01 0000102756 vlifx:S000007570Member vlifx:C000020636Member 2018-01-01 2018-01-01 xbrli:pure iso4217:USD <div><i><font style="font-family: times new roman,times;" size="2">Value Line Mid Cap Focused Fund, Inc.</font></i></div> <div><i><font style="font-family: times new roman,times;" size="2"><b>Investment objectives</b></font></i></div> <div><font style="font-family: times new roman,times;" size="2">The Fund&#8217;s sole investment objective is long-term growth of capital.</font></div> <div><font style="font-family: times new roman,times;" size="2"><i><b>Fees and expenses</b></i></font></div> <div><font style="font-family: times new roman,times;" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. There are no shareholder fees (fees paid directly from your investment) when you buy and sell shares of the Fund. Future expenses may be greater or less.</font></div> <div><b style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><i>Annual Fund Operating Expenses </i></b><b style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><i>(expenses that you pay each year as a percentage of the value of your investment)</i></b></div> <div style='display: none;'> ~ http://www.vlfunds.com/role/ScheduleAnnualFundOperatingExpensesVALUELINEFUNDINC column dei_LegalEntityAxis compact vlifx_S000007570Member row primary compact * ~ </div> <div><b style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><i>Example</i></b></div> <div><font style="font-family: times new roman,times;" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Fund&#8217;s operating expenses remain the same and that the fee waiver and expense reimbursement is in place through June 30, 2019 only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font></div> <div style='display: none;'> ~ http://www.vlfunds.com/role/ExpenseExampleTransposed column dei_LegalEntityAxis compact vlifx_S000007570Member row primary compact * ~ </div> <div><b style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Portfolio turnover</b></div> <div><font style="font-family: times new roman,times;" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year the Fund&#8217;s portfolio turnover rate was 20% of the average value of its portfolio.</font></div> <div><font style="font-family: times new roman,times;" size="2"><i><b>Principal investment strategies of the Fund </b></i></font></div> <div> <div style="line-height: 11.5pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">To achieve the Fund's investment objective, the Adviser invests substantially all of the Fund's net assets in common stocks. Under normal circumstances, the Adviser invests at least 80% of the Fund's assets in common stocks and other equity securities of mid-sized companies (the "80% Policy"). The Fund considers companies to be mid-sized if they have market capitalizations between $3 billion and $20 billion at the time of purchase. The 80% policy can be changed without shareholder approval upon at least 60 days, prior written notice. Under normal circumstances, the Adviser expects that the Fund's portfolio will generally consist of positions in 25 to 50 companies. The Fund is actively managed by the Adviser, which seeks to purchase mid-cap growth companies that have fundamentally strong market positions in growing industries that may enable those companies to increase future sales and earnings at an above average pace in the coming years. During the investment selection process, the Adviser performs fundamental and quantitative analysis on each company and utilizes the rankings of companies by the Value Line Timeliness&#8482; Ranking System (the "Ranking System") to assist in selecting securities for purchase. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 90% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets.</div> <div style="line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The Adviser may sell securities for a variety of reasons, including when a company's business fundamentals deteriorate or a company's valuation has become less attractive in relationship to the company's future growth prospects. Other reasons include to secure gains, limit losses or redeploy assets into more promising investment opportunities.</div> <div style="line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The Adviser has discretion in managing the Fund, including whether and which ranked stocks to include within the Fund's portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund's portfolio. The Adviser will determine the percentage of the Fund's assets invested in each stock based on the stock's relative attractiveness taking into account the potential risk and reward of each investment.</div> </div> <div><font style="font-family: times new roman,times;" size="2"><i><b>Principal risks of investing in the Fund</b></i></font></div> <p style="line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 0pt; text-indent: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose money. Therefore, before you invest in the Fund you should carefully evaluate the risks.</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Mid-Sized Company Risk.&#160;</font>The equity securities of mid-sized companies typically involve greater investment risks than larger, more established companies because they often have greater price volatility, lower trading volume, and less liquidity, especially over the short term. As compared to larger companies, mid-sized companies may have limited management experience or depth, limited ability to generate or borrow capital needed for growth, and limited products or services, or operate in markets that have not yet been established. Accordingly, mid-sized company securities tend to be more sensitive to changing economic, market and industry conditions. Mid-sized companies also may fall out of favor relative to larger companies in certain market cycles, causing the Fund to incur losses or underperform.</p><p style="line-height: 0pt; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0pt; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; clear: both; font-size: 0pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; padding: 0pt;">&#160;</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Market Risk.&#160;</font>The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy, or the market as a whole.</p><p style="line-height: 0pt; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0pt; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; clear: both; font-size: 0pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; padding: 0pt;">&#160;</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Equity Securities Risk.</font>&#160;Equity securities represent ownership in a corporation and their prices fluctuate for a number of reasons including issuer-specific events, market perceptions and general movements in the equity markets. The resulting fluctuation in the price of equity securities may take the form of a drastic movement or a sustained trend. If an issuer is liquidated or declares bankruptcy, the claims of owners of bonds will take precedence over the claims of owners of common stocks. Historically, the prices of equity securities have fluctuated more than bond prices.</p><p style="line-height: 0pt; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0pt; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; clear: both; font-size: 0pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; padding: 0pt;">&#160;</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Ranking System Risk.&#160;</font>The Adviser's use of the results of the Ranking Systems in managing the Fund involves the risk that the Ranking Systems may not have the predictive qualities anticipated by the Adviser or that over certain periods of time the price of securities not covered by the Ranking Systems, or lower ranked securities, may appreciate to a greater extent than those securities in the Fund's portfolio.</p><p style="line-height: 0pt; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0pt; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; clear: both; font-size: 0pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; padding: 0pt;">&#160;</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Active Management Risk.&#160;</font>Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. There can be no guarantee that the Adviser's investment strategies will produce the desired results.</p><p style="line-height: 0pt; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0pt; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; clear: both; font-size: 0pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; padding: 0pt;">&#160;</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Cyber Security Risk.&#160;</font>As the use of technology becomes more prevalent in the course of business, the Fund becomes more susceptible to operational, financial and information security risks resulting from cyber-attacks and/or technological malfunctions. Successful cyber-attacks and/or technological malfunctions affecting the Fund or its service providers can result in, among other things, financial losses to the Fund and its shareholders, the inability to process transactions with shareholders or other parties and the release of private shareholder information or confidential Fund information. While measures have been developed which are designed to reduce the risks associated with cyber security, there are inherent limitations in such measures and there is no guarantee those measures will be effective, particularly since the Fund does not directly control the cyber security measures of its service providers, financial intermediaries or companies in which it invests or with which it does business.</p><p style="text-align: left; line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: -27px; font-family: 'times new roman'; white-space: normal; orphans: 2; margin-bottom: 0pt; letter-spacing: normal; color: #000000; margin-left: 27px; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#9632;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic; font-weight: bold;">Liquidity Risk.</font>&#160;In October 2016, the Securities and Exchange Commision (the "SEC") adopted Rule 22e-4 under the Investment Company Act of 1940 (the "1940 Act"), which mandates certain liquidity risk management practices for open-end funds, including the Fund, by 2018. The precise impact the rule will have on the Fund and on the open-end fund industry has not yet been determined, but any related changes may negatively affect the Fund's expenses, yield and return potential.</p><p style="line-height: 0pt; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0pt; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; clear: both; font-size: 0pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; padding: 0pt;">&#160;</p><p style="line-height: 12pt; widows: 2; text-transform: none; font-style: normal; margin-top: 4pt; text-indent: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; margin-bottom: 0pt; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 35.</p> <div><font style="font-family: times new roman,times;" size="2"><i><b>Fund performance</b></i></font></div> <div><font style="font-family: times new roman,times;" size="2">This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund&#8217;s Investor Class shares have varied over the past ten calendar years. The table below compares the performance of the Investor Class and Institutional Class shares to the performance of the S&amp;P 500<font style="position: relative; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; bottom: 4.25pt; font-family: 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 7.5pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#174;</font>&#160;Index, which is a broad based market index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at: www.vlfunds.com.</font></div> <div><i><b><font style="font-family: times new roman,times;" size="2">Total returns of Investor Class (before taxes) as of 12/31 each year (%)</font></b></i></div> <div style='display: none;'> ~ http://www.vlfunds.com/role/Barchartscheduleannualtotalreturnsvaluelinefundinc column dei_LegalEntityAxis compact vlifx_S000007570Member row primary compact * ~ </div> <div><b><font style="font-family: times new roman,times;" size="2">Best Quarter:&#160;&#160;&#160;&#160;&#160;&#160;&#160; Q3 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; +12.70</font></b><br /><b><font style="font-family: times new roman,times;" size="2">Worst Quarter:&#160;&#160;&#160;&#160; Q4 2008&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8211;27.78&#160;</font></b><br /><font style="font-family: times new roman,times;" size="2">&#160;</font></div><div><font style="font-family: times new roman,times;" size="2">After-tax returns included in the table below are shown for Investor Class shares only and the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns for Institutional Class shares will vary from those of Investor Class shares shown in the table below. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#8220;IRAs&#8221;).</font></div> <div><b style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><i>Average Annual Total Returns for Periods Ended December 31, 2016</i></b></div> <div style='display: none;'> ~ http://www.vlfunds.com/role/ScheduleAverageAnnualTotalReturnsVALUELINEFUNDINCTransposed column dei_LegalEntityAxis compact vlifx_S000007570Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ </div> 497 2017-06-30 Value Line Mid Cap Focused Fund, Inc. 0000102756 false VLIFX VLMIX 2017-11-29 2017-12-22 2018-01-01 0.0065 0.0065 0.0025 0.0000 0.0031 0.0031 0.0121 0.0096 0.0000 0.0000 0.0121 0.0096 0.20 123 98 384 306 665 531 1466 1178 <div><font style="font-family: times new roman,times; ; font-family: times new roman,times;" size="2">To achieve the Fund&#8217;s investment objective, the Adviser&#160; invests substantially all of the Fund&#8217;s net assets in common stocks. Under normal circumstances, the Adviser invests at least 80% of the Fund&#8217;s assets in common stocks and other equity securities of mid-sized companies (the &#8220;80% Policy&#8221;). The Fund considers companies to be mid-sized if they have market capitalizations between $3 billion and $20 billion at the time of purchase. The 80% policy can be changed without shareholder approval upon at least 60 days, prior written notice. Under normal circumstances, the Adviser expects that the Fund&#8217;s portfolio will generally consist of positions in 25 to 50 companies. The Fund is actively managed by the Adviser, which seeks to purchase mid-cap growth companies that have fundamentally strong market positions in growing industries that may enable those companies to increase future sales and earnings at an above average pace in the coming years. During the investment selection process, the Adviser performs fundamental and quantitative analysis on each company and utilizes the rankings of companies by the Value Line Timeliness&#8482; Ranking System (the &#8220;Ranking System&#8221;) to assist in selecting securities for purchase. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 90% of the market capitalization of all stocks traded on the U.S. securities exchanges.</font></div> <div><font style="font-family: times new roman,times;" size="2">Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose money.</font></div> <div><font style="font-family: times new roman,times;" size="2">An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.</font></div> <div><font style="font-family: times new roman,times;" size="2">This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund&#8217;s Investor Class shares have varied over the past ten calendar years. The table below compares the performance of the Investor Class and Institutional Class shares to the performance of the S&amp;P 500<font style="position: relative; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; bottom: 4.25pt; font-family: 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 7.5pt; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#174;</font>&#160;Index, which is a broad based market index.</font></div> <div><font style="font-family: times new roman,times;" size="2">www.vlfunds.com</font></div> <div><font style="font-family: times new roman,times;" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.&#160;</font></div> 0.195 -0.4928 0.0949 0.2555 0.0575 0.146 0.3086 0.079 0.0295 0.1094 <div><font style="font-family: times new roman,times;" size="2"><b>Best Quarter:</b></font></div> 2010-09-30 0.127 <div><font style="font-family: times new roman,times;" size="2"><b>Worst Quarter:</b></font></div> 2008-12-31 -0.2778 <div><font style="font-family: times new roman,times;" size="2">Reflects no deduction for fees, expenses or taxes</font></div> <div><font style="font-family: times new roman,times;" size="2">After-tax returns included in the table below are shown for Investor Class shares only and the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font></div> <div><font style="font-family: times new roman,times;" size="2">Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#8220;IRAs&#8221;).</font></div> Return before taxes Return after taxes on distributions Return after taxes on distributions and sale of Fund shares S&amp;P&#174; 500 Index (reflects no deduction for fees, expenses or taxes) 0.1094 0.1037 0.0667 0.1196 0.1307 0.1293 0.1048 0.1466 0.0500 0.0437 0.0375 0.0695 The Management Fees and Other Expenses have been restated to reflect current fees and expenses for the Fund following the unbundling of its management fee from amounts payable for administrative services provided by EULAV Asset Management (the "Adviser"). Total Annual Fund Operating Expenses are not affected by such unbundling. The Adviser and EULAV Securities LLC, the Fund’s principal underwriter (the “Distributor”), have agreed to waive certain class-specific fees and/or pay certain class-specific expenses incurred by the Institutional Class so that the Institutional Class bears its class-specific fees and expenses at the same percentage of its average daily net assets as the Investor Class’s class-specific fees and expenses (excluding 12b-1 fees and any extraordinary expenses incurred in different amounts by the classes) (the “Expense Limitation”). The information regarding the Institutional Class in the table has been restated to reflect the Expense Limitation. The Adviser and the Distributor may subsequently recover from assets attributable to the Institutional Class the reimbursed expenses and/or waived fees (within 3 years after the fiscal year end in which the waiver/reimbursement occurred) to the extent that the Institutional Class’s expense ratio is less than the Expense Limitation or, if lower, the expense limitation in effect when the waiver/reimbursement occurred. The Expense Limitation can be terminated or modified before June 30, 2019 only with the agreement of the Fund’s board. 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Value Line Mid Cap Focused Fund, Inc.
Value Line Mid Cap Focused Fund, Inc.
Investment objectives
The Fund’s sole investment objective is long-term growth of capital.
Fees and expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. There are no shareholder fees (fees paid directly from your investment) when you buy and sell shares of the Fund. Future expenses may be greater or less.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Value Line Mid Cap Focused Fund, Inc.
Investor Class
Institutional Class
Management Fees [1] 0.65% 0.65%
Distribution and Service (12b-1) Fees 0.25% none
Other Expenses [1] 0.31% 0.31%
Total Annual Fund Operating Expenses 1.21% 0.96%
Less Fee Waiver and Expense Reimbursement [2] none none
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement 1.21% 0.96%
[1] The Management Fees and Other Expenses have been restated to reflect current fees and expenses for the Fund following the unbundling of its management fee from amounts payable for administrative services provided by EULAV Asset Management (the "Adviser"). Total Annual Fund Operating Expenses are not affected by such unbundling.
[2] The Adviser and EULAV Securities LLC, the Fund’s principal underwriter (the “Distributor”), have agreed to waive certain class-specific fees and/or pay certain class-specific expenses incurred by the Institutional Class so that the Institutional Class bears its class-specific fees and expenses at the same percentage of its average daily net assets as the Investor Class’s class-specific fees and expenses (excluding 12b-1 fees and any extraordinary expenses incurred in different amounts by the classes) (the “Expense Limitation”). The information regarding the Institutional Class in the table has been restated to reflect the Expense Limitation. The Adviser and the Distributor may subsequently recover from assets attributable to the Institutional Class the reimbursed expenses and/or waived fees (within 3 years after the fiscal year end in which the waiver/reimbursement occurred) to the extent that the Institutional Class’s expense ratio is less than the Expense Limitation or, if lower, the expense limitation in effect when the waiver/reimbursement occurred. The Expense Limitation can be terminated or modified before June 30, 2019 only with the agreement of the Fund’s board.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Fund’s operating expenses remain the same and that the fee waiver and expense reimbursement is in place through June 30, 2019 only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example - Value Line Mid Cap Focused Fund, Inc. - USD ($)
1 year
3 years
5 years
10 years
Investor Class 123 384 665 1,466
Institutional Class 98 306 531 1,178
Portfolio turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year the Fund’s portfolio turnover rate was 20% of the average value of its portfolio.
Principal investment strategies of the Fund
To achieve the Fund's investment objective, the Adviser invests substantially all of the Fund's net assets in common stocks. Under normal circumstances, the Adviser invests at least 80% of the Fund's assets in common stocks and other equity securities of mid-sized companies (the "80% Policy"). The Fund considers companies to be mid-sized if they have market capitalizations between $3 billion and $20 billion at the time of purchase. The 80% policy can be changed without shareholder approval upon at least 60 days, prior written notice. Under normal circumstances, the Adviser expects that the Fund's portfolio will generally consist of positions in 25 to 50 companies. The Fund is actively managed by the Adviser, which seeks to purchase mid-cap growth companies that have fundamentally strong market positions in growing industries that may enable those companies to increase future sales and earnings at an above average pace in the coming years. During the investment selection process, the Adviser performs fundamental and quantitative analysis on each company and utilizes the rankings of companies by the Value Line Timeliness™ Ranking System (the "Ranking System") to assist in selecting securities for purchase. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 90% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets.
The Adviser may sell securities for a variety of reasons, including when a company's business fundamentals deteriorate or a company's valuation has become less attractive in relationship to the company's future growth prospects. Other reasons include to secure gains, limit losses or redeploy assets into more promising investment opportunities.
The Adviser has discretion in managing the Fund, including whether and which ranked stocks to include within the Fund's portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund's portfolio. The Adviser will determine the percentage of the Fund's assets invested in each stock based on the stock's relative attractiveness taking into account the potential risk and reward of each investment.
Principal risks of investing in the Fund

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose money. Therefore, before you invest in the Fund you should carefully evaluate the risks.

■      Mid-Sized Company Risk. The equity securities of mid-sized companies typically involve greater investment risks than larger, more established companies because they often have greater price volatility, lower trading volume, and less liquidity, especially over the short term. As compared to larger companies, mid-sized companies may have limited management experience or depth, limited ability to generate or borrow capital needed for growth, and limited products or services, or operate in markets that have not yet been established. Accordingly, mid-sized company securities tend to be more sensitive to changing economic, market and industry conditions. Mid-sized companies also may fall out of favor relative to larger companies in certain market cycles, causing the Fund to incur losses or underperform.

 

■      Market Risk. The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy, or the market as a whole.

 

■      Equity Securities Risk. Equity securities represent ownership in a corporation and their prices fluctuate for a number of reasons including issuer-specific events, market perceptions and general movements in the equity markets. The resulting fluctuation in the price of equity securities may take the form of a drastic movement or a sustained trend. If an issuer is liquidated or declares bankruptcy, the claims of owners of bonds will take precedence over the claims of owners of common stocks. Historically, the prices of equity securities have fluctuated more than bond prices.

 

■      Ranking System Risk. The Adviser's use of the results of the Ranking Systems in managing the Fund involves the risk that the Ranking Systems may not have the predictive qualities anticipated by the Adviser or that over certain periods of time the price of securities not covered by the Ranking Systems, or lower ranked securities, may appreciate to a greater extent than those securities in the Fund's portfolio.

 

■      Active Management Risk. Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. There can be no guarantee that the Adviser's investment strategies will produce the desired results.

 

■     Cyber Security Risk. As the use of technology becomes more prevalent in the course of business, the Fund becomes more susceptible to operational, financial and information security risks resulting from cyber-attacks and/or technological malfunctions. Successful cyber-attacks and/or technological malfunctions affecting the Fund or its service providers can result in, among other things, financial losses to the Fund and its shareholders, the inability to process transactions with shareholders or other parties and the release of private shareholder information or confidential Fund information. While measures have been developed which are designed to reduce the risks associated with cyber security, there are inherent limitations in such measures and there is no guarantee those measures will be effective, particularly since the Fund does not directly control the cyber security measures of its service providers, financial intermediaries or companies in which it invests or with which it does business.

■      Liquidity Risk. In October 2016, the Securities and Exchange Commision (the "SEC") adopted Rule 22e-4 under the Investment Company Act of 1940 (the "1940 Act"), which mandates certain liquidity risk management practices for open-end funds, including the Fund, by 2018. The precise impact the rule will have on the Fund and on the open-end fund industry has not yet been determined, but any related changes may negatively affect the Fund's expenses, yield and return potential.

 

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 35.

Fund performance
This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s Investor Class shares have varied over the past ten calendar years. The table below compares the performance of the Investor Class and Institutional Class shares to the performance of the S&P 500® Index, which is a broad based market index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at: www.vlfunds.com.
Total returns of Investor Class (before taxes) as of 12/31 each year (%)
Bar Chart
Best Quarter:        Q3 2010         +12.70
Worst Quarter:     Q4 2008         –27.78 
 
After-tax returns included in the table below are shown for Investor Class shares only and the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns for Institutional Class shares will vary from those of Investor Class shares shown in the table below. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Value Line Mid Cap Focused Fund, Inc.
Label
1 year
5 years
10 years
Investor Class Return before taxes 10.94% 13.07% 5.00%
Investor Class | Return after taxes on distributions Return after taxes on distributions 10.37% 12.93% 4.37%
Investor Class | Return after taxes on distributions and sale of Fund shares Return after taxes on distributions and sale of Fund shares 6.67% 10.48% 3.75%
S&P 500 Index S&P® 500 Index (reflects no deduction for fees, expenses or taxes) 11.96% 14.66% 6.95%
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Jun. 30, 2017
Registrant Name dei_EntityRegistrantName Value Line Mid Cap Focused Fund, Inc.
Central Index Key dei_EntityCentralIndexKey 0000102756
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Nov. 29, 2017
Document Effective Date dei_DocumentEffectiveDate Dec. 22, 2017
Prospectus Date rr_ProspectusDate Jan. 01, 2018
Value Line Mid Cap Focused Fund, Inc.  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Value Line Mid Cap Focused Fund, Inc.
Objective [Heading] rr_ObjectiveHeading
Investment objectives
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Fund’s sole investment objective is long-term growth of capital.
Expense [Heading] rr_ExpenseHeading
Fees and expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. There are no shareholder fees (fees paid directly from your investment) when you buy and sell shares of the Fund. Future expenses may be greater or less.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading
Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year the Fund’s portfolio turnover rate was 20% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 20.00%
Expense Example [Heading] rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Fund’s operating expenses remain the same and that the fee waiver and expense reimbursement is in place through June 30, 2019 only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading
Principal investment strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
To achieve the Fund's investment objective, the Adviser invests substantially all of the Fund's net assets in common stocks. Under normal circumstances, the Adviser invests at least 80% of the Fund's assets in common stocks and other equity securities of mid-sized companies (the "80% Policy"). The Fund considers companies to be mid-sized if they have market capitalizations between $3 billion and $20 billion at the time of purchase. The 80% policy can be changed without shareholder approval upon at least 60 days, prior written notice. Under normal circumstances, the Adviser expects that the Fund's portfolio will generally consist of positions in 25 to 50 companies. The Fund is actively managed by the Adviser, which seeks to purchase mid-cap growth companies that have fundamentally strong market positions in growing industries that may enable those companies to increase future sales and earnings at an above average pace in the coming years. During the investment selection process, the Adviser performs fundamental and quantitative analysis on each company and utilizes the rankings of companies by the Value Line Timeliness™ Ranking System (the "Ranking System") to assist in selecting securities for purchase. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 90% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets.
The Adviser may sell securities for a variety of reasons, including when a company's business fundamentals deteriorate or a company's valuation has become less attractive in relationship to the company's future growth prospects. Other reasons include to secure gains, limit losses or redeploy assets into more promising investment opportunities.
The Adviser has discretion in managing the Fund, including whether and which ranked stocks to include within the Fund's portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund's portfolio. The Adviser will determine the percentage of the Fund's assets invested in each stock based on the stock's relative attractiveness taking into account the potential risk and reward of each investment.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration
To achieve the Fund’s investment objective, the Adviser  invests substantially all of the Fund’s net assets in common stocks. Under normal circumstances, the Adviser invests at least 80% of the Fund’s assets in common stocks and other equity securities of mid-sized companies (the “80% Policy”). The Fund considers companies to be mid-sized if they have market capitalizations between $3 billion and $20 billion at the time of purchase. The 80% policy can be changed without shareholder approval upon at least 60 days, prior written notice. Under normal circumstances, the Adviser expects that the Fund’s portfolio will generally consist of positions in 25 to 50 companies. The Fund is actively managed by the Adviser, which seeks to purchase mid-cap growth companies that have fundamentally strong market positions in growing industries that may enable those companies to increase future sales and earnings at an above average pace in the coming years. During the investment selection process, the Adviser performs fundamental and quantitative analysis on each company and utilizes the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) to assist in selecting securities for purchase. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 90% of the market capitalization of all stocks traded on the U.S. securities exchanges.
Risk [Heading] rr_RiskHeading
Principal risks of investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose money. Therefore, before you invest in the Fund you should carefully evaluate the risks.

■      Mid-Sized Company Risk. The equity securities of mid-sized companies typically involve greater investment risks than larger, more established companies because they often have greater price volatility, lower trading volume, and less liquidity, especially over the short term. As compared to larger companies, mid-sized companies may have limited management experience or depth, limited ability to generate or borrow capital needed for growth, and limited products or services, or operate in markets that have not yet been established. Accordingly, mid-sized company securities tend to be more sensitive to changing economic, market and industry conditions. Mid-sized companies also may fall out of favor relative to larger companies in certain market cycles, causing the Fund to incur losses or underperform.

 

■      Market Risk. The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy, or the market as a whole.

 

■      Equity Securities Risk. Equity securities represent ownership in a corporation and their prices fluctuate for a number of reasons including issuer-specific events, market perceptions and general movements in the equity markets. The resulting fluctuation in the price of equity securities may take the form of a drastic movement or a sustained trend. If an issuer is liquidated or declares bankruptcy, the claims of owners of bonds will take precedence over the claims of owners of common stocks. Historically, the prices of equity securities have fluctuated more than bond prices.

 

■      Ranking System Risk. The Adviser's use of the results of the Ranking Systems in managing the Fund involves the risk that the Ranking Systems may not have the predictive qualities anticipated by the Adviser or that over certain periods of time the price of securities not covered by the Ranking Systems, or lower ranked securities, may appreciate to a greater extent than those securities in the Fund's portfolio.

 

■      Active Management Risk. Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. There can be no guarantee that the Adviser's investment strategies will produce the desired results.

 

■     Cyber Security Risk. As the use of technology becomes more prevalent in the course of business, the Fund becomes more susceptible to operational, financial and information security risks resulting from cyber-attacks and/or technological malfunctions. Successful cyber-attacks and/or technological malfunctions affecting the Fund or its service providers can result in, among other things, financial losses to the Fund and its shareholders, the inability to process transactions with shareholders or other parties and the release of private shareholder information or confidential Fund information. While measures have been developed which are designed to reduce the risks associated with cyber security, there are inherent limitations in such measures and there is no guarantee those measures will be effective, particularly since the Fund does not directly control the cyber security measures of its service providers, financial intermediaries or companies in which it invests or with which it does business.

■      Liquidity Risk. In October 2016, the Securities and Exchange Commision (the "SEC") adopted Rule 22e-4 under the Investment Company Act of 1940 (the "1940 Act"), which mandates certain liquidity risk management practices for open-end funds, including the Fund, by 2018. The precise impact the rule will have on the Fund and on the open-end fund industry has not yet been determined, but any related changes may negatively affect the Fund's expenses, yield and return potential.

 

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 35.

Risk Lose Money [Text] rr_RiskLoseMoney
Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution
An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading
Fund performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s Investor Class shares have varied over the past ten calendar years. The table below compares the performance of the Investor Class and Institutional Class shares to the performance of the S&P 500® Index, which is a broad based market index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at: www.vlfunds.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns
This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s Investor Class shares have varied over the past ten calendar years. The table below compares the performance of the Investor Class and Institutional Class shares to the performance of the S&P 500® Index, which is a broad based market index.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress
www.vlfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture
The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. 
Bar Chart [Heading] rr_BarChartHeading
Total returns of Investor Class (before taxes) as of 12/31 each year (%)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:        Q3 2010         +12.70
Worst Quarter:     Q4 2008         –27.78 
 
After-tax returns included in the table below are shown for Investor Class shares only and the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns for Institutional Class shares will vary from those of Investor Class shares shown in the table below. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”).
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate
After-tax returns included in the table below are shown for Investor Class shares only and the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”).
Value Line Mid Cap Focused Fund, Inc. | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VLIFX
Management Fees rr_ManagementFeesOverAssets 0.65% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.31% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.21%
Less Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [2]
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.21%
1 year rr_ExpenseExampleYear01 $ 123
3 years rr_ExpenseExampleYear03 384
5 years rr_ExpenseExampleYear05 665
10 years rr_ExpenseExampleYear10 $ 1,466
2007 rr_AnnualReturn2007 19.50%
2008 rr_AnnualReturn2008 (49.28%)
2009 rr_AnnualReturn2009 9.49%
2010 rr_AnnualReturn2010 25.55%
2011 rr_AnnualReturn2011 5.75%
2012 rr_AnnualReturn2012 14.60%
2013 rr_AnnualReturn2013 30.86%
2014 rr_AnnualReturn2014 7.90%
2015 rr_AnnualReturn2015 2.95%
2016 rr_AnnualReturn2016 10.94%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel
Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 12.70%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel
Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (27.78%)
Label rr_AverageAnnualReturnLabel Return before taxes
1 year rr_AverageAnnualReturnYear01 10.94%
5 years rr_AverageAnnualReturnYear05 13.07%
10 years rr_AverageAnnualReturnYear10 5.00%
Value Line Mid Cap Focused Fund, Inc. | Institutional Class  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VLMIX
Management Fees rr_ManagementFeesOverAssets 0.65% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.31% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.96%
Less Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [2]
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.96%
1 year rr_ExpenseExampleYear01 $ 98
3 years rr_ExpenseExampleYear03 306
5 years rr_ExpenseExampleYear05 531
10 years rr_ExpenseExampleYear10 $ 1,178
Value Line Mid Cap Focused Fund, Inc. | Return after taxes on distributions | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return after taxes on distributions
1 year rr_AverageAnnualReturnYear01 10.37%
5 years rr_AverageAnnualReturnYear05 12.93%
10 years rr_AverageAnnualReturnYear10 4.37%
Value Line Mid Cap Focused Fund, Inc. | Return after taxes on distributions and sale of Fund shares | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return after taxes on distributions and sale of Fund shares
1 year rr_AverageAnnualReturnYear01 6.67%
5 years rr_AverageAnnualReturnYear05 10.48%
10 years rr_AverageAnnualReturnYear10 3.75%
Value Line Mid Cap Focused Fund, Inc. | S&P 500 Index  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes
Reflects no deduction for fees, expenses or taxes
Label rr_AverageAnnualReturnLabel S&P® 500 Index (reflects no deduction for fees, expenses or taxes)
1 year rr_AverageAnnualReturnYear01 11.96%
5 years rr_AverageAnnualReturnYear05 14.66%
10 years rr_AverageAnnualReturnYear10 6.95%
[1] The Management Fees and Other Expenses have been restated to reflect current fees and expenses for the Fund following the unbundling of its management fee from amounts payable for administrative services provided by EULAV Asset Management (the "Adviser"). Total Annual Fund Operating Expenses are not affected by such unbundling.
[2] The Adviser and EULAV Securities LLC, the Fund’s principal underwriter (the “Distributor”), have agreed to waive certain class-specific fees and/or pay certain class-specific expenses incurred by the Institutional Class so that the Institutional Class bears its class-specific fees and expenses at the same percentage of its average daily net assets as the Investor Class’s class-specific fees and expenses (excluding 12b-1 fees and any extraordinary expenses incurred in different amounts by the classes) (the “Expense Limitation”). The information regarding the Institutional Class in the table has been restated to reflect the Expense Limitation. The Adviser and the Distributor may subsequently recover from assets attributable to the Institutional Class the reimbursed expenses and/or waived fees (within 3 years after the fiscal year end in which the waiver/reimbursement occurred) to the extent that the Institutional Class’s expense ratio is less than the Expense Limitation or, if lower, the expense limitation in effect when the waiver/reimbursement occurred. The Expense Limitation can be terminated or modified before June 30, 2019 only with the agreement of the Fund’s board.
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