The Value Line Funds of New York is asking shareholders to approve the addition of a rule 12b-1 fee to boost the distribution of 10 of the group's funds.

Value Line is asking shareholders to approve the addition of a 0.25 percent 12b-1 fee for the no-load funds, saying such a plan is necessary to keep the funds competitive in their distribution efforts, according to a preliminary proxy statement the Value Line Aggressive Income Trust filed with the SEC March 16. The new fee will be used to help attract and retain fund shareholders, according to the proxy statement.

Shareholders are scheduled to vote on the proposal June 15.

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