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Investment Approach

The Victory RS Global Fund seeks long-term capital appreciation by investing in companies up and down the market cap spectrum which are anticipated to sustain long term growth. The Fund will normally invest 40% or more of its total assets in securities of non-U.S. companies. Using data-driven discipline in conjunction with a fundamental bottom-up approach, the investment team seeks to capture information inefficiencies in the global equity markets in order to provide a consistent, diversified return stream over market cycles while managing portfolio volatility.

Philosophy & Process

The team looks to exploit global market inefficiencies by combining the best traits of quantitative and fundamental investing. Ideas are generated from companies that it believes possess strong earnings quality, operational efficiency, sound management, favorable growth characteristics, attractive valuations, and favorable market sentiment. The team also applies two layers of robust risk management – at the portfolio and market level - to highlight broad risk exposures, while a strict sell discipline helps ensure prompt response to valuation changes, rank deterioration, and other red flags.

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Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate, so shares, when redeemed, may be worth more or less than their original cost. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than that cited.

Class A performance quoted "with maximum sales load" reflects the current maximum sales charge of 5.75%. The sales load on Class C shares is deferred and will be charged if you redeem shares within one year of purchase. The contingent deferred sales load is 1.00% of the purchase or sale price of the shares, whichever is less. Please read the prospectus carefully for more information on sales charges as they do not apply in all cases and if applied are reduced for larger purchases. Any sales charges are in addition to the Fund's fees and expenses as detailed in the Fund's most current prospectus. The performance quoted at NAV or "without sales load" does not reflect any sales charge. If a sales charge were included, the performance stated above would be lower.

Total return figures reflect an expense limitation in effect during the periods shown; without such limitation, the performance shown would have been lower. Performance results assume the reinvestment of dividends and capital gains.

Class R performance shown is unusually high due to expense reimbursements for the share class. Without taking into consideration the effect of these expense reimbursements, the performance of the Class R shares for the same periods would have been lower.  The lower performance would be similar, exclusive of any class-specific differences in fees and expenses, to the performance of the Fund’s other share classes. Please read the Prospectus for details. 

The Adviser has contractually agreed to waive a portion of its management fee and/or reimburse certain expenses through at least July 31, 2018. The Adviser is permitted to recoup fees waived/expenses reimbursed for up to 3 years after the fiscal year in which the waiver/reimbursement took place, subject to certain limitations. Please read the prospectus for details.

Class R and Y shares of the Fund are only available to investors that meet certain eligibility requirements.

Returns are average annual total returns, except those for periods of less than one year, which are cumulative

The MSCI All Country World Index is a free float adjusted, market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. Index results assume the reinvestment of dividends paid on the stocks constituting the index. You may not invest in the index, and, unlike the Fund, the index does not incur fees and expenses

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. To obtain a copy, visit the prospectus page. Read the prospectus carefully before investing.

All investing involves risk, including potential loss of principal. There is no guarantee that the Fund will achieve its objective. International investing involves special risks, which include changes in currency rates, foreign taxation and differences in auditing standards and securities regulations, political uncertainty and greater volatility. 

The Funds are distributed by Victory Capital Advisers, Inc. ("VCA"), member FINRA and SIPC. Find out more about the background of this firm on FINRA's BrokerCheck.

Victory Capital Management Inc., an affiliate of VCA, is the investment advisor to the Funds and receives a fee from the Funds for its services.

The information on this website is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer. Victory Capital will not accept subscriptions from any investor who is not a U.S. resident and who approaches Victory Capital as a result of having visited this website.  

Not a Deposit / Not FDIC or NCUA Insured / May Lose Value / No Bank or Credit Union Guarantee

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Holdings are subject to change.

Characteristics
Weighted harmonic average is the average market capitalization of all companies in a portfolio with each company weighted according to its percent of the portfolio. Market capitalization is the total dollar value of all outstanding shares computed as number of shares times current market price. Avg Price/Earnings Ratio (Last 12 Months & Next 12 Months) Shows the multiple of earnings at which a stock sells. Determined by dividing current stock price by earnings per share for the relevant 12 month period. Earnings per share for the P/E ratio are determined by dividing earnings for the relevant 12 month period by the number of common shares outstanding. Average Price/Book Ratio: Compares a stock’s market value to the value of total assets less total liabilities (book value). Dividend yield is total cash dividends paid as a percent of market capitalization at the end of the period. The yield for the index is the total of all dividends paid over twelve months divided by the total market capitalization. Return on Equity is net income divided by common equity. A measure of how well a company used reinvested earnings to generate additional earnings. EPS is the portion of a company's profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company's profitability. Long-Term Debt/Capitalization is an indicator of financial leverage. Shows long-term debt as a proportion of the capital available. Determined by dividing long-term debt by the sum of long-term debt, preferred stock and common stockholder's equity. Source: FactSet Research Systems, Inc.

Target metrics reflect our stated goals and are not absolute limits as these are affected by various factors like market fluctuations.
Percentage allocations listed above may not sum to 100% due to rounding methodology. 

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. To obtain a copy, visit the prospectus page. Read the prospectus carefully before investing.

All investing involves risk, including potential loss of principal. There is no guarantee that the Fund will achieve its objective. International investing involves special risks, which include changes in currency rates, foreign taxation and differences in auditing standards and securities regulations, political uncertainty and greater volatility. 

The Funds are distributed by Victory Capital Advisers, Inc. ("VCA"), member FINRA and SIPC. Find out more about the background of this firm on FINRA's BrokerCheck.

Victory Capital Management Inc., an affiliate of VCA, is the investment advisor to the Funds and receives a fee from the Funds for its services.

The information on this website is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer. Victory Capital will not accept subscriptions from any investor who is not a U.S. resident and who approaches Victory Capital as a result of having visited this website. 

U-Wen Kok

U-Wen Kok is Chief Investment Officer of the RS International Developed Markets team and portfolio manager of the Victory RS Global Fund and Victory RS International Fund. RS Investments was acquired by Victory Capital in July 2016 and is a Victory Capital investment franchise.

Ms. Kok began her investment career in 1990 and has served in a variety of portfolio analyst and manager roles. Prior to joining RS Investments in 2013, she was a portfolio manager at RBC Global Asset Management for North American and global equity products.

Ms. Kok holds a B.A. in economics and political science from the University of Toronto. She is a CFA® charterholder.


David Horie

David Horie is an analyst for RS Investments and member of the RS International Developed Markets team. RS Investments was acquired by Victory Capital in July 2016 and is a Victory Capital investment franchise.

Mr. Horie began his finance career in 1992 focusing on fundamental equity and industry research at Wellington Management and management consulting at McKinsey prior to joining RS Investments in 2013.

Mr. Horie holds an M.S. in finance from the University of London and an MBA from the University of California, Los Angeles. He is a CFA® charterholder.

Adam Mezan

Adam Mezan is an analyst for RS Investments and member of the RS International Developed Markets team. RS Investments was acquired by Victory Capital in July 2016 and is a Victory Capital investment franchise.

Prior to joining RS Investments in 2014, Mr. Mezan worked at Nomura Asset Management in London, covering global industrials and the auto industry. Previously, he was with CIBC World Markets, performing fundamental research on North American business/industrial services companies. 

Mr. Mezan holds a B.A. from Duke University and an MBA from the University of Chicago. He is a CFA® charterholder.

Fees & Expenses

Annual fund operating expenses are listed below. Victory Capital is committed to being fully transparent about fees and expenses, enabling investors to make informed decisions.

This calculator is intended to help you assess the impact of the operating expenses of the Class A, C, R, or Y shares of the Fund on the Fund’s potential returns. The calculator allows you to assume that you have made a hypothetical investment of any amount in Class A, C, R, or Y shares of the Fund for a 10-year period, and that your investment earns a 5% return each year. The example assumes that the Fund’s net operating expenses through Year 1 and 2 are the same as those shown in the Annual Fund Operating Expenses table of the Fund’s Prospectus under “Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement” and for all subsequent periods are the same as those shown under “Total Annual Fund Operating Expenses.” The example reflects the impact of sales loads where applicable. Your actual costs may be higher or lower. Based on these assumptions, the calculator shows, for each year and cumulatively for all 10 years, (1) the fees and the costs (the “Expenses”) associated with your investment and (2) the difference (the “Dollar Impact on Return”) between your return if the Fund had not incurred the Expenses and your return after giving effect to the Expenses.


 

Annual Fund Operating Expenses

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Minimum Investment

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Calculate Expenses

Amount Invested($):
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The Adviser has contractually agreed to waive a portion of its management fee and/or reimburse certain expenses through at least July 31, 2018. The Adviser is permitted to recoup fees waived/expenses reimbursed for up to 3 years after the fiscal year in which the waiver/reimbursement took place, subject to certain limitations. Please read the prospectus for details.

Investment Approach

The Victory RS Global Fund seeks long-term capital appreciation by investing in companies up and down the market cap spectrum which are anticipated to sustain long term growth. The Fund will normally invest 40% or more of its total assets in securities of non-U.S. companies. Using data-driven discipline in conjunction with a fundamental bottom-up approach, the investment team seeks to capture information inefficiencies in the global equity markets in order to provide a consistent, diversified return stream over market cycles while managing portfolio volatility.

Philosophy & Process

The team looks to exploit global market inefficiencies by combining the best traits of quantitative and fundamental investing. Ideas are generated from companies that it believes possess strong earnings quality, operational efficiency, sound management, favorable growth characteristics, attractive valuations, and favorable market sentiment. The team also applies two layers of robust risk management – at the portfolio and market level - to highlight broad risk exposures, while a strict sell discipline helps ensure prompt response to valuation changes, rank deterioration, and other red flags.

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. To obtain a copy, visit the prospectus page. Read the prospectus carefully before investing.

All investing involves risk, including potential loss of principal. There is no guarantee that the Fund will achieve its objective. International investing involves special risks, which include changes in currency rates, foreign taxation and differences in auditing standards and securities regulations, political uncertainty and greater volatility. 

The Funds are distributed by Victory Capital Advisers, Inc. ("VCA"), member FINRA and SIPC. Find out more about the background of this firm on FINRA's BrokerCheck.

The information on this website is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer. Victory Capital will not accept subscriptions from any investor who is not a U.S. resident and who approaches Victory Capital as a result of having visited this website.  

Annualized Returns

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Risk Measures

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Calendar Year Returns

(As of {{::asOf | date:"MM/dd/yyyy"}})

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Annual Expenses

(As of 05/01/2017)

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Gross Expense Ratio (%) {{::info.itemData | number}}
Net Expense Ratio (%) {{::info.itemData | number}}

Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate, so shares, when redeemed, may be worth more or less than their original cost. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than that cited.

Class A performance quoted "with maximum sales load" reflects the current maximum sales charge of 5.75%. The sales load on Class C shares is deferred and will be charged if you redeem shares within one year of purchase. The contingent deferred sales load is 1.00% of the purchase or sale price of the shares, whichever is less. Please read the prospectus carefully for more information on sales charges as they do not apply in all cases and if applied are reduced for larger purchases. Any sales charges are in addition to the Fund's fees and expenses as detailed in the Fund's most current prospectus. The performance quoted at NAV or "without sales load" does not reflect any sales charge. If a sales charge were included, the performance stated above would be lower.

Total return figures reflect an expense limitation in effect during the periods shown; without such limitation, the performance shown would have been lower. Performance results assume the reinvestment of dividends and capital gains.

Class R performance shown is unusually high due to expense reimbursements for the share class. Without taking into consideration the effect of these expense reimbursements, the performance of the Class R shares for the same periods would have been lower.  The lower performance would be similar, exclusive of any class-specific differences in fees and expenses, to the performance of the Fund’s other share classes. Please read the Prospectus for details. 

The Adviser has contractually agreed to waive a portion of its management fee and/or reimburse certain expenses through at least July 31, 2018. The Adviser is permitted to recoup fees waived/expenses reimbursed for up to 3 years after the fiscal year in which the waiver/reimbursement took place, subject to certain limitations. Please read the prospectus for details.

Class R and Y shares of the Fund are only available to investors that meet certain eligibility requirements.

Returns are average annual total returns, except those for periods of less than one year, which are cumulative

The MSCI All Country World Index is a free float adjusted, market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. Index results assume the reinvestment of dividends paid on the stocks constituting the index. You may not invest in the index, and, unlike the Fund, the index does not incur fees and expenses

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. To obtain a copy, visit the prospectus page. Read the prospectus carefully before investing.

All investing involves risk, including potential loss of principal. There is no guarantee that the Fund will achieve its objective. International investing involves special risks, which include changes in currency rates, foreign taxation and differences in auditing standards and securities regulations, political uncertainty and greater volatility. 

The Funds are distributed by Victory Capital Advisers, Inc. ("VCA"), member FINRA and SIPC. Find out more about the background of this firm on FINRA's BrokerCheck.

Victory Capital Management Inc., an affiliate of VCA, is the investment advisor to the Funds and receives a fee from the Funds for its services.

The information on this website is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer. Victory Capital will not accept subscriptions from any investor who is not a U.S. resident and who approaches Victory Capital as a result of having visited this website.  

Not a Deposit / Not FDIC or NCUA Insured / May Lose Value / No Bank or Credit Union Guarantee

Characteristics (As of {{::asOf | date:"MM/dd/yyyy"}})

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N/A

Characteristics (As of {{::asOf | date:"MM/dd/yyyy"}})

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Characteristics (As of {{::asOf | date:"MM/dd/yyyy"}})

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Duration Schedule (%) (As of {{::asOf | date:"MM/dd/yyyy"}})

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Quality Structure (%) (As of {{::asOf | date:"MM/dd/yyyy"}})

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GNMA securities are backed by the same full faith and credit guarantee offered by U.S. Treasury securities which is an unconditional commitment to pay interest and principal on debt. This guarantee applies only to the underlying securities in the Fund and not to the Victory Fund for Income.

100.00

Average Life Structure (%) (As of {{::asOf | date:"MM/dd/yyyy"}})

Holdings are subject to change.

Characteristics
Weighted harmonic average is the average market capitalization of all companies in a portfolio with each company weighted according to its percent of the portfolio. Market capitalization is the total dollar value of all outstanding shares computed as number of shares times current market price. Avg Price/Earnings Ratio (Last 12 Months & Next 12 Months) Shows the multiple of earnings at which a stock sells. Determined by dividing current stock price by earnings per share for the relevant 12 month period. Earnings per share for the P/E ratio are determined by dividing earnings for the relevant 12 month period by the number of common shares outstanding. Average Price/Book Ratio: Compares a stock’s market value to the value of total assets less total liabilities (book value). Dividend yield is total cash dividends paid as a percent of market capitalization at the end of the period. The yield for the index is the total of all dividends paid over twelve months divided by the total market capitalization. Return on Equity is net income divided by common equity. A measure of how well a company used reinvested earnings to generate additional earnings. EPS is the portion of a company's profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company's profitability. Long-Term Debt/Capitalization is an indicator of financial leverage. Shows long-term debt as a proportion of the capital available. Determined by dividing long-term debt by the sum of long-term debt, preferred stock and common stockholder's equity. Source: FactSet Research Systems, Inc.

Target metrics reflect our stated goals and are not absolute limits as these are affected by various factors like market fluctuations.
Percentage allocations listed above may not sum to 100% due to rounding methodology. 

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. To obtain a copy, visit the prospectus page. Read the prospectus carefully before investing.

All investing involves risk, including potential loss of principal. There is no guarantee that the Fund will achieve its objective. International investing involves special risks, which include changes in currency rates, foreign taxation and differences in auditing standards and securities regulations, political uncertainty and greater volatility. 

The Funds are distributed by Victory Capital Advisers, Inc. ("VCA"), member FINRA and SIPC. Find out more about the background of this firm on FINRA's BrokerCheck.

Victory Capital Management Inc., an affiliate of VCA, is the investment advisor to the Funds and receives a fee from the Funds for its services.

The information on this website is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer. Victory Capital will not accept subscriptions from any investor who is not a U.S. resident and who approaches Victory Capital as a result of having visited this website. 

David Horie, CFA

Analyst, Developed Markets

David Horie is an analyst for RS Investments and member of the RS International Developed Markets team. RS Investments was acquired by Victory Capital in July 2016 and is a Victory Capital investment franchise.

Mr. Horie began his finance career in 1992 focusing on fundamental equity and industry research at Wellington Management and management consulting at McKinsey prior to joining RS Investments in 2013.

Mr. Horie holds an M.S. in finance from the University of London and an MBA from the University of California, Los Angeles. He is a CFA® charterholder.

Adam Mezan, CFA

Analyst, Developed Markets

Adam Mezan is an analyst for RS Investments and member of the RS International Developed Markets team. RS Investments was acquired by Victory Capital in July 2016 and is a Victory Capital investment franchise.

Prior to joining RS Investments in 2014, Mr. Mezan worked at Nomura Asset Management in London, covering global industrials and the auto industry. Previously, he was with CIBC World Markets, performing fundamental research on North American business/industrial services companies. 

Mr. Mezan holds a B.A. from Duke University and an MBA from the University of Chicago. He is a CFA® charterholder.

Fees & Expenses

Annual Fund Operating Expenses

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Minimum Investment

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Calculate Expenses

Amount Invested($):
Calculate
Please enter a valid numeric value
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