Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call 1-800-539-FUND or visit www.vcm.com.
Class A Shares MOP performance figures reflect a maximum sales charge of 5.75%.
Class C Shares are not subject to an initial sales charge, but are subject to a deferred sales charge of 1.00% on shares redeemed within the first year. Class C Shares MOP performance for periods less than 1 year reflect the effect of the 1.00% CDSC.
Class Y Shares are not subject to an initial sales charge when purchased, a contingent deferred sales charge or Rule 12b-1 fees.
Class R and Y Shares are available only to select investors as described in the Fund’s prospectus. Please read the Prospectus for information on the eligibility requirements to purchase Class R and Y Shares.
Class R Shares are not subject to an initial sales charge or a contingent deferred sales charge, but have a Rule 12b-1 fee.
The Adviser has contractually agreed to waive a portion of its management fee and/or reimburse certain expenses through at least October 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.
The Adviser has contractually agreed to waive its management fee and/or reimburse expenses so that the total annual operating expenses of Class A, C, R and Y shares of the Fund (excluding Acquired Fund Fees and Expenses and certain items such as interest, taxes and brokerage commissions) do not exceed the 1.83%, 2.58%, 2.08%, and 1.58%, respectively, until at least October 31, 2016. The Adviser is permitted to recoup advisory fees waived and expenses reimbursed for up to three years after the fiscal year in which the waiver or reimbursement took place (including any amounts waived or reimbursed prior to October 31, 2014 by Munder Capital Management, investment adviser to the Fund’s predecessor, Munder Micro-Cap Equity Fund, a series of Munder Series Trust), subject to any operating expense limits in effect at the time of the original waiver or expense reimbursement and at the time of recoupment. This agreement may only be terminated by the Fund’s Board of Trustees.
The Russell Microcap® Value Index measures the performance of
the microcap value segment of the U.S. equity market. It includes Russell Microcap companies that are considered more value oriented relative to the overall market as defined by Russell's
leading style methodology. The Russell Microcap Value Index is constructed to provide a comprehensive and unbiased barometer for the microcap value segment of the market. The Index is
completely reconstituted annually to ensure larger stocks do not distort performance and characteristics of the microcap opportunity set.
Alpha is a risk (beta adjusted) measurement of the difference between a fund’s actual returns and what it might be expected to deliver based on its level of risk. Beta measures a fund’s sensitivity to market movements. Sharpe Ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. R-squared is a statistical measurement that determines the proportion of the return on a specific portfolio of securities, that can be explained by variations in the stock market, as measured by a benchmark index. Standard deviation is a statistical measure of volatility indicating the risk associated with a return series. The information ratio is a measure of the consistency of excess return. Source: Zephyr StyleADVISOR.
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 investment company can be found in the fund's prospectus. To obtain a prospectus, please call 1-800.539.FUND (1.800.539.3863). Please read the prospectus carefully before investing.
Fund policies may be subject to change.
These Funds may not be available for sale in all states. Contact your investment advisor concerning if/how you can purchase these Funds.
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.
- not FDIC insured
- no bank guarantee
- may lose value