FOR INSTITUTIONAL INVESTOR USE ONLY

This site is for Institutional Investor use only and not for public use or distribution. The information contained on this site is for informational purposes only without regard to the investment objective, financial situation or specific needs of any particular investor. It is not intended for use by institutional investors in a jurisdiction where distribution or purchase is not authorized.

An “Institutional Investor” means any:

  • bank, savings and loan association, insurance company or registered investment company;
  • investment adviser registered either with the SEC under Section 203 of the Investment Advisers Act or with a state securities commission (or any agency or office performing like functions);
  • person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million;
  • governmental entity or subdivision thereof;
  • employee benefit plan, or multiple employee benefit plans offered to employees of the same employer, that meet the requirements of Section 403(b) or Section 457 of the Internal Revenue Code and in the aggregate have at least 100 participants, but does not include any participant of such plans;
  • qualified plan, as defined in Section 3(a)(12)(C) of the Exchange Act, or multiple qualified plans offered to employees of the same employer, that in the aggregate have at least 100 participants, but does not include any participant of such plans;
  • FINRA member or registered person of such a member; or
  • person acting solely on behalf of any such institutional investor.

By accessing this site you confirm that you are an Institutional Investor, you agree not to forward or make the contents of this site available to any person who is not an Institutional Investor, and you agree to be subject to Victory Capital’s user agreement

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User Agreement

Please Read the Following Terms and Conditions Carefully Before Continuing.

The website, www.vcm.com, along with any companion mobile websites and mobile applications, as well as other Victory-branded websites, mobile websites, and apps (the “Site” or “Sites”) is owned and operated by Victory Capital Management Inc. on behalf of itself and its affiliates, including The Victory Funds and the USAA Mutual Funds (collectively, "Victory"). By using the Site, you signify your acceptance of our Terms and Conditions of Use ("Terms") without modification. If you do not agree to these Terms, do not use the Sites. 

Read our social media guidelines and disclosures here

Modification and Monitoring of the Site

Victory reserves the right, at our discretion, to change, modify, add or remove portions of these Terms at any time. We suggest that you check these Terms periodically for changes. Such changes shall be effective immediately upon posting. If you use the Site after we post changes to the Terms, you will be considered to have accepted the changed Terms. Victory reserves the right to monitor any and all use of this Site.

Disclaimers

No information provided on the Site is to be construed to provide tax, legal, financial, investment or other advice. Neither the information, nor any opinion, contained on this Site constitutes a solicitation or offer by Victory or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. If you base a decision on information contained on this website, you will be solely responsible for that decision. You should obtain relevant and specific professional advice before making any investment decision.

ALL INFORMATION AND CONTENT ON THE SITE ARE, SUBJECT TO APPLICABLE STATUTES AND REGULATION, FURNISHED "AS IS" WITHOUT ANY IMPLIED OR EXPRESSED WARRANTY OF ANY KIND, INCLUDING WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY OF INFORMATIONAL CONTENT, AND NON-INFRINGEMENT. Victory does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on the Site and does not warrant that the functions contained in the Site will be uninterrupted or error-free, that defects will be corrected, or that the Site will be free of viruses or other harmful components. Victory expressly disclaims all liability for errors and omissions in the materials on the Site and for the use or interpretation by others of information contained on the Site. In exchange for using the Site, you agree to indemnify and hold Victory, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) arising from your use of the Site, from your violation of these Terms or from any decisions that you make based on such information.

Timeliness of Content

All content on the Site is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.

Prohibited Uses

Except as otherwise stated in these Terms or as expressly authorized by Victory in writing, you may not:

  • Use this Site in any manner that could damage or overburden any Victory server, or any network connected to any Victory server, as all servers have limited capacity and are used by many people;

  • Use this Site in any manner that would interfere with another party’s use of the Site;

  • Include the term “Victory,” “Victory Capital Management,” ”Victory Capital Advisers,” “Victory Portfolios” or any other Victory trademark or executive’s name, or any variation of the foregoing, as a meta-tag, hidden textual element;

  • Use any robot, spider, intelligent agent, other automatic device, or manual process to search, monitor or copy this Site or the reports, data, information, content, software, products services, or other materials on, generated by or obtained from this Site, whether through links or otherwise (collectively, “Materials”), without Victory’s permission, provided that generally available third-party web browsers may be used without such permission; or

  • Use this Site, the Materials or any other indicator in any manner that could create an impression of affiliation, sponsorship or endorsement between any user and/or website and Victory.

Copyrights and Restriction on Use of Material

The content contained on the Sites is owned or licensed by Victory and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. No permission is granted to copy, distribute, modify, post or frame any text, graphics, video, audio, software code, or user interface design or logos.

You may download material displayed on the Sites for your personal use provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of the Site for public or commercial purposes, including all text, images, audio, and video, without Victory’s written permission. Modification or use of the materials for any other purpose violates Victory’s intellectual property rights.

All trademarks, service marks, trade names, and logos displayed on this Site are proprietary to Victory and/or their respective owners. Nothing contained on this Site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this Site without the written permission of Victory or such other third party that may own the trademark displayed on this Site. Your use of the trademarks displayed on this Site, except as provided herein, is strictly prohibited.

The use of the images displayed on this Site by you, or anyone else authorized by you, is prohibited. Any unauthorized use of the images may violate copyright laws, trademark laws, and the laws of privacy and publicity, and communications, as well as other regulations and statutes. If you download any information from this Site, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

Third-Party Content

Victory is in no way responsible for the content of any site owned by a third party that may be linked to the Site via hyperlink, whether such hyperlink is provided by Victory or by a third party. Victory likewise is not responsible for content that appears on the Site that may be provided by a third party or the accuracy of such third-party content.

Links on the site

At times, Victory may supply links on the Site to other websites or services that are not affiliated with Victory. We cannot control these sites and make no representations, warranties, assurances, or endorsements regarding any information or security on those sites. You agree not to hold Victory liable for the content of any such site.

By providing access to other websites, neither Victory nor its affiliates is recommending the purchase or sale of the stock issued by any company, nor is it endorsing services provided by any website’s sponsoring organization.

No judgment or warranty is made with respect to the accuracy, timeliness, or suitability of the content of any site to which Victory may link, including information on the site regarding Victory, and Victory takes no responsibility therefor.

Linking to the site

Individuals may, for personal use, bookmark or point to any page within the Site. Commercial links to this site are not permitted unless you receive permission from Victory. To request permission, please email the reason for your request and contact information to: webinquiry@vcm.com. 

Submissions and Postings

Unless otherwise indicated for a particular service, any communications or material you email, post or otherwise transmit to or through the Site, including data, questions, comments, or suggestions, will be treated as non-confidential and nonproprietary. On occasion, Victory may reproduce, disclose, transmit, publish, broadcast, or post such communications or material. Furthermore, Victory is free to use any ideas, concepts, know-how, or techniques contained in any communication you send to Victory for any purpose whatsoever, including, but not limited to, developing and marketing product using such information.

While Victory takes reasonable steps to ensure the security and integrity of information you submit to us, no security system is perfect, and electronic communications, in particular, are susceptible to interception by third parties. Accordingly, Victory makes no representations, warranties, or assurances that transmissions to and from the Site are secure. Communications to Victory, particularly those containing confidential information, may be sent by mail to: Victory Capital Management Inc., 15935 La Cantera Parkway, San Antonio, TX 78256.

Information for Foreign Investors

The services and products described on the Sites are intended to be made available only to persons in the United States and the information on the Sites is only for such persons. Nothing on the Site will be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Persons outside of the United States may contact us for more information about any product or services that may be available to them. Software from the Site is subject to United States export controls, and may not be downloaded or otherwise exported or reexported outside the United States. By downloading or using the software, you represent and warrant that you are not located in, under the control of, or a national or resident of any country or territory outside of the United States.

Jurisdictional Issues and Applicable Law

Unless otherwise specified, Victory controls and operates the Site from our offices within the State of Texas, United States of America. Victory does not claim that materials on the Site are appropriate or available for use in locations other than the United States. If you choose to access the Site from other locations, you do so on your own initiative, and you are responsible for compliance with any applicable local laws.

Victory will restrict the availability of the Site during the time when you are in the following countries: Cuba, Iran, Liberia, Myanmar/Burma, North Korea, Sudan, and Syria in order to facilitate Victory's compliance with the U.S. laws administered by the Office of Foreign Assets Control.

The laws of the State of Texas govern these Terms, without regard to principles of conflict of laws. Any disputes, controversies, or claims in connection with or arising out of these Terms, shall proceed in a federal or state court located in the State of Texas. Each Party hereby irrevocably submits to the exclusive jurisdiction of such courts.

Limitation of Liability

In no event will Victory or its affiliates be liable, under any circumstances, for any special or consequential damages that may result from the use of, or the inability to use, the materials on this web site, even if Victory or a Victory-authorized representative has been advised of the possibility of such damages.

Neither Victory nor its affiliates are or will be liable for damages or injury, including but not limited to damages or injury caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction or unauthorized access to, alteration of, or use of information, whether resulting, in whole or in part, from breach of contract, tortuous behavior, negligence, or otherwise. If you live in a state that does not allow the limitation or exclusion of liability or incidental or consequential damages, the above limitation or exclusion may not apply to you. In no event shall Victory's total liability to you for damages, losses, and causes of action, whether in contract, tort (including, but not limited to, negligence), or otherwise, exceed the amount paid by you, if any, for accessing the Site.

Termination

Victory may terminate your access to the Site for any reason, without prior notice. Either party may terminate this agreement at any time by destroying all materials obtained from the Sites and all related documentation, copies, and installations, whether or not made under these terms. Victory will terminate this agreement immediately without notice if, in Victory's sole discretion, you fail to comply with any Term of this agreement. Upon termination, you must destroy all materials obtained from the Sites and all copies of those materials, whether or not they were made under these Terms.

Waiver

No waiver by Victory of any right under or term or provision of these Terms will be deemed a waiver of any other right, term, or provision of these Terms at the time of such waiver or a waiver of that or any other right, term, or provision of these Terms at any other time.

Integration and Severability

If any provision of these Terms in deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions. The preceding Terms of use represent the entire agreement between Victory and the user relating to the subject matter herein.