Victory Funds
Victory Tax-Exempt Fund
Supplement dated January 23, 2023,
to the Summary Prospectus and Prospectus each dated May 1, 2022
After 30 years in the investment industry, effective June 1, 2023, Regina G. Conklin plans to retire as a portfolio manager with USAA Investments, a Victory Capital Management Inc. Investment Franchise. At that time, Andrew Hattman will be named Head of Municipal Bond Portfolio Management and continue managing the tax-exempt mutual funds along with Lauren Spalten. The following changes will be effective June 1, 2023.
The following disclosure replaces the section titled "Management of the Fund – Investment Adviser" of the Summary Prospectus and Prospectus.
Investment Team |
|
|
|
Title |
Tenure with the Fund |
|
Senior Portfolio Manager, Head of |
|
Andrew Hattman, CFA, CAIA |
Municipal Bond Portfolio Management |
Since 2019 |
Lauren Spalten |
Portfolio Manager |
Since 2021 |
The disclosure referencing Regina G. Conklin under "Portfolio Management" on page 41 of the Prospectus is deleted and the disclosure referencing Andrew Hattman is replaced with the following:
Andrew Hattman, CFA, CAIA, Victory Capital Senior Portfolio Manager and Head of Municipal bond Portfolio Management–USAA Investments, a Victory Capital Investment Franchise, has co-managed the Funds since 2019. Mr. Hattman has 11 years of investment management experience, eight years of which were with AMCO, which was acquired by the Adviser's parent company in 2019. Mr. Hattman holds CFA and CAIA designations.
If you wish to obtain more information, please call the Victory Funds at 800-539-3863.
PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.
Victory Portfolios
Victory High Income Municipal Bond Fund
Supplement dated January 23, 2023,
to the Summary Prospectus and Prospectus each dated May 1, 2022
After 30 years in the investment industry, effective June 1, 2023, Regina G. Conklin plans to retire as a portfolio manager with USAA Investments, a Victory Capital Management Inc. Investment Franchise. At that time, Andrew Hattman will be named Head of Municipal Bond Portfolio Management and continue managing the tax-exempt mutual funds along with Lauren Spalten. The following changes will be effective June 1, 2023.
The following disclosure replaces the section titled "Management of the Fund – Investment Adviser" of the Summary Prospectus and Prospectus.
Investment Team |
|
|
|
Title |
Tenure with the Fund |
|
Senior Portfolio Manager, Head of |
|
Andrew Hattman, CFA, CAIA |
Municipal Bond Portfolio Management |
Since 2019 |
Lauren Spalten |
Portfolio Manager |
Since 2021 |
The disclosure referencing Regina G. Conklin under "Portfolio Management" on page 41 of the Prospectus is deleted and the disclosure referencing Andrew Hattman is replaced with the following:
Andrew Hattman, CFA, CAIA, Victory Capital Senior Portfolio Manager and Head of Municipal bond Portfolio Management–USAA Investments, a Victory Capital Investment Franchise, has co-managed the Funds since 2019. Mr. Hattman has 11 years of investment management experience, eight years of which were with AMCO, which was acquired by the Adviser's parent company in 2019. Mr. Hattman holds CFA and CAIA designations.
If you wish to obtain more information, please call the Victory Funds at 800-539-3863.
PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.
Victory Portfolios
Victory High Income Municipal Bond Fund
Member Class
Supplement dated January 23, 2023,
to the Summary Prospectus and Prospectus each dated May 1, 2022
After 30 years in the investment industry, effective June 1, 2023, Regina G. Conklin plans to retire as a portfolio manager with USAA Investments, a Victory Capital Management Inc. Investment Franchise. At that time, Andrew Hattman will be named Head of Municipal Bond Portfolio Management and continue managing the tax-exempt mutual funds along with Lauren Spalten. The following changes will be effective June 1, 2023.
The following disclosure replaces the section titled "Management of the Fund – Investment Adviser" of the Summary Prospectus and Prospectus.
Investment Team |
|
|
|
Title |
Tenure with the Fund |
|
Senior Portfolio Manager, Head of |
|
Andrew Hattman, CFA, CAIA |
Municipal Bond Portfolio Management |
Since 2019 |
Lauren Spalten |
Portfolio Manager |
Since 2021 |
The disclosure referencing Regina G. Conklin under "Portfolio Management" on pages 27 is deleted and the disclosure referencing Andrew Hattman is replaced with the following:
Andrew Hattman, CFA, CAIA, Victory Capital Senior Portfolio Manager and Head of Municipal bond Portfolio Management–USAA Investments, a Victory Capital Investment Franchise, has co-managed the Funds since 2019. Mr. Hattman has 11 years of investment management experience, eight years of which were with AMCO, which was acquired by the Adviser's parent company in 2019. Mr. Hattman holds CFA and CAIA designations.
If you wish to obtain more information, please call the Victory Funds at 800-539-3863.
PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.
Victory Portfolios
Victory High Income Municipal Bond Fund
Victory Tax Exempt Fund
Supplement dated January 23, 2023,
to the Statement of Additional Information dated May 1, 2022, as Supplemented
After 30 years in the investment industry, effective June 1, 2023, Regina G. Conklin plans to retire as a portfolio manager with USAA Investments, a Victory Capital Management Inc. Investment Franchise.
All references to Regina G. Conklin hereby are removed from the SAI effective June 1, 2023.
If you wish to obtain more information, please call the Victory Funds at 800-539-3863.
PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.