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Victory Munder Mid-Cap Core Growth Fund
  • The Fund seeks to deliver long-term capital appreciation by investing in a diversified portfolio of primarily domestic, medium-sized companies.
  • The Fund focuses on securities that exhibit superior earnings growth, return on invested capital and positive earnings/price momentum, and whose stock trades at reasonable valuations.
  • Intense fundamental, bottom-up stock research is coupled with robust risk controls to pursue positive risk-adjusted performance versus the benchmark over a market cycle.

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Past performance does not guarantee future results. The performance quoted represents past performance and current performance 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.

Returns include reinvestment of dividends and capital gains. Performance for periods greater than one year is annualized.

Class A Shares at load 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 at load for periods less than 1 year reflect the effect of the 1.00% CDSC.

Fee waivers and/or expense reimbursements were in place for some or all periods shown, without which, fund performance would have been lower.

Net expense ratios reflect the contractual waiver and/or reimbursement of management fees through October 31, 2024.

High, double-digit returns are highly unusual and cannot be sustained. Investors should be aware that these returns were primarily achieved during favorable market conditions. 

Calendar year returns are shown at NAV.

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Risk Measures

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Top 10 Holdings

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Holdings are subject to change and should not be considered purchase recommendations.

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Characteristics

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Sector Diversification

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Asset Allocation

Investment Approach 
 
The Victory Munder Mid-Cap Core Growth Fund’s management team seeks to provide long-term capital appreciation in the Fund by investing in a diversified portfolio of medium sized (mid-capitalization) companies. Medium sized means those companies with market capitalizations within the range of companies included in the Russell Midcap® Index or within the range of companies included in the S&P MidCap 400® Index. 
 
Philosophy & Process 
 
The Fund’s investment style focuses on companies that have growth prospects and are reasonably valued. This is known as GARP (Growth at a Reasonable Price). Specifically, the management team looks to invest in companies that have consistent and higher-than-average earnings growth, are financially stable with a below average debt level, have a leadership position in their industry and an effective management team, and whose stock price is attractive relative to the market and the company’s growth rate. 

 
The management team’s process is designed to achieve consistent long-term returns across the full breadth of market conditions and economic cycles. The focus of its investment process is on security selection and risk management. The team believes this is the best way to position the Fund to achieve an optimal balance between potential reward and investment risk over a complete market cycle. 

 

Management Team

Robert Crosby
Robert Crosby

Chief Investment Officer & Senior Portfolio Manager | Mid-Cap Core Growth, Multi-Cap and Diversified Equity Strategies

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Senior Portfolio Manager

Senior Portfolio Manager
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Carefully consider a fund's investment objectives, risks, charges and expenses before investing. This and other information can be found in the fund's prospectus or, if available, the summary prospectus, which may be obtained by visiting the Mutual Fund and ETF prospectus pages at vcm.com. Read the prospectus carefully before investing.

All investing involves risk, including the potential loss of principal.

Other share classes are available. Not all share classes are available to all investors.

Investments in mid-cap companies typically exhibit higher volatility.

International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations.

Investments concentrated in a single country, a small number of countries or a specific region typically exhibit higher volatility.

Investments concentrated in an industry or group of industries may face more risks and exhibit higher volatility than investments that are more broadly diversified over industries or sectors.

Investments in companies in the industrials sector may be adversely affected by changes in supply and demand for products and services, governmental regulation and changes spending policies, world events and economic conditions.

The value of your investment is also subject to geopolitical risks such as wars, terrorism, environmental disasters, and public health crises; the risk of technology malfunctions or disruptions; and the responses to such events by governments and/or individual companies.

The Russell Midcap® Index is a market-capitalization-weighted index that measures the performance of the 800 smallest U.S. stocks in the Russell 1000® Index.

Distributed by Victory Capital Services, Inc., an affiliate of Victory Capital Management Inc., the Fund's investment adviser.

©2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar RatingTM for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed- end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Fund performance used for the rankings reflects certain fee waivers, without which, Morningstar rankings would have been lower and Morningstar ratings may have been lower.

Investors should obtain relevant and specific professional advice before making any investment decision. Your use of this site is subject to the Victory Capital Online Agreement.

Not FDIC Insured • May Lose Value • No Bank Guarantee

20240318-3450040

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©2024 Victory Capital Management Inc.