Victory Funds Earns No. 1 Ranking in the Mixed
Asset Category Ranks 2nd in U.S. Equity Category
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”
or the “Company”) today announced that its Victory Funds ranked
second in “Barron’s Best Fund Families” for the one-year period
ended December 31, 2022. Additionally, Victory Funds ranked first
in the Mixed Asset category and second in U.S. Equity category for
the one-year period. The Company’s USAA® Mutual Funds ranked 26th
overall for the one-year period ended December 31, 2022. Its wholly
owned investment adviser, Victory Capital Management Inc., is the
adviser for the Victory Funds, USAA Mutual Funds and VictoryShares
ETFs.
“We are honored to be ranked second in Barron’s Best Fund
Families for our investment results delivered in 2022,” said David
C. Brown, Chairman and Chief Executive Officer of Victory Capital.
“This is a true testament to our investment professionals, who seek
to deliver for our clients and investors each day. Their expertise,
tireless effort and commitment to striving for excellent long-term,
risk-adjusted returns is and will remain our top priority.”
This is the highest ranking Victory Capital has achieved in
Barron’s Best Fund Families, its 4th time to be ranked in the top
10 and its 8th appearance in top 25.
About Victory Capital
Victory Capital is a diversified global asset management firm
with $161.4 billion in assets under management as of January 31,
2023. It was ranked No. 55 on the Fortune 100 Fastest-Growing
Companies list for 2022 and is one of only 24 companies to make the
list for the second consecutive year. The Company operates a
next-generation business model combining boutique investment
qualities with the benefits of a fully integrated, centralized
operating and distribution platform.
Victory Capital provides specialized investment strategies to
institutions, intermediaries, retirement platforms and individual
investors. With 12 autonomous Investment Franchises and a Solutions
Platform, Victory Capital offers a wide array of investment
products, including mutual funds, ETFs, separately managed
accounts, alternative investments, third-party ETF model
strategies, collective investment trusts, private funds, and a 529
Education Savings Plan.
For more information, please visit www.vcm.com or follow us:
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Victory Capital Holdings, Inc.
The Fortune annual list ranks the top performing, publicly
traded companies in revenues, profits and stock returns over the
three-year period ended April 30, 2022.
Past performance is not indicative of future results.
Carefully consider a fund's investment objectives, risks,
charges and expenses before investing. To obtain a prospectus or
summary prospectus containing this and other important information,
visit www.vcm.com/prospectus. Read it carefully
before investing.
Investments involve risk including possible loss of
principal.
Victory Capital means Victory Capital Management Inc., the
investment adviser of the Victory Capital mutual funds, USAA Mutual
Funds and VictoryShares ETFs. Victory Capital mutual funds and USAA
Mutual Funds are distributed by Victory Capital Services, Inc.
(VCS), an affiliate of Victory Capital. VictoryShares ETFs are
distributed by Foreside Fund Services, LLC (Foreside). VCS and
Foreside are members of FINRA. VCS and Victory Capital are not
affiliated with Foreside. USAA is not affiliated with Foreside,
Victory Capital, or VCS. USAA and the USAA logos are registered
trademarks and the USAA Mutual Funds logo is a trademark of United
Services Automobile Association and are being used by Victory
Capital and its affiliates under license.
Barron’s ranked Victory Capital Management Inc. 2nd out of 49
firms for the one-year period ended December 31, 2022, and ranked
26th in the five-year period out of 49 firms, and 27th out of 47
firms for the 10-year period ended December 31, 2022. Barron’s
ranked USAA Investments 26th out of 49 fund families overall for
the one-year period ended December 31, 2022. Victory Capital
Management Inc. ranked 8th overall out of 51 fund families for the
one-year period ended December 31, 2021; 49th out of 53 firms for
the one-year period ended December 31, 2020; 17th out of 55 firms
for the one-year period ended December 31, 2019; 9th out of 57
firms for the one-year period ended December 31, 2018; 10th out of
58 firms for the one-year period ended December 31, 2017; 21st out
of 61 firms for the one-year period ended December 31, 2016; 25th
out of 67 firms for the one-year period ended December 31, 2015;
and 15th out of 65 firms for the one-year period ended December 31,
2014.
How Barron’s Ranks the Fund Families
All mutual and exchange-traded funds are required to report
their returns after fees are deducted—to regulators as well as in
advertising and marketing material—to better reflect what investors
have actually experienced. But our aim is to measure manager skill,
independent of expenses beyond annual management fees. That’s why
we calculate returns before any 12b-1 marketing fees are deducted.
Similarly, fund loads, or sales charges, aren’t included in our
calculation of returns.
Each fund’s performance is measured against all of the other
funds in its Refinitiv Lipper category, with a percentile ranking
of 100 being the highest and one the lowest. This result is then
weighted by asset size, relative to the fund family’s other assets
in its general classification. If a family’s biggest funds do well,
that boosts its overall ranking; poor performance in its biggest
funds hurts a firm’s ranking.
To be included in the ranking, a firm must have at least three
funds in the general equity category, one world equity, one mixed
equity (such as a balanced or target-date fund), two taxable bond
funds, and one national tax-exempt bond fund.
Single-sector and country equity funds are factored into the
rankings as general equity. We exclude all passive index funds,
including pure index, enhanced index, and index-based, but include
actively managed ETFs and so-called smart-beta ETFs, which are
passively managed but created from active strategies.
Finally, the score is multiplied by the weighting of its general
classification, as determined by the entire Lipper universe of
funds. The category weightings for the one-year results in 2022
were general equity, 36.1%; mixed asset, 22%; world equity, 16%;
taxable bond, 21.5%; and tax-exempt bond, 4.5%. (Weightings don’t
always add up to 100% because of rounding.)
The category weightings for the five-year results were general
equity, 36.1%; mixed asset, 22.7%; world equity, 16%; taxable bond,
21%; and tax-exempt bond, 4.3%. For the 10-year list, they were
general equity, 36.6%; mixed asset, 23%; world equity, 15.9%;
taxable bond, 20.1%; and tax-exempt bond, 4.4%.
The scoring: Say a fund in the general U.S. equity category has
$500 million in assets, accounting for half of the firm’s assets in
that category, and its performance lands it in the 75th percentile
for the category. The first calculation would be 75 times 0.5,
which comes to 37.5. That score is then multiplied by 36.1%,
general equity’s overall weighting in Lipper’s universe. So, it
would be 37.5 times 0.361, which equals 13.5. Similar calculations
are done for each fund in our study. Then the numbers are added for
each category and overall. The shop with the highest total score
wins. The same process is repeated to determine the five- and
10-year rankings.
Source: “Barron’s Top Fund Families of 2022”, February 16,
2023.
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Investors: Matthew Dennis, CFA Chief of Staff Director,
Investor Relations 216-898-2412 mdennis@vcm.com
Media: Jessica Davila Director, Global Communications
210-694-9693 jessica_davila@vcm.com
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