Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”
or the “Company”) today announced plans to expand its Direct
Investor Business in the early part of the second quarter of 2023
to include brokerage capabilities.
“We have a very loyal direct investor base with a long average
tenure investing in our products,” said David Brown, Chairman and
Chief Executive Officer of Victory Capital. “We’re expanding our
capabilities to offer our investors more choice and
flexibility.”
“In the future, investors will be able to leverage our open
architecture brokerage option to invest in mutual funds and ETFs
from Victory Capital along with individual stocks and third-party
mutual funds and ETFs,” Mr. Brown added. “We also plan to introduce
a digital investing platform, which will give investors the option
to build model portfolios that we create and manage for them based
on their individual goals. Of course, individuals can also continue
to invest directly in the Victory Funds and our 529 education
savings plan.”
Concurrent with the launch of its brokerage arm, Victory Capital
intends to introduce new branding for the Direct Investor Business
as a whole that highlights the expanded capabilities and inspires
investors to get started on their journey to financial
wellness.
As part of the broader rebranding strategy, the USAA® Mutual
Funds Trust will be renamed “Victory Portfolios III,” and the funds
in the Trust will be rebranded as “Victory Funds.” There will be no
changes to the funds’ investment objectives, the investment teams
that manage the funds or their respective investment processes as a
result of the change in the product branding strategy, and there is
no action required on the part of current investors.
Finally, Victory Capital’s USAA Investments Franchise, which
manages the USAA-branded fixed income funds, will be renamed
“Victory Income Investors.” The new Franchise name will become
effective concurrent with the renaming of the funds that they
manage. There will be no changes to the team or its investment
process.
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 vcm.com or follow us: Twitter
and LinkedIn
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements may include, without limitation, any
statements preceded by, followed by or including words such as
“target,” “believe,” “expect,” “aim,” “intend,” “may,”
“anticipate,” “assume,” “budget,” “continue,” “estimate,” “future,”
“objective,” “outlook,” “plan,” “potential,” “predict,” “project,”
“will,” “can have,” “likely,” “should,” “would,” “could” and other
words and terms of similar meaning or the negative thereof. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond Victory Capital’s
control such as the conflict in Ukraine and the COVID-19 pandemic
and its effect on our business, operations and financial results
going forward, as discussed in Victory Capital’s filings with the
SEC, that could cause Victory Capital’s actual results, performance
or achievements to be materially different from the expected
results, performance or achievements expressed or implied by such
forward-looking statements.
Victory Capital means Victory Capital Management Inc., the
investment adviser of the Victory Capital mutual funds and USAA
Mutual Funds. Victory Capital mutual funds and USAA Mutual Funds
are distributed by Victory Capital Services, Inc. (VCS), member
FINRA, an affiliate of Victory Capital. Victory Capital and its
affiliates are not affiliated with United Services Automobile
Association or its affiliates. USAA and the USAA logos are
registered trademarks and the USAA Mutual Funds and USAA
Investments logos are trademarks of United Services Automobile
Association and are being used by Victory Capital and its
affiliates under license.
© 2022 Fortune Media IP Limited All rights reserved. Fortune is
a registered trademark of Fortune Media IP Limited and is used
under license. Fortune and Fortune Media IP Limited are not
affiliated with, and do not endorse products or services of,
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230223005395/en/
Investors: Matthew Dennis, CFA Chief of Staff Director,
Investor Relations 216-898-2412 mdennis@vcm.com Media:
Jessica Davila Director of Global Communications 210-694-9693
Jessica_davila@vcm.com
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