Victory Global Fund
Class I Shares VPGYX
Class A Shares VPGEX
Class C Shares VPGCX
As of March 31, 2011
Investors looking for long term-growth of capital by investing in a
professionally managed portfolio of equity securities. The Fund may Value Blend Growth
be appropriate for investors who are comfortable with assuming the Large
Median Market Cap
added risks associated with stocks that do not pay out significant Fund Information
portions of their earnings as dividends. It also may be appropriate
Class I Symbol VPGYX
for investors who are comfortable with assuming the added risks Medium
associated with investments in foreign countries and investments CUSIP 92646A674
denominated in foreign currencies. Small Inception 03/18/10
Objectives/Strategies Net Assets $2,039,381
The Fund seeks to provide long-term growth and capital appreciation by investing primarily in NAV Share Price $11.77
U.S. and foreign equity securities of companies of any size, located in any country, including
countries with developing or emerging markets. The Fund may invest in any type or class of Class A Symbol VPGEX
securities of companies of any size and from any country.
Total Return for the Periods Ending 03/31/11 Inception 03/18/10
TOTAL RETURN (%) ANNUALIZED RETURN (%) Net Assets $2,013,818
Since NAV Share Price $11.76
Quarter YTD 1-Year 3-Year 5-Year 10-Year Inception^
Class I 4.07 4.07 18.94 N/A N/A N/A 19.55 Class C Symbol VPGCX
Class A NAV† 3.98 3.98 18.63 N/A N/A N/A 19.25
MOP†† -2.00 -2.00 11.78 N/A N/A N/A 12.64 Net Assets $1,988,757
Class C NAV† 3.72 3.72 17.63 N/A N/A N/A 18.28 NAV Share Price $11.72
MOP†† 2.72 2.72 16.63 N/A N/A N/A 18.28
Wtd Avg Mkt Cap (billion) $46.4
Benchmark MSCI World (Net)1
Number of Holdings 128
4.80 4.80 13.45 -0.25 2.08 4.21
†Net Asset Value ††Maximum Offering Price. Class I Class A Class C
Minimum Initial Investment $2500*
Inception Date^ 03/18/10 03/18/10 03/18/10 Minimum Subsequent Investments $250
Expense Ratio - Gross c5.11% c5.82% c6.57% IRA Minimum $1,000
Expense Ratio - Net 1.16% 1.41% 2.16%
Past performance does not guarantee future results. The performance data quoted represents
past performance and current returns may be lower or higher. The investment return and principal *The minimum Initial Investment for I Shares is $2,500,000.
value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than or if in the opinion of Victory Capital Advisers, Inc., there is
the original cost. To obtain performance information current to the most recent month end, please adequate intent of the investor and availability of assets to
call 1-800-539-FUND or visit www.VictoryConnect.com. reach a future level of investment of $2,500,000.
Total return is all cash flow from interest and dividends plus compounding of reinvestment plus
any gains or minus any losses. Annualized return or average annual return describes the return
gained, on average, each year of a multi-year period rather than a cumulative return.
• Class I Shares are not subject to an initial sales charge when purchased, a contingent deferred sales charge or Rule 12b-1 fees. Class I Shares are
available to investors in selected fee-based programs.
• Class A Shares MOP performance figures 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 Shares MOP performance for periods less than 1 year reflect the effect of the 1.00% CDSC.
• The International Fund imposes a redemption fee of 2.00% of the total redemption amount (calculated at net asset value, without regard to the effect
of any contingent deferred sales charge; any contingent deferred sales charge is also assessed on the total redemption amount without regard to the
assessment of the 2.00% redemption fee) on all Fund shares redeemed or exchanged within 30 days of buying them (either by purchase or exchange).
Class I Shares are available only to select investors as described in the Fund’s prospectus. Please read the Prospectus for information on the eligibility requirements
to purchase Class I Shares. Total returns are historical and include the change in share price and reinvestment of dividends and capital gains distributions, if any.
Investment Considerations: Equity securities are more volatile and carry more risk than other forms of investments including investments in high-grade
fixed income securities. Small capitalization stocks carry additional risks and expose the investor to greater volatility, since smaller companies generally
have a higher risk of failure. In addition, the securities of foreign companies acquired by the Fund tend to experience more volatility than their domestic
counterparts in part because of higher political and economic risks, lack of reliable information, fluctuations in currency exchange rates and the risks
that a foreign government may take over assets, restrict the ability to exchange currency or restrict the delivery of securities. These risks are magnified
in emerging markets. Derivative instruments, including futures and options contracts used for asset substitution, do not perfectly replicate direct
investment in the security. The net asset value per share of this Fund will fluctuate as the value of securities in the portfolio changes.
cThe Adviser has contractually agreed to waive its management fee and/or reimburse expenses so that the total annual operating expenses (excluding
Acquired Fund Fees and Expenses, and certain other items) of Class A, Class C and Class I shares do not exceed 1.40%, 2.15% and 1.15%, respectively,
until at least February 28, 2020.
Not FDIC Insured ● No Bank Guarantee ● May Lose Value
Victory Global Fund
Class I Shares VPGYX
Class A Shares VPGEX
As of March 31, 2011 Class C Shares VPGCX
Matthias Knerr, CFA Jeffrey Saeger, CFA Additional Information
CIO - Large Cap International Portfolio Manager
and Global Equities Director Sector Diversification2 %
Lead Portfolio Manager
Consumer Discretionary 13.6
Senior Managing Director
Consumer Staples 8.2
Top Ten Holdings2 Country %
Novo Nordisk A/S Denmark 2.0
Chevron Corp. United States 1.8
Health Care 8.8
Dollar Tree Inc. United States 1.7
BP PLC United Kingdom 1.6
Information Technology 14.1
Herbalife Ltd. United States 1.6
Apache Corp. United States 1.5
Telecommunication Services 3.2
Philip Morris International Inc. United States 1.4
InterDigital Inc. United States 1.3
CNOOC Ltd. China 1.3
Yum! Brands Inc. United States 1.3 Regional Weightings2 %
Contact Asia/Pacific Ex Japan 10.0
For additional information regarding the Victory Funds, please ask your Financial Advisor or Continental Europe/Africa/Mideast 21.0
The Adviser United Kingdom 9.8
The Funds are distributed by Victory Capital Advisers, Inc. (“VCA”), member FINRA and
SIPC. VCA is a wholly owned subsidiary of KeyCorp. Victory Capital Management Inc., an Cash 0.3
affiliate of VCA, is the investment advisor to the Funds and receives a fee from the Funds
for its services. Fund Composition2 %
Common Stock 99.7
Other Victory Funds Other 0.3
The Victory Funds offer equity, hybrid, taxable fixed income, tax-exempt fixed income, and
money market funds for the retail and institutional markets.
1Morgan Stanley World Index: An unmanaged, free float-adjusted market capitalization
weighted index that is designed to measure the equity market performance of developed
markets. This index does not include the effect of sales charges and is not representative of
the Fund and cannot be invested in directly. With Net Dividends - This series approximates
the minimum possible dividend reinvestment. The dividend is reinvested after deduction of
withholding tax, applying the rate to non-resident individuals who do not benefit from double
taxation treaties. This Index does not include the effect of expenses, is not representative of
any specific fund or product and cannot be invested in directly.
2The top ten holdings, sector diversification, regional weightings and fund composition are
presented to illustrate examples of the Fund’s investments and may not be representative
of the Fund’s current or future investments. Fund holdings may change at any time.**
**All risk factor and portfolio information as of: March 31, 2011
Shares of the Fund may be subject to sales charges and
other fees. An investor should consider the Fund’s investment
objectives, risks and charges and expenses carefully before
investing or sending money. This and other important
information about the investment company can be found in
the Fund’s prospectus. To obtain a prospectus, please call
1-800-539-FUND or visit www.VictoryConnect.com. Please
read the prospectus carefully before investing.