Small Company Opportunity Fund |
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Fund Facts (as of 09/02/2010)
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Share
Class |
Inception
Date |
Ticker
Symbol |
Cusip
Number |
NAV Price |
Daily NAV
Change |
NAV as Of |
A Shares:
|
03/26/1999
|
SSGSX
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926464835
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25.00
|
0.22
|
09/02/2010
|
I Shares:
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08/31/2007
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VSOIX
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92646A815
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25.08
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0.22
|
09/02/2010
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R Shares:
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08/16/1983
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GOGFX
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926464389
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24.23
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0.21
|
09/02/2010
|
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Investment Objective / Strategy
The Fund seeks to provide capital appreciation by investing
primarily in a diversified portfolio of common stocks of
smaller companies. The Fund will invest primarily in
companies with above average sustainable earnings growth
prospects trading at attractive share valuations.
Investor Profile
Investors looking for long-term growth and capital
appreciation by investing in a professionally managed
portfolio of equity securities.
Investment Considerations
Small capitalization funds typically carry additional risk, since smaller companies generally have higher risk of failure. Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.
Fund Managers
Gary H. Miller, Gregory
Conners, and Jeff Graff are
the co-portfolio managers of the
Small Company Opportunity
Fund.
Mr. Miller has been co-portfolio
manager of the Funds
since 1998. He is a Portfolio
Manager and Managing
Director of Victory Capital
Management Inc. ("the
Adviser") and has been associated with the Adviser or
an affiliate since 1987.
Mr. Conners has been associate
portfolio manager or co-portfolio
manager of the Funds
since March 1, 2002. He is a
Portfolio Manager and Director
of Victory Capital Management
Inc. and has been associated
with the Adviser or an affiliate
since March 1999.
Mr. Graff has
been co-portfolio manager of
the Funds since March 2007. He
is a portfolio manager and
Managing Director of the
Adviser and has been associated
with the Adviser or an affiliate
since 2001.
Fund Manager Comments
The Victory Small Company Opportunity Fund focuses on companies with market capitalizations between $100 million and $2 billion that we believe offer above-average total return potential with limited risk. Limiting risk is core to our philosophy and is an essential aspect in capital preservation, which we view as
equally important as capital growth.
In making investment decisions, the Fund uses a bottom-up investment process to construct a portfolio of stocks of smaller companies that the team believes to possess the following fundamental attributes: 1) Attractive Valuation - Focus on companies that the team believes are undervalued relative to the long-term earnings potential of the business. Conservative metrics are considered in assessing the
risk/reward of individual stocks in order to maintain a desirable margin-of-safety, 2) Financial Strength - Preference for companies that are conservatively capitalized
with reasonable levels of debt. Additionally, the team favors businesses that generate positive cash flow and have demonstrated a record of creating value
through their deployment of cash and prudent use of the balance sheet, and 3) Improving Outlook - The team favors companies that are believed to offer the prospects of improving fundamentals within a reasonable time frame. Such an
improvement can be driven by a change in sentiment, cyclical improvement for an industry or company-specific catalyst.
The Fund's investment process leads us to buy undervalued businesses that possess strong or improving balance sheets with disciplined management teams that pursue steady growth through self-funding cash flows and choose to return excess
capital to shareholders.
Fund policies may be subject to change.
Daily Prices - all Victory funds
Performance - all Victory funds
Class I Shares are not subject to an initial sales charge when purchased, a contingent deferred sales charge or Rule 12b-1 fees.
Class A Shares MOP performance figures reflect a maximum sales charge of 5.75%.
Class R Shares are not subject to an initial sales charge or a contingent deferred sales charge, but have a Rule 12b-1 fee.
Class I and R 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 and R Shares. Total returns are historical and include the change in share price and reinvestment of dividends and capital gains distributions, if any.
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