Victory RS International Fund - Class Y

The fund's primary objective is to achieve substantial capital appreciation over an extended period. Typically, it allocates a minimum of 80% of its net asset value to common equities and convertible instruments. These investments target companies that are international in nature, specifically those that are either established, domiciled, or principally headquartered outside the United States. Alternatively, companies whose securities are primarily traded on non-U.S. exchanges, or those that conduct a significant portion of their business activities beyond U.S. borders, also qualify. The adviser considers a business to have 'significant' international operations if at least half of its revenue or profits are derived from, or at least half of its sales or assets are located in, areas outside the United States.