Victory RS Small Cap Growth Fund - Class Y

This fund primarily dedicates at least 80% of its total assets to enterprises classified as small-capitalization. The investment advisor currently defines a small-cap company by its market value at the time of acquisition, considering it such if its capitalization is either below $3 billion or up to 120% of the largest company within the Russell 2000® Index, whichever criterion yields the higher threshold. While the portfolio generally concentrates its investments in the equity securities of U.S. businesses, it retains the flexibility to commit any portion of its holdings to international stocks, including various depositary receipts like ADRs and GDRs.