Victory Capital Management Launches New Retirement Plan Share Class
CLEVELAND, OH, September 4, 2007 -- Victory Capital Management announced today the launch of a new share class designed to meet the needs of retirement plan sponsors, institutions and high net worth clients for lower expenses and fees. The new I Class shares' expense ratios are approximately 25 basis points lower than Victory Funds A Class shares and have no sales load, shareholder servicing or 12b-1 fees.
The I Class shares are offered to investors who make an initial minimum investment of $2.5 million and investors in selected fee-based programs. In addition, the I Class shares are available for purchase by retirement plans and by certain non-qualified deferred compensation plans with aggregate plan assets greater than $25 million.
"We believe these new lower-priced I Class shares will appeal to institutional investors, especially retirement plans and large organizations," said John Kutz, Managing Director and National Sales Manager - Retirement Consulting of Victory. "Available for several of our most popular Victory Funds, the new share class is designed to meet the needs of investors for lower expenses and competitive performance in registered investment vehicles."
Victory Fund I Class shares are offered on seven equity, hybrid and fixed income funds:
Equity Funds - Ticker
Diversified Stock - VDSIX
Value - VVFIX
Special Value - VSPIX
Small Company Opportunity - VSOIX
Hybrid Funds
Balanced - VBFIX
Investment Grade Convertible - VICIX
Fixed Income Fund
Core Bond - VCBIX
In addition to the I Class shares, Victory offers C, R, and A share classes suitable for a wide range of investable assets for institutional investors, retirement plan sponsors and high net worth clients. Victory also markets an extensive array of collective trust fund vehicles through KeyBank N.A., targeted to large qualified retirement plans.
"With the full lineup of Victory Fund share classes and collective trust fund vehicles, Victory offers a comprehensive set of solutions and choices to our institutional and retirement plan sponsor market," said Kutz. "We have a long-term commitment to serve this important segment with cost-effective investment vehicles that respond to market needs."
About Victory Capital Management
Victory Capital Management Inc. is a registered investment advisor with $64 billion assets under management as of June 30, 2007. The firm is headquartered in Cleveland (127 Public Square, Cleveland OH 44114), and has investment offices in New York (45 Rockefeller Center, New York NY 10111) and Cincinnati. Visit www.VictoryConnect.com for more information.
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