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When USAA went back to its core business of serving military personnel and veterans, it sold its fund operations to Victory Capital/VCTR in 2018, & brokerage + wealth management operations to Schwab/SCHW in 2019.
These USAA funds at Victory have been losing AUM. One problem is that former the USAA advisors that are now with Schwab have stopped recommending them, or even pulling their clients' money out. So, after 5 yrs, Victory is rebranding (it is really a boutique of several brands, see link below).
By the way, soon after acquiring USAA funds, Victory Capital moved its HQ from Ohio into San Antonio, TX facility formerly owned by USAA.
This filing affects 45 funds with "USAA" in their names and those will now have "Victory" instead. Other funds with Victory or franchisee names will not be affected. Example, USAA Tax Exempt Long-Term Fund ==> Victory Tax Exempt Long-Term Fund
Comments
When USAA went back to its core business of serving military personnel and veterans, it sold its fund operations to Victory Capital/VCTR in 2018, & brokerage + wealth management operations to Schwab/SCHW in 2019.
These USAA funds at Victory have been losing AUM. One problem is that former the USAA advisors that are now with Schwab have stopped recommending them, or even pulling their clients' money out. So, after 5 yrs, Victory is rebranding (it is really a boutique of several brands, see link below).
By the way, soon after acquiring USAA funds, Victory Capital moved its HQ from Ohio into San Antonio, TX facility formerly owned by USAA.
https://www.vcm.com/
https://investor.vcm.com/products/mutual-funds#
In Ohio, I’m familiar with Sycamore Capital, which has an excellent MCV fund, VETAX.
USAA Tax Exempt Long-Term Fund ==> Victory Tax Exempt Long-Term Fund