Victory RS Small Cap Equity Fund - Class Y 

The Victory RS Small Cap Equity Fund typically commits at least 80% of its portfolio to equity holdings in companies characterized by a smaller market capitalization. Such investments may comprise common shares, preferred shares, or other types of securities that are convertible into common stock. The fund's management identifies a company as small-capitalization if its total market value, at the point of purchase, is less than the larger of these two figures: $3 billion, or 120% of the market capitalization of the biggest company featured in the Russell 2000® Index.