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Victory INCORE Investment Quality Bond Fund
  • The Fund primarily invests in investment-grade corporate bonds, U.S. government obligations, and asset-and mortgage-backed securities. As much as 20% of assets can be allocated to high-yield securities.
  • The primary objective of the fund is to invest in bonds that provide a high level of current income, while being mindful of capital preservation.
  • The team applies bond market sector allocation, comprehensive credit analysis, and yield curve positioning to select securities of for the Fund.
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Summary prospectus, prospectus, annual and semi-annual reports, and SAI

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What are risk measures?

Risk Measures

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Top 10 Holdings

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What are characteristics?

Characteristics

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Sector Diversification

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Quality Structure

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Average Life Structure

Investment Approach 

The Investment Quality Bond Fund seeks to maximize total return by focusing on sector allocation, security selection, and yield curve positioning. The fixed income process is team-based and utilizes both quantitative and fundamental disciplines. 

 

Philosophy & Process Highlights 

INCORE Capital’s fixed income investment philosophy is based on the team’s belief that skillful portfolio management can deliver superior total and risk-adjusted returns by taking advantage of bond market inefficiencies in three key ways: 

Sector Allocation: Bond market sectors tend to move in a cyclical fashion relative to the economy and display strong mean-reversion tendencies. These movements can be predictable and are utilized to produce potential alpha. INCORE Capital’s typical sector allocation includes governments, agencies, investment grade and high yield corporate bonds, mortgages, CMBS, asset-backed and municipal securities. 

Security Selection: INCORE believes that independent, comprehensive analysis of issuers, securities, and cash flows leads to superior risk-adjusted returns. The team uses both quantitative and fundamental analysis to find relative value amongst issuers with stable to improving credit fundamentals while avoiding those with deteriorating fundamentals and downward ratings pressure. 

Yield Curve Positioning: Movements in the level of interest rates and the shape of the yield curve are directly linked with economic cycles. INCORE believes movements are predictable and can be exploited to achieve superior risk-adjusted returns. 

Management Team

Edward Goard
Edward Goard

Chief Investment Officer – INCORE Capital Management

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