Victory Pioneer AMT-Free Municipal Fund Class Y (PBYMX)

Overview

The fund primarily focuses on equity securities, mainly from U.S. issuers, aiming to invest at least 80% of its net assets, including borrowed funds for investment purposes if any, into this category. It looks for opportunities across the spectrum of initial public offerings (IPOs) and holds the flexibility to invest up to 20% of its total assets in international markets, including emerging markets up to a limit of 5% of its total assets. This strategic diversification allows the fund to seek growth through a blend of domestic and international investments, providing a balanced approach to equity investment.

Products and Services

• Equity Securities of U.S. Issuers

This product includes investments primarily in stocks or similar equity instruments of companies based in the United States. Targeting at least 80% of the fund's net assets, it focuses on leveraging the growth potential of the U.S. market.

• Initial Public Offerings (IPOs)

The fund may allocate a portion of its assets to IPOs, seeking to capitalize on the potential early growth phase of these companies. This approach enables the fund to possibly gain from the increased market valuation often associated with new public offerings.

• Securities of Non-U.S. Issuers

Up to 20% of the fund's total assets may be invested in securities from issuers outside the United States, providing exposure to international markets. This includes developed markets as well as up to 5% in emerging markets, offering a broader investment horizon and the opportunity for diversified growth.