Victory Integrity Discovery Fund (MMEAX)

The fund's strategy involves deploying a substantial portion, specifically a minimum of four-fifths, of its capital into the stock offerings of micro-cap enterprises. These particularly small firms are characterized by market valuations, at the point of acquisition, which fall below that of the most significant company within the lowest three-quarters (as measured by index weight) of the Russell 2000® Index. While the portfolio maintains a predominant focus on U.S. domestic issues, it possesses the flexibility to allocate up to 25% of its holdings to non-U.S. securities, a category that includes various depositary instruments like American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs).