Liquidation: VICTORY PORTFOLIOS

Form Type: 497

Filing Date: 2025-04-11

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325003432

Filing Summary: On April 10, 2025, the Board of Trustees of Victory Variable Insurance Funds approved a Plan of Liquidation for the Victory Sophus Emerging Markets VIP Series, which is anticipated to liquidate on or about June 27, 2025. The Fund will redeem all outstanding shares at their net asset value on the liquidation date. Beginning April 21, 2025, the Fund will be closed to new investors, while existing shareholders can continue to make additional investments until June 20, 2025. To ensure an orderly liquidation, the Fund may deviate from its investment objectives as the liquidation date nears, and it is expected that the portfolio will be converted to cash before the liquidation. Shareholders may receive multiple liquidating distributions, which could have tax implications, thus they are advised to consult tax advisors regarding potential tax liabilities. Additionally, the document stresses the importance of retaining this supplement for future reference.

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Form Type: 497

Filing Date: 2025-04-10

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325003430

Filing Summary: On April 10, 2025, the Board of Trustees of Victory Portfolios approved a Plan of Liquidation for the Victory Sophus Emerging Markets Fund. The Fund is set to liquidate on or about June 27, 2025. On the liquidation date, all outstanding shares will be redeemed at their net asset value. The Fund will close to new investors and shareholder accounts beginning April 21, 2025, but will accept additional investments from existing shareholders until June 20, 2025. To ensure an orderly liquidation, the Fund may deviate from its investment strategies as the liquidation date approaches, and it is expected to shift its portfolio to cash beforehand. Multiple liquidating distributions may be made, with potential tax implications for shareholders. Shareholders are advised to consult their tax advisors regarding the receipt of liquidation proceeds.

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Form Type: 497K

Filing Date: 2025-04-10

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325003427

Filing Summary: On April 10, 2025, the Board of Trustees of Victory Portfolios approved a Plan of Liquidation for the Victory Sophus Emerging Markets Fund. The Fund is expected to liquidate on or about June 27, 2025, redeeming all outstanding shares at their net asset value on the liquidation date. The Fund will close to new investors starting April 21, 2025, while still accepting additional investments from existing shareholders until June 20, 2025. As the liquidation date approaches, the Fund may adjust its investment strategies and is expected to position its portfolio into cash. Shareholders may receive more than one distribution from liquidation proceeds, which could have tax implications. Shareholders are advised to consult their tax advisors regarding any tax liabilities related to these distributions.

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Form Type: 497

Filing Date: 2025-02-28

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325001616

Filing Summary: On February 25, 2025, the Board of Trustees of Victory Portfolios II approved a Plan of Liquidation for several funds including the Victory Special Value Fund, Victory Strategic Allocation Fund, Victory THB US Small Opportunities Fund, and Victory RS Small Cap Equity Fund. It is anticipated that these funds will liquidate on or about April 29, 2025. As part of the liquidation process, each Fund will redeem all outstanding shares at the net asset value on the liquidation date. Beginning March 3, 2025, the Funds will be closed to new investors and shareholder accounts, although they will continue to accept additional investments from existing shareholders until April 23, 2025. This may affect the Funds' investment strategies as they approach the liquidation date, with a transitional positioning into cash expected. Multiple liquidating distributions may occur and could result in tax consequences for shareholders, who are advised to consult tax professionals regarding their individual situations. For further inquiries, shareholders can contact Victory Funds directly.

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Form Type: 497K

Filing Date: 2025-02-28

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325001618

Filing Summary: On February 25, 2025, the Board of Trustees of Victory Portfolios II approved a Plan of Liquidation for the Victory RS Small Cap Equity Fund. The liquidation is anticipated to occur on or about April 29, 2025, at which point the Fund will redeem all outstanding shares at their net asset value. Starting March 3, 2025, the Fund will close to new investors while allowing existing shareholders to continue making additional investments until April 23, 2025. The Fund may deviate from its investment strategies as the liquidation date approaches and is expected to position its portfolio into cash prior to the liquidation. Shareholders may receive more than one liquidating distribution, which could result in taxable events depending on individual circumstances.

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Form Type: 497K

Filing Date: 2025-02-28

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325001619

Filing Summary: On February 25, 2025, the Board of Trustees of Victory Portfolios II approved a Plan of Liquidation for the Victory RS Small Cap Equity Fund. The Fund is expected to liquidate around April 29, 2025, redeeming all outstanding shares at net asset value. Starting March 3, 2025, the Fund will be closed to new investors but will continue accepting investments from existing shareholders until April 23, 2025. As the liquidation approaches, the Fund may alter its investment strategy and is expected to convert its portfolio to cash. Liquidating distributions may be paid in one or more installments, potentially resulting in tax implications for shareholders, who are advised to consult their tax advisors regarding any liability from the liquidation proceeds.

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Form Type: 497K

Filing Date: 2025-02-28

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325001620

Filing Summary: On February 25, 2025, the Board of Trustees of Victory Portfolios II approved a Plan of Liquidation for the Victory THB Small Opportunities Fund. The anticipated liquidation date is April 29, 2025, when all outstanding shares will be redeemed at their net asset value. The Fund will close to new investors on March 3, 2025, while still accepting additional investments from existing shareholders until April 23, 2025. As the liquidation date approaches, the Fund may alter its investment strategy to ensure an orderly liquidation, with a focus on converting the portfolio to cash. Liquidation proceeds distributed to shareholders may have tax implications, and shareholders are advised to consult tax advisors regarding potential liabilities.

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Form Type: 497K

Filing Date: 2025-02-28

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325001621

Filing Summary: On February 25, 2025, the Board of Trustees of Victory Portfolios II approved a Plan of Liquidation for the Victory Special Value Fund. The liquidation is anticipated to occur on or about April 29, 2025, at which point all outstanding shares will be redeemed at their net asset value. Starting on March 3, 2025, the Fund will be closed to new investors, although it will continue to accept additional investments from existing shareholders until April 23, 2025. As the liquidation date nears, the Fund may adjust its investment strategy to increase cash holdings. Shareholders should be aware that the distribution of liquidation proceeds could have tax implications and are advised to consult their tax advisors regarding any potential liabilities.

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Form Type: 497K

Filing Date: 2025-02-28

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325001622

Filing Summary: On February 25, 2025, the Board of Trustees of Victory Portfolios II approved a Plan of Liquidation for the Victory Strategic Allocation Fund, with liquidation anticipated around April 29, 2025. The Fund will redeem all outstanding shares at their net asset value on the liquidation date. It will be closed to new investors starting March 3, 2025, while continuing to accept additional investments from existing shareholders until April 23, 2025. As the liquidation date approaches, the Fund may deviate from its investment objectives to ensure an orderly liquidation, positioning its portfolio into cash. Liquidation proceeds may be distributed in installments, and such distributions could result in tax liabilities for shareholders, who are advised to consult their tax advisors regarding their specific circumstances.

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