Liquidation: VICTORY VARIABLE INSURANCE FUNDS

Form Type: 497K

Filing Date: 2025-04-30

Corporate Action: Liquidation

Type: Update

Accession Number: 000168386325004402

Filing Summary: Victory Variable Insurance Funds has filed a 497K summary prospectus for its Victory Sophus Emerging Markets VIP Series, announcing that the fund is closed to new investors and will be liquidated under a Plan of Liquidation on or about June 27, 2025. The summary includes investment objectives, fee structures, management information, fund performance, and risk factors. The Adviser will ensure that total annual operating expenses do not exceed 1.35% through at least April 30, 2026. The portfolio turnover rate was noted at 83%, with expectations that it may exceed 100% due to the active management style. Additionally, the fund is only available through insurance company separate accounts providing variable annuity and life insurance products, leading to distinct fee considerations for investors.

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Form Type: 497K

Filing Date: 2025-04-11

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325003431

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. The liquidation is expected to occur on or about June 27, 2025, at which point all outstanding shares will be redeemed at their net asset value. The Fund will close to new investors starting April 21, 2025, while continuing to accept additional investments from existing shareholders until June 20, 2025. As the liquidation date approaches, the Fund may deviate from its investment objectives and strategies, transitioning its portfolio to cash. Shareholders may receive more than one installment of liquidating distributions, which may have tax implications, and are advised to consult their tax advisors.

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Form Type: 497

Filing Date: 2025-04-10

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325003428

Filing Summary: On April 10, 2025, the Board of Trustees of Victory Variable Insurance Funds approved a Plan of Liquidation for the Victory Strategic Allocation Fund. The liquidation is anticipated to occur on or about June 27, 2025, at which time all outstanding shares will be redeemed at their net asset value. The Fund will close to new investors and shareholder accounts on April 21, 2025, but will continue to accept additional investments from existing shareholders until June 20, 2025. To facilitate an orderly liquidation, the Fund may adjust its investment strategies as the liquidation date approaches, potentially positioning its portfolio into cash. The Fund may provide multiple liquidating distributions, which may generate taxable events for shareholders. Shareholders are advised to consult their tax advisors regarding any possible tax liabilities.

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Form Type: 497K

Filing Date: 2025-04-10

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325003429

Filing Summary: On April 10, 2025, the Board of Trustees of Victory Variable Insurance Funds approved a Plan of Liquidation for the Victory Strategic Allocation Fund, which is expected to liquidate on or about June 27, 2025. The Fund will redeem all outstanding shares at net asset value on the liquidation date. Starting April 21, 2025, the Fund will be closed to new investors while continuing to accept investments from existing shareholders until June 20, 2025. As the liquidation date approaches, the Fund may adjust its investment strategies and is likely to position its portfolio into cash. Liquidation may result in more than one distribution of proceeds, which could have tax implications for shareholders, who are advised to consult their tax advisors.

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