VICTORY CAPITAL MANAGEMENT INC

Victory Capital Management is a private investment manager that can trace its history back to 1894. The company currently is headquartered in Cleveland and has additional locations in Cincinnati, Greenwood Village, Birmingham, Cincinnati, Boston, Denver, Rocky River and New York City. Victory Capital Management acts as an asset management subsidiary under the financial services company KeyCorp. The company employs over 300 employees and provides a variety of services for both institutions and individuals, including equity investments such as deep-value equity, diversified core equity, large cap growth equity, intrinsic value equity, international equities, and hybrid and structured cash strategies. Although Victory Capital Management mainly focuses on individuals as clients, its diverse line of clients also include banking institutions, high net worth individuals, pooled investment vehicles, Taft-Hartley, charities, corporations, pension and profit sharing plans, and state and municipal government organizations. The company operates through nine independent investment firms, each, although acting as subsidiaries, having an independent company culture and investment practices. Victory Capital Management provides its subsidiaries with “robust distribution and operational platform” that allows them to place their operations on. The company focuses on four core principals to run its business: build trust, to make sure commitments are fulfilled and that clients are satisfied; respect autonomy, to allow its investment franchises to make their own decisions and act as independent companies; invest personally, to oversee their clients success through internal investment efforts; and create alignment, to all work towards the goal of making sure their clients achieve success. The company’s investments are diversified, placing assets in global equity, convertible securities, and fixed income markets, also investing in the growth, value, and core stocks of various companies. Victory Capital Management utilizes both top down and bottom up investment approaches with a mix of quantitative and qualitative approaches. Some of its mutual funds include its Fund for Income, Sycamore Established Value Fund, NewBridge Global Equity Fund, and Diversified Stock Fund.