Victory High Income Municipal Bond Fund Class C is a mutual fund focused on providing investors with a high current income that is exempt from federal income taxes. The fund primarily invests in municipal bonds, particularly those near the lower end of investment-grade ratings and may allocate up to 100% of its assets to below investment grade or unrated municipal securities, commonly referred to as "high yield" or "junk" bonds. Its portfolio construction is based on rigorous, bond-by-bond analysis of issuers' creditworthiness and security structures. This approach makes the fund a notable participant in the high-yield municipal bond segment, offering exposure to U.S. infrastructure sectors such as healthcare and education that rely on municipal debt financing. The fund’s role in the market is to cater to individuals or institutions seeking federally tax-exempt income and willing to accept higher credit risk for the potential of above-average yields compared to traditional municipal bond funds. Its strategy is designed to appeal to investors aiming for a combination of income generation and moderate capital appreciation while addressing the unique risk-return profile of lower-rated municipal bonds.
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