Victory High Income Municipal Bond A NMFQS:RSHMX

The fund invests primarily in municipal obligations, the interest on which is, in the opinion of the issuer's bond counsel, exempt from federal individual income tax (but not necessarily the federal alternative minimum tax (the "AMT")). Under normal circumstances at least 80% of the value of the fund's assets will be invested in tax-exempt municipal obligations (which may include obligations that pay interest subject to the AMT).