Victory Virginia Bond Fund Class A is an open-end mutual fund that focuses on delivering a high level of current income, primarily exempt from both federal and Virginia state income taxes. The fund principally invests in long-term, investment-grade municipal securities issued by the Commonwealth of Virginia, along with its political subdivisions, authorities, and other associated government entities. This fund is designed for investors seeking both income generation and potential tax advantages, particularly those residing in Virginia. The investment portfolio is constructed using a relative value-driven, bottom-up approach that emphasizes fundamental credit research, targeting a high-quality and diversified allocation across various Virginia municipal issuers. At least 80% of the fund’s net assets are dedicated to tax-exempt securities under normal market conditions. By benchmarking against the Bloomberg Municipal Bond Index, the fund aims to deliver stable, risk-adjusted returns while maintaining a focus on capital preservation and minimal capital gain distributions. The fund pays out its dividends monthly, enhancing its appeal to income-oriented investors with a preference for regular tax-exempt income streams.