Victory Market Neutral Income Fund - Class A
CBHAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 4900 Tiedeman Road, 4th Floor Brooklyn OH United States of America 44144
- IPO Date
- Nov 19, 2012
- CIK
- 0001547580
- Website
- investor.vcm.com
- Similar Companies
- Business
- Victory Market Neutral Income Fund - Class A (CBHAX) is an open-end mutual fund that seeks high current income through a proprietary market neutral investment strategy, aiming for low correlation to foreign and domestic equity and bond markets. The fund invests primarily in long positions in global high-dividend-paying equity securities of any market capitalization, including dividend-producing stocks across sectors such as financial services, utilities, energy, consumer defensive, and consumer cyclical; it offsets equity market risk by shorting highly correlated equity index futures contracts like S&P 500 E-Mini, Nasdaq 100 E-Mini, Russell 2000 Index, Mini MSCI Emerging Markets, and Mini MSCI EAFE futures; and it employs a futures overlay strategy with additional long and short equity index futures positions to mitigate residual basis risk, while holding significant cash allocations. Share classes include Class A (CBHAX, net expense ratio 0.75%-0.76%), Class C (CBHCX, 1.50%), Class I (CBHIX, 0.40%-0.41%), and Member Class (CBHMX, 0.55%-0.56%), with a front-end load of up to 5.75% on Class A shares; the fund targets institutional and retail investors seeking alternative income with bond-like risk profiles, distributing monthly dividends. The fund operates within the Equity Market Neutral category, with geographic exposure spanning the United States (net -2.07%), international developed markets, and emerging markets (net exposure approximately 5.42% as of late 2024), including long equity positions in regions like Eurozone, Emerging Asia, Developed Asia, and Latin America. Victory Portfolios II, the series trust domiciled in Delaware with fiscal year-end June 30, serves as the registrant, advised by Victory Capital Management Inc. (Victory Capital), which is based at 4900 Tiedeman Road, 4th Floor, Brooklyn, Ohio 44144. Inception date for all classes is November 19, 2012; as of mid-2025, total net assets exceed $2.6 billion across classes, with Class A share class size around $39.84 million. Portfolio managers include Mannik Dhillon, CFA, CAIA (since May 2018), Lance Humphrey, CFA (since October 2022), Scott Kefer, CFA (since October 2022), and Lela Dunlap (since November 2024). Recent changes encompass manager additions in 2022 and 2024 to bolster the team; portfolio adjustments reflected in Q2 2025 13F filings showing new positions in JBS N.V. Depositary Receipt, Canadian Tire Corporation, Tele2 AB, Mizrahi Tefahot Bank Ltd., and Permian Resources Corporation, alongside top increases in holdings like HKT Trust and Intesa Sanpaolo; and Victory Capital's 2024-2025 acquisition of Amundi US, establishing a strategic partnership for global distribution of U.S. products in Europe and Asia, enhancing the fund's international reach without organic expansion costs. The strategy has evolved through prior name changes, including from Compass EMP Market Neutral Income Fund post-2015 Victory Capital acquisition of Compass EMP, to its current branding in 2018. As of Q3 2024, the fund maintained a 30-day SEC subsidized yield of 3.71% for Class I shares, with low volatility (5-year standard deviation 3.97%).