Victory INCORE Investment Grade Convertible Fund
SBFCX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Victory Portfolios DE United States of America
- IPO Date
- Apr 14, 1988
- CIK
- 0000802716
- Website
- investor.vcm.com
- Similar Companies
- Business
- Victory INCORE Investment Grade Convertible Fund (SBFCX) is an open-end mutual fund that seeks a high level of current income together with long-term capital appreciation by investing primarily in investment grade securities convertible into common stock and synthetic convertible securities; these derivative positions replicate the characteristics of traditional convertibles through combinations of two or more securities. The fund normally allocates at least 80% of its assets to such investment grade convertibles, which offer a balance of income generation, equity-like upside potential, and downside protection, while permitting up to 20% in below-investment-grade securities if deemed justified by their qualities; it employs bottom-up fundamental analysis across sectors including utilities, real estate, information technology, industrials, and health care. Share classes include Class A (SBFCX, with 2.25% front-end load and 1.20%-1.25% net expense ratio), Class I (VICIX, 0.91% net expense ratio), and Member Class (SBFMX, launched November 2020, 1.10% net expense ratio), with total net assets of approximately $252-316 million as of mid-2023 data. The fund is managed by James Kaesberg, portfolio manager since April 1996, and Mark Vucenovic since March 2014. Launched on April 14, 1988, the fund operates under Victory Capital Management Inc., an independent global asset management firm headquartered in San Antonio, Texas, which was established in 2013 through a management-led buyout from KeyCorp and has since grown via acquisitions including USAA Asset Management in 2019 and WestEnd Advisors in 2023. Domiciled in the United States and available primarily to U.S. investors, the fund targets retail investors, financial advisors, and institutions through platforms with minimum initial investments of $2,500 for Class A ($1,000 for IRAs) and $50 for additional purchases; its portfolio typically holds around 40 positions, with top holdings such as convertible bonds and preferreds from issuers like Pioneer Natural Resources, Southwest Airlines, EQT Corporation, Wells Fargo, Bank of America, Booking Holdings, KKR, Western Digital, Expedia Group, and NiSource. Recent developments at the parent firm Victory Capital include a transformative strategic partnership with Amundi, announced in 2024 and closed in April 2025, enabling global expansion through UCITS fund offerings such as Amundi Funds Global Equity Core, US Equity Large Cap Value, and US Equity Small Cap managed by RS Investments teams; in June 2025, Victory Capital launched three new VictoryShares ETFs focused on asset-based income and international free cash flow strategies. The fund itself maintained its investment approach amid strong convertible issuance in Q3 2025 ($33 billion across 52 issues), with portfolio adjustments including trims in names like American Electric Power, Illumina, and Euronet Worldwide, and swaps in NextEra Energy mandatory convertibles; as of late 2025 estimates, it anticipates distributing capital gains of approximately 1.02% per share.