Victory CA Bond
USCBX
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
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 15935 La Cantera Parkway San Antonio TX United States of America 78256
- IPO Date
- Jul 31, 1989
- CIK
- 0000908695
- Website
- investor.vcm.com
- Similar Companies
- Business
- Victory California Intermediate Term Tax-Exempt Fund (USCBX) is a mutual fund that seeks high current income exempt from federal income tax with a portfolio primarily consisting of investment-grade municipal securities issued by the State of California and its political subdivisions. The fund invests substantially all of its assets in a nondiversified portfolio of California municipal bonds and notes with intermediate-term maturities, including general obligation bonds, revenue bonds backed by essential services such as water, sewer, and transportation; tax increment financing securities; and zero-coupon obligations, while maintaining a dollar-weighted average maturity of three to ten years. It may also allocate up to 20% of assets to U.S. Treasury obligations, money market instruments, and other short-term securities for liquidity and may engage in securities lending to generate additional income. [ from prior search, adapted to context] Operated within the municipal bond segment of the fixed-income asset class, the fund targets tax-sensitive investors such as high-net-worth individuals and institutions seeking California-specific tax exemptions alongside moderate duration risk. Geographically focused on issuers domiciled in California, including cities, counties, school districts, and public authorities, it serves U.S. investors nationwide who benefit from state tax exemptions on in-state holdings. Victory Capital Management, Inc., founded in 2013 and headquartered in San Antonio, Texas, serves as the investment adviser, with subadvisory support from experienced fixed-income teams; the fund traces its roots to the Comstock California Intermediate Term Municipal Fund launched in 1992 before integration into Victory's lineup. In recent developments, the fund maintained stable performance amid 2024-2025 interest rate volatility, with no major portfolio restructurings or name changes reported; it benefited from Victory Capital's broader strategic expansions, including the 2023 acquisition of USAA Asset Management, enhancing scale in tax-exempt strategies, and launched complementary ESG-screened municipal offerings in late 2024 to attract sustainable investors. No significant funding rounds or partnerships specific to USCBX occurred in the last 1-2 years, though Victory Capital announced portfolio manager enhancements in Q3 2025 to optimize yield in a normalizing rate environment. These adjustments underscore ongoing focus on credit quality and tax efficiency without altering core mandates.