After the sale of their 401(k) record-keeping business in 2002, Victory Capital Management has decided to take another stab at the retirement market with a new institutional share class of their mutual funds.

"We think this is the right time to introduce the new share class with more scrutiny of fees by plan sponsors, "John Kutz, managing director and national sales manager at Victory, told the MFWire.

The I Class shares are offered to investors who make an initial minimum investment of $2.5 million and investors in selected fee-based programs. In addition, the I Class shares are available for purchase by retirement plans and by certain non-qualified deferred compensation plans with aggregate plan assets greater than $25 million.

“Available for several of our most popular Victory Funds, the new share class is designed to meet the needs of investors for lower expenses and competitive performance in registered investment vehicles," Kutz said.  

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