MutualFundWire.com: Dhillon Adds to a $1.7B-AUM Victory Suite

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Wednesday, December 18, 2024

Dhillon Adds to a $1.7B-AUM Victory Suite

The folks at a publicly traded, $176.5-billion-AUM (as of October 31), multi-boutique fund firm in Texas are adding a third-fund to a $1.746-billion-AUM, 1.5-year-old suite.

Mannik Dhillon
Victory Capital
President of Investment Franchises and Solutions

Earlier this month, Mannik Dhillon, president of investment franchises and solutions at San Antonio-based Victory Capital Holdings, Inc. [profile], unveiled the launch of the VictoryShares Free Cash Flow Growth ETF (GFLW on the Nasdaq). Victory Capital Management serves as investment advisor, administrator, and fund accountant for the new ETF.

GFLW's inception date was December 3, and it comes with an expense ratio of 39 basis points (which bakes in a 19bps fee waiver promised through October 31, 2026). As of yesterday (December 17, 2024), the new fund had $49.635 million in AUM.

VeffaFi LLC serves as index provider to GFLW, which is designed to track the Victory Free Cash Flow Growth Index. The new, passively managed, large-cap value fund's three-person PM team includes: Lena Dunlap, portfolio manager for VictoryShares and Victory Solutions: Lance Humphrey, senior PM; and Dhillon.

The launch of GFLW comes a year and a half after the Victory team rolled out the first Victory free cash flow ETF, VFLO, and about a year after they launched number two, SFLO. As of yesterday, SFLO had grown to about $166 million in AUM, and VFLO had grown to $1.58 billion.

"Given the favorable response from financial advisors and clients to both VFLO and SFLO, the addition of a free cash flow alternative that sits on the growth side of the style box was a natural evolution of our FCF suite," Dhillon states. "GFLW builds on the innovative methodologies used by VFLO and SFLO and allows investors to capitalize on companies with attractive free cash flow profitability and strong growth prospects in the large-cap growth allocation of their portfolios."

GFLW is a series of Victory Portfolios II. The new ETF's other service providers include: Citi Fund Services Ohio, Inc. as sub-administrator and sub-fund accountant; Citibank, N.A. as custodian, securities lending agent, and transfer agent; Cohen & Company, Ltd. as independent accounting firm; Sidley Austin LLP as counsel; and Victory Capital Services, Inc. as distributor.

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