20230504-2884208

Since 1970, Victory Income Investors has been building a quality reputation as a fixed-income investment manager. We believe a yield-focused portfolio, built bond by bond using fundamental bottom-up analysis, can over time generate attractive total returns relative to peers.
Our rigorous investment process is rooted in a team-oriented approach among our portfolio managers, research analysts and traders. Each group of skilled and experienced professionals offers vital contributions toward our long-term mission: to help provide for our investors’ financial well-being by seeking consistently superior risk-adjusted returns.
IDEA GENERATION: We look for investments where our fundamental understanding of credit risk differs from the market. Our collaborative approach encourages best ideas to bubble up from across the investment team.
CREDIT ANALYSIS: Bottom-up fundamental analysis is matched with top-down oversight and a robust challenge process. We issue independent ratings on each bond holding and continuously monitor credit quality.
SECURITY SELECTION: A bond is selected when the portfolio manager determines it has relative value, based on credit quality, price and structure. When we invest, we do so with conviction, which frequently leads us to look different than the benchmark or peer group.
RISK MANAGEMENT: Risk is broadly diversified and understood at the security level. We seek to make sure our entry point provides enough reward potential to cover risks that may emerge between purchase and maturity.
Co-Chief Investment Officer
John Spear is co-chief investment officer of Victory Income Investors, which was formerly known as USAA Investments, a Victory Capital Investment Franchise, and was acquired by Victory Capital in July 2019. Mr. Spear began his investment career in 1986 and joined the fixed income team at USAA in 1998.
Read Full BioCo-Chief Investment Officer and Head of Fixed Income Portfolio Management
Jim Jackson is co-chief investment officer and senior portfolio manager of Victory Income Investors, which was formerly known as USAA Investments, a Victory Capital Investment Franchise, and was acquired by Victory Capital in July 2019. Prior to joining Victory Capital, Mr. Jackson was a co-manager of the USAA Life Insurance portfolios.
Read Full Bio20230504-2884208