497 1 f42266d1.htm PM SUPPLEMENTS PM supplements
June 9, 2025
Victory Pioneer Core Equity Fund
Supplement to the Summary Prospectus and Prospectus
each dated March 31, 2025,
as in effect and as may be amended from time to time
Fund Summary
The following replaces the corresponding information under the heading “Management of the Fund - Portfolio Management” in the section entitled “Fund Summary”: 
 
Title 
Tenure with the Fund and Predecessor Fund 
Craig Sterling
Managing Director, Director of Core Equity and Head
of Equity Research, US
Since 2015
John Arege
Managing Director and Director of Large Cap Value,
US
Since May 2025
Sammi Truong
Vice President
Since May 2025
Organization and Management of the Fund
The following replaces the information under the heading “Portfolio Management” in the section entitled “Organization and Management of the Fund”:
Day-to-day management of the Fund’s portfolio is the responsibility of Craig Sterling, John Arege and Sammi Truong. The portfolio managers draw upon the research and investment management expertise of the firm’s global research teams at Pioneer Investments, which provide fundamental and quantitative research for the Victory Pioneer Funds.
Craig Sterling, Managing Director, Director of Core Equity and Head of Equity Research, US of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund and predecessor fund since 2015. Prior to joining Amundi US in 2015, he was Managing Director and Global Head of Equity Research at EVA Dimensions LLC in New York, an independent equity research firm. Prior to 2011, he served as a Director in the HOLT Group at Credit Suisse.
John Arege, Managing Director and Director of Large Cap Value, US of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund since May 2025. Prior to joining Amundi US in 2022, he was a Portfolio Manager of Core and Value Equities at Genter Capital Management from 2020 to 2022. Prior to Genter Capital Management, he worked for 12 years at Goldman Sachs Asset Management as Managing Director, Co-Head of Value and Core Equities and Portfolio Manager.
Sammi Truong, Vice President of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund since May 2025. She joined Amundi US in 2001 and has been an investment professional since 2001.
34208-00-0625

June 9, 2025
Victory Pioneer Disciplined Growth Fund
Supplement to the Summary Prospectus and Prospectus
each dated March 31, 2025,
as in effect and as may be amended from time to time
Fund Summary
The following replaces the corresponding information under the heading “Management of the Fund - Portfolio Management” in the section entitled “Fund Summary”: 
 
Title 
Tenure with the Fund and Predecessor Fund 
Craig Sterling
Managing Director, Director of Core Equity and Head
of Equity Research, US
Since 2015
Matthew Gormley
Portfolio Manager
Since May 2025
Organization and Management of the Fund
The following replaces the information under the heading “Portfolio Management” in the section entitled “Organization and Management of the Fund”:
Day-to-day management of the Fund’s portfolio is the responsibility of Craig Sterling and Matthew Gormley. The portfolio managers draw upon the research and investment management expertise of the firm’s global research teams at Pioneer Investments, which provide fundamental and quantitative research for the Victory Pioneer Funds.
Craig Sterling, Managing Director, Director of Core Equity and Head of Equity Research, US of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund and predecessor fund since 2015. Prior to joining Amundi US in 2015, he was Managing Director and Global Head of Equity Research at EVA Dimensions LLC in New York, an independent equity research firm. Prior to 2011, he served as a Director in the HOLT Group at Credit Suisse.
Matthew Gormley, Portfolio Manager of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund since May 2025. He joined Amundi US in 2011 within the risk and performance departments and joined the portfolio management team as an investment associate in 2017.
34209-00-0625

June 9, 2025
Victory Pioneer Disciplined Value Fund
Supplement to the Summary Prospectus and Prospectus
each dated March 31, 2025,
as in effect and as may be amended from time to time
Fund Summary
The following replaces the corresponding information under the heading “Management of the Fund - Portfolio Management” in the section entitled “Fund Summary”: 
 
Title 
Tenure with the Fund and Predecessor Fund 
Craig Sterling
Managing Director, Director of Core Equity and Head
of Equity Research, US
Since 2015
John Arege
Managing Director and Director of Large Cap Value,
US
Since May 2025
Sammi Truong
Vice President
Since May 2025
Organization and Management of the Fund
The following replaces the information under the heading “Portfolio Management” in the section entitled “Organization and Management of the Fund”:
Day-to-day management of the Fund’s portfolio is the responsibility of Craig Sterling, John Arege and Sammi Truong. The portfolio managers draw upon the research and investment management expertise of the firm’s global research teams at Pioneer Investments, which provide fundamental and quantitative research for the Victory Pioneer Funds.
Craig Sterling, Managing Director, Director of Core Equity and Head of Equity Research, US of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund and predecessor fund since 2015. Prior to joining Amundi US in 2015, he was Managing Director and Global Head of Equity Research at EVA Dimensions LLC in New York, an independent equity research firm. Prior to 2011, he served as a Director in the HOLT Group at Credit Suisse.
John Arege, Managing Director and Director of Large Cap Value, US of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund since May 2025. Prior to joining Amundi US in 2022, he was a Portfolio Manager of Core and Value Equities at Genter Capital Management from 2020 to 2022. Prior to Genter Capital Management, he worked for 12 years at Goldman Sachs Asset Management as Managing Director, Co-Head of Value and Core Equities and Portfolio Manager.
Sammi Truong, Vice President of Pioneer Investments, joined the Adviser following the integration of Amundi US into the Adviser and has served as portfolio manager of the Fund since May 2025. She joined Amundi US in 2001 and has been an investment professional since 2001.
34210-00-0625