USAA Mutual Funds

USAA Mutual Funds
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#1

USAA Mutual Funds have been sold to Victory Capital (whoever they are… very little info).

I decided to get out.

Any Comments/reaction??


#2

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#3

Interesting—I own USAA funds, but this is news to me. How did you learn it happened?


#4

See here:
https://www.investmentnews.com/article/20181108/FREE/181109942/usaa-retreats-from-asset-management-business-with-850-million-sale

I think it is very hard to compete now with Vanguard, Fidelity, iShare and so on that have the asset base to invest in technology which helps them offer products are low to no fees.


#5

https://www.streetinsider.com/Corporate+News/Victory+Capital+(VCTR)+to+ Acquire+USAA+Asset+Management+ Company/14793133.html

If USAA had sold to a recognized firm (Vg,Fid,TRP etc), I would have stayed… but obviously the USAA brand was not as valuable to an Established Brand as to ?? Victory Capital ??