Victory RS Global Fund Q2 2025 Commentary
Summary
- The Victory RS Global Fund returned +11.40% (Class A Shares at net asset value) for the period, while its benchmark, the MSCI All Country World Index, returned +11.53%.
- Positive stock selection in the Industrials, Utilities and Consumer Discretionary sectors supported relative performance for the period, while stock selection was negative in the Information Technology and Health Care sectors.
- Trade-related uncertainty continues to frustrate investors, inhibiting business investment and impairing the ability of companies to offer meaningful guidance.
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Market Review
Global Equities (as measured by the MSCI All Country World Index) surged 11.53% in the second quarter of 2025 despite uncertain U.S. trade policy and escalating conflicts in the Middle East. Shares declined sharply in reaction to
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