USAA Investment Management Company allocates assets across a wide range of mutual fund categories, including equity and fixed-income funds. The company seeks to follow military values — Service, Loyalty, Honesty and Integrity — to offer financial services such as brokerage services and discretionary asset management.
Founded more than 40 years ago, the company has invested in more than 50 mutual funds. The company aims to offer the best options at low initial investments and reasonable entry points.
On Jul 1, Victory Capital Holdings, Inc. completed the acquisition of USAA Asset Management Company, which comprises USAA’s Mutual Fund, ETF businesses and the latter’s 529 College Savings Plan. As of Apr 30, 2019, Victory Capital had $61.0 billion in and USAA Asset Management Company had $81.3 billion in assets under management.
Below we share with you three top-ranked USAA mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of USAA funds.
USAA Cornerstone Conservative Fund (USCCX - Free Report) aims for current income. The fund invests the majority of its assets in fixed-income securities. USCCX may also invest in equity securities. It follows a fund-of-funds strategy of investing its assets in a selection of affiliated mutual funds and ETFs through which it invests in fixed-income securities and equity securities. USCCX has returned 3.7% in the past three years.
Wasif A. Latif is one of USCCX’s fund managers since 2012.
USAA Managed Allocation Fund (UMAFX - Free Report) seeks to raise its total return, which mostly comprises capital growth. The fund invests the majority of its assets in equity securities and fixed-income securities through investments in shares of other investment companies. These could include ETFs and REITs. UMAFX has three-year annualized returns of 2.1%.
UMAFXhas an expense ratio of 0.76% compared to the category average of 1.41%.
USAA Growth and Tax Strategy Fund (USBLX - Free Report) aims for both income and growth of capital. The fund invests the majority of its assets in tax-exempt bonds, money-market instruments and blue-chip stocks. It is managed with an objective of minimizing the affect of federal income tax to investors.USBLX has three-year annualized returns of 6.3%.
As of the end of March 2020, USBLX held 732 issues, with 2.34% of its assets invested in Microsoft Corp.
To view the Zacks Rank and past performance of all USAA mutual funds, investors can click here to see the complete list of USAA funds.
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