Effective March 2, 2021, John Bonnell was removed from USAA Growth and Tax Strategy's manager roster and replaced by Lauren Spalten. Spalten joined the USAA municipal-bond team in September 2018 as a senior analyst and has about 10 years of muni investing experience. As part of this transition, Victory added two members to the municipal-bond team. Both have experience managing separately managed muni-bond portfolios at USAA. This change does not impact our People Pillar rating of Average or our Morningstar Analyst rating of Neutral across the fund's four share classes.
Will USBLX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable USBLX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the USBLX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of USBLX’s parent organization’s priorities and whether they’re in line with investors’ interests.