CERTIFICATIONS
I, DANIEL S. MCNAMARA, certify that:
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1. I have reviewed the reports on Form N-CSR/S for the period ending
November 30, 2014 for the following funds of USAA MUTUAL FUNDS TRUST:
Cornerstone Moderate Fund
Cornerstone Moderately Aggressive Fund
Cornerstone Moderately Conservative Fund
Cornerstone Aggressive Fund
Cornerstone Conservative Fund
Cornerstone Equity Fund
Growth & Tax Strategy Fund
Emerging Markets Fund Shares
Emerging Markets Fund Institutional Shares
Emerging Markets Fund Adviser Shares
Managed Allocation Fund
Precious Metals & Minerals Fund Shares
Precious Metals & Minerals Fund Institutional Shares
Precious Metals & Minerals Fund Adviser Shares
International Fund Shares
International Fund Institutional Shares
International Fund Adviser Shares
World Growth Fund Shares
World Growth Fund Adviser Shares
Government Securities Fund Shares
Government Securities Fund Adviser Shares
Treasury Money Market Fund
2. Based on my knowledge, these reports do not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by these reports;
3. Based on my knowledge, the financial statements, and other financial
information included in these reports, fairly present in all material respects
the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash
flows) of the Registrant as of, and for, the periods presented in these reports;
4. The Registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the Registrant and have:
(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the Registrant, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which these reports are being prepared;
(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;
(c) Evaluated the effectiveness of the Registrant's disclosure controls and
procedures and presented in these reports our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in these reports any change in the Registrant's internal
control over financial reporting that occurred during the Registrant's most
recent fiscal half-year (the Registrant's second fiscal half-year in the case of
an annual report) that has materially affected, or is reasonably likely to
materially affect, the Registrant's internal control over financial reporting;
and
5. The Registrant's other certifying officer(s) and I have disclosed to the
Registrant's auditors and the audit committee of the Registrant's board of
directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the Registrant's ability to record, process,
summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the Registrant's internal control over
financial reporting.
Date: 01/27/2015 /s/ DANIEL S. MCNAMARA
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Daniel S. McNamara
President
I, ROBERTO GALINDO, JR., certify that:
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1. I have reviewed the reports on Form N-CSR/S for the period ending
November 30, 2014 for the following funds of USAA MUTUAL FUNDS TRUST:
Cornerstone Moderate Fund
Cornerstone Moderately Aggressive Fund
Cornerstone Moderately Conservative Fund
Cornerstone Aggressive Fund
Cornerstone Conservative Fund
Cornerstone Equity Fund
Growth & Tax Strategy Fund
Emerging Markets Fund Shares
Emerging Markets Fund Institutional Shares
Emerging Markets Fund Adviser Shares
Managed Allocation Fund
Precious Metals & Minerals Fund Shares
Precious Metals & Minerals Fund Institutional Shares
Precious Metals & Minerals Fund Adviser Shares
International Fund Shares
International Fund Institutional Shares
International Fund Adviser Shares
World Growth Fund Shares
World Growth Fund Adviser Shares
Government Securities Fund Shares
Government Securities Fund Adviser Shares
Treasury Money Market Fund
2. Based on my knowledge, these reports do not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by these reports;
3. Based on my knowledge, the financial statements, and other financial
information included in these reports, fairly present in all material respects
the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash
flows) of the Registrant as of, and for, the periods presented in these reports;
4. The Registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the Registrant and have:
(a) designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the Registrant, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which these reports are being prepared;
(b) designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;
(c) evaluated the effectiveness of the Registrant's disclosure controls and
procedures and presented in these reports our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based such evaluation; and
(d) disclosed in these reports any change in the Registrant's internal
control over financial reporting that occurred during the Registrant's most
recent fiscal half-year (the Registrant's second fiscal half-year in the case of
an annual report) that has materially affected, or is reasonably likely to
materially affect, the Registrant's internal control over financial reporting;
and
5. The Registrant's other certifying officer(s) and I have disclosed to
the Registrant's auditors and the audit committee of the Registrant's board of
directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the Registrant's ability to record, process,
summarize, and report financial information; and
(b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Registrant's internal control over
financial reporting.
Date: 01/27/2015 /s/ ROBERTO GALINDO, JR.
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Roberto Galindo, Jr.
Treasurer