Pioneer Investments plans to reorganize three funds with combined assets of $396 million as of end-January into three others. Executives at the Boston asset manager said Friday last week that the moves "are part of our ongoing effort to ensure that the funds we offer are economically viable, represent clear investment choices, and effectively meet the needs of investors."
Pioneer plans to fold the
Pioneer AMT-Free CA Municipal Fund into the
Pioneer AMT-Free Municipal Fund,
Pioneer International Equity Fund into the
Pioneer International Value Fund and
Pioneer Europe Select
Equity Fund into
Pioneer Global Select Equity Fund.
The changes are expected to be complete in June.
"Combining funds with similar investment
strategies presents the opportunity for improved operating efficiencies and additional long-term growth," company officials said.
Pioneer also said that
Stephen Bauer, who manages the AMT-Free CA Municipal Fund and AMT-Free Municipal Fund will retire effective April 1.
David Eurkus will become the lead manager of the AMT-Free Municipal Fund. 
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