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Rating:Pioneer Reorganizes Five Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 11, 2010

Pioneer Reorganizes Five Funds

by: Daniel Tovrov

Pioneer Investments is merging three mutual funds into two of its other funds. The Pioneer Growth Fund will merge with the Pioneer Fundamental Growth Fund and both the Pioneer Tax Free Income Fund and Pioneer Intermediate Tax Free Income Fund will be combined with the Pioneer AMT-Free Municipal Fund.

The reorganization was approved by trustees, and is scheduled to occur on March 5, according to a filing.

Pioneer is going ahead with the mergers "to ensure that the funds offered are economically viable, represent clear investment choices, and effectively meet the needs of investors," as noted in a statement.

Management of the acquiring funds will not change, and the Pioneer Fundamental Growth Fund and Pioneer AMT-Free Municipal Fund will continue to be managed by Timothy Mulrenan and David Eurkus, respectively. The merger will also have no effect on the expense ratio of either acquiring fund. 

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