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Tuesday, February 17, 2004

Pioneer Completes Adoption

by: Nicole Halsey

Boston-based Pioneer Investment Management, Inc. has completed the adoption of two mutual funds managed by Oak Ridge Investments, LLC into the Pioneer family of funds.

The Oak Ridge Large Cap Equity Fund has become the Pioneer Oak Ridge Large Cap Growth Fund, and the Oak Ridge Small Cap Equity Fund has become the Pioneer Oak Ridge Small Cap Growth Fund. As the end of last month, both funds had a total of $25 million in assets.

Pioneer will serve as the investment manager while Oak Ridge Investments will stay on as subadvisor to the fund. David M. Klaskin, chairman and cio of Oak Ridge, will remain lead portfolio manager to both funds as well.

Chicago-based Oak Ridge Investments currently manages approximately $1.5 billion in assets for institutions and high net worth individuals through separate account wrap programs distributed through the broker dealer community. The firm focuses primarily on large and small capitalization companies with accelerating earnings and growth rates.  

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