Boston-based Pioneer Investment Management
will acquire New York-based Cullen Capital Management's Cullen Value Fund, pending shareholder approval. Officials expect the acquisition to close in early 2005. The news was announced in a release
The Cullen Value Fund has approximately $38.3 million in assets.
Pioneer officials said they would reorganize the fund into a new Pioneer fund, but retain Cullen Capital Management as the subadvisor.
"I expect financial advisers and their clients who are in search of a large-cap value alternative to take note of this fund," stated Mark Goodwin
, senior vice president, chief financial officer and treasurer of Pioneer.
Stay ahead of the news ... Sign up for our email alerts now