Pioneer Investments is combining two mid cap growth funds, an SEC filing reveals.

Three of the $268 million Pioneer Mid Cap Growth Fund's four share classes (A, C and Y) will fold into the $154 million Pioneer Select Mid Cap Growth Fund's respective A, C and Y classes (B shares of the former fund will convert to A shares of the latter fund).

According to the filing, the Board of Trustees approved the merger to "eliminate confusion in the marketplace caused by having two substantially similar funds" and to achieve cost savings from economies of scale.

The shareholder vote is scheduled for January 20, 2010, and the reorganization would take effect two days later. 

Edited by: Adam Kommel


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