M&A - PIONEER FUND /MA/
Form Type: N-CSR
Filing Date: 2025-02-28
Corporate Action: Merger
Type: Update
Accession Number: 000119312525040547
Filing Summary: This document reports on the Pioneer Fund for the period ending December 31, 2024. Notable material changes include an announcement from Amundi Asset Management about entering a definitive agreement with Victory Capital Holdings for a merger that would reorganize the fund into a new Victory Fund, pending shareholder approval. The report details the fund's performance, with Class A shares returning 22.58%, Class C shares returning 21.64%, and Class K shares returning 22.94% for the fiscal year. Sector allocation decisions impacted performance, particularly with an overweight in materials and stock selection in healthcare. The report outlines key statistics, including total net assets of approximately $8.97 billion and a portfolio turnover rate of 64%. Shareholder communications about the merger are addressed alongside performance data and future expectations for fund reorganization.
Document Link: View Document
Additional details:
Costs Of A 10000 Investment Class A: 102
Percentage Of A 10000 Investment Class A: 0.92
Return Class A: 22.58
Return Class C: 21.64
Return Class K: 22.94
Total Number Of Portfolio Holdings: 44
Total Advisory Fee Paid: 49705321
Portfolio Turnover Rate: 64
Fund Net Assets: 8969098320
Underperformance Sector Materials: accounts for majority of the underperformance
Underperformance Sector Health Care: hurt relative benchmark returns
Performance Contributors Information Technology: added the most to relative benchmark returns
Key Fund Statistics As Of December 31 2024: Information Technology: 32.0%, Financials: 18.0%, Health Care: 11.2%, Industrials: 10.5%, Basic Materials: 9.3%, Consumer Discretionary: 9.0%, Communication Services: 5.4%, Consumer Staples: 2.5%, Energy: 2.1%
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