M&A: PIONEER HIGH YIELD FUND

Form Type: N-CSR

Filing Date: 2025-01-06

Corporate Action: Merger

Type: New

Accession Number: 000119312525002058

Comments: Pioneer High Yield Fund's annual shareholder report for the fiscal year ended October 31, 2024, details significant developments including its performance against benchmark indices and a proposed merger with Victory Capital Holdings, Inc. On July 9, 2024, Amundi Asset Management US, Inc., the Fund's adviser, announced it had entered a definitive agreement to combine with Victory Capital. This transaction may lead to the Fund's reorganization into a newly established Victory Fund, pending approval by the Fund's Board of Trustees and shareholders. The report provides an overview of costs associated with investments, highlighting a 16.04% return for Class A shares and detailing key fund statistics such as total net assets of $584,097,078, and a 60% portfolio turnover rate. The report also emphasizes the significance of individual security selection as a key driver of performance, with sector allocations impacting returns. Shareholders are encouraged to seek additional information about the potential merger and fund performance through available resources.

Document Link: View Document