M&A - PIONEER MID CAP VALUE FUND
Form Type: 497K
Filing Date: 2025-02-28
Corporate Action: Merger
Type: Update
Accession Number: 000027677625000024
Filing Summary: Pioneer Mid Cap Value Fund's summary prospectus dated March 1, 2025, outlines the impending merger with Victory Capital Holdings, Inc., where the fund's adviser, Amundi Asset Management US, Inc., is expected to combine operations with Victory Capital, making Amundi a strategic shareholder of Victory Capital. The merger is conditional upon specific regulatory approvals and fund shareholder consent, which has already received the endorsement of the fund's Board of Trustees. The reorganization could lead to the fund being integrated into a newly established Victory Fund under the management of Victory Capital Management Inc. This document also details the fund's investment strategies, objectives, associated risks, fees, and expenses, emphasizing its focus on mid-size companies and the importance of environmental, social, and governance (ESG) considerations in investment analysis. Potential risks include market volatility, governmental actions, and specific risks related to mid-size companies. The merger proposal is still pending shareholder approval, highlighting that no final outcome is guaranteed until all conditions are satisfied.
Document Link: View Document
Additional details:
Investment Objective: Capital appreciation by investing in a diversified portfolio of securities consisting primarily of common stocks.
Portfolio Turnover Rate: 33% of the average value of its portfolio.
Management Fee: 0.76%
Annual Fund Operating Expenses Class A: 1.17%
Annual Fund Operating Expenses Class C: 2.00%
Annual Fund Operating Expenses Class K: 0.88%
Annual Fund Operating Expenses Class R: 1.61%
Annual Fund Operating Expenses Class Y: 0.97%
Maximum Sales Charge Class A: 5.75%
Maximum Deferred Sales Charge Class C: 1%
Form Type: N-CSR
Filing Date: 2025-01-06
Corporate Action: Merger
Type: Update
Accession Number: 000119312525002061
Filing Summary: Pioneer Mid Cap Value Fund is undergoing a potential merger as part of a definitive agreement with Victory Capital Holdings, Inc. announced on July 9, 2024. This agreement is set to combine the fund's adviser, Amundi Asset Management US, Inc., with Victory Capital, making Amundi a strategic shareholder of Victory Capital. The closing of this transaction is contingent upon regulatory approvals and other conditions, with no guarantee it will finalize. Should the transaction close, it would terminate the current investment advisory agreement of the Fund with Amundi. Subsequently, the Fund's Board of Trustees will seek to approve a reorganization into a new Victory Fund advised by Victory Capital Management Inc. The proposal, if supported by the Board, will be put forward to shareholders for their approval. There is uncertainty regarding both the Board's and shareholders' acceptance of this proposed reorganization.
Document Link: View Document
Additional details:
Date Of Fiscal Year End: 2024-10-31
Reporting Period: 2023-11-01 to 2024-10-31
Fund Net Assets: $731,284,737
Total Number Of Portfolio Holdings: 66
Total Advisory Fee Paid: $5,414,675
Portfolio Turnover Rate: 33%
Fund Class A Return: 27.66%
Fund Class C Return: 26.53%
Fund Class K Return: 28.02%
Fund Class R Return: 27.07%
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