M&A - Pioneer Series Trust III
Form Type: N-CSRS
Filing Date: 2025-05-08
Corporate Action: Merger
Type: Update
Accession Number: 000119312525115756
Filing Summary: This semi-annual shareholder report covers the period from September 1, 2024, to February 28, 2025, for the Pioneer Disciplined Value Fund. It includes key fund statistics such as net assets of $417,544,808, 46 total portfolio holdings, and a portfolio turnover rate of 32%. The report discusses significant changes in the fund, particularly the merger of Amundi Asset Management US, Inc. with Victory Capital Holdings, Inc. on April 1, 2025, affecting investment advisory services. The fund's Board has endorsed reorganization into Victory Portfolios IV, pending shareholder approval. As of March 27, 2025, shareholders have yet to approve the reorganization, though indications show favorable voting outcomes. Key costs associated with the investment options are also detailed, alongside sector allocations and investment strategy intended to ensure compliance with regulatory standards. Should the reorganization not be approved by August 29, 2025, the Board will explore alternative solutions.
Additional details:
Date Of Fiscal Year End: 2024-08-31
Date Of Reporting Period: 2025-02-28
Fund Net Assets: 417544808
Total Number Of Portfolio Holdings: 46
Portfolio Turnover Rate: 32%
Material Changes: Amundi Asset Management US, Inc. merged with Victory Capital Holdings, Inc. and the fund is set to reorganize into Victory Portfolios IV, pending shareholder approval.
Interim Investment Advisory Agreement Effective Date: 2025-04-01
Reorganization Deadline: 2025-08-29
Form Type: 497K
Filing Date: 2024-12-30
Corporate Action: Merger
Type: Update
Accession Number: 000027677624000164
Filing Summary: Pioneer Series Trust III (the ‘Fund’) is undergoing a proposed reorganization due to a definitive agreement announced by Amundi Asset Management US, Inc. to combine with Victory Capital Holdings, Inc. (‘Victory Capital’). Subject to regulatory approvals, Amundi will become a strategic shareholder in Victory Capital, leading to the termination of the current investment advisory agreement with the Fund. The Fund’s Board of Trustees will consider a reorganization of the Fund into a newly established Victory Fund, advised by Victory Capital Management Inc. This proposal will also be submitted to the Fund’s shareholders for their approval. There are no guarantees that the transaction or resulting reorganization will occur, depending on Board and shareholder approval.
Additional details:
Investment Objective: long-term capital growth
Maximum Sales Charge: 5.75%
Maximum Deferred Sales Charge: None
Annual Fund Operating Expenses: 0.86% for Class A
Portfolio Turnover Rate: 111%
Fees And Expenses Summary: Class A: 0.86% net expenses; Class C: 1.63%; Class K: 0.52%; Class R: 1.24%; Class Y: 0.61%.
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