M&A: Pioneer Series Trust V
Form Type: 497K
Filing Date: 2024-12-30
Corporate Action: Acquisition
Type: Update
Accession Number: 000027677624000162
Comments: Pioneer Global Sustainable Equity Fund is undergoing a significant corporate action as its investment adviser, Amundi Asset Management US, Inc., announced a definitive agreement on July 9, 2024, to merge with Victory Capital Holdings, Inc. This merger will make Amundi a strategic shareholder of Victory Capital. Upon closing the transaction, which requires regulatory approvals, the fund’s existing investment advisory agreement will be terminated. The fund's Board of Trustees will propose reorganizing the fund into a newly established Victory Fund managed by Victory Capital Management Inc. This change is contingent upon the approval of the Board and the shareholders. Both parties have not guaranteed that the transaction will close successfully. The fund's objective remains long-term capital growth, and there are various investment strategies in place, including the focus on sustainable businesses and adherence to ESG practices. Potential investment challenges include market risks, non-U.S. investment risks, and the implications of the ongoing geopolitical situation, particularly regarding Russia's invasion of Ukraine and its impact on global markets.
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Additional details:
Investment Objective: long-term capital growth
Fees And Expenses: Various fees for different classes of shares, including maximum sales charges and annual operating expenses.
Principal Investment Strategies: Investing at least 80% of net assets in equity securities with ESG criteria.
Portfolio Turnover: 52% during the most recent fiscal year.
Risks Of Investing: Market risk, geopolitical risk, and non-U.S. investment risks including currency risk and style risk.
Form Type: 497K
Filing Date: 2024-12-30
Corporate Action: Merger
Type: Update
Accession Number: 000027677624000163
Comments: Pioneer High Income Municipal Fund is undergoing a merger with Victory Capital Holdings, Inc. The transaction entails a combination of the existing investment adviser, Amundi Asset Management US, Inc., with Victory Capital. Under the merger agreement, Amundi will transition into a strategic shareholder of Victory Capital, later requesting the fund's Board of Trustees approval to reorganize the fund into a newly established Victory Fund. This reorganization is contingent on the closing of the merger, which is subject to regulatory approvals. If the merger is successful, the current investment advisory agreement with Amundi will end. Shareholder approval will be sought for the proposed changes, with no guarantee on the outcome of the Board and shareholder votes.
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Additional details:
Investment Objective: Maximize total return through tax-exempt income and capital appreciation
Fees And Expenses Class A: {"maximum_sales_charge":4.5,"annual_fund_operating_expenses":0.87}
Fees And Expenses Class C: {"maximum_sales_charge":0,"annual_fund_operating_expenses":1.64}
Fees And Expenses Class K: {"maximum_sales_charge":0,"annual_fund_operating_expenses":0.6}
Fees And Expenses Class Y: {"maximum_sales_charge":0,"annual_fund_operating_expenses":0.7}
Total Annual Fund Operating Expenses Class A: 0.82
Total Annual Fund Operating Expenses Class C: 1.59
Total Annual Fund Operating Expenses Class K: 0.55
Total Annual Fund Operating Expenses Class Y: 0.55
Portfolio Turnover Rate: 30
High Yield Municipal Obligations Percentage: 80