M&A: PIONEER SERIES TRUST X

Form Type: 497K

Filing Date: 2024-12-30

Corporate Action: Merger

Type: Update

Accession Number: 000027677624000161

Comments: On July 9, 2024, Amundi Asset Management US, Inc. announced that it entered into a definitive agreement with Victory Capital Holdings, Inc. to combine the Adviser with Victory Capital and for Amundi to become a strategic shareholder of Victory Capital. This transaction requires certain regulatory approvals and other conditions to close. If the transaction is approved, the fund's current investment advisory agreement will terminate, and the Board of Trustees will be asked to approve a reorganization of the fund into a newly established Victory Fund managed by Victory Capital Management Inc. Shareholder approval will also be sought for this reorganization. The fund aims for total return, including high current income, and has various investment strategies involving fixed income and equity markets. The summary document outlines the fund's fees, expenses, risks, and investment strategies, emphasizing potential volatility in financial markets due to various economic and geopolitical factors. Investors are informed about the risks associated with high yield bonds, interest rate changes, and liquidity concerns, which may affect the fund's performance.

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