M&A: PIONEER SHORT TERM INCOME FUND

Form Type: 497K

Filing Date: 2024-12-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000027677624000166

Comments: This document is a summary prospectus for Pioneer Short Term Income Fund dated December 31, 2024. It outlines the fund's investment strategies, objectives, risks, fees, and performance expectations. The fund seeks high current income with a level of principal stability. It primarily invests in investment-grade debt securities, including U.S. government and corporate bonds, while also permitting investment in below-investment-grade securities. There is a notable upcoming transaction where Amundi Asset Management intends to merge the fund's adviser, Amundi Asset Management US, Inc., with Victory Capital Holdings, Inc., making Amundi a strategic shareholder in Victory Capital. The merger is contingent upon regulatory approval and involves restructuring the fund into a new Victory Fund advised by Victory Capital Management Inc. Shareholder approval for this reorganization will be sought once the transaction closes. The document details potential risks, including market risk, credit risk, interest rate risk, and the effects of global economic conditions. The fund charges specific fees based on share classes, including management and distribution fees, which vary by class.

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