Pioneer Investments has launched Class K shares of its mutual funds for defined contribution plans that are precluded from investing in mutual fund shares with Rule 12b-1 fees or sub-transfer agency fees as part of the expense ratio.

Pioneer mutual funds that now offer Class K shares, along with their estimated total expense ratios, include:

Pioneer Fundamental Growth Fund (PFGKX) 71 basis points

Pioneer Oak Ridge Small Cap Growth Fund (ORIKX) 92 bps.

Pioneer Equity Income Fund (PEQKX) 66 bps.

Pioneer Strategic Income Fund (STRKX) 62 bps.

Pioneer Bond Fund (PBFKX) 56 bps.

Pioneer Multi-Asset Ultrashort Income Fund (MAUKX) 43 bps.

Class K shares also will be available to certain direct institutional investors with an initial investment of at least $5 million.

“The retirement plan market is rapidly moving towards lower-cost share classes,” stated Joe Kringdon, Head of U.S. Retail Sales and Marketing. “This new share class offers no 12b-1 or shareholder servicing fees, and is available specifically for 401(k) and other qualified group retirement plans.” Kringdon added.

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