Pioneer Investment Management of Boston is asking shareholders of the $183 million Pioneer Balanced Fund to approve hiring Prudential Investment Corporation of Newark, N.J. as the sub-adviser to the fund. If approved, the sub-advisory agreement is expected to take effect May 1. Prudential would assume the day-to-day management of the fund and would determine the asset allocation between the fund's equity and fixed-income portions, according to a Feb. 7 proxy filing by Pioneer.

Pioneer wants to give the fund the flexibility to shift the balance between stock and bond holdings as market conditions dictate, said Denise Robbi-Arena, a Pioneer spokesperson.

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