Products January 2, 2013
Pioneer Offers Low-Cost Share Class for Group DC Plans
January 2, 2013 (PLANSPONSOR.com) - Pioneer Investments launched a low-cost share class designed for inclusion in certain qualified defined contribution (DC) group retirement plans.
Reported by PLANSPONSOR staff
Pioneer’s Class K shares are designed for DC 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.
“The retirement plan market is rapidly moving towards lower-cost share classes,” said Joe Kringdon, executive vice president and 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.”
The Pioneer mutual funds that now offer Class K shares, along with their estimated total expense ratios, are:
- Pioneer Fundamental Growth Fund (PFGKX) – 0.71%;
- Pioneer Oak Ridge Small Cap Growth Fund (ORIKX) – 0.92%;
- Pioneer Equity Income Fund (PEQKX) – 0.66%;
- Pioneer Strategic Income Fund (STRKX) – 0.62%;
- Pioneer Bond Fund (PBFKX) – 0.56%; and
- Pioneer Multi-Asset Ultrashort Income Fund (MAUKX) – 0.43%.
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