Pioneer Offers Share Class for DC Plans

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 toward 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%. 

Class K shares are intended for 401(k) and other Employee Retirement Income Security Act (ERISA)-defined contribution plans that trade omnibus with the fund at the plan sponsor level. For qualified plans, there are no minimum purchase requirements. Class K shares also will be available to certain direct institutional investors with an initial investment of at least $5 million.