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Rating:95 Years, $6.5B In AUM, And ... Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, February 14, 2023

95 Years, $6.5B In AUM, And ...

Reported by Neil Anderson, Managing Editor

The U.S. team at a multinational European asset manager is celebrating a big milestone for one of their mutual funds.

Lisa Jones
Amundi Asset Management US, Inc.
President, CEO
Yesterday was the Pioneer Fund's 95th birthday. Lisa Jones, head of the Americas at Amundi and president and CEO of Amundi Asset Management US, Inc. (Amundi US [profile]), and Jeff Kripke, lead portfolio manager of the fund, trumpeted the milestone yesterday, noting that the fund is the second oldest fund in the U.S.; its inception date was February 13, 1928.

As of December 31, 2022, Pioneer Fund held $6.5 billion in AUM (and the Amundi team powers another $6 billion in products, like SMAs and CITs, with the same large cap equity investing strategy, which also incorporates ESG). In addition to Kripke (senior vice president), the fund's other PMs include: John Carey (managing director and director of equity income, U.S.), Craig Sterling (managing director, director of core equity, head of equity research, U.S.), and James Yu (vice president). Kripke is the fifth lead PM to oversee the fund since inception.

"After nearly a century, Pioneer Fund is a testament to the value of active management over multiple economic and market cycles," Jones states.

Pioneer Fund comes in five share classes: A shares (PIODX), with 106 basis points for expense ratio and up to 575 bps in upfront load; C shares (PCODX), with 183 bps in expense ratio and up to 100 percent in deferred load; K (PIOKX) shares with 61 bps in expense ratio; R (PIORX) shares with 145 bps in expense ratio; and Y (PYODX) shares for 61 bps in expense ratio. Amundi US is the fund's advisor, and Amundi Distributor US, Inc. is the distributor and principal underwriter.

The fund's other service providers include: Bank of New York Mellon as accounting agent, custodian, and sub-administrator; BNY Mellon Investment Servicing (US) Inc. as shareholder servicing and transfer agent; Ernst & Young LLP as independent accounting firm; and Sullivan & Cromwell LLP as counsel to the fund's independent trustees. 

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