Amundi US Reduces Expenses on Certain Pioneer Mutual Funds

BOSTON--(BUSINESS WIRE)--Amundi US today announced reduced fees and expenses for certain Pioneer U.S. mutual funds and share classes, which result in lower costs to shareholders. The changes will be effective October 1, 2021. Costs will be reduced through a combination of an immediate reduction in management fees and lower caps on total expense ratios for certain share classes.

Lisa Jones, President and Chief Executive Officer of Amundi US, said, “Consistent with our strategic goal of adding value for our clients, and to further support our commitment to shareholders, we identified opportunities to reduce fees and expenses. The market is becoming increasingly price-focused, and lowering fees and expenses makes our offerings more competitive against both active and passive approaches.”

Details of the expense reductions are provided in the tables below. Additional details are available in the Prospectus of each Fund, available through the SEC or our website, www.amundi.com/us.

Share Class Level Expense Caps

Expense ratio caps are being reduced or added for certain share classes of Pioneer Strategic Income Fund, Pioneer AMT-Free Municipal Fund and Pioneer Disciplined Value Fund.

Fund – Share Class	Ticker	Current Total Expense Ratio (Net)	New Total Expense Ratio (Net)
Pioneer Strategic Income Fund - Y	STRYX	0.74%	0.69%
Pioneer Strategic Income Fund - K	STRKX	0.62%	0.59%
Pioneer AMT-Free Municipal Fund - Y	PBYMX	0.55%	0.49%
Pioneer Disciplined Value Fund - Y	CVFYX	0.70%	0.45%

Management Fee Reductions

Expenses on Pioneer Disciplined Value Fund are being lowered through a reduced management fee.

Fund – Share Class	Current Effective Management Fee	New Effective Management Fee
Pioneer Disciplined Value Fund	0.65%	0.40%

Investing in mutual funds involves significant risks. For complete information on the specific risks associated with each fund, please see the appropriate fund prospectus.

Before investing, consider the product’s investment objectives, risks, charges and expenses. Contact your advisor or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully.

Individuals are encouraged to seek advice from their financial, legal, tax and other appropriate financial professionals before making any investment or financial decisions or purchasing any financial, securities or investment-related product or service, including any product or service described in these materials. Amundi US does not provide investment advice or investment recommendations.

About Amundi US

Amundi US is the US business of Amundi, Europe’s largest asset manager by assets under management and ranked among the ten largest globally^[1]. Boston is one of Amundi’s six main global investment hubs^[2] and offers a broad range of fixed-income, equity, and multi-asset investment solutions in close partnership with wealth management firms, distribution platforms, and institutional investors across the Americas, Europe, and Asia-Pacific.

With our financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape. Amundi clients benefit from the expertise and advice of over 4,500 employees in 37 countries. A subsidiary of the Crédit Agricole group and listed on the Paris stock exchange, Amundi currently manages approximately $2.12 trillion of assets^[3].

Amundi, a Trusted Partner, working every day in the interest of our clients and society

www.amundi.com/us

Follow us on linkedin.com/company/amundi-us/ and twitter.com/amundi_us.

1. Source: IPE “Top 500 Asset Managers” published in June 2021, based on assets under management as of 12/31/2020

2. Boston, Dublin, London, Milan, Paris, and Tokyo

3. Amundi data as of 6/30/21

Amundi Asset Management US, Inc.
Amundi Distributor US, Inc. Member SIPC
(Formerly Amundi Pioneer Distributor, Inc.)
60 State Street, Boston, MA 02109
© 2021 Amundi Asset Management US, Inc.