Pioneer Investments, the fund management arm of UniCredito Italiano, has bought four funds from L. Roy Papp & Associates to boost its fund range.

Papp & Associates will remain subadvisors to the funds which have a total of $140m (€124m) in assets. The funds, small and midcap growth, America-Pacific Rim, stock fund and America-Abroad will retain Roy Papp and Rosellen Papp as subadvisors. Roy Papp founded the firm in 1978 and has managed the funds since inception.

Pioneer Investments buys US mutual fund range

Pirkko Juntunen

UniCredito Italiano

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