August 10, 2005
Dear Valued Client,
At AmSouth, we value your relationship and appreciate the opportunity to serve
your needs. For that reason, we want to inform you of an upcoming event that
will affect your account.
Recently the AmSouth Funds Board of Trustees approved, subject to AmSouth Funds
shareholder approval, the reorganization of the AmSouth Funds into either
existing Pioneer Funds or new Pioneer Funds created specifically to receive the
assets of the corresponding AmSouth Fund. Attached is a table setting out for
each AmSouth Fund the corresponding Pioneer Fund with which a reorganization is
proposed.
Your account currently has one or more AmSouth Funds as an investment. As
account holder, you will soon receive a proxy statement/prospectus relating to
the proposed reorganizations. Some of the fund fees disclosed in the proxy
statement/prospectus may be paid to AmSouth Bank. Additionally, AmSouth may
receive compensation from Pioneer that is not paid from the Pioneer Funds after
the reorganizations. The proposed reorganizations will be voted on by AmSouth
Fund shareholders at a meeting to be held on September 22, 2005. If you do not
vote promptly, a proxy solicitor hired by AmSouth Bancorporation may contact you
to take your vote over the phone.
If approved, the reorganizations are expected to become effective on or about
September 26, 2005. Once approved, shares of the AmSouth Funds will be
exchanged, dollar for dollar (based on net asset value), for comparable shares
of the corresponding Pioneer Funds. After the reorganizations, the AmSouth Funds
will cease operations.
QUALIFIED RETIREMENT PLANS
If you sponsor a qualified participant directed retirement plan, please be
advised that participants may continue to purchase shares of the AmSouth Funds
through the plan, until the close of business September 20, 2005, approximately
three business days prior to the date of the reorganizations. After September
20th, no new purchases will be accepted.
Exchange orders received after the close of business on September 20th will be
processed in the following manner. Upon the receipt of an exchange order, a
redemption order will be placed with the relevant AmSouth Fund. The sales price
will be the next net asset value determined after a redemption order is
received. Exchanges will not be completed until approximately Monday, September
26th, when shares of the corresponding Pioneer Fund will be purchased, assuming
the proposed reorganizations are approved by shareholders. PARTICIPANTS SHOULD
BE ADVISED THAT THE REDEMPTION PROCEEDS OF SHARES EXCHANGED FOR SHARES OF AN
AMSOUTH FUND WILL REMAIN UNINVESTED FROM THE DATE THE REDEMPTION ORDER IS
EXECUTED UNTIL APPROXIMATELY MONDAY, SEPTEMBER 26TH. ADDITIONALLY, PARTICIPANTS
SHOULD BE REMINDED THAT THEY MAY, OF COURSE, REQUEST AN ALTERNATIVE INVESTMENT,
IN LIEU OF AN EXCHANGE DURING THIS PERIOD.
If the reorganizations are approved, the necessary participant voice response
and Internet account information changes will be made. Enclosed is a sample
notice regarding these matters that can be used with your plan participants.
Participants should receive the notice as soon as possible.
ALL OTHER CLIENTS
For clients other than qualified participant directed retirement plans, the
AmSouth Funds will continue to process redemptions, exchanges and purchases of
Money Market Fund shares until the close of business on September 23rd. After
September 20th, no new purchases will be accepted by any AmSouth Fund other than
the Money Market Funds.
Exchange orders received after the close of business on September 20th will be
processed in the same manner for qualified retirement plans and other clients.
However, exchanges into a Money Market Fund will be completed. Exchanges into
any other AmSouth Fund will not be completed until approximately Monday,
September 26th, when shares of the corresponding Pioneer Fund will be purchased.
PLEASE NOTE THAT THE REDEMPTION PROCEEDS OF SHARES EXCHANGED FOR SHARES OF AN
AMSOUTH FUND, OTHER THAN A MONEY MARKET FUND, WILL REMAIN UNINVESTED FROM THE
DATE THE REDEMPTION ORDER IS EXECUTED UNTIL APPROXIMATELY MONDAY, SEPTEMBER
26TH. YOU MAY, OF COURSE, REQUEST A PAYOUT OF YOUR REDEMPTION PROCEEDS IN LIEU
OF AN EXCHANGE DURING THIS PERIOD.
* * * * * * * * * * * * * * **
AmSouth Funds, its Board of Trustees, and AmSouth Bancorporation may be deemed
to be participants with respect to the solicitation of proxies. INFORMATION
ABOUT THEIR INTERESTS IN THE SOLICITATION, IF ANY, IS CONTAINED IN THE PROXY
STATEMENT/PROSPECTUS THAT WILL BE MAILED TO YOU. WE URGE YOU TO READ THE PROXY
STATEMENT/PROSPECTUS WHEN IT IS AVAILABLE. IT CONTAINS IMPORTANT INFORMATION
REGARDING THE PROPOSED REORGANIZATIONS. COPIES OF THE PROXY STATEMENT/PROSPECTUS
AND DOCUMENTS FILED WITH THE SEC BY THE AMSOUTH FUNDS ARE AVAILABLE FREE OF
CHARGE AT THE SEC'S WEBSITE, WWW.SEC.GOV AND FROM AMSOUTH FUNDS, 3435 STELZER
ROAD, COLUMBUS, OHIO 43219 TELEPHONE (800) 451-8382.
DOCUMENTS FILED WITH THE SEC BY PIONEER ARE AVAILABLE FREE OF CHARGE ON THE
SEC'S WEBSITE AND FROM PIONEER INVESTMENT MANAGEMENT SHAREHOLDER SERVICES, INC.,
60 STATE STREET, BOSTON, MASSACHUSETTS 02109, TELEPHONE (800) 225-6292.
Pioneer Fund prospectuses and fund sheets are available on-line at
www.pioneerfunds.com or from your AmSouth Client Service Officer.
Thank you for your attention to this matter, and for your relationship with
AmSouth. If you have any questions, please contact your Client Service Officer.
Sincerely,
/s/ Kent Lytle
- --------------
Kent Lytle
AMSOUTH/PIONEER FUNDS MAPPING DOCUMENT
- --------------------------------------------------------------------------------
AmSouth Capital Growth Fund Pioneer Oak Ridge Large Cap Growth Fund
- --------------------------------------------------------------------------------
AmSouth Large Cap Fund Pioneer Oak Ridge Large Cap Growth Fund
- --------------------------------------------------------------------------------
AmSouth Enhanced Market Fund Pioneer Fund
- --------------------------------------------------------------------------------
AmSouth Value Fund Pioneer Value Fund
- --------------------------------------------------------------------------------
AmSouth Mid Cap Fund Pioneer Mid Cap Value Fund
- --------------------------------------------------------------------------------
AmSouth Small Cap Fund Pioneer Growth Opportunities Fund
- --------------------------------------------------------------------------------
AmSouth International Equity Fund PIONEER INTERNATIONAL CORE EQUITY
FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Select Equity Fund PIONEER FOCUSED EQUITY FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Balanced Fund PIONEER CLASSIC BALANCED FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Strategic Aggressive Growth Pioneer Ibbotson Aggressive
Portfolio Allocation Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Growth Portfolio Pioneer Ibbotson Growth Allocation Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Growth and Income Pioneer Ibbotson Moderate Allocation
Portfolio Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Moderate Growth & Pioneer Ibbotson Moderate Allocation
Income Portfolio Fund
- --------------------------------------------------------------------------------
AmSouth High Quality Bond Fund Pioneer Bond Fund
- --------------------------------------------------------------------------------
AmSouth Government Income Fund PIONEER GOVERNMENT INCOME FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Limited Term Bond Fund Pioneer Short Term Income Fund
- --------------------------------------------------------------------------------
AmSouth Treasury Reserve Money PIONEER TREASURY RESERVES FUND (NEW)
Market Fund
- --------------------------------------------------------------------------------
AmSouth Prime Money Market Fund Pioneer Cash Reserves Fund
- --------------------------------------------------------------------------------
AmSouth Tax-Exempt Money Market Fund Pioneer Tax Free Money Market Fund
- --------------------------------------------------------------------------------
AmSouth Institutional Prime PIONEER INSTITUTIONAL MONEY MARKET
Obligations Money Market Fund FUND (NEW)
- --------------------------------------------------------------------------------
TAX-EXEMPT FIXED INCOME FUNDS NOT SHOWN
Dear Valued Client,
At AmSouth Investment Services, Inc., we value your business and appreciate the
opportunity to serve your investment needs. For that reason, we want to inform
you of an upcoming event that will affect your investment holdings.
Recently the AmSouth Funds Board of Trustees approved, subject to shareholder
approval, the reorganization of the AmSouth Funds into either existing Pioneer
Funds or new Pioneer Funds created specifically to receive the assets of the
corresponding AmSouth Fund. Attached is a table setting forth the corresponding
Pioneer Fund for each AmSouth Fund for which a reorganization is proposed.
You currently hold one or more AmSouth Funds in your account. You will soon
receive a proxy statement/prospectus relating to the proposed reorganizations.
The proposed reorganizations will be voted on by AmSouth Fund shareholders at a
meeting to be held on September 22, 2005. If you do not vote promptly, a proxy
solicitor hired by AmSouth Bancorporation may contact you to take your vote over
the phone.
If approved, the reorganizations are expected to become effective on or about
September 26, 2005. Once approved, shares of the AmSouth Funds will be
exchanged, dollar for dollar (based on net asset value), for comparable shares
of the corresponding Pioneer Funds. After the reorganizations, the AmSouth Funds
will cease operations.
New purchases of shares of the AmSouth Funds may be made until the close of
business September 20, 2005, approximately three business days prior to the date
of the proposed reorganization. After September 20th, no new purchases will be
accepted by any AmSouth Fund other than the Money Market Funds. The AmSouth
Funds will continue to process redemptions and exchanges for all AmSouth Funds
and purchases of Money Market Fund shares until the close of business on
September 23rd.
Exchange orders received after the close of business on September 20th will be
processed in the following manner. Upon the receipt of an exchange order, a
redemption order will be placed with the relevant AmSouth Fund. The sales price
will be the next net asset value determined after a redemption order is
received. Exchanges into a Money Market Fund will be completed. Exchanges into
any other AmSouth Fund will not be completed until approximately Monday,
September 26th, when shares of the corresponding Pioneer Fund will be purchased,
assuming the proposed reorganizations are approved by shareholders. PLEASE NOTE
THAT THE REDEMPTION PROCEEDS OF SHARES EXCHANGED FOR SHARES OF AN AMSOUTH FUND,
OTHER THAN A MONEY MARKET FUND, WILL REMAIN UNINVESTED FROM THE DATE THE
REDEMPTION ORDER IS EXECUTED UNTIL APPROXIMATELY MONDAY, SEPTEMBER 26TH. YOU
MAY, OF COURSE, REQUEST A PAYOUT OF YOUR REDEMPTION PROCEEDS IN LIEU OF AN
EXCHANGE DURING THIS PERIOD.
AmSouth Funds, its Board of Trustees, and AmSouth Bancorporation may be deemed
to be participants with respect to the solicitation of proxies. INFORMATION
ABOUT THEIR INTERESTS IN THE SOLICITATION, IF ANY, IS CONTAINED IN THE PROXY
STATEMENT/PROSPECTUS THAT WILL BE MAILED TO YOU. WE URGE YOU TO READ THE PROXY
STATEMENT/PROSPECTUS WHEN IT IS AVAILABLE. IT CONTAINS IMPORTANT INFORMATION
REGARDING THE PROPOSED REORGANIZATIONS. COPIES OF THE PROXY STATEMENT/PROSPECTUS
AND DOCUMENTS FILED WITH THE SEC BY THE AMSOUTH FUNDS ARE AVAILABLE FREE OF
CHARGE AT THE SEC'S WEBSITE, WWW.SEC.GOV AND FROM AMSOUTH FUNDS, 3435 STELZER
ROAD, COLUMBUS, OHIO 43219 TELEPHONE (800) 451-8382.
Pioneer Fund prospectuses and fund sheets are available on-line at
www.pioneerfunds.com or from your AmSouth Investment Services Financial
Consultant.
Thank you for your attention to this matter, and for your relationship with
AmSouth. If you have any questions, please contact your Financial Consultant at
the number listed on your most recent statement.
Sincerely,
Tom Twitty
AMSOUTH/PIONEER FUNDS MAPPING DOCUMENT
- --------------------------------------------------------------------------------
AmSouth Capital Growth Fund Pioneer Oak Ridge Large Cap Growth Fund
- --------------------------------------------------------------------------------
AmSouth Large Cap Fund Pioneer Oak Ridge Large Cap Growth Fund
- --------------------------------------------------------------------------------
AmSouth Enhanced Market Fund Pioneer Fund
- --------------------------------------------------------------------------------
AmSouth Value Fund Pioneer Value Fund
- --------------------------------------------------------------------------------
AmSouth Mid Cap Fund Pioneer Mid Cap Value Fund
- --------------------------------------------------------------------------------
AmSouth Small Cap Fund Pioneer Growth Opportunities Fund
- --------------------------------------------------------------------------------
AmSouth International Equity Fund Pioneer International Core Equity
Fund (new)
- --------------------------------------------------------------------------------
AmSouth Select Equity Fund Pioneer Focused Equity Fund (new)
- --------------------------------------------------------------------------------
AmSouth Balanced Fund Pioneer Classic Balanced Fund (new)
- --------------------------------------------------------------------------------
AmSouth Strategic Aggressive Growth Pioneer Ibbotson Aggressive
Portfolio Allocation Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Growth Portfolio Pioneer Ibbotson Growth Allocation Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Growth and Income Pioneer Ibbotson Moderate Allocation Fund
Portfolio
- --------------------------------------------------------------------------------
AmSouth Strategic Moderate Growth & Pioneer Ibbotson Moderate Allocation Fund
Income Portfolio
- --------------------------------------------------------------------------------
AmSouth High Quality Bond Fund Pioneer Bond Fund
- --------------------------------------------------------------------------------
AmSouth Government Income Fund Pioneer Government Income Fund (new)
- --------------------------------------------------------------------------------
AmSouth Limited Term Bond Fund Pioneer Short Term Income Fund
- --------------------------------------------------------------------------------
AmSouth High Quality Municipal Bond Pioneer Tax Free Income Fund
Fund
- --------------------------------------------------------------------------------
AmSouth Florida Tax-Exempt Fund Pioneer Florida Tax Free Income Fund (new)
- --------------------------------------------------------------------------------
AmSouth Tennessee Tax-Exempt Fund Pioneer Tax Free Income Fund
- --------------------------------------------------------------------------------
AmSouth Treasury Reserve Money Pioneer Treasury Reserves Fund (new)
Market Fund
- --------------------------------------------------------------------------------
AmSouth Prime Money Market Fund Pioneer Cash Reserves Fund
- --------------------------------------------------------------------------------
AmSouth Tax-Exempt Money Market Fund Pioneer Tax Free Money Market Fund
- --------------------------------------------------------------------------------
AmSouth Institutional Prime Pioneer Institutional Money Market
Obligations Money Market Fund Fund (new)
- --------------------------------------------------------------------------------
Dear Valued Client,
At AmSouth, we value your relationship and appreciate the opportunity to serve
your investment needs. For that reason, we want to inform you of an upcoming
event that will affect your investment holdings.
Recently the AmSouth Funds Board of Trustees approved, subject to shareholder
approval, the reorganization of the AmSouth Funds into either existing Pioneer
Funds or new Pioneer Funds created specifically to receive the assets of the
corresponding AmSouth Fund. Attached is a table setting out for each AmSouth
Fund the corresponding Pioneer Fund with which a reorganization is proposed.
You currently hold one or more AmSouth Funds in your account. You will soon
receive a proxy statement/prospectus relating to the proposed reorganizations.
The proposed reorganizations will be voted on by AmSouth Fund shareholders at a
meeting to be held on September 22, 2005. If you do not vote promptly, a proxy
solicitor hired by AmSouth Bancorporation may contact you to take your vote over
the phone.
If approved, the reorganizations are expected to become effective on or about
September 26, 2005. Once approved, shares of the AmSouth Funds will be
exchanged, dollar for dollar (based on net asset value), for comparable shares
of the corresponding Pioneer Funds. After the reorganizations, the AmSouth Funds
will cease operations.
New purchases of shares of the AmSouth Funds may be made until the close of
business September 20, 2005, approximately three business days prior to the date
of the proposed reorganization. After September 20th, no new purchases will be
accepted by any AmSouth Fund other than the Money Market Funds. The AmSouth
Funds will continue to process redemptions and exchanges for all AmSouth Funds
and purchases of Money Market Fund shares until the close of business on
September 23rd.
Exchange orders received after the close of business on September 20th will be
processed in the following manner. Upon the receipt of an exchange order, a
redemption order will be placed with the relevant AmSouth Fund. The sales price
will be the next net asset value determined after a redemption order is
received. Exchanges into a Money Market Fund will be completed. Exchanges into
any other AmSouth Fund will not be completed until approximately Monday,
September 26th, when shares of the corresponding Pioneer Fund will be purchased,
assuming the proposed reorganizations are approved by shareholders. PLEASE NOTE
THAT THE REDEMPTION PROCEEDS OF SHARES EXCHANGED FOR SHARES OF AN AMSOUTH FUND,
OTHER THAN A MONEY MARKET FUND, WILL REMAIN UNINVESTED FROM THE DATE THE
REDEMPTION ORDER IS EXECUTED UNTIL APPROXIMATELY MONDAY, SEPTEMBER 26TH. YOU
MAY, OF COURSE, REQUEST A PAYOUT OF YOUR REDEMPTION PROCEEDS IN LIEU OF AN
EXCHANGE DURING THIS PERIOD.
AmSouth Funds, its Board of Trustees, and AmSouth Bancorporation may be deemed
to be participants with respect to the solicitation of proxies. INFORMATION
ABOUT THEIR INTERESTS IN THE SOLICITATION, IF ANY, IS CONTAINED IN THE PROXY
STATEMENT/PROSPECTUS THAT WILL BE MAILED TO YOU. WE URGE YOU TO READ THE PROXY
STATEMENT/PROSPECTUS WHEN IT IS AVAILABLE. IT CONTAINS IMPORTANT INFORMATION
REGARDING THE PROPOSED REORGANIZATIONS. COPIES OF THE PROXY STATEMENT/PROSPECTUS
AND DOCUMENTS FILED WITH THE SEC BY THE AMSOUTH FUNDS ARE AVAILABLE FREE OF
CHARGE AT THE SEC'S WEBSITE, WWW.SEC.GOV AND FROM AMSOUTH FUNDS, 3435 STELZER
ROAD, COLUMBUS, OHIO 43219 TELEPHONE (800) 451-8382.
DOCUMENTS FILED WITH THE SEC BY PIONEER ARE AVAILABLE FREE OF CHARGE ON THE
SEC'S WEBSITE AND FROM PIONEER INVESTMENT MANAGEMENT SHAREHOLDER SERVICES, INC.,
60 STATE STREET, BOSTON, MASSACHUSETTS 02109, TELEPHONE (800) 225-6292.
Pioneer Fund prospectuses and fund sheets are available on-line at
www.pioneerfunds.com or from your Trust Specialist.
Thank you for your attention to this matter, and for your relationship with
AmSouth.. If you have any questions, please contact your Trust Specialist.
Sincerely,
Kent Lytle
AMSOUTH/PIONEER FUNDS MAPPING DOCUMENT
- --------------------------------------------------------------------------------
AmSouth Capital Growth Fund Pioneer Oak Ridge Large Cap Growth Fund
- --------------------------------------------------------------------------------
AmSouth Large Cap Fund Pioneer Oak Ridge Large Cap Growth Fund
- --------------------------------------------------------------------------------
AmSouth Enhanced Market Fund Pioneer Fund
- --------------------------------------------------------------------------------
AmSouth Value Fund Pioneer Value Fund
- --------------------------------------------------------------------------------
AmSouth Mid Cap Fund Pioneer Mid Cap Value Fund
- --------------------------------------------------------------------------------
AmSouth Small Cap Fund Pioneer Growth Opportunities Fund
- --------------------------------------------------------------------------------
AmSouth International Equity Fund PIONEER INTERNATIONAL CORE EQUITY
FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Select Equity Fund PIONEER FOCUSED EQUITY FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Balanced Fund PIONEER CLASSIC BALANCED FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Strategic Aggressive Growth Pioneer Ibbotson Aggressive
Portfolio Allocation Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Growth Portfolio Pioneer Ibbotson Growth Allocation Fund
- --------------------------------------------------------------------------------
AmSouth Strategic Growth and Income Pioneer Ibbotson Moderate Allocation Fund
Portfolio
- --------------------------------------------------------------------------------
AmSouth Strategic Moderate Growth & Pioneer Ibbotson Moderate Allocation Fund
Income Portfolio
- --------------------------------------------------------------------------------
AmSouth High Quality Bond Fund Pioneer Bond Fund
- --------------------------------------------------------------------------------
AmSouth Government Income Fund PIONEER GOVERNMENT INCOME FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Limited Term Bond Fund Pioneer Short Term Income Fund
- --------------------------------------------------------------------------------
AmSouth High Quality Municipal Bond Pioneer Tax Free Income Fund
Fund
- --------------------------------------------------------------------------------
AmSouth Florida Tax-Exempt Fund PIONEER FLORIDA TAX FREE INCOME FUND (NEW)
- --------------------------------------------------------------------------------
AmSouth Tennessee Tax-Exempt Fund Pioneer Tax Free Income Fund
- --------------------------------------------------------------------------------
AmSouth Treasury Reserve Money PIONEER TREASURY RESERVES FUND (NEW)
Market Fund
- --------------------------------------------------------------------------------
AmSouth Prime Money Market Fund Pioneer Cash Reserves Fund
- --------------------------------------------------------------------------------
AmSouth Tax-Exempt Money Market Fund Pioneer Tax Free Money Market Fund
- --------------------------------------------------------------------------------
AmSouth Institutional Prime PIONEER INSTITUTIONAL MONEY MARKET
Obligations Money Market Fund FUND (NEW)
- --------------------------------------------------------------------------------