Pioneer Investments has extended its Iberian reach with the launch of eight funds in Portugal. The funds mark the entry of the fund firm into the Portuguese market.

According to a news release, Pioneer will initially partner with Banco Best, part of the Banco Espirito Santo Banking Group, to distribute the eight sub-funds. Pioneer plans to introduce more funds and develop a "small number" of partnerships to distribute the funds.

"Our strategy for Portugal is similar to that for Spain where we have built a successful business by building strong partnerships with a select number of financial institutions, institutional and retail," said Jose Castellano, head of sales and distribution for Iberian Markets at Pioneer.

The funds include: Euro Bonds, Euro Corporate Bond, Euro Strategic Bond, Global High Yield, Strategic Income, Top European Players, U.S. High Yield Corporate Bond and U.S. Mid Cap Value.

“The Iberian region is crucial for our international strategy and Portugal is a natural development to leverage on our success in Spain. Our success has been due to our commitment to partner with high quality distributors and provide them with best in class service and superior performance," said Matteo Perruccio, global head of sales and distribution.  

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