BOSTON — Pioneer Investment Management Inc. will start an international value fund that it will manage jointly with Mercury Advisors, a unit of Merrill Lynch Investment Management.

The Pioneer Global Value Fund portfolio, which is scheduled to open Sept. 28, would be the first to be co-managed by Pioneer and Mercury. The plan was announced Thursday.

Pioneer and its Dublin-based Pioneer Investment Management Ltd. were managing $95 billion of assets, including $19 billion for U.S. investors, on June 30.

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