Pioneer Fund is an international equity fund with a focus on European companies. Pioneer has a net asset value of $$21\mathrm{.}62$ and is offered for sale by the pioneer family of funds for $$23\mathrm{.}00.$ Which of the following is least likely to be accurate?

Pioneer is a closed$-$end fund selling at a discount.

Pioneer shareholders can reasonably expect to receive dividends and capital gains distributions.

Pioneer is a front$-$loaded equity fund.

Pioneer is likely to exclude companies headquartered in the U$.$S$.$