Fund Company

Pioneer Asset Management S.A. - http://www.pioneerinvestments.de

Pioneer Investments is a global investment manager dedicated to growing and preserving client assets, founded in 1928. Pioneer Investments has a history few asset management companies can match. Their flagship, Pioneer Fund, which celebrated its 80th anniversary on 13 February 2008, is the third oldest mutual fund in the United States. It has not only weathered volatile market conditions, but has outperformed common stocks, long term bonds, US Treasury Bills and inflation since its foundation in 1928.

Innovation is part of their heritage. At the forefront of the establishment of the modern US mutual fund industry, Pioneer Investments is an industry leader in the development of this market in Europe being the first asset management company to launch investment funds in Italy, first in Germany to register US mutual funds under the Foreign Investments Act, and first to distribute open-ended investment funds in Poland. In 2002 they acquired the Momentum Group, which in keeping with Pioneer Investments’ tradition of innovation, is one of the founders of the funds of hedge funds industry.

In October 2000, UniCredito Italiano S.p.A. (now UniCredit Group) completed its acquisition of the Pioneer Group, Inc., further bolstering the capabilities of its asset management operations in Milan and Dublin. Following the consolidation of these powerful investment houses Pioneer Investments has strengthened its position further, helped by the 2006 merger of UCI and HypoVereinsbank, and by expanding its global reach into new markets.

Pioneer Investments provides a wide range of investment solutions including mutual funds, alternative investments and structured products to clients that include institutions, corporations, intermediaries and private investors around the world. Pioneer has investment centres in Boston, Dublin and London, supported by local centres worldwide that manage assets worth €156 billion as at 31 March 2012. Headquartered in Milan, Pioneer Investments has a presence in 26 countries around the world.

Their investment process is active, bottom-up and research-driven, based upon the principles of fundamental investing that Pioneer Investments has used since 1928. Their fundamental equity research is bottom-up, with 90% generated internally by their equity research analysts 46 equity analysts operating from our main US, European and Asian investment hubs visit over 3,000 companies each year.

This approach enables Pioneer Investments to make informed judgements about how industries and companies have operated in the past, about their future behaviour and about the effects of these variables on stock prices. Pioneer add a strong quantitative discipline to this process, which supports the work of fundamental analysts and keeps a close check on the investment risks for our funds. Their activities are driven by client satisfaction where the main aim is to deliver quality products and solutions to match the investment requirements of their clients and ensure their service is shaped to meet the client's needs. A diverse range of products is offered across both traditional and non traditional asset classes, managed by their global investment centres in Boston, Dublin, London and their local investments center across the regions.

Today, Pioneer Investments has a presence in 26 countries worldwide and an experienced team of 2,000 employees globally, of which over 320 are investment professionals.

Some facts regarding Pioneer Investments are listed below

Assets under management of €154 billion as at 30 June 2012
A presence in 26 countries worldwide
Global Investment hubs in Boston, Dublin and London
An experienced team of over 2,000 employees globally, of which almost 320 are investment professionals
Strong parentage with UniCredit, a major international financial institution with strong roots in 22 European countries.

Company	Fund Name	ISIN	Currency	Inception Date	Rating	Risk	Profile
Pioneer Asset Management S.A.	Pioneer Investments Chance Cap	LU0047059042	EUR	15/10/1993	3	Medium	The main objective of the investment policy is to generate attractive capital growth while maintaining an overall opportunity-oriented structure. The primary instruments of the investment policy are international equity funds, whose weighting as a rule may not be less than 75%, as well as funds that make equity-related investments, balanced equity funds, money-market funds and bond funds, which fund management may use flexibly in accordance with how it views the market. Country, region, sector and theme funds may also be acquired.
Pioneer Asset Management S.A.	Pioneer Funds-Core European Eqty E	LU0085424579	EUR	13/03/1998	4	Low	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Europe.
Pioneer Asset Management S.A.	Pioneer Fund - Italian Equity A Cap	LU0119335304	EUR	18/12/2000	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Italy.
Pioneer Asset Management S.A.	Pioneer Emerg. Europe & Med. Eq Cap	LU0119336021	EUR	18/12/2000	4	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in developing European countries, as well as countries in and around the Mediterranean basin.
Pioneer Asset Management S.A.	Pioneer Fund-Euroland Equity A Cap	LU0119345287	EUR	18/12/2000	4	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing at least 75% of its assets in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Member States of the EU which have adopted the euro as their national currency.
Pioneer Asset Management S.A.	Pioneer Fds-Core European Eqty A Cp	LU0119364239	EUR	18/12/2000	4	Low	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Europe.
Pioneer Asset Management S.A.	Pioneer Fd-Em Mkt Eqty Growth A Cap	LU0119365988	EUR	18/12/2000	1	High	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in countries considered to be Emerging Markets. The Sub-Fund has maximum flexibility to invest in any geographical region. There is no restriction on the proportion of the Sub-Fund's assets that can be invested in any one geographical region.
Pioneer Asset Management S.A.	Pioneer Fund-Europe Research A Cap	LU0119366440	EUR	18/12/2000	3	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Europe. The investment process is driven by fundamental and quantitative research.
Pioneer Asset Management S.A.	Pioneer Fd-Top Europe Players A Cap	LU0119366952	EUR	18/12/2000	3	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a portfolio of equities and equity-linked instruments issued by mid and large cap companies incorporated, headquartered or having their principal business activities in Europe. This Sub-Fund is not sector specific and can invest in a broad range of sectors and industries. It seeks to add value by investing in a concentrated range of opportunities identified as attractive based on company fundamentals.
Pioneer Asset Management S.A.	Pioneer Fund - US Research A Cap	LU0119372174	EUR	18/12/2000	4	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in the U.S.A. The investment process is driven by fundamental research.
Pioneer Asset Management S.A.	Pioneer Fund-Japanese Equity A Cap	LU0119372687	EUR	18/12/2000	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Japan.
Pioneer Asset Management S.A.	Pioneer Asia(Ex Japan) Equity A Cap	LU0119373065	EUR	18/12/2000	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in the Asia region (excluding Japan).
Pioneer Asset Management S.A.	Pioneer Fund - Em Mkts Eur Bd A Cap	LU0119402005	EUR	18/12/2000	2	High	This Sub-Fund seeks to achieve capital appreciation and income over the medium to long-term by investing primarily in a diversified portfolio of U.S. dollar and other OECD denominated debt and debt-related instruments issued by companies incorporated, headquartered or having their principal business activities in Emerging Markets or debt and debt-related instruments where the credit risk of such instruments is linked to Emerging Markets. The currency exposure to such Emerging Markets shall not exceed 25% of the Sub-Fund’s assets. The Sub-Fund may invest up to 25% of its assets in bonds cum warrants and up to 5% in equities and equity-linked instruments.
Pioneer Asset Management S.A.	Pioneer Fund US High Yield A Cap	LU0119402427	EUR	18/12/2000	3	High	This Sub-Fund seeks to achieve capital appreciation and income by investing at least 70% of its assets in sub-Investment Grade debt and debt-related instruments including mortgage-related and asset backed securities and convertible securities, and in preferred stocks of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund may invest: (i) up to 30% of its assets in Instruments of Canadian issuers; (ii) up to 15% of its assets in Instruments of non-U.S.A. and non-Canadian issuers, including Emerging Markets issuers; (iii) in cash and Money Market Instruments; (iv) in Investment Grade debt and debt-related instruments; and (v) on an ancillary basis, in equity and equity-linked instruments.
Pioneer Asset Management S.A.	Pioneer Fd-American Short-Term A Cp	LU0119403581	EUR	18/12/2000	3	High	This Sub-Fund seeks to provide income and maintain value over the short to medium-term by investing primarily in U.S. dollar denominated debt and debt-related instruments or debt and debt-related instruments denominated in another freely convertible currency provided the underlying foreign exchange risk is principally hedged back to U.S. dollars. The total average interest rate duration of the Sub-Fund (including cash and Money Market Instruments) shall not be longer than 12 months.
Pioneer Asset Management S.A.	Pioneer Fd US Dollar Short Term Cap	LU0132162586	USD	02/05/2002	3	Medium	This Sub-Fund seeks to provide income and maintain value over the short to medium-term by investing primarily in U.S. dollar denominated debt and debt-related instruments or debt and debt-related instruments denominated in another freely convertible currency provided the underlying foreign exchange risk is principally hedged back to U.S. dollars. The total average interest rate duration of the Sub-Fund (including cash and Money Market Instruments) shall not be longer than 12 months.
Pioneer Asset Management S.A.	Pioneer Em Europe and Medit Eq Cap	LU0132177006	USD	27/12/2001	4	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in developing European countries, as well as countries in and around the Mediterranean basin.
Pioneer Asset Management S.A.	Pioneer Fd Emerg Markets Eq A Cap	LU0132178079	USD	27/12/2001	1	High	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in countries considered to be Emerging Markets. The Sub-Fund has maximum flexibility to invest in any geographical region. There is no restriction on the proportion of the Sub-Fund's assets that can be invested in any one geographical region.
Pioneer Asset Management S.A.	Pioneer Fund-US Mid Cap Value A Cap	LU0133605377	USD	30/11/2001	2	Low	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund invests in securities with market values, at the time of investment, that do not exceed the greater of the market capitalisation of the largest company within the Russell Midcap Value Index or the 3-year rolling average of the market capitalisation of the largest company within the Russell Midcap Value Index as measured at the end of the preceding month, and are not less than the smallest company within the index.
Pioneer Asset Management S.A.	Pioneer Fund-US Mid Cap Value A Cap	LU0133607589	EUR	29/11/2001	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund invests in securities with market values, at the time of investment, that do not exceed the greater of the market capitalisation of the largest company within the Russell Midcap Value Index or the 3-year rolling average of the market capitalisation of the largest company within the Russell Midcap Value Index as measured at the end of the preceding month, and are not less than the smallest company within the index.
Pioneer Asset Management S.A.	Pioneer Funds-U.S. Pioneer A$ CAP	LU0133642578	USD	11/12/2001	3	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. This Sub-Fund uses methods developed by the Investment Manager since 1928 to invest in a diversified portfolio of carefully selected securities issued by companies which do not necessarily aim to achieve above average earnings and revenue growth but whose securities nevertheless reflect a certain premium. Using these methods, the Investment Manager identifies securities with reasonable current prices relative to expected future values and consistently maintains these holdings until these expectations are realised.
Pioneer Asset Management S.A.	Pioneer Fund - US Pioneer Fd Cap	LU0133643469	EUR	29/10/2001	3	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. This Sub-Fund uses methods developed by the Investment Manager since 1928 to invest in a diversified portfolio of carefully selected securities issued by companies which do not necessarily aim to achieve above average earnings and revenue growth but whose securities nevertheless reflect a certain premium. Using these methods, the Investment Manager identifies securities with reasonable current prices relative to expected future values and consistently maintains these holdings until these expectations are realised.
Pioneer Asset Management S.A.	Pioneer China Equity A Cap	LU0133656446	EUR	29/11/2001	3	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in People’s Republic of China and listed in People’s Republic of China or Hong Kong.
Pioneer Asset Management S.A.	Pioneer Fds Strategic Inc A Eur Cap	LU0162480882	EUR	04/04/2003	4	Medium	This Sub-Fund seeks to provide a high level of current income in the medium to long term by investing at least 80% of its assets in debt and debt-related instruments including mortgage-related and asset-backed securities. The Sub-Fund has the flexibility to invest in a broad range of issuers and segments of debt markets denominated in any currency. Foreign exchange risk may be hedged back to U.S. dollars or euro. The Sub-Fund may hold a position in any non-USD currency in connection with its investments, including as a means of managing relative currency exposure.
Pioneer Asset Management S.A.	Pioneer Funds Strat.Income Fds Cap	LU0182234491	EUR	13/02/2004	4	High	This Sub-Fund seeks to provide a high level of current income in the medium to long term by investing at least 80% of its assets in debt and debt-related instruments including mortgage-related and asset-backed securities. The Sub-Fund has the flexibility to invest in a broad range of issuers and segments of debt markets denominated in any currency. Foreign exchange risk may be hedged back to U.S. dollars or euro. The Sub-Fund may hold a position in any non-USD currency in connection with its investments, including as a means of managing relative currency exposure.
Pioneer Asset Management S.A.	Pioneer Funds Glo High Yield A Cap	LU0190649722	EUR	18/06/2004	2	High	This Sub-Fund seeks to achieve capital appreciation and income by investing primarily in sub-Investment Grade debt and debt-related instruments of governmental and corporate issuers worldwide. At least 80% of the Sub-Fund’s assets will normally be invested in sub-Investment Grade debt and debt-related instruments and preferred stocks. The debt and debt-related instruments in which the Sub-Fund may invest include mortgage-related and asset-backed securities and convertible bonds. The Sub-Fund may invest in instruments having a broad range of maturities and countries of issue. The portfolio of the Sub-Fund shall consist of securities of governmental or corporate issuers located in at least three countries.
Pioneer Asset Management S.A.	Pioneer Fds Eur Strategic Bd A Cap	LU0190665769	EUR	29/10/2004	4	High	This Sub-Fund seeks to achieve capital appreciation and income over the medium to long-term by investing primarily in a diversified portfolio of euro denominated debt and debt-related instruments, cash and Money Market Instruments. Up to 90% of the Sub-Fund’s assets may be invested in debt and debt-related instruments rated as sub-Investment Grade at the time of purchase. The Sub-Fund may also invest in governmental and corporate issues in Emerging Markets. Up to 20% of the Sub-Fund’s assets may be invested in debt and debt-related instruments rated at the time of purchase below CCC by Standard & Poor’s or the equivalent by another internationally recognised securities rating organisation or deemed by the Investment Manager to be of equivalent credit quality.
Pioneer Asset Management S.A.	Pioneer Fd - Us Mid/Cap Value A Cap	LU0201722401	EUR	22/11/2004	2	High	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund invests in securities with market values, at the time of investment, that do not exceed the greater of the market capitalisation of the largest company within the Russell Midcap Value Index or the 3-year rolling average of the market capitalisation of the largest company within the Russell Midcap Value Index as measured at the end of the preceding month, and are not less than the smallest company within the index.
Pioneer Asset Management S.A.	Pioneer Fd North American EUR A Cap	LU0229387385	EUR	27/02/2006	4	Low	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in North America. The Sub-Fund uses a “value” style of management and seeks to invest in a diversified portfolio of securities selling at reasonable prices or at discounts to their intrinsic values. The Sub-Fund may invest up to 30% of its assets in the securities of non-North American issuers, including up to 10% in Emerging Markets.
Pioneer Asset Management S.A.	Pioneer Fd North Amer Basic Val Cap	LU0229387542	USD	17/03/2006	4	Low	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in North America. The Sub-Fund uses a “value” style of management and seeks to invest in a diversified portfolio of securities selling at reasonable prices or at discounts to their intrinsic values. The Sub-Fund may invest up to 30% of its assets in the securities of non-North American issuers, including up to 10% in Emerging Markets.
Pioneer Asset Management S.A.	Pioneer Fd North Amer Bas Val A Cap	LU0271260902	EUR	10/11/2006	2	High	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in North America. The Sub-Fund uses a “value” style of management and seeks to invest in a diversified portfolio of securities selling at reasonable prices or at discounts to their intrinsic values. The Sub-Fund may invest up to 30% of its assets in the securities of non-North American issuers, including up to 10% in Emerging Markets.
Pioneer Asset Management S.A.	Pioneer Fd Global Select A Cap	LU0271651761	EUR	25/06/2001	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies worldwide. This Sub-Fund is not sector specific and can invest in a broad range of sectors and industries. It seeks to add value by investing in a range of opportunities identified as being attractive based on company fundamentals. The Sub-Fund may use financial derivative instruments to manage currency, country and market exposure.
Pioneer Asset Management S.A.	Pioneer Fd Global Ecology A Cap	LU0271656133	EUR	30/04/1990	4	Medium	The objective of this Sub-Fund is to achieve capital appreciation over the medium to long-term by investing at least two-thirds of its total assets in a diversified portfolio of equities and equity-linked instruments issued by companies manufacturing or producing environmentally friendly products or technologies or that contribute towards the development of a cleaner and healthier environment and having their registered office or exercising a preponderant part of their economic activities in any country of the world. Such companies include those operating in the fields of air pollution control, alternative energy, recycling, waste incineration, waste water treatment, water purification and biotechnology.
Pioneer Asset Management S.A.	Pioneer Eu Potent - Units -A- Cap	LU0271656307	EUR	08/02/1999	4	High	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by small cap companies incorporated, headquartered or having their principal business activities in Europe. The Sub-Fund defines small cap companies as those which, at the time of purchase, are within the market capitalization range of the MSCI Europe Small Companies Index. The Sub-Fund seeks to add value by investing in a diversified range of opportunities identified as attractive based on company fundamentals.
Pioneer Asset Management S.A.	Pioneer S.F. EUR Commodities A Cap	LU0271695388	EUR	12/04/2005	NULL	NULL	The objective of the Fund is generally to track, with currency adjustment, the performance of a representative commodity index. The Sub-Fund’s performance will have similar characteristics as those of the benchmark (yield and volatility) translated into euro. A representative benchmark index (e.g. the Dow Jones-AIG Commodity Index) is typically based on forward contract prices for commodities (market traded goods and raw materials) from the energy, agriculture, livestock and industrial metals sectors, for instance.
Pioneer Asset Management S.A.	Pioneer P.F. Global Defens 20 A Cap	LU0271869470	EUR	18/12/2000	3	Medium	This Sub-Fund seeks to achieve capital appreciation and income over the medium to longterm by investing in a diversified portfolio of the permissible instruments described below. The Sub-Fund will normally invest 20% and not more than 30% of its assets in equities and equity-linked instruments. The Sub-Fund invests primarily in open-ended UCIs and UCITS, equities and equity-linked instruments, Money-Market Instruments, debt and debt-related instruments (including convertible bonds and bonds cum warrants), deposits subject to call with a maximum term of 12 months, and interest-rate certificates. The Sub-Fund may also invest up to 15% of its assets in eligible commodity-index certificates.
Pioneer Asset Management S.A.	Pioneer Fund - Em Mkts Eur Bd A DIS	LU0274704161	EUR	30/03/2007	2	High	This Sub-Fund seeks to achieve capital appreciation and income over the medium to long-term by investing primarily in a diversified portfolio of U.S. dollar and other OECD denominated debt and debt-related instruments issued by companies incorporated, headquartered or having their principal business activities in Emerging Markets or debt and debt-related instruments where the credit risk of such instruments is linked to Emerging Markets. The currency exposure to such Emerging Markets shall not exceed 25% of the Sub-Fund’s assets. The Sub-Fund may invest up to 25% of its assets in bonds cum warrants and up to 5% in equities and equity-linked instruments.
Pioneer Asset Management S.A.	Pioneer Funds Euro Cash Plus A Cap	LU0275636784	EUR	09/06/2008	3	Medium	This Sub-Fund seeks to achieve capital appreciation and income consistent with maintaining capital over the short to medium-term by investing at least 75% of its assets in a diversified portfolio of debt and debt-related instruments that are denominated in euro as well as Money Market Instruments. The Sub-Fund may invest up to 25% of its assets in debt and debt-related instruments denominated in other freely convertible currencies. No more than 5% will be invested in sub-Investment Grade debt and debt-related instruments. The total average interest rate duration of the Sub-Fund (including cash and Money Market Instruments) shall not be longer than 12 months.
Pioneer Asset Management S.A.	Pioneer Euro Strategic Bd A EUR Dis	LU0281577899	EUR	10/12/2010	NULL	NULL	This Sub-Fund seeks to achieve capital appreciation and income over the medium to long-term by investing primarily in a diversified portfolio of euro denominated debt and debt-related instruments, cash and Money Market Instruments. Up to 90% of the Sub-Fund’s assets may be invested in debt and debt-related instruments rated as sub-Investment Grade at the time of purchase. The Sub-Fund may also invest in governmental and corporate issues in Emerging Markets. Up to 20% of the Sub-Fund’s assets may be invested in debt and debt-related instruments rated at the time of purchase below CCC by Standard & Poor’s or the equivalent by another internationally recognised securities rating organisation or deemed by the Investment Manager to be of equivalent credit quality.
Pioneer Asset Management S.A.	Pioneer Fds Gl Ecology A USD ND Cap	LU0302740245	USD	28/06/2007	3	Medium	The objective of this Sub-Fund is to achieve capital appreciation over the medium to long-term by investing at least two-thirds of its total assets in a diversified portfolio of equities and equity-linked instruments issued by companies manufacturing or producing environmentally friendly products or technologies or that contribute towards the development of a cleaner and healthier environment and having their registered office or exercising a preponderant part of their economic activities in any country of the world. Such companies include those operating in the fields of air pollution control, alternative energy, recycling, waste incineration, waste water treatment, water purification and biotechnology.
Pioneer Asset Management S.A.	Pioneer Fds Commodity Alpha A Cap	LU0313643024	EUR	21/02/2008	NULL	NULL	The Sub-Fund is suitable for individual investors who wish to participate in commodity markets. The Sub-Fund may be most appropriate for investors with a medium to long-term investment horizon, as losses may occur due to market fluctuations. The Sub-Fund may be suitable as a core position in a portfolio.
Pioneer Asset Management S.A.	Pioneer Fd Com Alpha A EUR Hedg Cap	LU0313643370	EUR	03/04/2008	NULL	NULL	The Sub-Fund is suitable for individual investors who wish to participate in commodity markets. The Sub-Fund may be most appropriate for investors with a medium to long-term investment horizon, as losses may occur due to market fluctuations. The Sub-Fund may be suitable as a core position in a portfolio.
Pioneer Asset Management S.A.	Pioneer Fds Euro Aggregate Bond Dis	LU0313644857	EUR	12/12/2008	4	High	This Sub-Fund seeks to achieve capital appreciation and income over the medium to long-term by investing primarily in a diversified portfolio consisting of Investment Grade debt and debt-related instruments denominated in euro. The Sub-Fund pursues an active and flexible allocation to different segments of the fixed income markets investing in a broad range of issuers of the debt markets, including but not limited to, governmental issuers, supranational bodies, local authorities, international public bodies and corporate issuers incorporated, headquartered or having their principal business activities in Europe. The Sub-Fund will not invest in equities and equity-linked instruments or convertible securities.
Pioneer Asset Management S.A.	Pioneer Fds Glob Aggregate Bd A Cap	LU0313646472	EUR	13/02/2008	3	Medium	This Sub-Fund seeks to achieve capital appreciation and income over the medium to long-term by investing primarily in a diversified portfolio consisting of Investment Grade debt and debt-related instruments denominated in any currency of any member state of the OECD or in other freely convertible currencies. The Sub-Fund pursues an active and flexible allocation to different segments of the fixed income markets investing in a broad range of issuers of the debt markets, including but not limited to, governmental issuers, supranational bodies, local authorities, international public bodies and corporate issuers incorporated, headquartered or having their principal business activities worldwide.
Pioneer Asset Management S.A.	Pioneer Funds Latin Americ A ND Cap	LU0313649492	EUR	25/07/2008	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in Latin American countries.
Pioneer Asset Management S.A.	Pioneer Fds US Research Value A Cap	LU0353247553	EUR	12/12/2008	3	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund uses a “value” style of management and seeks to invest in a diversified portfolio of securities selling at reasonable prices or at discounts to their intrinsic values. The investment process is driven by fundamental and quantitative research.
Pioneer Asset Management S.A.	Pioneer US Fundamental Growth A Cap	LU0353248106	EUR	12/12/2008	5	Low	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund uses a “growth” style of management and seeks to invest in issuers with above average potential for earnings growth. The investment process is driven by fundamental research.
Pioneer Asset Management S.A.	Pioneer Global Changes A Cap	LU0360560022	EUR	10/06/2008	4	High	The Sub-Fund will focus its investments on equities and equity-linked instruments, with the possibility to invest up to 100% of its assets in this type of asset. The Sub-Fund invests primarily in open-ended UCIs and UCITS, equities and equity-linked instruments, Money-Market Instruments, debt and debt-related instruments (including convertible bonds and bonds cum warrants), deposits subject to call with a maximum term of 12 months, and interest-rate certificates. The Sub-Fund may also invest up to 15% of its assets in eligible commodity-index certificates.
Pioneer Asset Management S.A.	Pioneer Abs Ret Mul-St Grth A Cap	LU0363629790	EUR	08/07/2008	NULL	NULL	This Sub-Fund seeks to achieve a positive return in all market conditions by investing primarily in a diversified portfolio consisting of equities and equity-linked instruments as well as of any type of debt and debt-related instruments issued by both governmental and non-governmental issuers. The Sub-Fund may invest up to 100% of its assets in equities and equity-linked instruments as well as up to 25% of its assets in convertible bonds. The Sub-Fund will invest primarily in assets denominated in euro, other European currencies, U.S. dollars and Japanese yen. The Sub-Fund may invest in Emerging Markets.
Pioneer Asset Management S.A.	Pioneer Absolute Return Bond A Cap	LU0363630376	EUR	12/12/2008	NULL	NULL	This Sub-Fund seeks to achieve a positive return in all market conditions by investing primarily in a diversified portfolio consisting of any type of money market instruments and debt and debt-related instruments. The Sub-Fund seeks positive returns through an active and flexible allocation to different segments of the fixed income markets investing in a broad range of issuers of the debt markets, including but not limited to, governmental issuers, supranational bodies, local authorities, international public bodies and corporate issuers incorporated, headquartered or having their principal business activities worldwide. The Sub-Fund may take long and short positions through financial derivative instruments. The Sub-Fund may invest in sub-Investment Grade debt and debt-related instruments up to 25% of its assets and in convertible bonds up to 25%.
Pioneer Asset Management S.A.	Pioneer Funds Indian Eq A ND Cap	LU0363632075	EUR	21/07/2008	2	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a portfolio of equities and equity-linked instruments issued by companies incorporated, headquartered or having their principal business activities in India.
Pioneer Asset Management S.A.	Pioneer Abs Ret Mul-Strat Gr A Dis	LU0372178326	EUR	12/12/2008	NULL	NULL	This Sub-Fund seeks to achieve a positive return in all market conditions by investing primarily in a diversified portfolio consisting of equities and equity-linked instruments as well as of any type of debt and debt-related instruments issued by both governmental and non-governmental issuers. The Sub-Fund may invest up to 100% of its assets in equities and equity-linked instruments as well as up to 25% of its assets in convertible bonds. The Sub-Fund will invest primarily in assets denominated in euro, other European currencies, U.S. dollars and Japanese yen. The Sub-Fund may invest in Emerging Markets.
Pioneer Asset Management S.A.	Pioneer Fds US Mid Cap Value A Dis	LU0372179308	EUR	12/12/2008	1	Medium	This Sub-Fund seeks to achieve capital appreciation over the medium to long-term by investing primarily in a diversified portfolio of equities and equity-linked instruments of issuers incorporated, headquartered or having their principal business activities in the U.S.A. The Sub-Fund invests in securities with market values, at the time of investment, that do not exceed the greater of the market capitalisation of the largest company within the Russell Midcap Value Index or the 3-year rolling average of the market capitalisation of the largest company within the Russell Midcap Value Index as measured at the end of the preceding month, and are not less than the smallest company within the index.
Pioneer Asset Management S.A.	Pioneer S.F. Strat Port Chance Dis	LU0374244639	EUR	12/12/2008	1	High	The Sub-Fund may hold up to 100% of its assets in equities and equity-linked instruments. The Sub-Fund invests primarily in open-ended UCIs and UCITS, equities and equity-linked instruments, Money-Market Instruments, debt and debt-related instruments (including convertible bonds and bonds cum warrants), deposits subject to call with a maximum term of 12 months, interest-rate certificates, and equity and equity-index certificates. The Sub-Fund may invest up to 15% of its assets in eligible commodity-index certificates.
Pioneer Asset Management S.A.	Pioneer Pacific Ex Japan Eq Mkt Cap	LU0380934876	EUR	10/12/2010	NULL	NULL	The objective of this Sub-Fund is to achieve capital appreciation over the medium to long-term by investing at least two-thirds of its total assets in a diversified portfolio of equities, equity-linked instruments and other participation rights which qualify as Transferable Securities issued by companies which have their registered office in the Pacific basin (excluding Japan), or which exercise a preponderant part of their economic activities in such region.