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Pioneer Global Equity Fund

Highlights

  • Management uses a top-down, bottom-up investment approach to select their best 40-60 global investment ideas in developed and emerging markets

  • Emphasis on quality companies with strong balance sheets, strong cash flow, excellent management and reasonable growth prospects trading at attractive valuations

  • Portfolio Manager Marco Pirondini has over 20 years of investment experience as a portfolio manager, equity analyst and manager. He is supported by Pioneer's global equity management and research teams.


Strategy

FUND STRATEGY

The fund seeks long term capital growth. Normally, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities of issuers located throughout the world. The fund's principal focus is on companies that exhibit solid fundamental characteristics and are underappreciated by the market. The fund may invest in both developed and emerging markets without limit. Normally, the fund invests at least 40% of its net assets in issuers located outside of the United States.

investment style

PORTFOLIO MANAGEMENT PERSPECTIVE

"We examine mid- and large-capitalization stocks in more than 30 countries, including those in emerging markets. From that universe, we aim to build a portfolio combining a value and growth at a reasonable price (GARP) approach."

A WORD ABOUT RISK

Investing in foreign and/or emerging market securities involves risks relating to interest rates, currency exchange rates, economic, and political conditions. Investments in mid-sized companies may offer the potential for higher returns, but are also subject to greater short-term price fluctuations than larger, more established companies. The Fund invests in a limited number of securities and, as a result, the Fund's performance may be more volatile than the performance of other funds holding more securities. At times, the Fund's investments may represent industries or industry sectors that are interrelated or have common risks, making it more susceptible to any economic, political, or regulatory developments or other risks affecting those industries and sectors. These risks may increase share price volatility.


Fund Facts

As of September 30, 2014

ClassA SharesB SharesC SharesY Shares*
CUSIP72387N70572387N80472387N88772387N788
Nasdaq SymbolGLOSXGBSLXGCSLXPGSYX
Inception Date/
Performance Inception Date
12/15/200512/15/200512/15/200512/15/2005
Total Net Assets (millions)$75.5$1.9$8.6$69.9
Initial Minimum Investment$1,000$1,000$1,000$5,000,000
Management Fee0.75%0.75%0.75%0.75%
Expense Ratio (Gross)1.69%3.24%2.53%1.02%
Expense Ratio (Net)1.32%2.22%2.22%0.82%

Initial minimum investment amounts for retirement plans are lower.
*Class Y shares are not subject to sales charges and are available for limited groups of investors, including institutional investors.
The Net Expense ratio reflects contractual expense limitations currently in effect through 1/1/2015, 1/1/2015, 1/1/2015 and 1/1/2015 for Class A, B, C and Y Shares, respectively. There can be no assurance that Pioneer will extend the expense limitations beyond such time. Please see the prospectus and financial statements for more information.


Portfolio Characteristics

As of September 30, 2014

Average P/E (Trailing)22.4
Weighted Avg. Mkt. Capitalization (millions)$88,697
Median Market Capitalization (millions)$26,821
Total Holdings91
Turnover133%

P/E refers to the price of a stock divided by its earnings per share. Reflects weighted average of trailing 12-month price-to-earnings ratios of portfolio holdings.
Market Capitalization reflects the total U.S.-denominated portion of the portfolio.
Turnover Ratio is the percentage of a fund's assets that have changed over the course of a given time period, usually a year. Mutual funds with higher turnover ratios tend to have higher expenses.


Portfolio Management


Marco Pirondini, Portfolio Manager
Mr. Pirondini, executive vice president and Head of Equities, U.S., joined Pioneer in 2000. From 2004 through 2010, he was Global Chief Investment Officer of Pioneer Investments, overseeing equity, fixed income, balanced and quantitative portfolio management, and also quantitative and fundamental research divisions.
David Glazer, Portfolio Manager
Mr. Glazer, a vice president at Pioneer, has served as portfolio manager of the fund since December 2012. Prior to joining Pioneer, he served as Vice President, Senior Analyst and Co-Portfolio Manager at Franklin Templeton Global Advisers from 2005 until 2012, specializing in global and international small/mid-capitalization strategies.



Not FDIC insured May lose value No bank guarantee

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus and for information on any Pioneer fund, please download from our web site.

Neither Pioneer, nor its representatives, are legal or tax advisors. In addition, Pioneer does not provide advice or recommendations. The investments you choose should correspond to your needs, goals, and risk tolerance. For assistance in determining your financial situation, please consult an investment professional.

 
 

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it here.

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