- Actively managed allocation of 60% equities and 40% fixedincome for long-term growth potential
- Ibbotson Associates, the Fund's subadvisor, applies a strict investment process rooted in proprietary research and extensive risk/reward analysis
- Underlying investments in Pioneer mutual funds are diversified across major asset classes, as well as a range of investment styles and market capitalizations
- Ibbotson chooses investments with low correlations to target an
attractive, efficient balance of risk vs. return; regular monitoring,
reallocation and rebalancing helps to pursue peak efficiency
Pioneer Ibbotson Asset Allocation Series is a family of four portfolio allocations managed by Ibbotson Associates, a leading authority on investing and asset allocation.
Pioneer Ibbotson Moderate Allocation Fund manager's commentary
The Fund seeks long-term capital growth and current income through investment in a mix of Pioneer mutual funds allocated across major asset classes, including U.S. equities, international equities, bonds and cash.
Pioneer Ibbotson Asset Allocation Series is a family of four portfolio allocations actively managed by Ibbotson Associates. Each portfolio is a "fund of funds" invested in a select group of Pioneer mutual funds and designed to achieve a certain objective. The Moderate Allocation Fund seeks long-term growth opportunities and current income through investment in a mix of Pioneer mutual funds allocated across major asset classes, including U.S. equities, international equities, bonds and cash.
Ibbotson's portfolio construction process seeks to optimize the trade-off between risk and return. To do this, Ibbotson ensures that each fund is properly diversified to spread your investment assets over a range of investment styles and market capitalizations. Ibbotson also chooses investments with low correlation, targeting the lowest or most efficient level of risk for the maximum level of potential return. Then, with regular rebalancing, Ibbotson increases the likelihood that each fund maintains its optimal efficiency over time.
No single asset allocation model is right for every investor. Diversification, asset allocation and portfolio rebalancing do not assure or protect against a loss.
Important: The asset allocation models are not intended as investment advice and do not take into account all of the personal investment factors that an individual should consider before making any investment decision. Before investing, consult your financial advisor regarding your financial situation.
A WORD ABOUT RISK
The Fund's performance depends on the advisor's skill in determining the strategic asset class allocations, the mix of underlying Pioneer funds, as well as the performance of those underlying funds. The underlying funds' performance may be lower than the performance of the asset class that they were selected to represent. Stocks and bonds can decline due to adverse issuer, market, regulatory, or economic developments. International markets may be less liquid and can be more volatile than U.S. markets. These risk factors, including those associated with currency exchange rates, also apply to investments in international markets, all of which make international markets more volatile and less liquid than investments in domestic markets. Some of the underlying funds can invest in either high-yield securities or small/emerging growth companies. Investments in these types of securities generally are subject to greater volatility than either higher-grade securities or more-established companies, respectively. These risks may increase share price volatility.
As of 09/30/2008
|Class||A Shares||B Shares||C Shares||Y Shares*|
|Initial Minimum Investment||$1,000||$1,000||$1,000||$5,000,000|
|Total Net Assets (millions)||$134.4||$45.2||$41.8||$12.8|
|Total Expense Ratio (Gross)||1.41%||2.26%||2.15%||1.05%|
|Total Expense Ratio (Net)||1.41%||2.24%||2.15%||1.05%|
Initial minimum investment amounts for retirement plans are lower.
Day-to-day management of the fund's portfolio is the responsibility of portfolio managers and members of Ibbotson's Investment Committee, headed by Peng Chen. Peng Chen, Ph.D., the president and chief investment officer at Ibbotson, joined the firm in 1997. Scott Wentsel, vice president and senior portfolio manager, manages the investment management team. Mr. Wentsel is also responsible for directing the firm's investment management services. Mr. Wentsel joined Ibbotson in 2005, and has over 20 years of investment industry experience. Brian Huckstep, portfolio manager, is responsible for managing the delivery of fund-of-funds programs. He joined Ibbotson in 2005.
|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.