| Highlights |
- Largecap growth fund investing in companies that management believes offer superior free cash flow growth at the right price, to help pursue longterm growth
- Strong stock selection process based on detailed fundamental and quantitative analysis, seeking growth companies with superior sales and cash flow growth, aboveaverage returns on capital, and justifiable valuations
- Dedicated management team with over 25 years of combined investment experience, supported by Pioneer's global equity research team
Pioneer Fundamental Growth Fund manager's commentary
| Strategy |
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FUND STRATEGY The Fund seeks long-term capital growth by investing primarily in the equity securities of U.S. companies that management believes have better than average growth potential. The Fund's managers employ a disciplined, bottom-up process for security identification and selection, and then apply state-of-the-art portfolio construction techniques to ensure appropriate diversification and risk levels. |  |
PORTFOLIO MANAGEMENT PERSPECTIVE
"The pursuit of under-priced stocks has as much validity in growth investing as it does in value investing. That's why we are careful to select stocks with strong free cash flow growth that has not yet been reflected in their price."
A WORD ABOUT RISK
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.
| Fund Facts |
As of April 30, 2013
| Class | A Shares | B Shares | C Shares | R Shares | Y Shares* |
| CUSIP | 723695102 | 723695201 | 723695300 | 723695508 | 723695409 |
| Nasdaq Symbol | PIGFX | FUNBX | FUNCX | PFGRX | FUNYX |
| Inception Date/ Performance Inception Date | 8/22/2002 | 12/15/2005 | 12/15/2005 | 8/22/2002 | 8/22/2002 |
| Total Net Assets (millions) | $461.7 | $3.2 | $96.4 | $2.8 | $593.4 |
| Initial Minimum Investment | $1,000 | $1,000 | $1,000 | $0 | $5,000,000 |
| Management Fee | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| Total Expense Ratio (Gross) | 1.19% | 2.29% | 1.96% | 1.50% | 0.78% |
| Total Expense Ratio (Net) | 1.09% | 2.15% | 1.96% | 1.40% | 0.78% |
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Initial minimum investment amounts for retirement plans are lower. |
| Portfolio Characteristics |
As of April 30, 2013
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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 |
Andrew Acheson, Portfolio Manager
Mr. Acheson is a senior vice president at Pioneer Investments. He joined Pioneer as a portfolio manager in 2001 and has been an investment professional since 1994.
Paul Cloonan, Portfolio Manager
Mr. Cloonan is a senior vice president and Co-Head of Equity Research-U.S. He joined Pioneer in 1997 and has been an investment professional since that time.
Effective November 1, 2012, Paul Cloonan joined Andrew Acheson as a portfolio manager of the Fund, replacing Tim Mulrenan.
| 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.