Pioneer Investments:


Mutual Funds
Funds Directory
Balanced / Flexible Funds
Equity Funds
International Equity Funds
Fixed Income Funds
Asset Allocation Series
Alternatives
Daily Pricing
Performance
Distributions
Historical Distributions
Morningstar Ratings
Historical Pricing
Holdings
Money Market Information
Proxy Voting
Fund Commentaries
Sector Allocations
Home Funds & Products Mutual Funds Printable Version

Pioneer International Equity Fund

Effective November 1, 2015, Pioneer International Value Fund was renamed Pioneer International Equity Fund.

Strategy

FUND STRATEGY

The fund seeks long term capital growth. Normally, the fund invests at least 80% of its total assets in equity securities of non-U.S. issuers. These issuers may be located in both developed and emerging markets. Under normal circumstances, the fund's assets will be invested in securities of companies domiciled in at least three different foreign countries.

investment style

PORTFOLIO MANAGEMENT PERSPECTIVE

"Our approach is to combine in-depth top-down analysis of the world's economic prospects with rigorous bottom-up fundamental research. This process enables us to select stocks of well-managed companies that we believe are undervalued relative to their peers and may outperform in the long term."

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. To the extent the Fund invests in issuers located within specific countries or regions, the Fund may be particularly affected by adverse markets, rates, and events which may occur in those countries and regions. When interest rates rise, the prices of fixed-income securities in the Fund will generally fall. Conversely, when interest rates fall, the prices of fixed-income securities in the Fund will generally rise. 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 May 31, 2016

ClassA SharesC SharesY Shares*
CUSIP723709101723709309723709507
Nasdaq SymbolPIIFXPCITXINVYX
Inception Date/
Performance Inception Date
3/25/19931/31/19963/25/1993
Total Net Assets (millions)$72.2$10.9$78.9
Initial Minimum Invest.$1,000$1,000$5,000,000
Management Fee0.85%0.85%0.85%
Expense Ratio (Gross)1.71%2.42%1.04%
Expense Ratio (Net)1.45%2.35%1.04%

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 4/1/2017 and 4/1/2017 for Class A and C 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 May 31, 2016

Average P/E (Trailing)21.3
Weighted Avg. Mkt. Capitalization (millions)$40,494
Median Market Capitalization (millions)$24,248
Total Holdings79
Turnover49%

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. Average P/E ratio (Forecast) is the current price of a stock divided by the estimated one year projection of its earnings per share.
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 a given period, usually a year. Mutual funds with higher turnover ratios tend to have higher expenses.


Portfolio Management


Marco Pirondini, Portfolio Manager
Mr. Pirondini, an executive vice president and Head of Equities U.S., joined Pioneer in 1991 and has been an investment professional since that time.
Madelynn Matlock, Portfolio Manager
Ms. Matlock, a senior vice president, joined Pioneer in 2012 and has been an investment professional since 1981.



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.

U.S. Home | Global Home | Site Map | Privacy | Legal | Business Continuity
Securities offered through Pioneer Funds Distributor, Inc., 60 State Street, Boston, MA. 02109. Underwriter of Pioneer mutual funds, Member SIPC © 2016 Pioneer Investments.