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.
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.
As of December 31, 2015
|Class||A Shares||C Shares||Y Shares*|
Performance Inception Date
|Total Net Assets (millions)||$75.2||$11.8||$81.1|
|Initial Minimum Invest.||$1,000||$1,000||$5,000,000|
|Expense Ratio (Gross)||1.70%||2.44%||1.06%|
|Expense Ratio (Net)||1.45%||2.35%||1.06%|
Initial minimum investment amounts for retirement plans are lower.
As of December 31, 2015
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.
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.