- Actively managed large-cap equity fund focused on high quality stocks of well established companies
- Long-term value-oriented, risk-managed investment approach since 1928
- Consistent portfolio management. John Carey, an industry veteran for over 30 years and 4th manager in the Fund's 80+ year history, has managed the fund since 1986
- Impressive long-term track record; historically low portfolio turnover under 25% since 1996
- Socially responsible tradition of trying to avoid the stocks of companies whose primary business is alcohol or tobacco
Pioneer Fund manager's commentary
The Fund seeks reasonable income and capital growth by investing primarily in the equity securities of U.S. companies. The Fund diversifies across all sectors of the S&P 500® Index using an actively managed, bottom-up approach that seeks under-valued, high quality stocks of well established companies in well established businesses.
PORTFOLIO MANAGEMENT PERSPECTIVE
"We are long-term investors in high-quality large-cap companies. We invest in companies with attractive long-term growth and income potential at points in time when their stocks are temporarily out of favor, possibly profiting both from the market's subsequently recognizing their value and the companies' own ability to create shareholder value."
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. These risks may increase share price volatility.
As of September 30, 2014
|Class||A Shares||B Shares||C Shares||R Shares||Y Shares*|
Performance Inception Date
|Total Net Assets (millions)||$4,636.8||$21.5||$155.8||$68.5||$289.0|
|Initial Minimum Investment||$1,000||$1,000||$1,000||$0||$5,000,000|
|Gross Expense Ratio||0.97%||2.24%||1.74%||1.34%||0.63%|
Initial minimum investment amounts for retirement plans are lower.
As of September 30, 2014
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.
John A. Carey, Portfolio Manager
Mr. Carey is an executive vice president at Pioneer. He joined Pioneer as an analyst in 1979.
Walter Hunnewell, Jr., Portfolio Manager
Mr. Hunnewell is a vice president at Pioneer. He joined the company in August 2001 and has been an investment professional since 1985.
|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.