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Pioneer Announces Launch of Four New Equity Funds -- 3 Global Sector Funds and a Focused European Fund.



Business Editors

BOSTON--(BUSINESS WIRE)--Feb. 14, 2001

Pioneer Investment Management, Inc. has launched four new stock funds: Pioneer Europe Select Fund, Pioneer Global Financials Fund, Pioneer Global Health Care Fund, and Pioneer Global Telecoms Fund, all available as of January 2, 2001. Pioneer's new funds offer investors the opportunity to invest in specific global regions and industry sectors, and are designed to help investors meet diversification Diversification

A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance.

Notes:
Diversification is possibly the greatest way to reduce the risk.
 goals in their overall portfolio.

All of the new funds take a bottom-up investment approach, with the Europe Select Fund focusing on those companies which exhibit proven profitability in their sector, excellent corporate management, and strong development potential over the immediate and longer term. The three global sector funds use Pioneer's fundamental and quantitative research Quantitative research

Use of advanced econometric and mathematical valuation models to identify the firms with the best possible prospectives. Antithesis of qualitative research.
 in each specific sector.

"Pioneer's new global sector funds represent the most dynamic industries in markets with outstanding long-term potential," said Steven Graziano, president, Pioneer Funds Distributor, Inc. "Pioneer's worldwide presence will help us capitalize on Cap´i`tal`ize on`   

v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>.
 the global trends in those industries. With the European portfolio, we believe our presence in Europe provides us with a unique opportunity to target those companies with the highest growth potential."

Pioneer Europe Select Fund draws on the expertise of investment professionals in both the Boston and Dublin offices. The fund will invest primarily in a concentrated portfolio of European stocks selected from among the leading companies in their respective markets.

The three global sector funds are managed in Boston by Pioneer's global equities team, including participation from professionals in its Dublin-based affiliate. Pavlos Alexandrakis, one of the team members, will monitor the portfolios and implement the team's decisions from Boston. Pioneer Global Financials Fund invests in companies such as banks, insurance companies, investment advisors Investment Advisor

1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission.

2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and
, and brokerage companies. Pioneer Global Health Care Fund invests in companies such as biotech bi·o·tech  
n. Informal
Biotechnology.


biotech
Noun

short for biotechnology

Noun 1.
, pharmaceutical, biomedical bi·o·med·i·cal
adj.
1. Of or relating to biomedicine.

2. Of, relating to, or involving biological, medical, and physical sciences.
, health care services, and medical device manufacturers. Finally, Pioneer Global Telecoms Fund invests in companies involved in wireless communications wireless communications

System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data.
, fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , semiconductors, data transmission, satellite, and cable television. The global equities team also manages Pioneer World Equity Fund.

Pioneer Investment Management, Inc., based in Boston and Pioneer Investment Management, Ltd., based in Dublin, Ireland together manage over $110 billion, including approximately $22 billion for U.S. investors, under the name Pioneer Investments(R). Pioneer's flagship fund, Pioneer Fund, was founded in 1928 and is the fourth oldest mutual fund in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. .

International investing involves special risks, which include but are not limited to, currency fluctuations, social and economic instability, differing accounting standards, limited public information and periods of illiquidity. These risks apply especially to emerging markets. Sector investing involves greater risk than more diversified investment options. Funds that have non-diversified portfolios may experience greater volatility than those with more diversified portfolios. Certain of the funds may invest in small- and mid-cap stocks, which may be more volatile than more liquid large-cap issues. Technology-related companies often have special risks, e.g. commercial unsuccessful products or quick obsolescence ob·so·les·cent  
adj.
1. Being in the process of passing out of use or usefulness; becoming obsolete.

2. Biology Gradually disappearing; imperfectly or only slightly developed.
. For more information on Pioneer Europe Select Fund, Pioneer Global Financials Fund, Pioneer Global Health Care Fund, Pioneer Global Telecoms Fund, Pioneer Fund, or any Pioneer fund, please call your investment representative or Pioneer at 800-225-6292. Please ask for a free prospectus, which describes charges and expenses; read it carefully before you invest or send money. Pioneer Funds Distributor, Inc., is the Underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite)


UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer.
 and Distributor for Pioneer mutual funds.

(c)Pioneer Investment Management, Inc.

Member of the UniCredito Italiano Banking Group, Register of Banking Groups
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Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Date:Feb 14, 2001
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