Company Press Release

Boston, Massachusetts – Pioneer Investments today announced that it is strengthening its team dedicated to Registered Investment Advisors with an expansion of its U.S. sales team supporting RIAs and an increase in its marketing support for RIAs. The announcement comes as Pioneer celebrates its 10-year anniversary of dedicated focus on the RIA sales channel.

“Pioneer has had a longstanding commitment to the RIA market, and as we reach our tenth year focusing on RIAs, we are stepping up our commitment to this market by adding to our dedicated RIA sales team and increasing our resources aimed at supporting RIAs,” said Joseph D. Kringdon, Executive Vice President and Head of U.S. Retail Distribution.

Laura Palmer, Senior Vice President and leader of the RIA team at Pioneer, added, “The RIA market has been one of the fastest growing market segments for Pioneer, and we are increasing our support for this channel through an expanded sales team and marketing effort.” Palmer, a 29-year industry veteran, further stated that “we remain committed to this unique market and are focused on increasing the value we bring to RIAs through a thought leadership program offering educational insights from the firm’s investment team and practice management tools tailored specifically to RIAs.”

To support the RIA sales team, Michael Reynolds has been promoted to Regional Vice President for the RIA Channel. He will be based in Texas and focus on the Central U.S. RIA market. Michael was previously a Regional Sales Specialist at Pioneer since 2007. Prior to joining Pioneer, he worked in sales positions at Legg Mason, Citigroup Asset Management and Ameriprise Financial. He has a B.S. in Finance from Villanova University and is a Chartered Mutual Fund Counselor CMFC®.

In addition, Pioneer is planning to hire a new RIA wholesaler to cover the West Coast of the U.S. This new hire will expand the team dedicated to the RIA market to six, including Palmer. The group also is supported by the Business Development Team.

About Pioneer Investments

Pioneer Investments is the trade name for Pioneer Global Asset Management S.p.A. and its subsidiaries, a global investment firm with offices in 31 countries and approximately $253 billion in assets under management as of December 31, 2009, of which approximately $59 billion was managed in the U.S. Founded in 1928, its flagship mutual fund, Pioneer Fund, is the third-oldest mutual fund in the U.S. Pioneer Investment Management USA Inc. is the North American operating subsidiary of Pioneer Global Asset Management S.p.A., which is a wholly-owned subsidiary of UniCredit S.p.A. Pioneer Investment Management, Inc. is the firm’s U.S. investment advisory subsidiary, and Pioneer Funds Distributor, Inc. is the firm’s U.S. distribution subsidiary.

Before investing, consider the product’s investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus containing this information. Read it carefully.

Securities offered through Pioneer Funds Distributor, Inc., 60 State Street, Boston, MA. 02109. Underwriter of Pioneer mutual funds, Member SIPC © 2010 Pioneer Investments

Member of the UniCredit Banking Group, Register of Banking Groups


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