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Thursday, May 01, 2008

Pioneer Fund Changes Managers

News summary by MFWire's editors

Rod Wright is the new lead portfolio manager of Pioneer Value Fund. The change took effect today, May 1. The fund was formerly managed by Aaron Clark, who has resigned from Pioneer.

Company Press Release

BOSTON - (Business Wire) Pioneer Investments today announced that Rod Wright has been named lead portfolio manager of Pioneer Value Fund effective May 1, 2008. Wright, who has been strategy director of Pioneer’s value team in the U.S. since 2002, replaces Aaron C. Clark, who has resigned from Pioneer. Brad Galko will support Wright as a portfolio manager of the Pioneer Value Fund.

Wright previously managed Pioneer Value Fund from 2002 to 2006, and both Wright and Galko have been part of the fund’s management team since 2006. The investment objective of the fund will remain the same. Wright and Galko will continue to be supported by Pioneer’s global equity research team, which provides fundamental and quantitative research on companies, and includes members from Pioneer’s affiliate, Pioneer Investment Management Limited.

Wright’s portfolio management responsibilities include Pioneer Value Fund, Pioneer Mid Cap Value Fund, Pioneer Mid Cap Value VCT Portfolio and two offshore funds, Pioneer Funds – U.S. Value (Lux) and Pioneer Funds – U.S. Mid Cap Value (Lux). Prior to joining Pioneer in 1994, Wright worked with Prudential Investment Advisors, first as an analyst and later as a co-portfolio manager. Galko’s portfolio management responsibilities include Pioneer Value Fund, Pioneer Research Fund, and an offshore fund, Pioneer – U.S. Research (Lux). He joined Pioneer in 2001 as a senior analyst. Prior to joining Pioneer, Galko spent ten years with Morgan Stanley in the firm’s Mergers & Acquisitions, Corporate Strategy and Equity Research departments.

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 25 countries and approximately $301.1 billion in assets under management as of March 31, 2008, of which approximately $74 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 UniCredito Italiano S.p.A. 

Edited by: Erin Kello

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