THE ERA OF INVESTMENT SOLUTIONS
Important Information - Diversification does not guarantee a profit or protect against a loss. Alpha - Measures risk-adjusted performance, representing excess return relative to the return of the benchmark. A positive alpha suggests risk-adjusted value added by the money manager versus the index. Unless otherwise stated, all information contained in this document is from Pioneer Investments and is as of September 1, 2016. Unless otherwise stated, all views expressed are those of Pioneer Investments. These views are subject to change at any time based on market and other conditions and there can be no assurances that countries, markets or sectors will perform as expected. Investments involve certain risks, including political and currency risks. Investment return and principal value may go down as well as up and could result in the loss of all capital invested. This material does not constitute an offer to buy or a solicitation to sell any units of any investment fund or any services. Pioneer Investments is a trading name of the Pioneer Global Asset Management S.p.A. group of companies. Date of First Use: September 15, 2016.